Global Collagen Market to Reach US$9.4 bn by 2023, Marine and Bovine Collagen Represent Largest Source Segments: Transparency Market Research

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Apr 25, 2016, 08:30 ET

ALBANY, New York, April 25, 2016 /PRNewswire/ --

According to a new market report published by Transparency Market Research "Collagen Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2015 - 2023," the global collagen market was valued at US$4.1 bn in 2014 and is anticipated to reach US$9.4 bn by 2023 at a CAGR of 9.4% during the forecast period from 2015 to 2023.

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Collagen represents one of the most profuse protein present in the animals and has been subjected to rigorous research activities. This has increased the use of collagen across various industries. It is extracted from various land animals (mainly bovine & porcine) and birds. This resulted in identification of alternative sources of collagen such as marine sources. Collagen is found in the connective tissue of a human body. Individuals suffering from osteoarthritis and rheumatoid arthritis are often prescribed collagen supplements to replace the collagen in the joints. Three major types of collagen are widely used in various applications: Type I, Type II, and Type III. Their use is specific to certain body parts.

Marine collagen is a preferred source over conventional sources owing to properties such as low molecular weight, high absorption, and excellent bioavailability. In addition, low risk of disease transfer and negligible religious barriers on the use of marine collagen will support the uptake of this source during the forecast period. Factors such as increasing commercialization of novel collagen sources and rigorous research and development in the field of regenerative medicine and wound healing will propel market growth. On the other hand, high risk of disease transmission and undesirable influence of religious beliefs and culture toward consumption or use of collagen-based products are likely to hamper market growth. However, increasing preference for minimally or non-invasive technologies and rising demand for novel and synthetic collagen sources are anticipated to provide lucrative opportunities in the market.

Browse Research Report: http://www.transparencymarketresearch.com/collagen-market.html

The bovine and porcine collagen segments accounted for over 60% of the collagen market in 2014 as these sources are considered to be primitive sources and provide high yield coupled with low cost. However, demand for these sources is expected to decline during the forecast period from 2015 to 2023 due to high risk of disease transmission and rising negative influence of religious beliefs and culture. In terms of volume, the marine collagen products segment is anticipated to record the highest growth rates as compared to bovine and porcine collagen consumption.

Chicken, ovine, equine, silkworm, and rat tail are some of the other sources of collagen on which a lot of research and development is carried out currently. Chicken collagen is majorly used for supporting the cartilage of the body and hence type II collagen is majorly derived from chicken. However, this type of collagen is least preferred in medical applications as it causes allergic reactions and is ineffective in raising the overall levels of collagen in the body. Demand for other collagen sources such as equine, ovine, and rat tail is expected to increase during the forecast period due to increasing research efforts by the market players toward standardizing the alternative sources of collagen. Currently, there are few products extracted from these sources and many are still in the research phase. Hence, the other collagen sources market is likely to be small in terms of both revenue and volume during the forecast period.

Browse Regional PR: http://www.europlat.org/global-collagen-market.htm

The market for the collagen based applications is expected to record considerable growth rate owing to increasing use of collagen based products in pharmaceuticals and medical devices. Extensive use of collagen in tissue engineering and drug delivery applications is due to benefits of collagen in wound healing and bone graft substitutes. Companies such as Medtronic plc, Kyeron B.V., Collagen Solutions plc, and botiss biomaterials GmbH are the key players offering collagen-based bone and dental grafts. Rising demand for novel drug delivery systems in ophthalmology, wound healing, and other therapeutic areas is likely to increase the uptake and acceptance of collagen-based products.

The collagen market is consolidated, with a few companies accounting for major market share. Several new entrants are looking forward to merge or collaborate with the large companies to facilitate the production of specified grade of collagen or manufacture of specific collagen-based medical devices. This would enable the large companies to scale up their operations and expand their product offerings with high efficiency. Furthermore, increasing collaboration of collagen manufacturers with pharmaceutical and biotechnology companies is likely to support market growth during the forecast period. Collagen Solutions, plc, Collagen Matrix, Inc., Nippi, Inc. Medtronic plc, and Baotou Dongbao Bio-Tech Co. Ltd are the key players operating in the collagen market.

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