Rising incidence of diabetic foot ulcers, increasing rate of burn injuries, and growing geriatric population and high rate of injuries are some key factors driving market growth
The global wound care biologics market size is expected to reach USD 3.71 Billion by 2028 at a CAGR of 10.1%, according to the latest report by Reports and Data. Increasing incidence of chronic injuries such as diabetic foot ulcers and burn injuries, rising focus on advancement of treatment options, and growing burden of diseases across the globe are key factors expected to drive market revenue growth over the forecast period. In addition, increasing use of temporary skin substitutes and growing focus of pharmaceutical and biotechnology companies to develop advanced biologics are some other factors expected to contribute to revenue growth of the market going ahead.
Biologic wound healing therapies aim to accelerate the re-establishment of tissue repair mechanisms through the application of active biological agents that have antioxidant, antimicrobial, or anti-inflammatory attributes. Biologic dressings prevent water loss, heat loss, and protein and electrolyte loss and minimizes the risks of contamination. Wound care biologics accelerate wound closure and optimizes wound healing environment. Over the last decade, rapid advancement in understanding wounds and their pathophysiology have led to significant innovations in treatment of acute, chronic, and other wounds.
Growing incidences of burn injuries have increased the preference for wound care biologics as it enables rapid recovery with low-risk of contamination and zero complications. Rapid availability of superior quality biologics and growing investment to accelerate development of safe and high-quality wound care biologics are some other key factors expected to drive market growth over the forecast period. However, high costs associated with treatment and growing incidence of skin graft and substitute rejection are expected to hamper market growth to a certain extent over the forecast period.
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Some Key Highlights from the Report:
- Biologic skin substitutes segment is expected to account for largest revenue share in the global market over the forecast period owing to increasing preference for skin substitutes in treatment of chronic and severe wounds and their improved efficiency of wound closure.
- Ulcers segment revenue is expected to expand significantly over the forecast period owing to growing demand for wound care biologics due to increasing incidence of diabetic foot ulcers.
- North America accounted for the largest revenue share in the global market in 2020 and is expected to register significant revenue growth over the forecast period owing to rapid availability wide range of wound care biologics products, rising prevalence of diabetes and diabetic foot ulcers, and robust presence of key players in the region.
- Major companies in the market include Smith & Nephew, Mölnlycke Health Care AB, Integra LifeSciences Corporation, Wright Medical, MiMedx Group, Vericel Corporation, Anika Therapeutics, Osiris Therapeutics, Organogenesis, Kerecis, Solsys Medical, ACell, Lavior Inc., and Marine Polymer Technologies, Inc.
- In May 2021, VIVEX Biologics, Inc. which is a prominent leader in regenerative medicine, announced the launch of VIAGENEX. The product is a family of amniotic allografts processed to maintain the inherent mechanical properties of amniotic tissue which can be used as a soft tissue barrier and wound covering in various applications such as wound care, burn care, oral surgery, and knee and tendon repair, among others.
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For the purpose of this report, Reports and Data has segmented the wound care biologics market on the basis of type, application, and region:
Type Outlook (Revenue, USD Million; 2018–2028)
- Biologic Skin Substitutes
- Enzyme Based Formulations
- Growth Factors
Application Outlook (Revenue, USD Billion; 2018-2028)
- Acute Wounds
- Chronic Wounds
- Surgical Wounds
Regional Outlook (Revenue, USD Billion; 2018-2028)
- North America
- Rest of APAC
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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Key Questions Answered by the Report:
- What are the key growth driving and restraining factors of the Wound Care Biologics market?
- What are key opportunities and growth prospects of the Wound Care Biologics industry is expected to witness over the forecast period?
- Who are the prominent players operating in the market? What are the key strategies adopted by these companies?
- Which region is expected to dominate the market growth over the forecast period?
- Which segments are expected to register lucrative growth over the forecast period?
- What are the key outcomes of SWOT analysis and Porter’s Five Forces analysis?
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