Global Wound Care Biologics Market is expected to grow at a CAGR of 10.01% during the forecast period 2020-2027
A new research report published by Fior Markets with the title Wound Care Biologics Market by Wound Type (Diabetic Foot Ulcer, Pressure Ulcers, Surgical & Traumatic Wound, Burns), by Product (Biological Skin Substitutes, Topical Agents), by End User, Region, Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2020 to 2027.
The global wound care biologics market is expected to grow from USD 1.56 billion in 2019 to USD 3.34 billion by 2027, at a CAGR of 10.01% during the forecast period 2020-2027. North America is expected to hold the largest market share with a large number of cases of diabetic foot ulcer. Also, due to massive investments in the research and development of innovative technologies and the presence of leading players in the region, the market share will grow significantly. Asia-Pacific region is expected to show the highest growth rate with increasing investments in the healthcare infrastructure and innovation and rise in the number of patients.
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Some of the leading players in the market are Health Care AB, Integra Life Sciences, MiMedx Group, Mölnlycke Health Care AB, Osiris Therapeutics, Derma Sciences, LifeSciences Corp., Smith & Nephew, Amnio Technology, Skye Biologics, Solsys Medica, and Wright Medical. The market is highly competitive, and the major players adopt strategies like collaborations and, mergers and acquisitions. The companies are trying to focus on innovation with new product features, improved design, and better efficiency.
On the basis of wound type, the market can be segmented into diabetic foot ulcer, pressure ulcers, surgical & traumatic wound, and burns. Diabetic foot ulcers dominate the market share and is expected to grow at a rapid pace. High sugar levels cause diabetic wounds like foot ulcers which are effectively cured by wound care biologics. The pressure ulcer segment will also show a high growth rate owing to the rising prevalence of bedridden disorders, causing bedsores. Based on the type of products, the market can be divided into biological skin substitutes and topical agents. The biological skin substitutes are expected to dominate the market share in the segment. Biological skin substitutes ensure rapid healing of wounds and are mostly used for the treatment of burns. With the increase in the number of burn cases and other chronic diseases, the market share of biological skin substitutes will increase. Based on end-user, the market is divided into hospitals and clinics, ambulatory surgical centres (ASCs), and burn centres. Hospitals dominate the market share due to the high prevalence of chronic diseases and surgical wounds.
The increasing prevalence of chronic wounds with the rise in the number of cancer patients and diabetic patients, along with the increasing incidences of accidents and burn cases will act as major drivers for the growth of this market. With diabetes becoming common, more people face the problem of ulcers that require wound care biologics for efficient treatment. Also, the burn injuries which can easily catch a bacterial infection and need time for healing can be effectively treated with wound care biologics. The restraints for the growth of the market could be high cost and health risks related to the use of skin substitutes.
About the report:
The global Wound Care Biologics market is analyzed on the basis of value (USD Billion), volume (K Units), export (K Units), and import (K Units). All the segments have been analyzed on global, regional and country basis. The study includes an analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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