Wound Care Biologics Market Highlights
Growing aging population, increasing prevalence of chronic diseases and burn injuries, and increasing healthcare expenditure are expected to drive the growth of the market. According to the American Diabetes Association, in 2015, about 30.3 million suffer from diabetes in the Americas. Moreover, in the US, 486,000 were suffering from burn injuries from 2011 to 2015. On other hand, the high cost of treatment, lack of awareness, and poor education and training can restrain the market growth over the assessment period.
Over the projected period, the wound care biologics market share is predicted to increase considerably. In 2017, the wound care biologics market was estimated to be worth USD 1.20 billion, and the market is expected to increase at a CAGR of 10.50% from 2022 to 2030.
Wound care biologics represent a promising frontier in the field of wound management. These innovative treatments harness the power of biologically derived substances to promote faster and more efficient wound healing. The wound care biologics market has experienced significant growth in recent years, driven by the increasing prevalence of chronic wounds, a growing aging population, and a greater understanding of the benefits of these biologically active therapies. In this article, we explore the key developments and trends shaping the wound care biologics market.
Biologic wound care products involve assisting in wound healing. Biologic wound care products restore the tissue integrity by regeneration and scar formation. It is gaining popularity as a treatment modality for the management of chronic wounds and burns injuries.
Regional Analysis
Geographically, the Americas is expected to dominate the global market owing to the presence of well-developed healthcare sector, rising prevalence of diabetes, increasing rate of accidents and rising expenditure for the healthcare sector. Europe is expected to hold the second largest position in the global market owing to the growing prevalence of chronic diseases coupled with increasing occurrences of burn cases. Asia-Pacific is expected to be the fastest growing market owing to the large population base of the diabetic patients and increasing developments in the healthcare segment. Furthermore, the Middle East and Africa region is expected to account for the least market share in the global market.
Segmentation
The global wound care biologics market trend has been segmented into product type, wound type, and end user.
Based on product type, the market is segmented into biological skin substitutes and topical agents. The biological skin substitutes segment is expected to account for the largest share and fastest growing segment of the global market in 2017. The market growth of the segment is attributed to increasing adoption and result oriented product.
Based on wound type, the market is segmented into ulcers, surgical traumatic wounds, and burns. The ulcer segment has been further segmented into diabetic foot ulcer, pressure ulcer, venous leg ulcer, and others ulcer.
The global wound care biologics market, by end user, has been segmented into hospitals, clinics, and other end users.
Wound Care Biologics Market Players
Some of the global wound care biologics market players are Integra LifeSciences Corporation (US), Smith Nephew (UK), Wright Medical (US), Mölnlycke Health Care AB (Sweden), MiMedx Group (US), Vericel Corporation (US), Anika Therapeutics (US), Osiris Therapeutics (US), Marine Polymer Technologies, Inc. (US), Kerecis (Iceland), Solsys Medical (US), ACell (US), and Organogenesis (US).
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