Chicago, June 21, 2023 (GLOBE NEWSWIRE) -- The wound care biologics industry is expected to witness significant growth in the near future due to various factors. Wound care biologics are advanced therapeutic products derived from living organisms that promote wound healing and tissue regeneration. With a rising global incidence of chronic wounds, such as diabetic foot ulcers and pressure ulcers, there is a growing demand for effective and innovative wound care solutions. The industry is likely to experience advancements in biotechnology and regenerative medicine, leading to the development of new and improved wound care biologics. Additionally, increased investments in research and development, collaborations between pharmaceutical companies and research institutions, and a focus on personalized medicine are expected to drive the growth of the wound care biologics industry. Furthermore, with the growing aging population and the prevalence of chronic diseases, there will be a greater need for advanced wound care products that accelerate healing and reduce the economic burden associated with chronic wounds. Overall, the future of the wound care biologics industry appears promising, with a strong emphasis on innovative therapies and improved patient outcomes.
Wound Care Biologics market in terms of revenue was estimated to be worth $1.8 billion in 2022 and is poised to reach $2.4 Billion by 2027, growing at a CAGR of 5.4% from 2022 to 2027 according to a latest report published by MarketsandMarkets™. The growing geriatric population, the increasing prevalence of diabetes and target conditions, and the increasing number of traumatic wounds are the major factors driving the wound care biologics market’s growth.
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Wound Care Biologics Market Scope:
| Report Coverage | Details |
| Market Revenue in 2022 | $1.8 billion |
| Estimated Value by 2027 | $2.4 Billion |
| Growth Rate | Poised to grow at a CAGR of 5.4% |
| Market Size Available for | 2017–2027 |
| Forecast Period | 2022–2027 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product, wound type, end user, and region |
| Geographies Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
| Report Highlights | Updated financial information / product portfolio of players |
| Key Market Opportunities | Growth potential of emerging economies |
| Key Market Drivers | Growing prevalence of diseases & conditions affecting wound healing capabilities |
Wound Care Biologics market major players covered in the report, such as:
- Smith & Nephew plc (UK)
- Organogenesis Inc. (US)
- MIMEDX (US)
- Integra LifeSciences (US)
- Stryker Corporation (US)
- Mölnlycke Health Care AB (Sweden)
- Vericel Corporation (US)
- Bioventus LLC (US)
- Anika Therapeutics Inc. (US)
- AbbVie Inc. (US)
- Kerecis (Iceland)
- Marine Polymer Technologies Inc. (US)
- Merakris Therapeutics (US)
- PolyMedics Innovations GmbH (Germany)
- Fibroheal Woundcare Pvt. Ltd. (India)
- Anamay Biotech Inc. (India)
- Virchow Biotech Private Limited (India)
- Medline Industries LP (US)
- Tides Medical (US)
- Viscus Biologics LLC (US)
- Stability Biologics (US)
- MTF Biologics (US)
- Skye Biologics Holdings LLC (US)
- AlloSource (US)
- and SurgiLogix (US)
- and Among Others
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This report categorizes the wound care biologics market into the following segments and subsegments:
By Product
- Biological Skin Substitutes
- Human Donor Tissue-derived Products
- Acellular Animal-derived Products
- Biosynthetic Products
- Topical Agents
By Wound Type
- Ulcers
- Diabetic Foot Ulcers
- Venous Ulcers
- Pressure Ulcers
- Other Ulcers
- Surgical & Traumatic Wounds
- Burns
By End User
- Hospitals
- Ambulatory Surgery Centers
- Burn Care Centers & Wound Clinics
By Region
- North America
- US
- Canada
- Europe
- Germany
- UK
- France
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- Latin America
- Middle East & Africa
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The key stakeholders in the Wound Care Biologics market include:
- Manufacturers: These are companies that specialize in the development, production, and distribution of wound care biologics. They invest in research and development to create innovative products that promote wound healing and tissue regeneration. Manufacturers play a vital role in ensuring the quality, safety, and efficacy of wound care biologics and supply them to healthcare providers and patients.
- Healthcare Providers: Healthcare providers, including hospitals, wound care clinics, and home healthcare agencies, are important stakeholders in the Wound Care Biologics market. They prescribe and administer wound care biologics to patients with chronic or non-healing wounds. Healthcare providers rely on these advanced therapies to facilitate wound healing, reduce infection risk, and improve patient outcomes.
- Patients: Patients with chronic wounds or injuries are significant stakeholders in the Wound Care Biologics market. They benefit from the therapeutic effects of these biologic products, which help accelerate wound healing, reduce pain, and enhance tissue regeneration. Patients play an active role in the decision-making process regarding wound care biologics, as they collaborate with healthcare providers to choose the most suitable treatment options.
- Regulatory Authorities: Regulatory authorities, such as the Food and Drug Administration (FDA) in the United States, oversee the safety, quality, and efficacy of wound care biologics. They establish guidelines and regulations that manufacturers must adhere to for product approval and market authorization. These authorities ensure that wound care biologics meet stringent standards and provide safe and effective treatment options for patients.
- Research and Academic Institutions: Research and academic institutions contribute to the Wound Care Biologics market through scientific research, clinical trials, and technological advancements. They collaborate with manufacturers and healthcare providers to develop new biologic therapies, conduct studies to validate their effectiveness, and explore innovative approaches for wound healing and tissue regeneration.
- Insurance Providers: Insurance providers have a stake in the Wound Care Biologics market as they assess the medical necessity of these treatments and determine coverage policies. They play a role in determining reimbursement for wound care biologics, ensuring that patients have access to these advanced therapies.
- Advocacy Groups and Patient Organizations: Advocacy groups and patient organizations focused on wound care and related conditions also play a role in the Wound Care Biologics market. They raise awareness about chronic wounds, educate patients and caregivers about available treatment options, and advocate for improved access to wound care biologics. These groups work to ensure that individuals with chronic wounds receive appropriate care and support.
These stakeholders collectively contribute to the growth, development, and accessibility of wound care biologics, with the common goal of improving wound healing outcomes, reducing complications, and enhancing the quality of life for patients with chronic wounds.
Wound Care Biologics Market Frequently Asked Questions (FAQs):
Q1. What is the total market value of Wound Care Biologics Market report?
Q2. Which are the top companies holding the market share in Wound Care Biologics Market?
Q3. Which are the largest regions for this Market?
Q4. What is the leading technology of Wound Care Biologics Market?
Q5. What are the major drivers for this specific Market?
Q6. What are the upcoming key trends in the Wound Care Biologics Market report?
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Recent Developments:
- In June 2021, MIMEDX (US) received approval from the Japanese Ministry of Health, Labour and Welfare for the commercialization of Epifix in Japan.
- In April 2021, Kerecis (Iceland) launched its Kerecis Omega3 GraftGuide, an intact fish skin that uniquely addresses the challenges of burn healing.
- In January 2021, Integra LifeSciences (US) acquired ACell, Inc. (US). This acquisition enabled Integra to provide more comprehensive and complex wound management solutions.
- In November 2020, Stryker Corporation (US) acquired Wright Medical Group N.V. (Netherlands), a global medical devices company focused on extremities and biologics.
- In May 2019, Organogenesis Inc. (US) entered into an agreement with Vizient (US). This agreement allowed Organogenesis to extend its offerings of advanced wound care products to more than 3,100 hospitals.
Reasons to Buy the Report:
The report will help market leaders/new entrants by providing them with the closest approximations of the revenue numbers for the overall wound care biologics market and its subsegments. It will also help stakeholders better understand the competitive landscape and gain more insights to better position their business and make suitable go-to-market strategies. This report will enable stakeholders to understand the market's pulse and provide them with information on the key market drivers, restraints, and opportunities.
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Country Information
- Wound care biologics market size and growth rate estimates for countries in the Rest of Europe, the Rest of Asia Pacific, Latin America, and Middle East & Africa
Company profiles
- Additional five company profiles of players operating in the wound care biologics market.
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