Wound Care Biologics Market Size, Growth and Share Analysis by Product Type (Biological Skin Substitutes, Topical Agents), Wound Type (Surgical and Traumatic Wounds, Diabetic Foot Ulcer, Pressure Ulcers), End User (Hospitals, Clinics), Forecast till 2023
According to Market Research Future (MRFR), the global wound care biologics market valuation had reached USD 1.20 BN in 2017, which is further estimated to appreciate at 9.9% CAGR over the forecast period (2018-2023). Global Wound Care Biologics Market is growing pervasively. The market growth attributes to the rising adoption of biologics for the management of diabetic ulcers, venous ulcers, arterial ulcers, and pressure ulcers. Besides, increasing awareness about the advantages of wound care biologics and growing research activities worldwide drives the market growth.
Moreover, rising transplant surgeries and increasing demands for 3Dimentional reconstruction in patients escalate the market demand on furthered height. Rising awareness for reconstructive surgeries and increasing numbers of accidents, limb amputation, and implants are the key wound care biologics market trends. Rising cases of chronic diseases and burn injuries, and increasing healthcare expenditure propel the growth of the advanced wound care biologics market.
Request Free Sample Copy at: https://www.marketresearchfuture.com/sample_request/6563
Conversely, the high cost of treatment, lack of awareness, and poor education & training are the major factors expected to inhibit the growth of the market. Also, stringent regulatory approvals act as a headwind for the growth of the wound care biologics market. Nevertheless, advances in technologies and continuous development in the area of reconstruction would support the market growth throughout the review period. Besides, treatments such as stem cell surgeries and rising per capita healthcare expenditures would boost wound care biologics market size.
Wound Care Biologics Market Segmentation
By Product Type, the global wound care biologics market is segmented into Skin Substitute, Human Donor Tissue, Acellular animal-derived, Biosynthetic, Topical Agents, and others.
By Wound Type, the global wound care biologics market is segmented into Ulcers, Diabetic Foot Ulcers, Venous Ulcers, Pressure Ulcers, other ulcers, Surgical & Traumatic Wounds, Burns, and others.
By End User, the global wound care biologics market is segmented into Hospitals, Clinics, and other end users.
Wound Care Biologics Market Regional Outlook
North America dominates the global wound care biologics market. The largest market share attributes to the presence of well-developed industry players and healthcare sectors in the region. Besides, growing occurrences of chronic wounds and the rising prevalence of diabetes foster the growth of the market. Moreover, a notable increase in stem cell surgeries and encouraging government support for R&D to discover new wound care therapeutics boost the regional market growth.
The European region holds the second position in the global wound care biologics market. The market is driven by the prevalence of diabetes and developed healthcare infrastructure. Moreover, increasing surgeries of conjunctival surface reconstruction and ocular surface reconstruction are significant tailwinds for market growth. Besides, rising cases of chemical and thermal burns in the region are driving the growth of the wound care biologics market.
Also, increasing occurrences of disorders and diseases such as cicatricial pemphigoid, Stevens-Johnson syndrome, pterygium, and persistent epithelial defects with ulceration create enormous market demand. Furthermore, increasing R&D funding support from public & private sectors pushes the growth of the European wound care biologics market.
The wound care biologics market is brisk in the Asia Pacific region. Factors such as the vast patient population of chronic diseases and diabetes in countries like India and China influence market growth. Furthermore, the increasing numbers of ocular surgeries, reconstruction procedures, and cosmetic surgeries are driving the growth of the regional market.
Additionally, rising cases of venous and pressure leg ulcers, alongside the rising development of related technologies and advances in biotechnologies, increase the size of the regional market. The APAC wound care biologics market is estimated to register a phenomenal CAGR during the forecast period.
Wound Care Biologics Market Competitive Landscape
Fiercely competitive, the wound care biologics market appears fragmented due to the presence of many well-established players. Innovation/ new technology launch remains a popular trend among market players. Also, they are focusing on expanding their global footprints by entering untapped markets.
Players driving the global wound care biologics market include Smith & Nephew (UK), Integra LifeSciences Corporation (US), Wright Medical (US), Mölnlycke Health Care AB (Sweden), Vericel Corporation (US), MiMedx Group (US), Anika Therapeutics (US), Marine Polymer Technologies, Inc. (US), Osiris Therapeutics (US), Kerecis (Iceland), ACell (US), Solsys Medical (US), and Organogenesis (US), among others.
Wound Care Biologics Industry/Innovations/Related News:
SANUWAVE Health, Inc. (the US), a shockwave technology company, announced the acquisition of Celularity’s UltraMIST® Ultrasound Healing Therapy asset and exclusive partnership rights for Celularity’s wound care biologic products. SANUWAVE develops patented, non-invasive devices for the repair and regeneration of skin, musculoskeletal tissue, and vascular structures.
The non-binding LOI is expected to broaden its wound care portfolio and enhance its financial profile. The contemplated acquisition would bolster SANUWAVE’s advanced wound care portfolio and support its growth strategy to offer comprehensive, advanced wound care solutions to improve clinical outcomes across the care pathway.
Browse Detailed TOC with COVID-19 Impact Analysis at: https://www.marketresearchfuture.com/reports/wound-care-biologics-market-6563
NOTE: Our team of researchers are studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), & Consulting Services. MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients.
Contact:
Akash Anand
Market Research Future
+1 646 845 9312
Email: sales@marketresearchfuture.com