Wound Care Biologics Market Trends, Growth Insights And Forecast To 2027

Wound Care Biologics Market Trends, Growth Insights And Forecast To 2027

Increasing government initiatives focused on enhancing patient care and lowering cost on healthcare products may augment the wound care biologics market size by 2025. Governments across developing countries are implementing various initiatives to address the issue of affordability with healthcare services. In developed countries, governments are focusing on reducing the prices of wound healing items that are used in public hospitals and ambulatory surgical centers.

Geriatric population being more susceptible to chronic illnesses could drive the demand for numerous surgical procedures. Wide-scale application of wound healing products in surgical and post-surgical procedures and a sizable growth in global geriatric population is projected to drive industry expansion in the coming years.

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Firms operating in the wound care biologics market are developing new products that offer better patient experience and enhanced wound healing capability. For instance, in 2020, Misonix, Inc., a medical devices & regenerative tissue products provider, announced its exclusive supply and distribution agreement with Gunze Ltd. for TheraGenesis®, its FDA cleared, porcine tendon derived collagen wound matrix used to treat burns, trauma, and reconstructive wounds. Based on such innovations, Global Market Insights, Inc., reports that the wound care biologics market may record over USD 2.5 billion by 2025.

Topical agents consist of creams, lotions and ointments. Numerous innovation and research has supported the development of new topical agents that could help stimulate the process of wound healing. Many physicians and doctors prefer the use of these agents given to their benefits like lesser side effects and have similar efficacy as oral formulations. On this note, studies suggest that the topical agent segment may register 8.9% CAGR over the coming years.

Venous leg ulcers are very often caused due to obstruction in blood supply functioning from the legs to the heart for purification. The veins in legs are capable of disrupting and stopping blood supply which can cause the skin to weaken due to high pressure on the limbs. This can decrease the rate of wound healing and make a person more prone to leg ulcers even through a minor injury. The venous leg ulcers segment is projected to grow substantially over the estimated period. High demand for skin substitutes for the treatment of venous leg ulcers may drive segment growth.

The demand for wound care biologics across hospitals is expected to grow at 8.8% over the forecast period. Wound healing products like skin substitutes and topical agents are majorly utilized by practitioners to  treat surgical wounds, burns, venous leg ulcers and diabetic foot ulcers. Rise in cases of such conditions is anticipated to boost the need for wound care biologic products.

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Companies like Mimedx Group, Smith & Nephew, Derma Sciences, Osiris Therapeutics, Integra Life Sciences, Wright Medical, Skye Biologics, Amnio Technology, Solsys Medica and Kerecis are holding a sizable share in the wound care biologics market. These firms are focusing on enhancing their market position through business strategies such as new product development, mergers and acquisitions, among others.

Partial Chapter of the Table of Content

Chapter 3. Wound Care Biologics Industry Insights

3.1. Industry segmentation

3.2. Industry landscape, 2014 - 2025

3.3. Industry impact forces

3.3.1.  Growth drivers

3.3.1.1.  Rising incidences of burn injuries in developing and underdeveloped regions

3.3.1.2.  Increasing geriatric population globally

3.3.1.3.  Innovations in wound care biologics in North America

3.3.1.4.  Government initiatives regarding wound care treatment in Europe and North America

3.3.2.  Industry pitfalls and challenges

3.3.2.1.  High cost of wound treatment

3.3.2.2.  Lack of trained physicians in underdeveloped economies

3.4. Regulatory landscape

3.5. Growth potential analysis

3.5.1.  By product

3.5.2.  By wound type

3.5.3.  By end-use

3.6. Competitive landscape, 2018

3.6.1.  Strategy dashboard

3.7. Porter’s analysis

3.8. PESTEL analysis

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