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Global Wound Care Biologics Market to Reach US$ 2.35 Billion by 2024, Triggered by Increasing Prevalence of Chronic Injuries

According to the latest report by IMARC Group, titled “Wound Care Biologics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the global wound care biologics market size reached US$ 1.40 Billion in 2018. Wound care biologics refer to drugs derived from, or containing components of, living organisms that help to control or heal infections. Wound care is a complex and intricate process that involves fibrous tissue accretion, wound contraction, coagulatory and inflammatory events, deposition of collagen, tissue granulation and remodeling. Biologic wound care products include active biological agents, such as plant-derived active biomolecules which exhibit antioxidant, antimicrobial, or anti-inflammatory attributes. These biologic wound healing therapies aim to accelerate healing by modulating or augmenting the inflammatory mediators.  

Global Wound Care Biologics Market Trends:

Chronic wounds represent a silent epidemic affecting a large proportion of the world’s population. A significant rise in the aging population coupled with the increasing prevalence of chronic skin wounds due to burns and skin cancer has increased these numbers, owing to which, the use of biologics has grown exponentially in recent years to treat or cure infections. Also, several companies are offering xenografts that serve as a barrier and protect wounds from bacterial and physical trauma, reduce pain, and increase moisture and heat retention. Significant efforts are also being made to develop cost-effective and high-quality biologics at affordable prices to make them more accessible to patients suffering from acute to chronic wounds worldwide. Moreover, extensive research and development (R&D) are further creating a positive outlook for the market. Researchers are currently focusing on different approaches of biologic categories in wound healing and the advancements of the individual research tracts that attempt to change wound care from secondary-intent healing and tissue repair to dermal regeneration. Looking forward, the market value is projected to reach US$ 2.35 Billion by 2024, registering a CAGR of around 9% during 2019-2024.

Market Summary:

  • Based on the product, the market has been segmented as biologic skin substitutes (human donor tissue-derived, acellular animal-derived and biosynthetic products) and topical agents.
  • On the basis of the wound type, the market has been segregated into ulcers (diabetic foot, venous, pressure ulcers and others), surgical and traumatic wounds, and burns.
  • The market has been categorized based on the application into acute, chronic and surgical wounds.
  • On the basis of the end user, the market has been classified into hospitals, ASCs, and burn centers and wound clinics.
  • Region-wise, the market has been divided into North America, Asia Pacific, Europe, Middle East and Africa, and Latin America.
  • The competitive landscape of the market has also been examined with some of the key players being Smith & Nephew plc, Mölnlycke Health Care AB, Integra LifeSciences Corporation, Osiris Therapeutics, Inc., Avita Medical Ltd., ConvaTec Group Plc, Cytori Therapeutics, Inc., Mylan N.V., Johnson & Johnson Pvt. Ltd., Leap Therapeutics, Inc., Nuo Therapeutics, Inc., Mallinckrodt Pharmaceuticals, Wright Medical Group N.V., Mimedx Group, Inc. and Solsys Medical, LLC.

 

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