Wound Biologics Market: Rising Demand for Biologics in Surgical Procedures

 The global wound biologics market size is expected to reach USD 6.43 billion by 2026, according to a new report by Grand View Research, Inc. is expected to grow at a CAGR of 9.4% over the forecast period. The rising geriatric population, introduction of technologically advanced products, and increasing cases of burns are the key driving factors for this market.

The wound biologic therapy helps in restoring innate repair mechanisms of the patients. It also involves application of active biological agents such as plant-derived biomolecules. These biological agents has antimicrobial, anti-inflammatory attributes, and antioxidant properties that helps in rapid healing of wounds. In addition, the biologic dressing restricts water, electrolyte, protein, and heat loss and allows minimal risk of contamination. It also enables autolytic debridement and develop a granular wound bed, thereby promoting rapid wound healing.

The wound biologics treatment is very much effective in healing chronic and acute wounds. The increasing cases of burn wounds and diabetic foot ulcers across the globe are anticipated to be the major driving factor for this market growth. For instance, as per a report published by the National Center for Biotechnology Information (NCBI), in 2019, the global prevalence of Diabetic Foot Ulcers (DFU) was 6.3% in 2018 and North America reported the highest DFU prevalence rate of 13.0% and Oceania had the lowest prevalence of 3.0%. Since, wound biologics allows rapid and effective healing, thus increasing incidence of chronic wounds are expected to surge the demand for wound biologics products, thereby propelling the market growth over the forecast period.

Gather more insights about the market drivers, restrains and growth of the Global Wound Biologics Market

 

Wound Biologics Market Report Highlights

  • In terms of revenue, acute wounds segment held the largest share in 2018 owing to the rising cases of burn wounds and trauma across the globe.
  • Biological skin substitutes segment held the largest market share and is expected to witness the fastest growth rate over the forecast period owing to the increasing incidence of diabetic and venous leg ulcers across the globe.
  • Hospital segment held the largest share in 2018 due to the rising cases of burns and accidents.
  • Asia-Pacific is expected to witness the fastest growth over the forecast period owing to the rising number diabetic patients in this region.
  • Prominent players present in the wound biologics market are Smith & Nephew PLC., Osiris Therapeutics, Integra Lifesciences, and Wright Medical.

Regional Insights

North America dominated the market in 2018. The increasing cases of road accidents, rising prevalence of chronic diseases, and the presence of several key players in the region is anticipated to drive the market in North America. In addition, the availability of skilled professionals and improvement in healthcare infrastructure are also expected to drive this market over the forecast period.

Asia Pacific is anticipated to witness the fastest growth over the forecast period. Presence of developing countries such as China, India, and Japan is anticipated to boost the market growth in Asia Pacific region. In addition, increasing cases of chronic diseases, especially diabetes is also expected to surge the Asia Pacific market growth over the forecast period.

Wound Biologics Market Share Insights

Few of the prominent market players in the market include Osiris Therapeutics, Integra Lifesciences, and Wright Medical and Smith & Nephew PLC. Key players are adopting various strategies such as merger & acquisitions, product launch, and partnerships to strengthen their position in the industry.

  • For instance, in April 2019, Smith & Nephew PLC acquired Osiris Therapeutics, Inc., with an aim to accelerate the development of its advanced wound management product portfolio. The initiative was anticipated to expand its customer base.

Order a free sample PDF of the Wound Biologics Market Intelligence Study, published by Grand View Research.

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