The global wound biologics market is projected to reach an approximate value of USD 1,464.7 million in 2019, growing at a CAGR of 9.6%. Rise in prevalence of chronic disorders such as diabetes and obesity, growing elderly population coupled with increase in traumatic injuries are key factors driving the global wound biologics market.
Adroit Market Research report on global wound biologics market gives a holistic view of the market from 2018 to 2028, which includes factors such as market drivers, restraints, opportunities and challenges. The market has been studied for historic years from 2018 and 2019, with the base year of estimation as 2020 and forecast from 2021 to 2028. The report covers the current status and future traits of the market at global as well as country level. In addition, the study also assesses the market based on Porter's five forces analysis and positions the key players based on their product portfolio, geographic footprint, strategic initiatives and overall revenue. Prominent players operating in the global wound biologics market have been studied in detail.
Chronic diseases such as diabetes and obesity are leading to formation of chronic wounds. Thus, increase in incidence of chronic wounds in developed regions is expected to drive the demand for wound biologics. According to National Institutes of Health, chronic wounds affect 6.5 million individuals in the U.S. annually. Chronic diseases leading to formation of diabetic foot ulcers, pressure ulcers are major factors attributable to high risk of infection, amputation and death in patients. Thus, the management of such chronic wounds leads to surge in demand for wound biologics. Wound biologics are majorly used in hospitals, clinics, ambulatory surgical centers, critical care settings and burn care centers. Rise in burn injuries across the globe is another factor likely to boost the global wound biologics market over the forecast period.
The global wound biologics market has been segmented based on product, wound type, end-user, and region. Based on product, the wound biologics market is segmented into biological skin substitutes, and topical agents. Biological skin substitutes are further sub-categorized into allograft, xenograft, and biosynthetic products. Biological skin substitutes segment held majority of the market share in 2019. On the basis on wound type, the global wound biologics market is categorized into ulcers, surgical and traumatic wounds, and burns. Ulcers are further sub-categorized into diabetic foot ulcers, venous leg ulcers, pressure ulcers, and others. Ulcers grabbed majority of the market share in 2019 owing to high prevalence of diabetic foot ulcers across the globe. Wound biologics products are majorly adopted in hospitals and clinics, ambulatory surgical centers, and others. Hospitals & clinics dominated the global wound biologics market in 2019 owing to increase in adoption of wound biologics.
North America dominated the global wound biologics market in 2019. Increase in prevalence of diabetes, large elderly patient population, and wide availability of wound biologics in the region are key factors likely to drive the growth of the market in the next few years. According to the National Diabetes Statistics Report 2020, published by the Centers for Disease Control and Prevention (CDC), 34.2 million people in U.S. were living with diabetes. These conditions have contributed to a surge in the number of patients with chronic wounds globally. Presence of such large patient population will increase the demand for wound biologics in the future. Asia Pacific will create immense growth opportunities in the future owing to rise in burn injuries and accidents, presence of large target population along with increase in prevalence of diabetes and obesity in countries such as India and China.
Major players operating in the global wound biologics market include Smith & Nephew plc, Mölnlycke Health Care AB, Mimedx Group, Wright Medical, Anika Therapeutics, Derma Sciences Inc. (Integra LifeSciences Corporation), Solsys Medical, Organogenesis, Kerecis, and Vericel Corporation among others.
Key Segments of the Global Wound Biologics Market
Product Overview, 2018-2028 (USD Million)
- Biological Skin Substitutes
- Biosynthetic Products
- Topical Agents
Wound Type Overview, 2018-2028 (USD Million)
- Diabetic Foot Ulcers
- Venous Leg Ulcers
- Pressure Ulcers
- Surgical and Traumatic Wounds
End-users Overview, 2018-2028 (USD Million)
- Hospitals & Clinics
- Ambulatory Surgical Centers
Regional Overview, 2018-2028 (USD Million)
- North America
- United Kingdom
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC countries
- South Africa
- Rest of Middle East & Africa