$2.5 bn by 2025| Wound Care Biologics Market Set for Continued Growth

The Wound Care Biologics Market is set to exceed USD 2.5 billion By 2025; according to a new research report by Global Market Insights. Increasing geriatric population globally will surge demand for wound care biologics as the elderly population base is susceptible to chronic infections. According to World Ageing Population, in 2017, 962 million people were in the age group of 60 years and above. Majority of the geriatric population suffers from chronic ailments. For instance, prevalence of foot ulcers is specifically high due to diabetes and other endocrine diseases in elderly people that will boost the demand for wound care biologic products such as skin substitutes and growth factors. Skin substitutes are highly preferred as they increase the chances of survival and helps in sustaining patient’s life. Thus, high adoption of such superior quality wound care biologics in treating the geriatric population will augment the industry growth.

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Innovations in the wound care biologics will foster the industry growth in upcoming years. Key industry players operational in the wound care biologics industry spends rigorously on R&D to develop quality wound care biologics products. For instance, xenografts offered by the companies can introduce collagen in the wounds that enables dermal regeneration. The exogenous collagen provides three-dimensional structure for the tissue growth and these xenografts are absorbed after the wound has completely healed. Also, skin substitutes recently developed are extensively utilized for treating post-surgical wounds. Therefore, availability of superior quality wound care biologics will boost the industry growth in foreseeable future. However, high cost of the wound care biologic products may restrain the industry growth to some extent.

Skin substitutes segment was valued at USD 940.6 million in 2018. Bioengineered skin and substitutes demand in surgeries has been growing in recent years. Also, recent advancements in skin tissue engineering have elevated its adoption amongst the doctors performing surgical procedures escalating the segmental growth. Bioengineered skin and substitute are one of the useful tools in reconstructive surgery practices prominently used as an alternative to skin grafts. For instance, allogenic acellular dermal matrix has high preference in the breast reconstruction procedures. Also, acellular dermal matrix products are utilized in diabetic-lower extremity ulcers. High usage of such superior bioengineered skin and soft in aesthetic procedures will drive the segmental growth during the forecast period.

Diabetic foot ulcers segment accounted for 16.8% in 2018 and is expected to show similar growth trends over the upcoming years. Diabetic wounds are caused due to high sugar levels that usually lead to hormonal imbalance and give rise to diseases such as chronic foot ulcers. As reported by OxyGeneration, of the total people suffering from diabetes at least 15%-20% will suffer from foot ulcers. Generally, clinicians prefer wound care biologics that provides moist environment for wound healing. Therefore, high usage of wound care biologics in treatment of diabetic wounds will augment the segmental growth.

Ambulatory surgical centers segment accounted for 31.5% revenue share in 2018. Ambulatory surgical centres can offer lower-priced procedures as they have a lower cost structure compared to traditional hospital setting. Though the cost structures are low, the operational efficiencies are uncompromised that increases their preference. Moreover, ASCs are generally located in the suburbs and rural areas that provides patients with better access that should positively impact the segmental growth.

U.S. wound care biologics market will experience 8.8% CAGR and is expected to grow substantially during the forecast timeframe. High growth can be attributed to the increasing perveance of diabetic foot ulcers. According to Azura Vascular Care, around 10% of people suffering from diabetes acquire chronic foot ulcers. Wound healing process is slow in patients with diabetes as the oxygen doesn’t reach most of the cells in the body that increases the chances of susceptibility for microbial and fungal skin infections. Moreover, growing preference for skin substitutes in aesthetic surgeries will augment the U.S. wound care biologics market growth during forecast timeframe.

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Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
Eminent industry players operational in wound care biologics market includes Smith & Nephew, Integra Life Sciences, Mölnlycke Health Care AB, Mimedx Group, Wright Medical, Osiris Therapeutics, Derma Sciences, Kerecis, Amnio Technology, Solsys Medica and Skye Biologics. These industry players adopt strategies such as geographic expansions, acquisitions, mergers, and new product launch to sustain market competition. Product approvals from regulatory authorities will also have positive impact on company’s growth. For instance, in November 2013, FDA approved Kerecis’s Omega3, tissue-regeneration technology that is specifically utilized in the treatment of chronic wounds.

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