Wound Care Biologics Market Global Key Players, Wound Type (Ulcers [Diabetic Foot, Venous, Pressure Ulcers], Surgical & Traumatic Wounds, Burns) and Forecasts to 2027

The global wound care biologics market is valued at an estimated USD 1.8 billion in 2022 and is projected to reach USD 2.4 billion by 2027, at a CAGR of 5.4% during the forecast period. Market growth is driven by factors such as the growing incidence of burn injuries and the rising number of road accidents and associated traumatic wounds. However, the high cost of wound care biologic products and the risk associated with skin substitute failure are the major factors hampering the growth of this market.

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"The biological skin substitutes segment accounted for the highest growth rate in the wound care biologics market, by product, during the forecast period"
The wound care biologics market is segmented into biological skin substitutes and topical agents. The biological skin substitute is expected to register the highest growth rate during the forecast period. Factors such as the increasing burden of surgical & traumatic wounds and the increase in burn injuries are contributing to the growth of this segment.

"Hospitals segment accounted for the highest CAGR"
Based on end-users, the wound care biologics market is segmented into hospitals, ambulatory surgery centers, and burn care centers & wound clinics. The hospitals segment is expected to register the highest CAGR during the forecast period. Extended hospital stays or readmissions of patients with chronic conditions have increased the adoption of various wound care biologic products. The increasing incidence of hospital-acquired wounds is a key growth driver for this market segment. Also, the adoption of wound care biologic products is higher in hospitals, owing to their higher purchasing power, highly skilled healthcare professionals, and access to technologically developed surgical facilities.

"The Asia Pacific market is expected to grow at the highest CAGR during the forecast period"
The global wound care biologics market is segmented into five regions - North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. The Asia Pacific region is expected to witness the highest growth in the wound care biologics market during the forecast period. The high growth in this region can primarily be attributed to the increasing prevalence of diabetes, rising healthcare spending, growing per capita income, the expansion of private-sector hospitals to rural areas in various APAC countries, increasing medical tourism, and the presence of high-growth markets. The low labor costs and favorable regulatory environment in the region are also expected to propel market growth.

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The primary interviews conducted for this report can be categorized as follows:
• By Company Type: Tier 1 - 40%, Tier 2 - 30%,and Tier 3 -30%
• By Designation: C-level - 27%, D-level - 18%, and Others - 55%
• By Region: North America -51%, Europe - 21%, Asia Pacific - 18%, Latin America - 6%, and the Middle East & Africa - 4%

Lists of Companies Profiled in the Report:
• Smith & Nephew plc (UK)
• Organogenesis Inc. (US)
• MIMEDX (US)
• Integra LifeSciences (US)
• Stryker Corporation (US)
• Mölnlycke Health Care AB (Sweden)
• Vericel Corporation (US)
• Bioventus LLC (US)
• Anika Therapeutics, Inc. (US)
• AbbVie Inc. (US)
• Kerecis (Iceland)
• Marine Polymer Technologies, Inc. (US)
• Merakris Therapeutics (US)
• PolyMedics Innovations GmbH (Germany)
• FibrohealWoundcarePvt. Ltd. (India)
• Anamay Biotech, Inc. (India)
• Virchow Biotech Private Limited (India)
• Medline Industries, LP (US)
• Tides Medical (US)
• Viscus Biologics LLC (US)
• Stability Biologics (US)
• MTF Biologics (US)
• Skye Biologics Holdings, LLC (US)
• AlloSource (US)
• SurgiLogix (US)

Research Coverage:
This report provides a detailed picture of the global wound care biologics market. It aims at estimating the size and future growth potential of the market across different segments, such as product, wound type, end-user, and region. The report also includes an in-depth competitive analysis of the key market players, along with their company profiles, recent developments, and key market strategies.

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Key Benefits of Buying the Report:
The report will help market leaders/new entrants by providing them with the closest approximations of the revenue numbers for the overall wound care biologics market and its sub-segments. It will also help stakeholders better understand the competitive landscape and gain more insights to better position their business and make suitable go-to-market strategies. This report will enable stakeholders to understand the market's pulse and provide them with information on the key market drivers, restraints, and opportunities.

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This release was published on openPR.