The global Biologics Wound Care Products Market size is expected to reach USD 3.71 Billion by 2028 at a CAGR of 10.1%, according to the latest report by Reports and Data. Increasing incidence of chronic injuries such as diabetic foot ulcers and burn injuries, rising focus on advancement of treatment options, and growing burden of diseases across the globe are key factors expected to drive market revenue growth over the forecast period. In addition, increasing use of temporary skin substitutes and growing focus of pharmaceutical and biotechnology companies to develop advanced biologics are some other factors expected to contribute to revenue growth of the market going ahead.
Biologic wound healing therapies aim to accelerate the re-establishment of tissue repair mechanisms through the application of active biological agents that have antioxidant, antimicrobial, or anti-inflammatory attributes. Biologic dressings prevent water loss, heat loss, and protein and electrolyte loss and minimizes the risks of contamination. Wound care biologics accelerate wound closure and optimizes wound healing environment. Over the last decade, rapid advancement in understanding wounds and their pathophysiology have led to significant innovations in treatment of acute, chronic, and other wounds.
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The pharma and healthcare industry is expected to observe significant growth over the coming years attributed to the increasing incidence of chronic diseases across the globe, growing geriatric patient pool, availability of advanced and minimally invasive surgical and diagnostics procedures, favorable reimbursement scenario, and presence of a robust product pipeline of drugs and therapeutics. In addition, growing integration of IoT, ML, and AI in medical procedures and equipment along with rapid progress in drug design and development. Combination of innovation and technology has brought about massive changes in the healthcare industry and the rapid adoption of telemedicine, remote consultation, and e-prescription have significantly contributed to the revenue growth of the market.
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Asia Pacific is expected to lead the market growth over the coming years owing to rapid advancements in healthcare sector in APAC countries such as India, China, and Japan. North America is anticipated to register highest market growth over the forecast period attributed to increasing availability of robust healthcare and clinical settings, legalization of medical marijuana, favorable reimbursement scenario, presence of key market players, and rapid technological advancements in the region.
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Some Key Highlights from the Report:
- Biologic skin substitutes segment is expected to account for largest revenue share in the global market over the forecast period owing to increasing preference for skin substitutes in treatment of chronic and severe wounds and their improved efficiency of wound closure.
- Ulcers segment revenue is expected to expand significantly over the forecast period owing to growing demand for wound care biologics due to increasing incidence of diabetic foot ulcers.
- North America accounted for the largest revenue share in the global market in 2020 and is expected to register significant revenue growth over the forecast period owing to rapid availability wide range of wound care biologics products, rising prevalence of diabetes and diabetic foot ulcers, and robust presence of key players in the region.
- Major companies in the market include Smith & Nephew, Mölnlycke Health Care AB, Integra LifeSciences Corporation, Wright Medical, MiMedx Group, Vericel Corporation, Anika Therapeutics, Osiris Therapeutics, Organogenesis, Kerecis, Solsys Medical, ACell, Lavior Inc., and Marine Polymer Technologies, Inc.
- In May 2021, VIVEX Biologics, Inc. which is a prominent leader in regenerative medicine, announced the launch of VIAGENEX. The product is a family of amniotic allografts processed to maintain the inherent mechanical properties of amniotic tissue which can be used as a soft tissue barrier and wound covering in various applications such as wound care, burn care, oral surgery, and knee and tendon repair, among others.
For the purpose of this report, Reports and Data has segmented the Biologics Wound Care Products Market on the basis of type, application, and region:
Type Outlook (Revenue, USD Million; 2018–2028)
- Biologic Skin Substitutes
- Enzyme Based Formulations
- Growth Factors
Application Outlook (Revenue, USD Billion; 2018-2028)
- Acute Wounds
- Chronic Wounds
- Surgical Wounds
Regional Outlook (Revenue, USD Billion; 2018-2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- BENELUX
- Rest of APAC
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of Latin America
- Middle East & Africa
- U.A.E.
- Saudi Arabia
- South Africa
- Rest of MEA
Growing popularity of over-the-counter medications driving market growth
Growing incidence of acute and chronic diseases and lesser access to advanced medical facilities owing to low disposable income levels are driving the demand for over-the-counter medications. Availability of generic and low-cost alternatives to medical therapies are some other factors playing a major role in driving demand for over-the-counter medications.
Restriction on product launches and R&D activities to hamper market growth
Imposition of strict government regulations and shortage of funds have put a halt on the product launches and R&D activities and are expected to restrain market growth over the forecast period. In addition, launch of expensive drugs and therapies and increasing regulations regarding safety and approvals are also hampering market growth.
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