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.
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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.
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Wound Biologics Market Segmentation
Grand View Research has segmented the wound biologics market report on the basis of product, wound type, end use, and region:
Product Outlook (Revenue, USD Million; 2015 - 2026)
• Biological Skin Substitutes
o Allograft
o Xenograft
o Biosynthetic Products
• Topical Agents
• Collagen Dressing
Wound Type Outlook (Revenue, USD Million; 2015 - 2026)
• Chronic Wounds
• Acute Wounds
End-use Outlook (Revenue, USD Million; 2015 - 2026)
• Hospitals
• Clinics
• Others
Regional Outlook (Revenue, USD Million; 2015 - 2026)
• North America
o U.S.
o Canada
• Europe
o UK
o Germany
• Asia-Pacific
o Japan
o China
• Latin America
o Brazil
o Mexico
• MEA
o South Africa
o Saudi Arabia
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.