Wound Care Biologics Market worth $2.4 billion by 2027 – Exclusive Report by MarketsandMarkets™
According to the new market research report “Wound Care Biologics Market by Product (Biological Skin Substitutes, Topical Agents), Wound Type (Ulcers [Diabetic Foot, Venous, Pressure Ulcers], Surgical & Traumatic Wounds, Burns), End User (Hospitals, ASCs, Burn Centers) – Global Forecast to 2027″, published by MarketsandMarkets™, the 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%.
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the wound care biologics market is driven by the increasing prevalence of diabetes and growing number of surgical procedures and associated infections. Emerging economies such as China, Japan, and India are providing lucrative opportunities for the players operating in the market.
The ulcers segment accounted for the largest share of the wound care biologics market, by wound type segment, in 2021
Based on wound type, the wound care biologic market is segmented into ulcers, surgical & traumatic wounds, and burns. The ulcers segment accounted for the largest share of the wound care biologic market in 2021. Ulcers segment is further segmented into diabetic foot ulcers (DFUs), pressure ulcers, venous ulcers, and other ulcers. The diabetic foot ulcers segment accounted for the largest share of the market for ulcers in 2021. The key drivers for market growth are the growing patient pool for these conditions, the need for advanced technologies for treatment, and the lengthy healing process associated with these conditions.
Hospitals segment to register the highest growth rate during the forecast period
The wound care biologics market is segmented into hospitals, ambulatory surgery centers, and burn care centers & wound clinics. In 2021, hospitals segment accounted for the highest growth rate. The increasing number of severe burn cases and rising awareness about advanced burn care treatments are driving the growth of the hospitals segment.
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North America is the largest regional market for wound care biologics market
The global wound care biologic market has been segmented into five major regions—North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. In 2021, North America accounted for the largest share of the market. The large share of this region can be attributed to the highly developed healthcare systems in the US and Canada. Growing healthcare expenditure is also one of the major drivers for the hospital sector in the region. This is considered a positive indicator of market growth, as hospitals are the major end users of wound care biologics products.
The major players operating in this wound care biologics market are are 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), and Kerecis (Iceland).
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