Global Wound Care Biologics Market, by Product Type (Biologic Skin Substitutes, Enzyme Based Formulations, and Growth Factors), by Application (Chronic Wounds and Acute Wounds), by End User (Hospitals, Clinics, Ambulatory Surgical Centers, and Home Care Settings), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) was valued at US$ 1,247.1 million in 2016 and is projected to exhibit a CAGR of 6.9% over the forecast period (2017–2025), as highlighted in a new report published by Coherent Market Insights. The wound care biologics market is expected to gain significant traction, owing to the availability of a broad range of approved skin substitutes such as tissue scaffolds, cell-based therapies, and grafts and demand for these from physicians and patients is expected to increase during the forecast period.
Launch of innovative bioengineered products is expected to augment growth the wound care biologics market
Wound care biologics market is expected to exhibit high growth, owing to the rise in geriatric population, as these are more prone to wounds and ulcers, with significantly higher rates of surgical procedures and longer recovery time. According to the Journal of American Geriatric Society, 2015, the incidence of venous leg is three to four times higher for people aged 80 years, and that of pressure ulcers is five to seven times higher for those aged 65–70 years
Moreover, number of biologic skin substitutes are commercially available or in development stage that have clinical and experimental evidence of efficacy in wound healing. For instance, in 2017, the FDA granted Regenerative Medicine Advanced Therapy (RMAT) designation for StrataGraft regenerative skin tissue for treating burn wounds, manufactured by Mallinckrodt Plc., currently under Phase 3 trial.
Manufacturers are focusing on strategic partnerships and collaborations with various institutes and organizations to conduct collaborative research for development of next-generation wound healing biologics. For instance, in October 2017, the Organogenesis, Inc., collaborated with Advanced Medical Solutions Group Plc.—a surgical and advanced wound care products Development Company—as a part of an out-licensing agreement on the U.S. patent for the development of a collagen-based wound dressing containing Polyhexamethylene Biguanide (PHMB).
Browse 38 Market Data Tables and 26 Figures spread through 183 Pages and in-depth TOC on "Wound Care Biologics Market"- Global Forecast to 2025, by Product Type (Biologic Skin Substitutes, Enzyme Based Formulations, and Growth Factors), by Application (Chronic Wounds and Acute Wounds), by End User (Hospitals, Clinics, Ambulatory Surgical Centers, and Home Care Settings), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
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Manufacturers are focusing on developing innovative product formulations to cater to demands of patients and physicians. For instance, in January 2018, Ventris Medical announced the official launch of Cellesta- placental allograft products. The product is shelf-stable and showed stability at ambient temperature and can be used in a variety of applications including general surgery, wound care, urologic, and orthopedic procedures. Also, in 2017, Osiris Therapeutics, Inc. introduced Lyotechnology, which is a novel method for ambient storage of living cells and tissues. This technological innovation has the ability to address the shortcomings of limited shelf-life of the products. In 2017, Amnio Technology LLC introduced PalinGen InvoFlo—a minimally manipulated liquid allograft—to supplement tissue protection, cushioning, and lubrication, thereby providing regenerative therapies to improve quality of life.
Key Takeaways of the Wound Care Biologics Market:
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