A recent report published by
Infinium Global Research on the wound biologics market provides an in-depth analysis
of segments and sub-segments in the global as well as regional wound biologics
market. The study also highlights the impact of drivers, restraints, and macro
indicators on the global and regional wound biologics market over the short
term as well as the long term. The report is a comprehensive presentation of
trends, forecast and dollar values of the global wound biologics market. According
to the report, the global wound biologics market is projected to grow at a CAGR
of more than 5.5% over the forecast period of 2022-2028.
The global wound biologics market
was valued at about USD 2 billion in 2022 and is expected to reach USD 2.9 billion in 2028, with a CAGR of more than 5.5% during the forecast period. Wound
healing is an integrated process that involves the synchronization and
activation of extracellular and intracellular elements. The wound is recovered
with the help of the reproduction of scar formation. Utilization of wound
biologic healing in re-establishment of the natural repair appliances, such as
plant-derived which reveal antimicrobial, and anti-inflammatory attributes,
will propel the growth of the market. Increasing burn injury cases globally
will drive market growth. Furthermore, the fast recovering ability of the
wound biologics will enhance the growth during the forecast period. As per the
World Health Organization, approximately 1,80,000 deaths are caused annually
due to burns. To reduce the number of deaths that happened to burn wound
biologics technology is used which will drive the market growth.
The frequent occurrence of skin
diseases, chronic wounds, rising incidences of burns, and harmful accidences
are the factors driving the growth of the wound biologics market worldwide. In
addition, the rising demand for advanced biologics in wound care treatment
owing to the high-efficiency rate is projected to boost the growth of the wound
biologics market over the forecast period. According to Global Diabetes
Community, 422 million adults are living with diabetes worldwide, which is
expected to increase to 642 million by 2040. However, the high cost of biologics
and possible complications after undergoing wound biologics treatment may
restrain the market growth. Moreover, increasing demand for innovative products
for treatment is expected to create more opportunities for this market.
The outbreak of COVID-19 had
positive and negative impacts on the wound biologics market during the forecast
period. The lockdown hampered the growth of the market because of the trade
restriction imposed by various countries in the earlier phase of the pandemic.
As the technology is used to treat diabetes patients the growth of the market
was increasing rapidly. Furthermore, increasing healthcare systems to treat
chronic disease patients increased the utilization of the technology during the
covid-19 pandemic. However, decrease in burn patients during the covid-19
pandemic due to strict lockdown the growth of the market was hampered during
the forecast period.
Based on the region, the worldwide
wound biologics market is segmented into the Asia Pacific, North America,
Europe, and also the Middle East & Africa. Among the regions, North America
is the largest region in the wound biologics market owing to its wide use in
the healthcare industry. The increasing incidence of chronic syndromes and rising
demand for recombinant factors are expected to enhance the growth of the market
within the North American region during the forecast period. However, The Asia
Pacific region is anticipated to dominate the expansion of the market because
of the increasing prevalence of diabetes patients during the forecast period.
The report on the global wound
biologics market covers segments such as product type, wound type, and end
user. On the basis of product type, the sub-markets include skin substitutes,
growth factors, and others. On the basis of wound type, the sub-markets include
chronic, and acute. On the basis of end user, the sub-markets include
hospitals, and clinics.
The report provides profiles of
the companies in the market such as Smith and Nephew plc, Organogenesis, Wright
Medical Group, Misonix, Marine Polymer Technologies, Inc., Molnlycke Health
Care AB, Osiris Therapeutics, Inc., Integra Lifesciences Holdings Corporation,
Cytori Therapeutic, and Vericel Corporation.
The report provides deep insights
into demand forecasts, market trends, and micro and macro indicators. In
addition, this report provides insights into the factors that are driving and
restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis
given in the report brings insight into the investment areas that existing
or new market players can consider. The report provides insights into the
market using analytical tools such as Porter's five forces analysis and DRO
analysis of the wound biologics market. Moreover, the study highlights current
market trends and provides forecast from 2022-2028. We also have highlighted
future trends in the market that will affect the demand during the forecast
period. Moreover, the competitive analysis given in each regional market brings insight into the market share of the leading players.