Wound Biologics Market Set to Witness an Uptick during 2019 to 2026

Posted by Mrudula Anil Karmarkar on April 19th, 2021

According to the report released by Grand View Research, Inc., factors such as rising incidences of chronic diseases, growing number of surgeries, increasing geriatric population all over and demand boost received due to the COVID-19 pandemic are expected to fuel the market expansion in the coming years.

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 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 have 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.

With Covid-19 infections rising globally, the apprehension regarding a shortage of essential life-saving devices and other essential medical supplies in order to prevent the spread of this pandemic and provide optimum care to the infected also widens. In addition, till a pharmacological treatment is developed, ventilators act as a vital treatment preference for the COVID-19 patients, who may require critical care. Moreover, there is an urgent need for a rapid acceleration in the manufacturing process for a wide range of test-kits (antibody tests, self-administered, and others). The report will account for Covid19 as a key market contributor.

Increasing cases of burn wounds and diabetic foot ulcers all over are pushing the market growth and are expected to keep the momentum up in the forecasted period as well. It has also been corroborated by the report published by the National Center for Biotechnology Information (NCBI), in 2019. It states that 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.

Wound Biologics Market Report Highlights

• Mergers & acquisitions form a major part of market expansion strategy for the key players. For example, in March 2019, Smith & Nephew plc announced its agreement to acquire Osiris Therapeutics Inc. for per share in cash. The transaction represented approximately 0 million in total equity value.
• New product launches help market demands and growth to a great extent. For instance, in December 2018, Smith & Nephew plc launched in Europe the new PICO 7Y Single Use Negative Pressure Wound Therapy System (sNPWT) with AIRLOCK Technology.
• 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.
• In terms of product, 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.
• In terms of end-use, hospital segment held the largest share in 2018 due to the rising cases of burns and accidents.
• In terms of region, 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.

Rising prevalence of chronic & acute wounds and introduction of technologically advanced products are the major factors anticipated to drive the market growth. For instance, in February 2018, researchers at Uppsala University and Saint Louis University (SLU) developed a next generation biologic wound care product, which promotes rapid wound healing by altering the behavior of specific immune cells. Such technologically advanced products are expected to positively impact market growth over the forecast period.

Furthermore, as per data reported by the Centers for Disease Control and Prevention (CDC), in 2018, six out of ten Americans suffer from at least one chronic disease such as cancer, cardiovascular diseases or diabetes. Such high prevalence rate of chronic diseases in the U.S. is the major cause of the high disability and death rates in the country. Cancer is considered to be a healthcare burden in the U.S. as it is one of the leading causes of death in the country. According to the estimates of Cancer Organization, in 2018, cancer was the second leading cause of deaths and about 1,735,350 new cancer cases were registered in the U.S. In addition, nearly 4,700 new cases of cancer are diagnosed each day in the country.

Globally, the number of surgeries are also increasing owing to the rising prevalence of chronic conditions. Wound care products, thus, are increasingly being used to prevent surgical site infections. Most surgical wounds, post cancer surgery, are relatively large in size and are deep, releasing exudates that require regular management. The enzyme-based formulation products helps to manage large wounds, thereby significantly reducing the risk of infection. Thus, the rising incidence of chronic diseases is expected to boost the demand for wound biologics products, thereby propelling market growth globally.

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Few of the prominent market players in the market include Osiris Therapeutics, Integra Lifesciences, and Wright Medical and Smith & Nephew PLC. Key players are adopting various strategies such as merger & acquisitions, product launch, and partnerships to strengthen their position in the industry.

For instance, in April 2019, Smith & Nephew PLC acquired Osiris Therapeutics, Inc., with an aim to accelerate the development of its advanced wound management product portfolio. The initiative was anticipated to expand its customer base. 

Wound Biologics Market Segmentation

Grand View Research has segmented the wound biologics market report on the basis of product, wound type, end use:

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

About GVR:

Grand View Research is an India & U.S. based market research and consulting company headquartered in San Francisco, which offers syndicated research reports, customized research reports, and consulting services. The company's rich database includes in-depth analysis across a range of industries including chemicals, materials, energy, healthcare, and technology, among others.