Dublin, June 06, 2024 (GLOBE NEWSWIRE) -- The "Wound Biologics Market - A Global and Regional Analysis: Focus on Product, Region, Country-Level Analysis, and Competitive Landscape Analysis and Forecast, 2023-2030" report has been added to ResearchAndMarkets.com's offering.
The global wound biologics market was valued at $1.85 billion in 2022 and is anticipated to grow to $3.32 billion by the end of 2030. This market is expected to expand at a compound annual growth rate (CAGR) of 7.71% between 2023 and 2030.
Such growth is being experienced by the wound biologics market, owing to increasing demand for treating wounds and burn injuries. Drivers of this growth include the rising incidence of burn injuries, the expanding prevalence of diabetic foot ulcers and pressure ulcers, and government-led initiatives aimed at enhancing wound care treatments.
Wound biologics can include growth factors, extracellular matrices, cellular therapies, and bioengineered skin substitutes, all aimed at promoting the natural healing processes of the body to achieve better wound closure and tissue repair. One recent development that has taken place in the market was in March 2023 when BioTissue completed a facility expansion and renovation in Doral, Florida, to support the growing demand and future expansion of its biologics product portfolio.
Market Segmentation:
Skin Substitutes to Lead the Global Wound Biologics Market (by Product)
- Based on product, the wound biologics market is led by skin substitutes, which held a 63.78% share in 2022.
Segmentation by Region
- Regionally, North America maintains a dominant position, and it is expected to grow through a steady compound annual growth rate (CAGR) of 6.66% from 2023 to 2030. This sustained growth can be attributed to the region's advanced healthcare infrastructure, widespread awareness of wound management, and a notable increase in chronic wounds among its aging populace.
- The emphasis on R&D in North America has also facilitated the emergence of innovative wound biologics products, supported by a strong regulatory environment and healthcare policies favouring advanced wound care solutions. The emphasis on R&D in North America has also facilitated the emergence of innovative wound biologics, supported by a strong regulatory environment and healthcare policies favouring advanced wound care solutions.
- Asia-Pacific and the Rest-of-the-World regions are projected to experience the highest growth rates, with CAGRs of 11.49% and 11.29%, respectively, indicating a rapidly expanding market presence. The growth in these regions is likely driven by improving healthcare infrastructure, rising awareness of effective wound care, and increasing accessibility to advanced medical treatments. Overall, the wound biologics market globally has been characterized by regional growth patterns influenced by healthcare advancements, demographic shifts, and a collective focus on improving wound care outcomes.
Recent Developments in the Wound Biologics Market
- In May 2023, Cellularity disclosed a significant purchase order amounting to $45 million in accordance with the first private label agreement in the Middle East for Cellularity Inc.'s halal-certified biomaterial products. The products, namely Biovance, Biovance 3L, Interfyl, and CentaFlex have obtained halal certification.
- In January 2022, Gunze Limited announced the commencement of Epiflex sales by Gunze Medical Limited, marking the first and only approved product available in Japan. It is important to note that Epiflex is a registered trademark of MiMedx Group, Inc.
Key Market Players and Competition Synopsis
The global competitive landscape of the wound biologics market is defined by the presence of several key players, each contributing to the market's growth through innovation, business expansion, funding, strategic partnerships, and a focus on expanding product portfolios. Leading companies in this space are distinguished by their commitment to research and development, which enables them to introduce advanced wound care solutions that address a range of needs, from basic wound protection to complex wound management scenarios.
Some prominent names established in this market are:
- AlloSource
- LifeNet Health
- Smith & Nephew
- Sanara MedTech
- Mtf Biologics
- Becton, Dickinson
- MiMedx Group
- TissueTech
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 56 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $1.97 Billion |
| Forecasted Market Value (USD) by 2030 | $3.32 Billion |
| Compound Annual Growth Rate | 7.7% |
| Regions Covered | Global |
Key Topics Covered:
Executive Summary
1 Markets
1.1 Product Definition
1.2 Inclusion and Exclusion Criteria
1.3 Key Questions Answered
1.4 Analysis and Forecast Note
1.5 Key Findings
2 Products
2.1 Product Segmentation
2.2 Product Summary
2.3 Global Wound Biologics Market (by Product Type)
2.3.1 Growth Factors
2.3.2 Skin Substitutes
2.3.3 Topical Agents
3 Regions
3.1 Regional Summary
3.2 North America
3.2.1 U.S.
3.2.2 Canada
3.3 Latin America
3.3.1 Argentina
3.3.2 Brazil
3.3.3 Chile
3.3.4 Colombia
3.3.5 Mexico
3.4 Europe
3.4.1 France
3.4.2 U.K.
3.4.3 Spain
3.4.4 Italy
3.4.5 Portugal
3.4.6 Netherlands
3.4.7 Ireland
3.4.8 Belgium
3.4.9 Switzerland
3.4.10 Norway
3.4.11 Denmark
3.4.12 Sweden
3.4.13 Finland
3.4.14 Germany
3.4.15 Czech Republic
3.4.16 Russia Federation
3.4.17 Poland
3.4.18 Austria
3.4.19 Romania
3.4.20 Slovakia
3.4.21 Greece
3.4.22 Turkey
3.4.23 Ukraine
3.5 Asia-Pacific
3.5.1 Australia
3.5.2 Japan
3.5.3 Malaysia
3.5.4 China
3.5.5 India
3.5.6 Thailand
3.5.7 South Korea
3.6 Rest-of-the-World
4 Markets - Competitive Benchmarking
4.1 Key Strategies and Developments
4.2 Key Companies Ecosystem
5 Research Methodology
For more information about this report visit https://www.researchandmarkets.com/r/mru1ik
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