Seattle, June 20, 2022 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, the Asia Pacific wound care biologics market is estimated to be valued at US$ 296.1 million in 2022 and is expected to exhibit a CAGR of 7.6% during the forecast period (2022-2030).
Key Trends and Analysis of the Asia Pacific Wound Care Biologics Market:
Key trends in the market includes recent approvals for products by major companies operating in the market which is expected to drive the Asia Pacific wound care biologics market growth over the forecast period. For instance, in June 2021, MIMEDX Group, Inc., an industry leader in utilizing amniotic tissue as a platform for regenerative medicine, announced successful regulatory approval by the Japanese Ministry of Health, Labour and Welfare (MHLW) to market EPIFIX in Japan. EPIFIX, a bioabsorbable, human amniotic membrane allograft, is applied to affected areas for wound healing.
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Key Market Takeaways:
The Asia Pacific wound care biologics market is expected to exhibit a CAGR of 7.6% during the forecast period due to the rising prevalence of diabetes in Asia Pacific. For instance, according to an article published in BioMed Central in February 2021, it was estimated that in Singapore, over 400,000 Singaporeans live with the disease. The lifetime risk of developing diabetes is one in three among Singaporeans, and the number of those with diabetes is projected to surpass one million by 2050.
Among product type, the biologic skin substitutes segment is estimated to hold a dominant position in the Asia Pacific wound care biologics market over the forecast period, due to key market players focusing on growth strategies such as product launch. For instance, in September 2017, Amnio Technology, LLC, a leading manufacturer of advanced regenerative allografts derived from human amniotic tissues, announced the expansion of its product line with the launch of PalinGen InovōFlo. PalinGen lnovōFlo is a minimally manipulated liquid allograft derived from human amniotic fluid and intended for homologous use to supplement tissue for protection, cushioning, and lubrication.
On the basis of application, the chronic wounds segment is estimated to hold a dominant position in the Asia Pacific wound care biologics market over the forecast period, due to key market players focusing on product approvals. For instance, in June 2018, MediWound Ltd., a fully-integrated biopharmaceutical company bringing innovative therapies to address unmet needs in severe burn and wound management, announced the receipt of authorization from the Ministry of Health in South Korea to market and distribute NexoBrid, an enzyme-based formulation for the removal of dead or damaged tissue, known as eschar, in adults with deep partial and full-thickness thermal burns.
Competitive Landscape:
Key players operating in the Asia Pacific wound care biologics market are Smith & Nephew Plc, Organogenesis, Inc., Integra LifeSciences Holdings Corporation, Skye Biologics, Alphatec Holdings, Inc., Solsys Medical LLC, Amnio Technology LLC, Osiris Therapeutics, Inc., Anika Therapeutics, Inc., Zimmer Biomet, Wright Medical Group N.V., and Kerecis.
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Market Segmentation:
Detailed Segmentation:
- Asia Pacific Wound Care Biologics Market, By Product Type:
- Biologic Skin Substitutes
- Enzyme Based Formulations
- Growth Factors
- Asia Pacific Wound Care Biologics Market, By Application:
- Chronic Wounds
- Diabetic Foot Ulcers
- Venous Leg Ulcers
- Pressure Ulcers
- Acute Wounds
- Surgical Wounds
- Burns
- Chronic Wounds
- Asia Pacific Wound Care Biologics Market, By End User:
- Hospitals
- In-patient Settings
- Out-patient Settings
- Clinics
- Ambulatory Surgical Centers
- Home Care Settings
- Hospitals
- Asia Pacific Wound Care Biologics Market, By Country:
-
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of APAC
Related Market Intelligence Reports:
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 - Global Industry Insights, and Forecast to 2025
Colombia Wound Care Biologics Market, by Product Type (Biologic Skin Substitutes, Enzyme Based Formulations, and Growth Factors), by Application (Chronic Wounds (Diabetic Foot Ulcer, Venous Leg Ulcer, and Pressure Ulcer) and Acute Wounds (Surgical Wounds and Burns)), by End User (Hospitals, Clinics, Ambulatory Surgical Centers, and Home Care Settings) - Size, Share, Outlook, and Opportunity Analysis, 2022 – 2028
Biologics Market, by Drug Class (Monoclonal Antibody, Vaccine, Recombinant Insulin, Human Growth Hormone, Blood Factor, Fusion Protein, Erythropoietin, Recombinant Enzyme, Interferon, Colony-stimulating Factor, Cell Therapy, Gene Therapy, Oligonucleotides and Others (Peptide, Botulinum Toxin, and Others)), by Therapeutic Application (Oncology, Metabolic Disorders, Autoimmune/Immunologic Diseases, Ophthalmic Diseases, Inflammatory Bowel Diseases (IBDs), Respiratory Disorders, Neurological Disorders, Musculoskeletal Disorders (MSDs), Cardiovascular Diseases (CVDs), Infectious Diseases, and Others), by Distribution Channel (Hospitals Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2019 - 2027
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