Dublin, June 10, 2024 (GLOBE NEWSWIRE) -- The "Wound Skin Substitutes Market - A Global and Regional Analysis: Focus on Region, Country-Level Analysis, and Competitive Landscape - Analysis and Forecast, 2023-2030" report has been added to ResearchAndMarkets.com's offering.
The global wound skin substitutes market, valued at $1.18 billion in 2022, is on a robust growth trajectory and is anticipated to reach $2.06 billion by 2030, expanding at a compound annual growth rate (CAGR) of 7.35% between 2023 and 2030. Driven by the increasing prevalence of chronic wounds such as diabetic foot ulcers, pressure ulcers, and venous leg ulcers, the market is witnessing a surge in demand for innovative and effective wound healing solutions.
Technological advancements in biomaterials and the development of more efficient skin substitute products are further fueling this growth. Moreover, the rising geriatric population, which is more prone to chronic conditions, and the expanding capabilities of healthcare infrastructures globally are significant contributors to the market's expansion. This growth has also been supported by a growing focus on improving patient outcomes and reducing the overall healthcare costs associated with chronic wounds.
The global wound skin substitutes market has been dominated by North America, which held a 78.12% share in 2022. This significant share can be attributed to several factors, including an aging population, the steep rise in the prevalence of obesity that is heavily correlated to diabetes, and the late effects of radiation therapies. These factors have further boosted the adoption of wound skin substitutes among patients, thereby boosting revenue growth.
Asia-Pacific, Europe, and Latin America regions are expected to witness significant growth in the wound skin substitutes market due to a surge in the incidence rate of chronic wounds, technological advancements leading to the development of innovative products, and increasing healthcare expenditure.
Recent Developments in the Wound Skin Substitutes Market
- In July 2023, Coloplast announced an agreement to acquire Kerecis for up to $1.3 billion. Kerecis has pioneered patented technology for treating wounds and burns by utilizing unaltered fish skin.
- In April 2023, Coloplast (Kerecis) announced MariGen Shield, which integrates the company's proven fish-skin graft with a silicone contact layer for treating chronic and complex wounds.
- In January 2023, Coloplast (Kerecis) announced the release of two new products for the burn market, GraftGuide Mano and GraftGuide Micro. This latest innovation is a specialized fish skin product tailored for treating burns specifically on the hand.
- In January 2022, Researchers from the University of Birmingham and the University of Huddersfield, UK, developed a new 3D bioprinting technique that could be used to treat chronic wounds.
- In October 2021, Coloplast (Kerecis) received authorization from the FDA to market Kerecis Omega3 SurgiBind. This implant is a fish-skin graft that can be implanted for plastic and reconstructive surgical procedures.
Key Market Players and Competition Synopsis
The competitive landscape of the wound skin substitutes market has been characterized by the presence of several key players, each offering a range of specialized products. Coloplast, for instance, has made significant strides with products such as MariGen Shield, GraftGuide Mano, and GraftGuide Micro, which are tailored to address various aspects of wound care, particularly burns and complex wounds. The companies are not only innovating in product development but also expanding their market reach and setting industry standards in the treatment of complex wounds. This dynamic competitive environment underscores the continuous evolution and technological advancement within the wound care industry.
Some prominent names established in this market are:
- Coloplast
- Smith & Nephew
- MTF Biologics
- MiMedx Group, Inc
- AlloSource
- Organogenesis Inc.
- RTI Surgical
- LifeNet Health
- Molecular Biologicals, Inc
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 41 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $1.25 Billion |
| Forecasted Market Value (USD) by 2030 | $206 Billion |
| Compound Annual Growth Rate | 735.0% |
| Regions Covered | Global |
Key Topics Covered:
Executive Summary
1 Market
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 Regions
2.1 Regional Summary
2.2 North America
2.2.1 U.S.
2.2.2 Canada
2.3 Europe
2.3.1 Germany
2.3.2 U.K.
2.3.3 France
2.3.4 Italy
2.3.5 Spain
2.3.6 Turkey
2.3.7 Netherlands
2.3.8 Russian Federation
2.3.9 Switzerland
2.3.10 Poland
2.3.11 Austria
2.3.12 Czech Republic
2.3.13 Sweden
2.3.14 Romania
2.3.15 Ireland
2.3.16 Belgium
2.3.17 Greece
2.3.18 Portugal
2.3.19 Norway
2.3.20 Slovakia
2.3.21 Denmark
2.3.22 Ukraine
2.3.23 Finland
2.4 Asia-Pacific
2.4.1 China
2.4.2 Japan
2.4.3 India
2.4.4 South Korea
2.4.5 Australia
2.4.6 Thailand
2.4.7 Malaysia
2.5 Latin America
2.5.1 Brazil
2.5.2 Mexico
2.5.3 Argentina
2.5.4 Colombia
2.5.5 Chile
2.6 Rest-of-the-World
3 Markets - Competitive Benchmarking
3.1 Key Strategies and Developments
3.2 Key Companies Ecosystem
For more information about this report visit https://www.researchandmarkets.com/r/hvkwfm
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
