Market Trends of Global Wound Care Biologics Industry
This section covers the major market trends shaping the Wound Care Biologics Market according to our research experts:
The Biological Skin Substitutes Segment is Expected to Witness Better Growth Over the Forecast Period
The biological skin substitutes segment is expected to witness better growth due to their wide usage in the treatment of chronic wounds. These skin substitutes have an intact extracellular matrix for structural support. According to the study titled "The Role of Advanced Biologics (Skin Substitutes) in Wound Healing" published in The Wound docs in December 2021, biological skin substitutes which are reasonably priced and easy to come by also permit significant re-epithelialization. Allografts from cadavers, amnion, and porcine skin xenografts are some of the most frequently used biological skin substitutes.
Biological skin substitutes are majorly recommended for burn injuries and injury from road accidents and for treatment of chronic wounds, such as diabetic foot ulcers and venous leg ulcers. According to the study titled 'Editorial: Understanding Diabetic Foot Disease: Current Status and Emerging Treatment Approaches' published in the Frontier in Endocrinology in September 2021, the annual incidence of diabetic foot ulceration is 2.2%, and the lifetime risk of foot ulceration among diabetics is up to 34 %. Within a year, the recurrence rate of diabetic foot ulcers (DFU) can reach up to 40%. 50-60% of foot ulcer patients survive five years after their initial presentation. Chronic wounds lead to complications, such as infection, ulceration, and insufficient blood supply.
Furthermore, new product launches will also favor the overall segment growth over the forecast period. For Instance, in February 2020, Integra LifeSciences has unveiled the Amnio Excel Plus Placental Allograft Membrane. It is their most recent offering in terms of wound care, and it supports soft tissue repair. Additionally, in July 2022, StimLabs, LLC one of the leader in regenerative technologies and products that are revolutionizing patient care through innovation and personalized solutions, has launched a new placental membrane-based product, Enverse used for acute and chronic wound.
Hence, the increasing burden of diabetes and the growing adoption of these products are the major factors propelling the growth of the wound care biologics market.
North America Dominates the Wound Care Biologics Market
North America is expected to dominate the wound care biologics market during the forecast years. This is mainly attributed to the growing diabetic population and the rising number of burn injury cases in the region. Furthermore, the growing prevalence of several lifestyle disorders leading to chronic wounds, such as diabetic foot ulcers, venous leg ulcers, and pressure ulcers is one of the key factors estimated to encourage the growth of the advanced wound care management market in the coming years. According to Mission Regional Medical Center in May 2021, more than 29 million people have diabetes in the United States and almost 2 million of those people annually will develop a diabetic foot ulcer or another non-healing wound. Moreover, according to the Center for Disease Control and Prevention Updates in January 2022, 1 in 10 Americans, or 37.3 million people, have diabetes. more than one in three American adults (96 million) have prediabetes. As a result, the rising incidence of diabetes, which is a major risk factor for the development of foot ulcers, and the rising prevalence of diabetes foot in the United States are anticipated to fuel demand for wound care biologics and accelerate the growth of the market during the forecast period.
Additionally, market participants frequently introduce new products and use a variety of growth tactics in their particular segments, which is likely to spur market expansion. For Instance, In March 2022, WoundGenex formed a strategic partnership with MiMedx Group, Inc., a transformational placental biologics company, to launch an exclusive version of WoundGenex's Premier Graft Program for its clients across the country, providing clinicians access to industry-leading allograft products through a convenient purchasing option. additionally, in February 2022, Amniotic tissue allografts provider Amnio Technology expanded its PalinGen membrane product portfolio with the introduction of two new products.
Hence, increased awareness, rapid adoption of new technologies, and increasing chronic wound cases are expected to positively impact market growth in this region.
