Wound Care Biologics Market Observes an Outstanding Growth in Revenue of US$ 2.3 Billion by 2025 with CAGR of 6.9%

 

Wound Care Biologics Market

During the anticipated years, North America is anticipated to control the wound care biologics market. This is primarily related to the region's increased burn injury cases and diabetes population growth. Furthermore, one of the major factors anticipated to support the expansion of the advanced Wound Care Biologics Market in the upcoming years is the rising incidence of a number of lifestyle conditions that result in chronic wounds, such as diabetic foot ulcers, venous leg ulcers, and pressure ulcers.

The Wound Care Biologics Market is crowded with major international players. For instance, these goods are sold all over the world by ACell Inc., Integra LifeSciences Corporation, Kerecis, Marine Polymer Technologies Inc., MiMedx Inc., Misonix, Inc., Mölnlycke Health Care, Smith & Nephew PLC, and Wright Medical Group NV.

Given that diabetic patients are more likely to develop diabetic ulcers, the market for wound care biologics is anticipated to grow significantly with the growth in the prevalence of diabetes worldwide. According to the Global Diabetes Community, 642 million adults will have diabetes worldwide by 2040, up from an estimated 422 million in 2017. Peripheral neuropathy, foot ulceration, and peripheral arterial disease (PAD) are twice as common in diabetic patients as they are in non-diabetics, affecting 30% of diabetics aged 40 and older, according to the Journal of Foot and Ankle Surgery, 2016. This has led to an increase in the burden of diabetic complications.

Additionally, according to the Advances in Wound Care Journal from 2015, 15% to 20% of people with diabetes are likely to experience chronic, non-healing foot sores. In order to manage chronic wounds affordably and lessen the financial burden of the patients, wound care biologic products are offered to them.

The high cost of skin substitutes and associated biologics, however, is a significant barrier to the Wound Care Biologics Market expansion. For instance, the Advances in Skin Substitutes Journal (2014) estimates that the cost of using Epicel to cover 1% of a body's surface area will be more than $13,000. As a result, alternative and less expensive wound care solutions are used more frequently, which is projected to have a negative impact on market growth.

Over the course of the forecast, Asia Pacific is anticipated to experience considerable expansion in the global Wound Care Biologics Market. The high frequency of diabetes patients in Asian nations is to blame for this. In 2016, the Indian Diabetes Research Foundation estimates that 60% of people with diabetes live in Asia, with China and India accounting for the majority of those cases. The Foundation also notes that Western Pacific reported having more than 138.2 million diabetics, with a projected increase to 201.8 million by 2035.