Wound Biologics Market Know The Key Areas For Investments 2017 - 2025
The skin is one of the most vital organs in the human body. The skin acts as a protective barrier between the external environment and the environment inside the body. The skin helps preserve moisture in the body. The skin controls the body temperature. Also, it regulates the body temperature through sweating. The skin shields the body from harmful bacteria. The skin has several nerve ends, which help in responding to pressure, heat, touch, pain, and cold. Wound healing is a complex process that involves the activation and synchronization of intracellular, intercellular, and extracellular elements. Wound healing comprises various processes such as coagulation and inflammation events, fibrous tissue accumulation, deposition of collagen, epithelialization (formation of covering of the epithelial cells), wound size reduction, formation of granulation tissue, and restoration.
Generally, wound is healed with tissue regeneration and scar formation. Disruptions of a wound are caused by insufficient blood flow, tissue damage, and comorbid disease states can lead to a chronic wound that is difficult to manage. Various latest advancements have occurred in the wound healing technology including skin substitutes, biologics, scaffolds, and bio-membranes.
Biologic wound healing treatments are intended to facilitate the restoration of the natural repair mechanism. They may comprise active biological agents such as plant-derived active biomolecules that exhibit antimicrobial, antioxidant, or anti-inflammatory properties. The global wound biologics market has been segmented based on product type, wound type, and geography. In terms of product type, the wound biologics market has been categorized into biologic skin substitutes, enzyme-based formulations, and growth factors. Biologic skin substitutes have a wide range of applications. The segment is expected to hold a leading share of the wound biologics market in the near future. Based on wound type, the wound biologics market has been segmented into acute wounds, chronic wounds, and surgical wounds.
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Geographically, the global wound biologics market has been classified into five regions viz. North America (U.S. and Canada), Europe (Germany, France, U.K., etc.) and Asia Pacific (China, Japan, Australia, India, etc.), Latin America (Brazil and Mexico), and Middle East & Africa (the UAE, Saudi Arabia, and South Africa). In 2016, North America was a leading market for wound biologics, in terms of revenue, owing to increasing prevalence of chronic diseases and rising demand for recombinant factors. North America was followed by Europe in same year. The market in North America is expected to register a high growth during the forecast period. Emerging markets such as Asia Pacific, Latin America, and Middle East & Africa are expected to witness high growth from 2017 to 2025 due to growing health care industry and increased patient population in these regions. Among developing countries, the market in China, Brazil, and India is expected to witness robust growth between 2017 and 2025, due to increasing investments by governments of these countries to improve health care facilities.
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The global wound biologics market is expected to be driven by rising prevalence of chronic wounds such as diabetic foot ulcers, leg ulcers, and pressure ulcers; increasing incidence of burns; and growing number of fire accidents. Apart from this, increase in harmful accidents involving use of acid, rise in the prevalence of skin diseases, and surge in the number of body surgeries are likely to fuel the global wound biologics market during the forecast period. However, inadequate availability of clinical data and limited regulatory product approvals act as restraints for the market.
Major players operating in the global wound biologics market are Avita Medical, Integra LifeSciences Corporation, ConvaTec Group plc, Cytori Therapeutics, Inc., Mylan N.V., Molyncke Health Care, Johnson & Johnson, Leap Therapeutics, Inc., Smith & Nephew, Nuo Therapeutics, Inc., Osiris Therapeutics, Inc., and Mallinckrodt plc.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
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