Worldwide wound care market is anticipated to surpass US $2.5 billion by the year 2025, according to the latest research available at Market Study Report LLC, report provides extensively data on market share, growth, trends and forecasts for the period 2019-2025.
Increasing geriatric population will positively impact the wound care biologics (WCB) market share. Aged population is prone to chronic diseases that increases the demand for surgeries. Widespread usage of wound healing products in post-surgical and surgical procedures will boost the wound care biologics market growth.
Though numerous government initiatives towards reducing the cost of wound care biologics will prove favorable for market outlook, but the shortage of physicians to carry out wound care treatments like tissue engineering and others in underdeveloped nations will impede the WCB market growth over the projected timeframe, claims the report.
According to the research, the WCB market from topical agents segment is expected to grow with a CAGR of 8.9 % over the projected timeframe, owing to its ability to speed up wound healing. Creams, lotions, and ointments fall under this category. Its preference among physicians and doctors, high efficacy and lesser side effects will foster the segmental growth.
Based on wound type, the WCB market from venous leg ulcers segment was worth US $195 million in 2018 and is projected to register significant growth over the forecast period, owing to growing inclination towards skin substitutes for the treatment of these wounds. Obstructed blood supply between heart and legs is the reason for these ulcers.
Considering the end-use spectrum, the wound care biologics market from hospitals segment is presumed to grow with a CAGR of 8.8% over the analysis period, as a result of increasing utilization of wound healing products like skin substitutes and topical agents in hospitals.
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Based on the regional landscape, India WCB market held 19.5% revenue share of the Asia Pacific region in 2018 and is predicted to experience momentous growth over in the upcoming years. Improvements in the Indian public healthcare system ensuring availability of high quality wound healing products will contribute towards the regional growth.
Prominent market players operating in the wound care biologics market include Skye Biologics, Smith and Nephew, Solsys Medical, Integra Lifesciences, Derma sciences, MiMedx Group, Amnio Technology, Wright Medical, Kerecis, and Osiris Therapeutics among others.