Wound Care Biologics Market to amass $4690 Mn by 2024

October 10, 2019

According to the latest study titled ‘Global Wound Care Biologics Market Growth 2019-2024’ available with Market Study Report LLC, the global wound care biologics market is expected to accrue US $4690 million by the year 2024.

An emerging segment of the advanced wound care industry, wound care biologics includes xenografts, biologic skin substitutes, cell-based biogens, and enzyme-based formulations. The therapy promotes wound healing. As per report, it is commonly used to treat complicated burn injuries in patients with inadequate skin for grafting. Wound care biologics is also used to cure the prevalent problem of most complex chronic wounds such as diabetic foot ulcer and venom leg ulcers, thereby driving the market growth.

Based on the application spectrum, the wound care biologics market is fragmented into acute wounds, surgical wounds, and chronic wounds. While the market is segmented on the basis of product type as growth factors, biologic skin substitutes, and enzyme based formulations.

As per the geographical landscape, the global wound care biologics industry is divided into four key regions including Americas, Europe, Asia Pacific, and Middle East & Africa. North America dominated the wound care biologics market in terms of production and consumption with 57.81% and 56.97% share respectively in 2019. Moreover, Europe enjoyed the second position with 29.10% production share and 27.29% consumption share in the same year, claims the report.

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The global wound care biologics market was valued at US$ 2580 million in 2019 and is anticipated to grow with a CAGR of 10.5% over the projected timeline. The study analyzes the market on various parameters including production, market share, revenue, and growth rate as per different segments and offers an in-depth understanding regarding the market opportunities, drivers, challenges, and trends.

The key players operating in the wound care biologics market profiled in the report comprise of Medline, Osiris, Soluble Systems, Smith & Nephew, Alphatec Spine, Inc., Organogenesis, MiMedx, Integra, Derma Sciences, Inc., Amnio Technology, LLC, Skye Biologics, and Pinnacle Transplant Technologies.