MRFR is the Leading Brand in The Research Company who Recently Published Global Wound Care Biologics Market Research Reports which includes Study of Growth Overview, Regional Analysis, Top Players, Major Drivers, Upcoming Trends and Foreseen to 2023.
The market is expected to have accounted for the market value of USD 1.20 billion in 2017 and is projected to grow at a CAGR of 9.9% over the assessment period. Biologic wound care products use for healing in chronic wounds and burn cases. The increasing prevalence of chronic diseases and burn injuries and increasing healthcare expenditure anticipated to boost the growth of the market during the forecast period. According to the British Diabetic Association operating as Diabetes UK, in 2016-2017, about 3,116,399 people had diabetes in England. On the other hand, the high cost of treatment, lack of awareness, and poor education and training may hinder the market growth during the forecast period.
Growing aging population, increasing prevalence of chronic diseases and burn injuries, and increasing healthcare expenditure are expected to drive the growth of the market. According to the American Diabetes Association, in 2015, about 30.3 million suffer from diabetes in the Americas.
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Moreover, in the US, 486,000 were suffering from burn injuries from 2011 to 2015. On other hand, the high cost of treatment, lack of awareness, and poor education and training can restrain the market growth over the assessment period.
Some of the prominent players in the global wound care biologics market are Integra LifeSciences Corporation (US), Smith & Nephew (UK), Wright Medical (US), Mölnlycke Health Care AB (Sweden), MiMedx Group (US), Vericel Corporation (US), Anika Therapeutics (US), Osiris Therapeutics (US), Marine Polymer Technologies, Inc. (US), Kerecis (Iceland), Solsys Medical (US), ACell (US), and Organogenesis (US).
The global wound care biologics market has been segmented into product type, wound type, and end user.
Based on product type, the market is segmented into biological skin substitutes and topical agents. The biological skin substitutes segment is expected to account for the largest share and fastest growing segment of the global market in 2017. The market growth of the segment is attributed to increasing adoption and result oriented product.
Based on wound type, the market is segmented into ulcers, surgical & traumatic wounds, and burns. The ulcer segment has been further segmented into diabetic foot ulcer, pressure ulcer, venous leg ulcer, and others ulcer.
The global wound care biologics market, by end user, has been segmented into hospitals, clinics, and other end users.
On a regional basis, the global market in the Americas is segmented into two major regions, i.e., North America and South America. The North American region is likely to hold the major share in the global wound care biologics market owing to the presence of well-established players, growing prevalence of diabetes, and high disposable income. According to the CDC, in Americas 30.3 million were suffered from diabetics in 2015. Additionally, the Asia-Pacific region is anticipated to be the fastest growing region due to the rising prevalence of chronic diseases coupled with a high occurrence of burn injury cases which provide a favorable scenario for the market growth.
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