Wound Care Biologics Market Worth $2.4 Billion by 2027- Global Trends, Growth, Share Analysis, Leading Players, Business Opportunities

In June 2021, MIMEDX (US) received approval from the Japanese Ministry of Health, Labour and Welfare for the commercialization of Epifix in Japan.

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Northbrook, IL 60062 — (SBWIRE) — 12/02/2022 — The Global "Wound Care Biologics Market by Product (Biological Skin Substitutes, Topical Agents), Wound Type (Ulcers [Diabetic Foot, Venous, Pressure Ulcers], Surgical & Traumatic Wounds, Burns), End User (Hospitals, ASCs, Burn Centers) – Global Forecast to 2027" The global wound care biologics market is valued at an estimated USD 1.8 billion in 2022 and is projected to reach USD 2.4 billion by 2027, at a CAGR of 5.4%. The wound care biologics market is driven by the increasing prevalence of diabetes and growing number of surgical procedures and associated infections. Emerging economies such as China, Japan, and India are providing lucrative opportunities for the players operating in the wound care biologics market.

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Key Market Players

The major players operating in this wound care biologics market are are Smith & Nephew plc (UK), Organogenesis Inc. (US), MIMEDX (US), Integra LifeSciences (US), Stryker Corporation (US), Moelnlycke Health Care AB (Sweden), Vericel Corporation (US), Bioventus LLC (US), Anika Therapeutics, Inc. (US), and Kerecis (Iceland).

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the wound care biologics market is driven by the increasing prevalence of diabetes and growing number of surgical procedures and associated infections. Emerging economies such as China, Japan, and India are providing lucrative opportunities for the players operating in the market.

In 2021, Smith & Nephew plc (UK) held the leading position in the wound care biologics market. The company has maintained a leading position in the market through its strong distribution networks across North America, Europe, the Asia Pacific, Latin America, the Middle East, and Africa. Smith & Nephew has a strong distribution network across the globe. This helps in insulating its business from demand fluctuations in various geographies. The company has majorly adopted inorganic strategies to sustain its presence in this market. Smith & Nephew focuses on strategies such as agreements and acquisitions to garner a larger market share. For instance, in March 2019, the company acquired Osiris Therapeutics Inc. (US), a company engaged in the development and marketing of regenerative medicinal products for wound care and sports medicine. This helped the company to significantly expand its product line and enhance its visibility in the market.

In 2021, Organogenesis Inc. (US) accounted for the second-largest share of the wound care biologics market. Its leading position in this market can be attributed to its increased focus on R&D activities to develop unique and better products than its competitors. Its investments in R&D to optimize its portfolio and capital allocation strategies help fuel its future growth and ability to remain competitive in the wound care biologics segment. In addition, Organogenesis's strategies, which involve agreements, aim to further strengthen its position in the wound care biologics market. In May 2019, the company entered into an agreement with Vizient (US). This agreement allowed Organogenesis to extend its offerings of advanced wound care products to more than 3,100 hospitals.

MIMEDX is the leading player in the wound care market, in 2021. The company's dominant position in the market can be attributed to its novel wound care biologics-based products. The company has two distribution channels—direct to customers (healthcare professionals and/or facilities) and sales through distributors. The company has a strong presence in the US and is considering business expansion primarily in Europe and the Asia Pacific. To maintain its leading position in the wound care biologics market, the company focuses on organic and inorganic growth strategies such as product launches and collaborations. For instance, in September 2020, the company launched EpiCord Expandable, an advancement to its existing product portfolio. The new allograft expands to twice its size and provides a protective structure to support wound healing. With such developments and strategic efforts, the company is expected to witness growth during the forecast period.

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North America is the largest regional market for wound care biologics market

The global wound care biologic market has been segmented into five major regions—North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. In 2021, North America accounted for the largest share of the market. The large share of this region can be attributed to the highly developed healthcare systems in the US and Canada. Growing healthcare expenditure is also one of the major drivers for the hospital sector in the region. This is considered a positive indicator of market growth, as hospitals are the major end users of wound care biologics products.

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