Global Wound Care Biologics Market Size

Wound Care Biologics Market Analysis

The Wound Care Biologics market is projected to register a CAGR of 8% during the forecast period (2022 - 2027).

The COVID-19 pandemic caused serious issues with the provision of wound care. Due to several comorbidities, wound patients are more likely to experience COVID-19's most serious effects. As a result, fewer hospital admissions and reduced diagnoses affect the biologics used in wound care. Even during the COVID-19 crisis, managing chronic wounds is important. According to the study titled 'COVID-19: Issues related to wound care and telehealth management' by Alisha Oropallo, in June 2022, to lower their risk of contracting SARS-CoV-2, patients must make fewer trips to clinics, home health nursing services, or wound care facilities. After a thorough investigation, 115 clinics contained 39,750 wounds involving 17,849 patients. Because of this, the market cannot grow due to a decline in patient visits and wound complaints. Furthermore, as per the study article "The risk of pressure ulcers in a prone COVID population" published in 2021, the study stated that around 88.7% developed anterior pressure ulcers. As per the same source mentioned above the risk of pressure, and ulcers is high in the COVID population. Thus, during COVID-19 the wound care biologics market significantly impacted.

Wound care biologics is gaining popularity for the treatment of wounds and burn injuries. Factors, such as the growing burden of burn injuries, the increasing burden of diabetic foot ulcers and pressure ulcers, and government initiatives regarding wound care treatment are driving the growth of the wound care biologics market.

The wound care biologics market is expected to gain significant traction, with rising in the global prevalence of diabetes, as diabetic patients are prone to developing diabetic ulcers. For instance, the incidence of diabetes among all ages is increasing, mainly due to obesity, unhealthy diet, and physical inactivity. According to the study titled "Diabetic Foot Ulcer" published in the National Library of Medicine in May 2022, worldwide, there are 9.1 to 26.1 million diabetic foot ulcers every year. Approximately 15% to 25% of people with diabetes mellitus have experienced a diabetic foot ulcer at some point in their lives. The incidence of diabetic foot ulcers is destined to rise as the number of people newly diagnosed with diabetes rises each year. As a result, it is predicted that throughout the forecast period, demand for wound care biologics will increase, supporting market expansion. Moreover, burns not only have a high economic impact but also have disastrous effects on the victim's skin. Therefore, the availability of superior quality synthetic substitutes and their growing demand in the treatment of burns have proven beneficial for the industry's growth. According to the study titled "Socio-demographic features and quality of life post burn injury' published in the Journal of Family Medicine and Primary Care in March 2022, there are 6 to 7 million burn injury victims worldwide and in India. One million of them are of a moderate-to-severe grade and require long-term rehabilitation services in addition to excellent medical care. 1.4 lakh near-fatal cases of burn-related accidents occur each year in Delhi alone. Within the last five years, there has been a 10-fold increase in outpatient care and a four- to five-fold increase in hospital admissions due to the increase in burn cases and patients seeking medical attention.

Moreover, market players are frequently launching new products and adopting various growth strategies in their respective segments, which is likely to drive market growth. For Instance, in October 2021, RedDress entered into a partnership with MediGroup to deliver its innovative wound care solution, ActiGraftsystem to MediGroup'smembers. ActiGraftaims to deliver an affordable and efficacious wound solution to MediGroup'smembers to help improve the health and lives of patients living with chronic, non-healing wounds including diabetic foot ulcers, pressure injuries, venous ulcers, traumatic wounds, and post-surgical wounds. Therefore, the growing focus on the development of better treatment options, along with the huge burden of diseases, is expected to drive the wound care biologics market. However, the high treatment cost is expected to restrain the growth of the global market in the forecast period.