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The U.S. wound biologics market was valued at USD 630.00 million in 2022 and is expected to reach USD 1.21 billion by 2028, growing at a CAGR of 11.57% during the forecast period. The adoption of advanced wound biologic treatments is gaining wide popularity in the U.S. due to their better safety and efficacy compared to traditional wound care products. Also, government initiatives like reimbursement policies covering up to 70-100% of treatment costs have made advanced burn care treatments more accessible to patients. Additionally, the presence of organizations like WHO and nonprofit groups like the American Burn Association (ABA) has contributed to the growth of the market. Further, investing a significant amount in R&D activities is key for the long-term sustainability of the companies in the U.S. wound biologics market. Therefore, many players, including key and emerging companies, are investing a significant amount of research activities.
This report offers market size & forecast data for the wound biologics market in the United States. The revenue generated from product offerings is included in the report. This report provides a comprehensive and current market scenario of the U.S. wound biologics market, including the market size, anticipated market forecast, relevant market segmentations, and industry trends. Furthermore, the study considers a detailed scenario of the present wound biologics market and its market dynamics for 2023−2028 in the United States.
Constant development and launch of innovative wound biologics are important for vendors operating in this highly competitive market like the U.S. to achieve healthy sales growth and increase market share. Furthermore, the report covers a detailed overview of several market growth enablers, restraints, and trends. The report offers both the demand and supply aspects of the market and profiles and examines leading companies and other prominent players operating in the market.
MARKET DEFINITION
Wound Biologics are the treatment products from living organisms or cells. Biologic wound healing therapies are intended to facilitate the re-establishment of innate repair mechanisms and may involve the application of active biological agents.
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Summary
- The U.S. wound biologics market is growing due to the rising prevalence of acute and chronic wounds, majorly due to diabetes, surgical wounds, burns, and trauma, as well as the high adoption of advanced wound biologic products.
- The biological skin substitutes product segment dominated the U.S. wound biologics market in 2022. This is due to increasing demand for advanced biological skin substitutes as the chances of incidence of chronic wounds are increasing at a higher rate in the growing population.
- The U.S. wound biologics market by end-user is segmented into specialty wound care clinics, hospitals, and long-term care centers. In 2022, the specialty wound care clinics showed dominance over others, with a share of over 65%. This dominance is due to the high number of wound care specialty clinics across the United States.
- The chronic wounds segment held the most prominent share of the U.S. wound biologics market in 2022 and is expected to witness the fastest segmental growth rate during the forecast period. The rise in the incidence of diabetes & obesity and the rise in the geriatric population are key factors contributing to the rising number of chronic wound cases in the United States.
- Avita Medical, Organogenesis, Smith+Nephew, Vericel, and Orthofix are some of the leading players currently dominating the U.S. wound biologics market. The major players focus on strategic acquisitions and collaborations with emerging players to enter the wound biologics market and gain access to commercially launched products.
THE FOLLOWING MARKET SEGMENT ANALYSIS IS INCLUDED IN THIS REPORT
PRODUCT SEGMENTATION AND FORECAST
- Product
- Biological Skin Substitutes
- Growth Factors
- Wound Type
- Chronic wounds
- Acute wounds
- End-user
- Specialty wound care clinics
- Hospitals
- Long-term care centers
MARKET STRUCTURE
- Market Dynamics
- Competitive Landscape of Wound Biologics Market
- Key Vendors
- Other Prominent Vendors
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