Wound healing: Key market research findings
- Introduction of advanced products
- Availability of different treatment options
Technavio has released a new market research report on the global wound biologics market, which is expected to grow at a high CAGR of 21% by 2020. Biologic wound healing process helps re-establish the innate repair mechanisms, prevent evaporative water loss, protein and electrolyte loss, heat loss, and wound contamination. The Americas dominate the wound biologics market, accounting for 60% of the total market share. The increasing prevalence of chronic diseases and growing demand for recombinant factors boost the growth of wound biologics market in this region
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.
“The field of wound biologics is changing rapidly with the advent of advanced products from vendors. Vendors are using regenerative technologies such as tissue engineering and nanotechnology involving the use of cells and biomolecules for treating wounds. Vendors are also coming up with custom-designed biomaterials that serve as structural templates for tissue development. These advanced wound biologic products have high safety and efficacy profiles and better wound healing capability than traditional products,” says Brahadeesh Chandrasekaran, Lead Analyst, Healthcare & Lifesciences, Technavio Research.
Wound biologics involve the use of different treatment options and modalities such as allografting, skin substitutes, and bioengineering of grafts. Vendors are conducting clinical trials of their wound biologic products. For instance, Shenzhen SiBiono GeneTech’s p53 gene therapy product is in Phase II developmental stage for the treatment of diabetic foot ulcers. Vendors are using regenerative medicine technology to develop innovative solutions such as the use of stem cells and bioactive materials to treat chronic wounds that are potentially fatal.
The key players in the global wound biologics market are Acelity, Integra, Organogenesis, and Smith and Nephew. The market is highly dynamic, with intense competition that impels companies to adopt effective strategies and develop innovative products to ensure product differentiation. The global wound biologics market has attracted both major companies and investors on account of the great potential it presents. Vendors in this market are constantly competing for the top position with occasional spurts of competition witnessed from local manufacturers in various countries.
A more detailed analysis is available in the Technavio report, Global Wound Biologics Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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