Wound Care Biologics Market

Market Leader - Wound Care Biologics Market

The global wound care biologics market is projected to reach USD 2.4 billion by 2027 from USD 1.8 billion in 2022, at a CAGR of 5.4% during the forecast period. The wound care biologics market is driven by the growing prevalence of diseases & conditions affecting wound healing capabilities and the increasing number of surgical procedures across the globe.

The top players in this market are Smith & Nephew plc (UK), Organogenesis Inc. (US), MIMEDX (US), Integra LifeSciences (US), and Stryker Corporation (US). These players lead the market because of their extensive product portfolios. These players have also invested in organic strategies such as product launches and regulatory approvals and inorganic growth strategies such as partnerships, acquisitions, and agreements to maintain their market shares.

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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.

Related Reports:

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

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MarketsandMarkets™ INC.
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Wound Care Biologics Market Size,  Share & Growth Report
Report Code
MD 6335
RI Published ON
6/10/2022
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