United States Wound Biologics Market Insights 2023-2028: with Avita Medical, Organogenesis, Smith+Nephew, Vericel, and Orthofix Dominating
US Wound Biologics Market
Dublin, Nov. 22, 2023 (GLOBE NEWSWIRE) -- The "US Wound Biologics Market - Focused Insights 2023-2028" report has been added to ResearchAndMarkets.com's offering.
US wound biologics market was valued at $630.00 million in 2022 and is expected to reach $1,214.92 million with a CAGR of 11.57% during the forecast period.
This report offers market size & forecast data for the wound biologics market in the US. The revenue generated from product offerings is included in the report. This report provides a comprehensive and current market scenario of the US wound biologics market, including the US wound biologics market size, anticipated market forecast, relevant market segmentations, and industry trends.
The market is witnessing growth driven by the increasing incidence of acute and chronic wounds, primarily attributed to factors like diabetes, surgical procedures, burns, and traumatic injuries. Additionally, the widespread adoption of advanced wound biologic products contributes to this expansion.
In 2022, the product segment dominated by Biological Skin Substitutes held a substantial market share of 61.45%. This category is projected to maintain robust growth with a 11.29% CAGR during the forecast period. The escalating demand for advanced biological skin substitutes is driven by the rising occurrence of chronic wounds, especially among the growing population.
Specialty wound care clinics outperformed other segments in 2022, securing a dominant market share of 65.87%. These clinics are expected to sustain their dominance, exhibiting a significant 11.91% CAGR during the forecast period. Their widespread presence across the United States contributes to this leadership position.
In 2022, the chronic wounds segment captured a substantial market share of 52.54%. It is anticipated to continue growing at a noteworthy CAGR of 12.08% throughout the forecast period. Factors such as the increasing incidence of diabetes and obesity, coupled with the rising geriatric population, are key drivers behind the surge in chronic wound cases in the US.
Key players like Avita Medical, Organogenesis, Smith+Nephew, Vericel, and Orthofix hold prominent positions in the US wound biologics market. These industry leaders focus on strategic acquisitions and collaborations with emerging players to enter the wound biologics market, thereby gaining access to commercially launched products.
The study provides a comprehensive overview of the current state of the wound biologics market, along with its market dynamics for the period of 2023-2028 in the US.
It offers a detailed analysis of various factors influencing market growth, including enablers, constraints, and emerging trends. The report addresses both demand and supply aspects of the market and provides profiles and evaluations of leading companies and other significant players in the industry.
Key Attributes:
Report Attribute | Details |
No. of Pages | 71 |
Forecast Period | 2022 - 2028 |
Estimated Market Value (USD) in 2022 | $0.63 Billion |
Forecasted Market Value (USD) by 2028 | $1.21 Billion |
Compound Annual Growth Rate | 11.4% |
Regions Covered | United States |
VENDORS LIST
Avita Medical
Organogenesis
Smith+Nephew
Vericel Corporation
Orthofix
Bioventus
Cytori
Ethicon
Integra LifeSciences
Marine Polymer Technologies
Medline Industries
MiMedx
Molnlycke
Nuo Therapeutics
Skye Biologics
Stability Biologics
Stryker
Surgilogix
Tides Medical
Viscus Biologics
BD
Convatec
Regen Lab
PRP Concepts
Anika Therapeutics
AlloSource
Amino Technology
PRODUCT SEGMENTATION & FORECAST
By product
Biological Skin Substitutes
By wound type
Chronic wounds
Acute wounds
By 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
For more information about this report visit https://www.researchandmarkets.com/r/mnpq0
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