The wound care biologics market is expected to reach USD 2.26 billion by 2023 from USD 1.42 billion in 2018, at a CAGR of 9.8%. Market growth is mainly driven by factors such as the increasing incidence of diabetic foot ulcers, increasing geriatric population, and increasing burn injuries globally. On the other hand, the high cost of wound care biologics and the higher rejection rate associated with skin grafts & substitutes will restrain the growth of this market.
The wound care biologics market is consolidated in nature, with a few number of players offering a variety of products. The key players in the market are Smith & Nephew (UK), Mölnlycke Health Care AB (Sweden), Integra LifeSciences Corporation (US), Wright Medical (US), MiMedx Group (US), Vericel Corporation (US), Anika Therapeutics (US), Osiris Therapeutics (US), Organogenesis (US), Kerecis (Iceland), Solsys Medical (US), ACell (US), Lavior Inc. (US), and Marine Polymer Technologies, Inc. (US).
Most companies in the wound care biologics market adopted product launches and acquisitions as their key business growth strategy. These strategies accounted for the largest share of the overall growth strategies mapped from 2015 to 2018.
Smith & Nephew (UK)
Smith & Nephew held the leading position in the wound care biologics market in 2017. Due to its well-established product portfolio, the company maintained its leading position in the wound care biologics market. In addition to this, Smith & Nephew has a direct presence in more than 100 countries across all regions. In November 2012, Smith & Nephew acquired the assets of Healthpoint Biotherapeutics (US), a manufacturer of the OASIS product line for USD 782 million. OASIS Matrix is indicated for the management of wounds including partial- and full-thickness wounds, pressure ulcers, venous ulcers, chronic vascular ulcers, tunneled, undermined wounds, diabetic ulcers, trauma wounds, draining wounds, and surgical wounds.
Integra LifeSciences (US)
In 2017, Integra ranked second in the wound care biologics market. The company offers a wide range of products in the market. The company adopted acquisitions as a key strategy in order to strengthen its position as well as expand its product portfolio. For instance, in 2017, Integra acquired Derma Sciences Inc. in order to strengthen its position in the wound care segment.
MiMedx Group (US)
MiMedx is a leading manufacturer and supplier of amniotic tissue-based wound biologics. The company supplies over 700,000 allografts for application in the wound care, burn, surgical, orthopedic, spine, sports medicine, ophthalmic, and dental sectors of healthcare. The company is a leader in the active wound care segment and offers a wide range of products, including biomaterial regenerative materials and allografts. MiMedx offers patented biomaterial products and tissues, including EpiFix Amniotic Membrane Allografts for acute and chronic wounds.
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