United States Wound Biologics Market Report 2023: Biological Skin Substitutes Dominate with 61.45% Share
DUBLIN, Nov. 23, 2023 /PRNewswire/ — 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% to 2028
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.
VENDORS LIST
PRODUCT SEGMENTATION & FORECAST
By product
By wound type
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Chronic wounds
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Acute wounds
By end-user
MARKET STRUCTURE
For more information about this report visit https://www.researchandmarkets.com/r/hl9j9o
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