The skin is one of the most vital organs in the human body. The skin acts as a protective barrier between the external environment and the environment inside the body. The skin helps preserve moisture in the body. The skin controls the body temperature. Also, it regulates the body temperature through sweating. The skin shields the body from harmful bacteria. The skin has several nerve ends, which help in responding to pressure, heat, touch, pain, and cold. Wound healing is a complex process that involves the activation and synchronization of intracellular, intercellular, and extracellular elements. Wound healing comprises various processes such as coagulation and inflammation events, fibrous tissue accumulation, deposition of collagen, epithelialization (formation of covering of the epithelial cells), wound size reduction, formation of granulation tissue, and restoration. Generally, wound is healed with tissue regeneration and scar formation. Disruptions of a wound are caused by insufficient blood flow, tissue damage, and comorbid disease states can lead to a chronic wound that is difficult to manage. Various latest advancements have occurred in the wound healing technology including skin substitutes, biologics, scaffolds, and bio-membranes.
Biologic wound healing treatments are intended to facilitate the restoration of the natural repair mechanism. They may comprise active biological agents such as plant-derived active biomolecules that exhibit antimicrobial, antioxidant, or anti-inflammatory properties. The global wound biologics market has been segmented based on product type, wound type, and geography. In terms of product type, the wound biologics market has been categorized into biologic skin substitutes, enzyme-based formulations, and growth factors. Biologic skin substitutes have a wide range of applications. The segment is expected to hold a leading share of the wound biologics market in the near future. Based on wound type, the wound biologics market has been segmented into acute wounds, chronic wounds, and surgical wounds.
Geographically, the global wound biologics market has been classified into five regions viz. North America (U.S. and Canada), Europe (Germany, France, U.K., etc.) and Asia Pacific (China, Japan, Australia, India, etc.), Latin America (Brazil and Mexico), and Middle East & Africa (the UAE, Saudi Arabia, and South Africa). In 2016, North America was a leading market for wound biologics, in terms of revenue, owing to increasing prevalence of chronic diseases and rising demand for recombinant factors. North America was followed by Europe in same year. The market in North America is expected to register a high growth during the forecast period. Emerging markets such as Asia Pacific, Latin America, and Middle East & Africa are expected to witness high growth from 2017 to 2025 due to growing health care industry and increased patient population in these regions. Among developing countries, the market in China, Brazil, and India is expected to witness robust growth between 2017 and 2025, due to increasing investments by governments of these countries to improve health care facilities.
The global wound biologics market is expected to be driven by rising prevalence of chronic wounds such as diabetic foot ulcers, leg ulcers, and pressure ulcers; increasing incidence of burns; and growing number of fire accidents. Apart from this, increase in harmful accidents involving use of acid, rise in the prevalence of skin diseases, and surge in the number of body surgeries are likely to fuel the global wound biologics market during the forecast period. However, inadequate availability of clinical data and limited regulatory product approvals act as restraints for the market.
Major players operating in the global wound biologics market are Avita Medical, Integra LifeSciences Corporation, ConvaTec Group plc, Cytori Therapeutics, Inc., Mylan N.V., Molyncke Health Care, Johnson & Johnson, Leap Therapeutics, Inc., Smith & Nephew, Nuo Therapeutics, Inc., Osiris Therapeutics, Inc., and Mallinckrodt plc.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.