Global Regenerative Wound Care Market is driven by the growing incidence of wounds caused due to burns, injuries, soars & ulcers, among others. Additionally, a growing geriatric population that is susceptible to various kinds of injuries and falls is expected to increase the demand for the regenerative wound care market. In the elderly population, due to various other associated conditions, the wound healing process is slow, leading to the demand for products that can bring about faster wound healing, thereby supporting market growth. According to the United Nations Department of Economic and Social Affairs, Population Division, the number of persons aged 65 years or above is expected to reach 1548.9 million by 2050.
The growing number of surgical procedures performed, along with increasing incidences of chronic burns, is further expected to increase the demand for the regenerative wound care market. Furthermore, the growing prevalence of diabetes is expected to fuel market growth in the coming years. Moreover, increasing research & development and new product approvals & launches are further expected to create lucrative opportunities for market growth. According to clinicaltrials.gov, as of 12th December, there are around 57 clinical trials registered across the globe related to regenerative wound care, which is in different phases of development worldwide. This, in turn, has led to the development and launch of new products. Organogenesis, Inc. was the first company to receive FDA approvals for a living, human cell-based product, Apligraf, and Dermagraft.
Apligraf is bioengineered with living cells that are bioactive to transform wounds from chronic to acute. Apligraf has illustrated clinical evidence in the treatment of Healing Venous Leg Ulcers and Diabetic Foot Ulcers. Apligraf resembles and functions like healthy human skin. Similarly, Dermagraft is a sterile, cryopreserved, human fibroblast–derived dermal substitute generated by the culture of neonatal dermal fibroblasts onto a bioabsorbable polyglactin mesh scaffold for the treatment of Diabetic Foot Ulcer in the United States.
Increasing cases of diabetes
The growing prevalence of diabetes is expected to increase the demand for regenerative wound care. Diabetes has become a pandemic in several developing nations, including China and India. Diabetes can increase the overall incidence and complexity of wounds, especially infections, chronic wounds, and ulcerations. This requires treatment and incurs exorbitant medical expenses. The World Health Organization (WHO) reports that non-communicable diseases caused 74% of deaths in 2019; diabetes killed 1.6 million people, making it the ninth largest cause of death worldwide. Globally and in emerging nations like India, the burden of diabetes is large and rising, primarily due to rising rates of overweight/obesity and unhealthy lifestyles. Numerous factors, such as abnormally high blood sugar, might damage blood vessels and nerves. This reduces blood flow to the hands, feet, and legs, which makes it more difficult for cuts and sores to heal. The Centers for Disease Control and Prevention (CDC) estimates that about 37.3 million people in the United States, or 11.3% of the population, have diabetes. Diabetes can also cause diabetic neuropathy, which can affect wound healing.
Increase in Incidences of Burns, Accidents, Injuries
The growing incidences of wounds caused due to surgeries, accidents, and injuries, among others, have significantly increased the demand for regenerative wound care. The tenth biggest cause of death globally is road traffic accidents, which are also the most common due to several factors such as speeding; driving under the influence of alcohol and other psychoactive substances; no-use of motorcycle helmets, seatbelts, and child restraints; distracted driving; unsafe vehicle; inadequate post-crash care and inadequate law enforcement of traffic laws. The WHO estimates that every year road traffic accidents claim the lives of over 1.3 million people. Between 20 and 50 million additional people have non-fatal injuries, with many of them becoming disabled as a result.
Market Segmentation
Global Regenerative Wound Care Market can be segmented by type, by wound type, by end-user, and by region. Based on type, the market can be categorized into autologous stem cells, biological skin substitutes, tissue/multiple tissue platforms, fetal skin, regenerative wound care devices, and others. Based on wound type, the market can be fragmented into ulcers, surgical & traumatic wounds, and burns. Ulcers can further be divided into diabetic foot ulcers, pressure ulcers, and others. Based on end-user, the market can be grouped into hospitals, ambulatory surgical centers, burn care centers & wound clinics, and others. Regionally, the market can be segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa.
Market Players
DeCell Technologies Inc., Avita Medical, Inc., Organogenesis, Inc., Histogen, Inc., RenovoDerm (Nanofiber Solutions, LLC), StemsysBio, Koninklijke DSM N.V., MiMedx Group, Inc., among others, are some of the leading players operating in the global regenerative wound care market.
Recent Developments
Global Regenerative Wound Care Market is witnessing a lot of new developments in the form of mergers & acquisitions, new product launches, launching new clinical trials, increasing research & development activities, and making investments, among others, in order to stay competitive and an edge over the other players operating in the market.
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