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.

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On the basis of product, the wound care biologics market is further segmented into biological skin substitutes and topical agents. The biological skin substitutes segment is estimated to grow at the highest CAGR during the forecast period. This is primarily attributed to its higher adoption for the treatment of diabetic foot ulcers and surging incidence rate of diabetic foot ulcers.

On the basis of wound type, the wound care biologics market is segmented into ulcers, surgical & traumatic wounds, and burns. In 2018, the ulcers segment is expected to account for the largest share of the wound care biologics market. This share can primarily be attributed to the widespread adoption of wound care biologics for the treatment of ulcers and burn injuries in developed countries and the high incidence rate of diabetic foot ulcers.

On the basis of end user, the wound care biologics market is segmented into hospitals, ASCs, and burn centers & wound clinics. In 2017, the hospitals segment accounted for the largest share of the market. Hospitals are the largest end users of wound care biologics, as most of the wound care treatment using biologics are conducted in hospital settings.

Geographically, the wound care biologics market is segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW). Asia Pacific is estimated to register the highest growth rate during the forecast period. This is mainly due to factors such as the presence of a large patient population and growing awareness about advanced treatment methods.

Given the immense opportunities in the major applications of wound care biologics products, market leaders and emerging players are increasingly focusing on the market segments mentioned above to increase their revenues and are also looking to expand their reach to emerging economies.