Wound Care: Tissue-Engineered Skin Replacements and Wound Modulators
In 2019, sales of tissue-engineered skin replacements and wound modulators in the US, five major European markets (France, Germany, Italy, Spain, and the UK), Japan, and the Rest of World markets, totaled more than $1.3bn; of this, tissue-engineered skin replacements accounted for more than 90% of sales, with wound modulators accounting for the remaining sales. This analysis includes a discussion of products, current/forecast markets, competitors, and opportunities in the global markets for dermal, epidermal, and multilayer equivalents; amniotic tissue grafts; and growth factor-based wound modulators. Drivers of this market include the aging of the population and the increasing prevalence of obesity and diabetes, with an associated increase in the incidence of chronic, non-healing wounds that are resistant to traditional treatments. The COVID-19 pandemic puts a unique strain on the medtech market as a whole, as the number of elective and deferrable procedures experienced a rapid decrease in the first quarter of 2020, and into the second quarter. As the treatment of chronic wounds can only be deferred for a short time to avoid adverse outcomes for the patient, this market is expected to rebound more quickly than markets with a high volume of purely elective procedures. Over the forecast period covered by this report, total sales are expected to increase at a CAGR of 7.0%, reaching nearly $1.9bn in 2024.