The wound healing market is  worth approximately 145 bn NOK (17 bn USD) in 2016.

  

  

  

  

  

Overview  -  "Strongest growth in the advanced wound market"

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The wound healing market is roughly is split into 3 segments, "Basic", "Surgical" and "Advanced" of roughly the same size re value (Figure 1) Regenics develops products in the "Advanced" cathegory consisting of subgroups, consisting mainly of the subcathegories "hydrocolloids", "antimicrobial dressings", "growth factors" and "bioengineered skin", with a combined value of approx. 34 bn NOK (4 bn USD) in 2016. Regenics adresses the "growth factors" and "bioengineered skin" subsegments, showing the strongest growth rate with its "growth factor" product Vernex®, a GMO based gel with salmon roe extract and the new "3D-bioink component" for the "bioengineered skin" segment.

The "Advanced" cathegory in total shows jointly a very strong (< 14% ) annual growth and is expected to see a value of 5 bn USD by 2020. The "Basic" cathegory is stable or in slight decline. 

Figure 1

  

The global wound care market is expected to reach USD 20.4 Billion by 2021  growing at a CAGR of 3.6% from 2016 to 2021. The factors driving the market growth include rising aging population, government support in the form of funding for development of wound care products, increasing incidence of chronic diseases such as diabetes and growing obese population. However, factors such as high costs of advanced wound care products may restrain the market growth; especially in the cost-sensitive market.

Key Companies  -  "A few companies have 55% of the market"

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Figure 2

 Four major companies, including Smith & Nephew. Kinetic Concepts, Molnlycke, and ConvaTec comprise more than 55% of the approx. $4 billion "Advanced" cathegory wound care market in 2016. Regenics strategy is to license the technology to a major player, making sure that the product development will create appropriate asset value, but also to keep a certain part of the products or line extensions for selected markets. As such the valuation of the Regenics is based partly on a "par" pricing compared to SME peers and on relevant deal/transaction pricing in the wound care market.

Ohter significant players that is particularly active in the Advanced Wound care market is:

  • Acelity
  • Advanced Medical Solutions
  • Aso
  • Aspen Surgical Products
  • Avita Medical
  • B. Braun Melsungen
  • Bastos Viegas
  • BioDlogics
  • BSN Medical
  • Capilano
  • Cardinal Health
  • ConvaTec
  • Cytori Therapeutics
  • Derma Sciences
  • DeRoyal Industries
  • GELITA
  • Hartmann
  • HemCon Medical Technologies
  • Intercytex
  • Johnson and Johnson
  • Kinetic Concepts
  • Kuros Biosurgery
  • Lohmann & Rauscher
  • MacroCure
  • Medline Industries
  • Medtronic (Covidien)
  • Meyer-Haake Medical Innovations
  • Nuo Therapeutics
  • Organogenesis
  • Osiris Therapeutics
  • ProFibrix
  • Regenerys
  • Sutherland Medical
  • Tepha

 

Advanced segment  -  "Growth factors" and "Artificial skin" grow > 14% !"

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Figure 3

 

The "Advanced Segment" of wound care involves a heterogeneous group of products as shown in Figure 3. The "Advanced Segment" of wound care are also presented together with the advanced parts of Surgical Segment. Combined these two segment is expected to grow to around 20 bn USD by 2020 (Markets and Markets , 2015). In a 3 - 4 year period, the "Bioengineered Skin & Skin Substitutes" and "Growth Factors", where Regenics is developing products, shows a very healthy double digit growth of > 14% (Marketwatch 2016).

Regenics thus adresses a potential global market of 2 bn USD as of 2020 for the relevant 2 product cathegories of the wound healing market (Figure 4), which is expected to represent a 10-12% market share.

Bioengineered Skin   -  "Collagen and 3D - bioprinting" 

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Figure 5

Bioengineered skin are bioengineered skin substitutes either from collagen matrices, other synthtic matrices or 3D bioprinting. 

Growth Factors   -  "Complex, but significant growth" 

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Figure 6

 

The "Growth Factor" segment covers a multitude of agents that affect the complex chain of biogical events and cells that contribute to skin regeneration after injury. Most products combines physical, protective elements with biotargeting of effector cells or bioprocesses. The growth factors or bioeffectiors are often administered in topical carrier formulation that supports or potentiated the effects. 

Technavio's analysts forecast the global bioactive wound care market to grow at a CAGR of 13.85% during the period 2016-2020.

Treatment with growth factors is an effective method to promote wound healing. Several growth factors have been used in wound treatment, including basic fibroblast growth factor (bFGF) discovered in the 1970s, platelet-derived growth factor (PDGF), epidermal growth factor (EGF), and bone morphogenetic protein (BMP).

Vernex® from Regenics has proven a series of potent effects on key signalling cells in wound healing, like fibroblasts, keratinocytes, melanocytes. Vernex® has alo shown "proof of principle" effect in accelerating 2 degree burn reepitelialization in human skin explants. 

 

 

Regenics AS adresses the bioactive wound care market ...........which is the strongest growth segment of wound healing, with an expected to grow GAGR of close to 14% in the period 2016-2020 (Marketwatch 2016)

Regenics AS adresses the skin substitute market.... the development of cost-effective and safe bioengineered skin and skin substitutes is finding ready adoption in wounds of all types, but particularly burn wounds........ the use of biological growth factors in wound management reflects high growth through the forecast period. (Med Market Dilligence LLC, Repprt #S251)

 

Regenics AS has developed a number of assays and techniques to study effects of various substances on skin cells both in vitroin vivo and in the clinic. Our focus is to develop products and techniques for therapeutic skin applications and to improve skin appearance.