Some $3.4 billion and growing – that’s where the advanced wound care market is today, with projections to reach nearly $5 billion by 2027. That’s an annual growth rate of 9.9% from 2020 to 2027.1
It’s clear to see why the market is expanding. As the population ages, there’s an increase in chronic illnesses like diabetes and cardiovascular diseases that lead to wounds like venous and diabetic ulcers. Plus, advances in trauma care for injuries like burns and other skin conditions are further fueling fast growth of the Cellular and Tissue Products (CTP) marketplace.
Sharing Info and Insights
To participate in this product category’s promise and potential, product manufacturers and researchers need information and insights.
As a follow-up to our popular infographic, Top Wound Care Products & Manufacturers, find out the latest market data and analysis and WHY it’s so important to understand the product category in our newest infographic fully, The Emergence of Cellular and/or Tissue-Based Products (CTPs) for Wound Closure and Healing.
Using data from 51 US wound care centers in the first quarter of 2022, Net Health recently analyzed the CTP market, including: 1) product names; 2) current procedural terminology; 3) CPT codes; and 4) types of wounds.
We conducted an analysis covering some of the biggest names in the market, including:
- MTF Biologics Wound Care
- BoneBank Allografts
- BioLab Sciences
Keep those Initials Straight: CTP Market Info – CPT Coding Insights
To provide further insights, we also analyzed the CPT codes (we know those initials can easily get transposed!) outlined by CMS for Medicare claims processing. Information on CPT Codes helps wound care product manufacturers identify where their products fit in the marketplace. In addition, utilization and reimbursement rates help clinicians benchmark their prescribing patterns and identify optimal therapies based on reimbursement and clinical efficacy.
Be Part of the Growth
This information can help you fully participate in the CTP wound care market. Check out our complimentary CTP Market Report, or contact us directly for insights tailored to your needs.
Visit the Net Health Tissue Analytics web page.
Download the Infographic: The Emergence of Cellular and Tissue Based Products (CTPs) for Wound Closure and Healing
1 Pandey S., Telugunta R., Sumant O. US Advanced Wound Care Market b Product (Infection Management, Exudate Management, Active Wound Care, Therapy Devices), Application (Chronic Wounds and Active Wounds), and End User (Hospitals and Community Centers): Opportunity Analysis and Industry Forecast (2020 – 2027). Allied Market Research. July 2020. Available at: https://www.alliedmarketresearch.com/us-advanced-wound-care-market-A06638#:~:text=U.S.%20Advanced%20Wound%20Care%20Market%20Overview%3A,9.9%25%20from%202020%20to%202027.