Novel Biomaterial for Improved and Cost-efficient Wound Healing
Project Name: BIOCURE / Project ID: 712445
Wound treatment is a major healthcare cost for all developed countries. The global market for advanced wound care products was projected to be $ 3 billion in 2012, with an annual growth above 10%, representing one of the leading medical product sectors. However, this represents only 15-20% of the overall cost of wound treatment, where hospitalization and nurse time represent the remaining costs.
BIOVOTEC aims to pursue a major market opportunity. By developing novel biomaterial-based, cost-effective wound dressings, for initial treatment of all wounds at risk of delayed or non-healing, we can reduce the incidence of chronic wounds. BIOCURE range products will be safer, potentially more effective, much more easily scalable and significantly lower in cost when compared with the available advanced wound healing products.
BIOCURE is an opportunity for BIOVOTEC to enter the world-wide advanced wound care market and maintain the European competitive position in the growing biotech and wound management sector. The accomplishment of the project objectives will thus represent a significant business opportunity for the two SMEs, with expected sales of over €50 million within 5 years of launch (i.e. 2022).
Furthermore, BIOCURE will positively impact clinicians and patients through early stage treatment or resolution of chronic wounds, and payers through reduced treatment costs per wound.
Project phase and duration:
Phase II, 2 years from February 2016.