Objective
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% and representing one of the leading medical product sectors. However, this represents only some 15-20% of the overall cost of wound treatment, where hospitalisation and nurse time represent the remaining costs.
BIOVOTEC aims to pursue a major market opportunity by developing a novel biomaterial based cost-effective wound dressings that can be used for initial treatment of all wounds at risk of delayed or non-healing, reducing 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.
Fields of science
- medical and health scienceshealth sciencesnursing
- engineering and technologyenvironmental engineeringwaste management
- natural sciencesbiological sciencesbiochemistrybiomoleculesproteins
- medical and health sciencesclinical medicineendocrinologydiabetes
- engineering and technologyindustrial biotechnologybiomaterials
Programme(s)
Funding Scheme
SME-2 - SME instrument phase 2Coordinator
0275 OSLO
Norway
The organization defined itself as SME (small and medium-sized enterprise) at the time the Grant Agreement was signed.