Wound Care Market, by Product Type (Traditional, Surgical and Advanced), by Type (Chronic and Acute), by End User (Hospitals, Clinics, Home Use) – Global Industry Insights, Trends and Forecast, 2017 – 2025

Created On: Jun-2018
Report ID: IR66
Format: PDF

Market Introduction

Wound care market involves treatment of various acute and chronic wounds using different products such as dressings and medical devices for treating the injured area. Owing to advancement in technology, wound treatment products has emerged as a fast and effective solution replacing the traditional methods often used by the affected people to treat the injured area. Furthermore, the importance of wound care can be noticed by the fact that it only helps in preventing the injured area, but also reduces the risk of developing new infections.

Surgical wounds remains the most common type and with billions of surgeries being performed year round, the demand for various surgical wound treatment products such as foams, hydrocolloids and alginates. According to the CDC, the number of general surgery was recorded was 25024 in 2013.

Market Dynamics

Focus on R&D is supporting a key role to the growth of the wound care market. For instance, the development of vacuum-esque bandages by Australian researchers is seen as one of the major trends in wound care management. The new plaster, namely Nanova, features compact and lightweight and connects to a vacuum pump offering the option of convenience. Its application includes creating negative pressure that helps in removal of dead tissues and other debris. Furthermore, the added pressure also helps in increasing blood flow allowing the wounded area to heal faster. Similarly, some of the other emerging trends being witnessed is the use of crab shell bandages and bacteriophages which is further expected to help the market to grow.

Furthermore, growing usage of healthcare mobile applications is furthermore supporting the role of technological improvements in wound care market. For instance, the MOWA (Mobile Wound Analyzer) is a software application that has been designed for the management of pressure ulcers and diabetic foot ulcers. This software allows the patient to take picture of the affected area, calculates the area of the lesion and offers treatment method. Such healthcare mobile applications are helping in improving wound care therapy, reducing the care time and increasing training and education among the people.

In addition to this, the rising prevalence of lifestyle diseases such as diabetes is leading to the rising incidence of pressure ulcers, diabetic foot ulcers and venous ulcers is further creating demand for wound care therapies. According to American Diabetes Association, around 30.3 million people had diabetes in 2015 and it is estimated that close to 25% of the people suffering of diabetes are expected to develop foot ulcers at some point during their lifetime. According to Centers for Disease Control & Prevention, one-third of all diabetics suffered from lower extremity wounds in 2016.

Segment Analysis

In terms of segment analysis by product type, the advanced wound care products holds significant market share in terms of value sales in 2017. In this, the hyrocolloid dressing market is expected to witness high growth during the forecast period. One of the major growth factor contributing to the growth demand in this segment is the rising incidence of chronic wounds such as arterial ulcers, foot uclers, necrotizing infections among others. In the US, it is estimated that 2.5 million patients are treated for pressure uclers in the US health care facilities every year. Technological advancement in the form of introduction of hydroconductive dressing in 2011 by Drawtex is further expected to key role in the growth of the market. These dressings offers a capillary action that helps in lifting and moving the debris away from the wounded area. This combines two types of absorbent and cross-action structures that enables to move fluids and other debris through the dressing.

Regional Analysis

In terms of geographical segmentation, North America stands to be the largest market for wound care in terms of value sales in 2017. High awareness among patients, initiatives by several organizations and developed healthcare industry are key factors to market growth in this region. Statistics from the National Center for Health Statistics, over US $13 billion was spend on pressure ulcer management in the US in 2015.

APAC stands to be another important market for wound care and is expected to witness high CAGR during the forecast period. One of the major factors contributing to the growth is the rising prevalence of chronic diseases and the increasing penetration of healthcare players in countries such as China and India. For instance, HemCon Medical Technologies, based in US entered the Chinese market in 2015, targeting the most populous country in the world. Similarly, in 2015 same year, Mundipharma started distributing Medifoam, its moist wound dressing in China market.

Competitive Landscape

Several manufacturers are developing different organic and inorganic growth strategies such as product innovation, new launches, mergers and acquisitions, promotional activities to gain market share. For instance, in 2016, Mallinckrodt acquired Stratatech Corporation that deals with proprietary skin substitute products.

Some of the key players operating in the global wound care market include, Baxter International, Inc, 3M Company, Medtronic PLC, Coloplast A/S, Johnson & Johnson, Acelity L.P. Inc, Smith & Nephew PLC, Integra Lifesciences Corporation, Hollister, Inc, and Convatec Group and Beiersdorf AG.

Our Research Approach Includes
  •  Market Outlining
  •  Framing discussion guide
  •  Data Validation
  • Data Analysis
  •  Re-Validation and Finalization of Data
  •  Report Insights and Publishing
Our Research Approach Includes
  •  Market Outlining
  •  Framing discussion guide
  •  Data Validation
  • Data Analysis
  •  Re-Validation and Finalization of Data
  •  Report Insights and Publishing
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