How is the Market?
Advanced wound care market is gaining popularity due to the geriatric population and additional amount of awareness related to the enhanced products along with increased adoption rate. Escalation in diabetes cases and obesity are leading to increased need for advanced wound care products. Of all the types of advanced wound care, the dressing segment is anticipated to understand the most swiftly flourishing market during the forecast period.
A few of the key market driving factors of the advanced wound care market are increasing incidences of chronic diseases across the world, rising elderly population, advanced technology in wound care products and procedures and many more. Based on NCBI, around 30% to 85% of spinal cord injury patients get pressure ulcers in the first month itself. Nonetheless, AWC treatment procedures are not very cost-efficient and this restricts the growth of the market. However, the progress of the advanced wound care systems which offer cheaper treatments aimed towards particular wounds will surge the growth of this market during the forecast period. Therefore, cost efficiency and advanced technology combined with pain management are a few major factors which will support the growth of this market in the future.
Advanced wound care (AWC) product have an improved therapeutic efficacy as compared to conventional wound care products like bandage, gauge, sponge and others. The use of advanced wound care product encourages the process of healing and decreases the time taken for recovery. Thus, the need for wound therapy device, advanced wound dressing, and active wound care product is projected to escalate. All of these products are used in outpatient as well as inpatient facilities to render improved treatment to patients suffering from surgical wounds, burns, chronic wounds, and ulcers.
Some of the crucial market manufacturers are Covalon Technologies Ltd., PAUL HARTMANN Limited, Cardinal Health, BSN medical, Mölnlycke Health Care AB, Acelity L.P., Inc., Integra LifeSciences Corporation, Smith & Nephew plc., Medline Industries, Inc., DeRoyal Industries, Inc, ConvaTec, Inc., Medtronic plc, Organogenesis Inc. and Coloplast A/S.
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The therapy devices segment ruled the global AWC market in 2016 owing to their competence to improve the wound healing and recovery process by making use of vacuum dressings. The active wound care market is dignified to grow at a substantial CAGR from 2017 to 2025. Based on application, the chronic wound segment is estimated to show profitable growth rate during the forecast period as AWC products supports in faster wound healing and recovery.
From the North American region, the United States advanced wound care market dominated in 2016 due to the increasing prevalence of chronic wounds, ascending need for AWC products for rapid healing and promising reimbursement policies. Additionally, the current innovations pertaining to the technology for the =progression of advanced wound care products will support the market to grow lucratively.
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