Advanced Wound Care and Closure Market Size Soaring at 8.0% CAGR to Reach $20.5 billion by 2020: Top Players Smith and Nephew, Kinetic Concepts, 3M, BSN medical, Covidien, ConvaTech

Global Advanced Wound Care and Closure Market is expected to garner $20.5 billion by 2020, registering a CAGR of 8.0% during the forecast period 2014 - 2020. Traditional wound care & closure and advanced wound care & closure products are used to treat acute and chronic wounds. Chronic wounds are hard to heal wounds, which take substantial time to heal and are expensive to treat.

Smith and Nephew, Kinetic Concepts, 3M, BSN medical, Covidien, ConvaTech, Derma Sciences, Integra LifeSciences, Baxter International and Coloplast are some of the major players in the global advanced wound care and closure market.

Active wound care consists of skin substitutes and growth factor products, which are the highly potent segments of advanced wound care that would foster the market growth in the near future. Negative Pressure Wound Therapy (NPWT) has emerged as a highly effective therapy for advanced wound management. NPWT promotes wound healing through the application of negative pressure on the wound via foam dressings. Strong growth is anticipated in NPWT segment during the forecast period and would reach$3.7 billion by 2020.

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Advanced wound care & closure products are emerging as a standard solution for treating chronic wounds. Traditional wound care & closure products are being increasingly substituted with advanced wound care & closure products due to their efficacy and effectiveness in managing wounds by enabling faster healing. This is set to propel the growth of advanced wound care and closure market in near future.

Attempts to reduce the duration of hospital stays in order to limit surgical healthcare costs, and the rising inclination towards products that enhance therapeutic outcomes are driving the demand for advanced wound care & closure products. The risks associated with ineffective wound healing promote the demand for combination dressings, which is a modern trend in the market that is replacing traditional wound dressing methods further supplementing the advanced wound care and closure market growth.

The global advanced wound care and closure market has been segmented based on type, application, end users and geography. Based on type, the global market is segmented into advanced wound closure market and advanced wound care market. According to applications, the market is segmented into Burns, Ulcers and Surgical Wounds. Based on end users, the market is segmented into hospitals & community healthcare services and home healthcare. Geographically, the market is segmented into four regions, namely North America, Europe, Asia-Pacific and LAMEA.

Advanced Wound Care And Closure Market Key Benefits

• An in-depth analysis of the current advanced wound care, and wound closure market scenario is strategically dealt to provide future market trends that would facilitate decision making
• Quantitative analysis of the current market trends and estimations through 2013-2020 would help strategists to design business strategies to capitalize on the prevailing opportunities in the market
• Analysis of the market factors in various regions would bestow a deeper understanding of demographical dynamics that would influence expansion decisions.
• Identification of key application segments based on their potential and growth prospects would throw light on the most profitable segments to capitalize on
• Analysis of key strategies adopted by market players will assist in understanding the inherent business rivalry and intensity of competition prevailing among the top brands
• Emphasis is laid on key factors affecting the growth of the global advanced wound closure and advanced wound care market. These factors are critically analyzed to gain a futuristic view of the market .

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