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Advanced Modern Wound Care Products Market Key Trends in terms of value Till 2020

01-19-2017 05:06 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: SA-BRC

Advanced Modern Wound Care Products Market Key Trends in terms

Traditional wound care products include dressings, gauze and cotton along with other absorbents and are popular even today. However, these devices fell short on controlling infections and exudates. Along with this, there was also a pressing need for treatment of chronic wounds such as venous ulcers, diabetic ulcers and pressure sores. Increasing cases of chemical and thermal burns also added to this necessity. The result of constant research and development by innovative companies resulted in advanced or modern wound care products. Governmental regulations have increased the urgency of hospitals to reduce hospital acquired conditions. Starting October 2014, hospitals with the lowest performing 25% in HACs will bear a 1% reduction in their DRG payment rate. This can be translated as a cut of over US$ 450,000 - US$ 650,000 for an average-size hospital. Pressure ulcers form a significant portion of HACs in hospitals across the world. The condition is difficult to treat in aging people and can become the cause of additional medical treatment and add to discomfort. The market for modern advanced wound care products includes hydrogel dressings, hydrocolloidal, foam, silver anti-microbial, calcium alginate, non-adherent absorbent dressings. Advanced wound care also includes electro-mechanic devices such as negative pressure wound therapy or NPWT. This segment has in recent years risen up due to an extensive demand from healthcare facilities to treat chronic wounds. Newer techniques such as Bolster dressings are using biophysics in order to combat wound treatment. Bolster dressings are used to cover contoured wounds and skin grafts. New techniques and products such as artificially engineered skin and skin substitutes are leading factors responsible for the growth of the market. Derma Sciences AmnioMatrix is one such product that is expected to create waves in this industry. Other drivers include the rising incidence of chronic wounds occurring from an explosion in the diabetic population. Another notable market segment, the NPWT is gaining high acceptance and almost every wound care player such as Coloplast, Molnlycke, DeRoyal, Medela, Acelity-KCI, Smith & Nephew are today competing in this segment.

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Although traditional wound care dressings and gauze account for a share of over 20%, the market has fallen greatly in the last 2 decades and is now a part of a very large, unregulated and commoditized industry. Foam and adhesive dressings are in high demand in majority hospitals over the world today and are routinely used even across developing countries. Currently however, North America and Europe still lead the market for advanced modern wound care products. In 2014, the global advanced modern wound care products market was valued at US$ 5.5 billion and is expected to grow at a CAGR of 4.8% from 2016 to 2020. Latin America, Middle-East, Asia-Pacific and Africa are large consumers of traditional wound care products, however, this trend has changed significantly in the last 2 decades and the traditional wound care products are observed to have been mostly phased out from healthcare facilities such as clinics and hospitals. In terms of market players, the industry is very fragmented and over 30 notable companies have been recorded across the world. Top players include BSN Medical, Derma Sciences, Smith & Nephew, Coloplast, 3M Healthcare, DeRoyal, Hartmann Group, ConvaTec, Kinetic Concepts, Molynlycke, Johnson & Johnson, Stryker Corp, Shire Plc, Lohmann and Rauscher GmbH, Hollister Wound Care llc, B. Braun Aesculap, Medline industries, Covidien PLC and Baxter International. This report is intended for wound care product manufacturers, medical professionals, analysts in the healthcare industry and other stake-holders such as venture capitalists and investors.

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About Us
Spearhead Acuity Business Research & Consulting Private Limited (SA-BRC) is a premium Life Science business intelligence and data analytics firm. SA-BRC team offers a wide range of business intelligence services to multiple stakeholders such as Medical Device Manufacturers, Service Providers (Hospitals, Payers, etc.), Suppliers, Group Purchase Organizations, Distributors and all other individuals in the entire value chain of healthcare industry. Our research and consulting capabilities extend across several sub-domains within the sphere of Life Sciences such as Biotechnology, Healthcare IT, Medical Devices, Veterinary Sciences, Wellness Products and Pharmaceuticals.

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