Wound Treatment Market to Receive Overwhelming Hike in Revenues by 2020

The global wound treatment market includes an array of products, each formulated to avoid an infection in a wound and heal it. Wounds are generally classified as acute or chronic. The global wound treatment market is categorized into the following segments: advanced, basic, bioactive, therapeutic, and traditional devices. The advanced wound treatment market can be further divided into hydrogels, foam wound care, moist wound care, alginates, hydrocolloid and hydrogels. Advanced wound treatment is budding as a regular way out for treating chronic wounds. Traditional wound treatment is being increasingly replaced with advanced wound treatment due to their better effectiveness and efficacy in treating wounds by allowing faster healing.

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The global wound treatment market is driven by a variety of factors such as privileged incidences of hospital-acquired infections, rising aging population, increasing diabetic and obese population, government spending for advancement of wound treatment products, new materials used for product innovation and development in chemical and biological sciences resulting in growth of the market. The requirement for portable and easy to use devices is likely to drive the growth of wound treatment market. On the other hand, factors such as high costs of advanced wound treatment products and competiveness may inhibit the growth of these products in the global wound treatment market.

Geographically, the global wound treatment market is segmented into North America, Europe, Asia Pacific and Rest of the World. Asia Pacific is expected to grow rapidly, due to rising incidences of chronic diseases, increasing aging population, rising awareness for wound treatment products, and increasing population with pressure ulcers has enhanced the demand for wound treatment products. With respect to the advance wound treatment products the Asian market is predictable to observe moderate growth, due to forcing physicians and patients to choose for traditional treatment, and lack of reimbursement.

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In addition, majority of the players are focusing on the Asian market. For example, in 2012, Smith & Nephew launched 23 new wound treatment products (such as single use Negative Pressure Wound Therapy (NPWT) system, pocket-sized PICO system) in the Asian markets. Also, in December 2012, ConvaTec India Private Limited started its operations in Bangalore, Karnataka, India, to convey new healthcare products, technologies, and healing treatment to the Indian market, thus establishing its trail in the Asian market. Such expansion is expected to drive the Asian wound care market in the upcoming years.

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Some of the key global market participants present in the global wound treatment market includes Smith & Nephew plc, Baxter International, Inc., Ethicon, Inc., 3M Company, Covidien PLC, Derma Sciences, Inc., Coloplast A/S, Hollister, Inc., Convatec Healthcare B.S.A.R.L., Mölnlycke Health Care , Kinetic Concept, Inc and others.

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