Advanced Wound Care Products: A Global Strategic Business Report
San Jose, California (PRWEB) March 07, 2014
Follow us on LinkedIn - Complex and chronic wounds such as diabetic ulcers, pressure ulcers, and trauma/surgical wounds have emerged to be one of the biggest challenges in healthcare, as they are hard to heal and are a significant drain on resources and nursing time. Advanced wound care products are increasingly emerging as the standard therapy for treating such slow healing wounds. Substitution of traditional wound management strategies with advanced wound care products is largely due to their effectiveness in managing wounds by preventing accumulation of excess exudate, while maintaining the right level of moisture to promote healing with minimum scarring. These products are increasingly being accepted by hospitals to reduce duration of patient stay and minimize the overall cost of healthcare. Growing knowledge of specifically formulated products and rapid technological innovations are also contributing towards market growth. Additionally, expanding base of aging population and rising prevalence of lifestyle related diseases such as diabetes and obesity that result in chronic wounds which need higher level of care, are also spurring opportunities for the market.
While the market for wound treatment is known to be relatively recession proof, healthcare economics has played a vital role in shaping healthcare spending and reforms across the world. Economic volatility over the last few years resulted in heterogeneous growth in the global wound care market with the developing countries maintaining relative resilience and developed countries witnessing deceleration in revenue growth amidst budgetary pressures. Reduced ASPs, and low stocking levels impacted growth in advanced wound care market during this period. In the United States, amid tightening healthcare spending, effectiveness of advanced wound care products has been under scrutiny as purchase decisions of health payers are guided by net value worth of these products. Active wound care products including engineered tissue and epidermal growth factors are gaining popularity. These products are touted to speed-up the wound healing process, while also requiring relatively less frequent nursing attention. Low toxicity and biocompatibility characteristics are enabling active wound care products to emerge as attractive and effective wound care products. Negative Pressure Wound Therapy (NPWT) has emerged as a highly effective solution for advanced wound management by accelerating wound healing by creating negative pressure on the wound via a foam dressing.
A key trend in the advanced wound care market is emergence of combination dressings which are prepared using various available products of wound dressings in different combinations, generally a biological agent and an antimicrobial material. Apart from their moisture creation and retention capabilities, moist wound dressings have gained widespread usage owing to their ability to offer protection against bacteria and absorb excess wound exudate. Given their better effectiveness than hydrocolloids in managing highly exuding wounds, foam dressings are emerging to be one of the bright spots in the moist wound dressings market. Including an antiseptic agent that helps destroy micro organisms present in the wound, antimicrobial dressings also constitutes a growing segment in the market, with demand mainly spurred by rising prevalence of bacteria which is resistant to antibiotics.
As stated by the new market research report on Advanced Wound Care Products, the United States represents the largest market worldwide. Asia-Pacific is forecast to emerge as the fastest growing market worldwide with a CAGR of 11.9% over the analysis period.
Major players covered in the report include 3M Healthcare, Coloplast A/S, CONMED Corporation, ConvaTec Inc., Covidien plc, Hollister Wound Care, Kinetic Concepts Inc., Medline Industries Inc., Mölnlycke Health Care AB, Organogenesis Inc., Paul Hartmann AG, and Smith & Nephew Plc, among others.
The research report titled “Advanced Wound Care Products: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, drivers, issues, and strategic industry activities of companies worldwide. The report provides market estimates and projections in US dollars for all major geographic markets including the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India, and Rest of Asia-Pacific), Latin America (Brazil and Rest of Latin America), and Rest of World. Products segments analyzed in the report include Moist Dressings (Alginate Dressings, Hydrocolloids, Hydrogels, Foam Dressings, and Film Dressings); Antimicrobial Dressings; NPWT; and Active Therapies (Skin Replacements, Collagen Dressings and Growth Factors).
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