Wounds pose significant hazard to patients, providers and the global health economy, affecting millions and costing billions of dollars annually. However, the past two decades have witnessed substantial changes in the wound care sector. The traditional wound dressing products have been replaced by advanced wound care products which possess rapid healing properties. Advanced wound care products are used to dress complex wounds, such as burns, chronic wounds, and complex trauma and surgical wounds. Chronic and complex wounds represent one of the predominant challenges to global healthcare systems because they are difficult to heal and hence, expensive to treat.
The researchers have worked rigorously on the development of advanced wound care sector, which has had positive results in clinical trials. Hence, the companies operating in the wound care market have succeeded in developing advanced and cost-effective wound care products such as foams, hydrocolloids, hydrofiber, alginates, Negative Pressure Wound Therapy (NPWT) devices and biologics among others that provide better care and faster recovery.
There are four segments of advanced wound care market, which are advanced wound dressing, NPWT, wound care biologics and other products. The market for wound dressings is more inclined towards advanced wound dressing products because they cost effective and offer fast and safe healing properties. Advanced wound dressing accounted for the largest market share of the advanced wound care technology market in 2015. It is expected to grow substantially in the coming years because of its easy applicability and availability along with clinical competence.
Negative Pressure Wound Therapy (NPWT) was introduced by Kinetic Concepts (now Acelity) in the 1990s. It is a device based technology used in advanced wound care and is currently evolving in the global advanced wound care market. Another emerging sector of the market is the biological product segment, which includes enzyme based formulations, synthetic skin substitutes, xenografts and cell based biogens, to accelerate wound healing. Wound care biologics are used to treat most complex chronic wounds such as diabetic foot ulcer and venous leg ulcers. There are several other products available in the market including hyperbaric oxygen therapy systems, electric simulation devices ultrasonic mist, and electromagnetic devices.
The global advanced wound care market is expected to reach $ 10,940.7 million in 2022, growing at a CAGR of 5.0% from 2016 to 2022. North America dominated the global advanced wound care market in 2015, and held the largest share for wound care biologics and NPWT devices. Asia Pacific is expected to show a significant growth in the market during 2016-2022. According to World Health Statistic 2014 report, published by World Health Organisation, Japan has the longest life expectancy in the world, and until 2012, Japanese women had the longest life expectancy in the world, of around 87 years. The rise in life expectancy in this region has pushed the demands of superior quality of health support systems and products which will further escalate the demand for wound management products during 2016- 2022.
The key players in the advanced wound care market- Acelity Inc., Smith and Nephew plc, Molnlycke Healthcare and ConvaTech, together account for over 54% of the advanced wound care market globally with primarily emphasising around wound dressing, and NPWT devices. BIS Research has done an extensive report on ‘Global Advanced Wound Care Market’. The report provides an in-depth analysis of the key development strategies and market trend dynamics which includes drivers, restraints and opportunities prevailing in the industry. For further queries, please write to us at [email protected] or call us at : +1 650 228 0182