The Global Market for Advanced Wound Care Products is Projected to Reach US$16.0 billion by 2022

Increasing Incidence of Challenging Wounds with Prolonged Healing Times to Drive Demand for Advanced Wound Care Products, According to New Report by Global Industry Analysts, Inc.

GIA announces the release of a comprehensive global report on Advanced Wound Care Products markets. Global market for Advanced Wound Care Products is projected to reach US$16.0 billion by 2022, driven by increasing incidence of chronic wounds, new product innovations, and growing access to advanced wound treatments in emerging markets.

Advanced wound care includes products that fasten the healing time compared to traditional products. The category includes special purpose dressings, active biologics and therapy devices such as negative pressure therapy. The transition to these products is mainly spurred by the growing worldwide acceptance of the concept of maintaining a moist wound environment to enable the easy movement of epithelial cells to facilitate wound healing. Other factors that have contributed to the strong evolution of the market over the years include the growing incidence of various types of wounds, the increasing knowledge that different types of wounds need to be targeted with specifically formulated products and rapid technological innovations supported by growing focus of R & D to develop efficient wound healing treatments. The market for advanced wound care products continues to witness steady growth primarily driven by increasing incidence of challenging wounds with prolonged healing times and growing government focus on containing healthcare costs. While pricing pressure continues to play an important role in impacting the market growth, ageing demographics and rising prevalence of lifestyle related diseases such as diabetes and obesity that result in chronic wounds are also spurring growth opportunities.

Future growth in the market will be driven by growing prominence of active wound care products including epidermal growth factors and collagen supported by their effectiveness in speeding the wound healing process, while also requiring relatively less frequent nursing attention. Another important growth driver is the rising demand for skin substitutes that are increasingly being considered for the treatment of diabetic foot ulcers, venous leg ulcers and severe burn ulcers which have not responded to standard therapy and which require immediate closure. Technology developments that are targeted at effective management of hard to heal wounds and benefit market adoption include dressings that change color with the infection levels and electronic bandages that stimulate the healing process; and “smart” dressings that can monitor the progress of wound healing and proactively react and adapt to wound conditions, effectively deal with complex wound morphologies, and manage wound exudate. While conventional moist wound dressing formats, such as alginates, foams, and hydrocolloids command a significant share of the advanced wound dressings market, new products including wound contact layers, hydro-fibers, and super absorbents are registering faster growth owing to features such as greater absorbency and strength.

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 12.2% over the analysis period.  Growth in the region is led by improved investments in healthcare sector and improved access to advanced wound therapies for chronic wounds.

Major players covered in the report include 3M Healthcare, Coloplast A/S, CONMED Corporation, ConvaTec Inc., Medtronic plc, Hollister Wound Care, Acelity LP, 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 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 Dressings (Alginate Dressings, Hydrocolloids, Hydrogels, Foam Dressings, Film Dressings, Antimicrobial Dressings, Other Dressings), NPWT, and Active Therapies (Skin Replacements, Collagen Dressings, Growth Factors).

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