Spiraling Economic & Financial Burden of Managing Chronic, Non-Healing, Necrotic Wounds to Drive Demand for Advanced Wound Care Products
The global market for Advanced Wound Care Products is projected to reach US$ 17.6 billion by 2024 , driven by increasing incidence of chronic wounds and growing emphasis on reducing risk of wound infections and healthcare costs, and new product innovations that help quicken the pace of wound healing. Advanced Wound Care Products are defined as wound care solutions that prevent accumulation of excess exudate, while maintaining the right level of moisture to promote healing and increase the likelihood of gaining new skin tissue with minimum scarring. The category includes special purpose dressings, active biologics and therapy devices such as negative pressure therapy. Growth in the market is primarily driven by increasing incidence of chronic wounds such as venous leg ulcers (VLUs), diabetic foot ulcers (DFUs), and pressure ulcers (PUs) against the backdrop of an expanding elderly population and increase in prevalence rate of morbidities such as diabetes and obesity. Growth is furthe...