A wound is a damaged portion of the body caused by an external cut or hole, blow and others in the flesh of living creatures. Wounds are considered acute and chronic in general. Acute wounds are the basic and short-term wounds that last for less than 2 months and disappears in the normal wound healing process. Chronic wounds, on the other hand, caused by age, diabetes, obesity, cancer, chemotherapy, poor nutrition, infection, chronic illness, and several other factors do not follow a regular healing process.
Traditional wound care and advanced wound care products are the two main categories of the wound care market. Traditional wound care is mostly used in the hospitals, clinics and healthcare centres under the dry environment to protect the wounds from foreign particles. Advance wound care, which may use the wet environment is used by specialists to improvise the wound healing in the treatment of chronic wounds like burns. The advanced wound care segment is classified into moist wound care dressings, biologics, negative pressure wound therapy and other therapeutic devices based on the type of technology, with the biologic wound care market growing rapidly in recent years. The biological wound care comprising of collagen dressings, skin substitutes, growth factors, and others is growing due to the proper reimbursement policies in the United States.
The global advanced wound care market was estimated net worth of close to USD6.0 billion in 2016 and is expected to cross USD9.4 billion by 2024f with an increasing CAGR of 8.1% in the forecast period between 2017e and 2024f.
The increase in the number of geriatric population, decrease in the costs of treatment for chronic products, the decline in the hospitalization and repeated visits, growing awareness among the patients, supporting reimbursement policies from the government, inclining cases of diabetes, and recent advances in the technology are propelling the growth of wound care market. However, the expenses involved in the setup and maintenance of these devices is restricting the market growth to some extent.
North America is the major contributor to global wound care market and will continue its lead over the forecast period. The rising prevalence of chronic diseases, increasing awareness among the people, the advent of new technologies, growing competitive landscape, modern healthcare systems, increasing customer spending and support from the government are expected to increase the market share of Asia Pacific region in the future.
The report delivers a strategic analysis of the global market for advanced wound care products and growth forecast for the period from 2017e – 2024f. The scope of the report includes competitive analysis of various market players who are operating in the market, segmental analysis based on type of indication. It also covers geographical analysis of the market with growth forecast for the period of 2017e – 2024f. The Porter’s Five Forces analysis and value chain analysis included in the report provides an insight into market dynamics and industry competition.
The study also provides information for recent merger and acquisition deals happened in the global advanced wound care market. Moreover, the report also includes growth strategies and entry barriers to be considered to cater to the exact business opportunities in this market. Additionally, to aid in strategic decision making, the report also includes competitive profiling of leading players, recent developments in the industry and various business strategies adopted by them. This report will help players in global advanced wound care products market to plan and implement their strategies in different market areas such as emerging geographies, and new technologies
The company profile section includes detailed analysis of some of the key players such as Smith & Nephew, Molnlycke Health Care, ConvaTec, 3M Health Care, Coloplast, Medtronic (Covidien). Paul Hartmann, B. Braun Melsungen, Acelity, and Medline Industries
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