Global Advanced Wound Care Market
Advanced wound care is the field of healthcare which deals with highly effective and efficient management of wounds of patients, so that the healing time can be reduced and no subsequent infections arise. The advanced wound care market treatment of wounds with advanced products and medical devices, which reduce healing time and enhance the quality of medical service. The products and devices pertaining to this healing method are generally prescribed by a certified physician or a surgeon depending on proper inspection and verification of the wound. This management deals with keeping the wound moist and hydrated so that the natural healing of the injury can be enhanced.
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Advanced wound care market is growing due to rising aging population and growing incidences of diabetes; the effects of these factors are mentioned below:
- Rising aging population: The growing rate of the geriatric population category is one of the major factors driving the growth of the market as they are more prone to suffer from chronic diseases and subsequent associated wounds. This patient group requires reduced hospitalization and healing time to avoid any complications which can be achieved through application of advanced wound care products and services, over conventional wound care products. Advanced wound care products provide better protection against repetition of infections, preventing the need for prolonged course of treatment
- Growing incidences of diabetes: Along with the geriatric population, the increasing prevalence of diabetes which results in the population suffering from various ulcers and pressure wounds requires better levels of healthcare services and products. This need is growing in demand due to the rise of the population suffering from diabetes which subsequently is expected to result in greater prevalence of diabetic wounds. These wounds require special care and treatment methods so that any more complications do not arise
Innovative product launches by the manufacturers:
- In May 2019, 3M announced that they had agreed to acquire Acelity L.P. Inc. and its subsidiaries for USD 6.7 billion. This acquisition upon completion is expected to significantly enhance the medical services and technology of 3M for surgical and advanced wound care treatments. The expertise of Acelity L.P. Inc. in providing wound care solutions and enhance the technologies because of the combined technological knowledge of the two organizations
- In February 2019, Axio Biosolutions Private Limited announced the launch of an innovative new product for wound care dressings and treatment. The product termed as “MaxioCel” is the latest next-generation wound dressing made out of chitosan. The product will significantly reduce the healing time while improving the overall comfort levels of patients undergoing treatment for chronic wounds, and surgical wounds
The market is segmented on the basis of type as dressings, biologics, therapy devices; wound type is categorized into surgical wound, diabetic ulcers, pressure ulcers, venous ulcers, burns, others; end-user are segmented into hospitals, wound care centers, ambulatory centers, home healthcare, clinics, community healthcare; distribution channel are divided into direct tenders, retail.
“According to Data Bridge Market Research, global advanced wound care market is expected to grow to USD 24,054.5 billion by 2025, growing at a healthy CAGR during the forecast period of 2018 to 2025”
Some of the major players operating in market are Acelity L.P. Inc., Smith & Nephew, Mölnlycke Health Care AB, 3M, Baxter, Coloplast, ConvaTec Group PLC, Derma Sciences Inc., Ethicon Inc., Integra Life Sciences Corporation, PAUL HARTMANN Limited, Organogenesis Inc.
The market is growing at a healthy rate because of the large-scale unmet needs for effective solutions for treating wound care, as generally patients adopt conventional methods of treating wounds which results in greater risks of injuries being complicated as their effectiveness in wound healing is very limited. Treatment of wounds with traditional wound care systems only limits the intensity of the wound which requires a specialized physician/surgeon for its remedy afterwards.
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