Global Advanced Wound Care Market
Advanced wound care consists of products which are used for the treatment of acute & chronic wounds like burns, ulcers, post-operative wounds etc. Advanced wound care products like foam and film dressings, hydrocolloids hydrogels, and alginates are used to hydrate the wound and encourage healing without blocking wound. Advanced Wound care market offers various solutions for patients who are suffering from chronic wounds, by providing easily accessible and economical products.
Advanced wound care market is majorly propelling by the advancements in the technologies, growing aging population, ineffective traditional wound healing methods and associated risks with them. Government initiatives and need for safer and prompt treatment for the chronic wounds are anticipated to boost the growth of advanced wound care market. Increasing prevalence rate of lifestyle disorders further leads to chronic wounds like venous leg ulcer, pressure ulcer and diabetic foot ulcer are the key factors which are anticipated to increase the global growth of market. However, High cost of treatment and less reimbursement policies for new technologies are the factors that are hampering the advanced wound care market growth.
On the basis of product type
- Advanced Wound Dressing
- Foam Dressing
- Hydrocolloid Dressing
- Film Dressing
- Alginate Dressing
- Hydrogel Dressing
- Collagen Dressing
- Wound Therapy Device
- Negative Pressure Wound Therapy (NPWT) Device
- Oxygen & Hyperbaric Oxygen Equipment
- Electrical Stimulation Device
- Active Wound Care Product
- Artificial Skin and Skin Substitutes
- Topical Agents
On the basis of the application
- Surgical and Chronic Wounds
On the basis of the end-user
- Home health care
- Community Medical Centers
The advanced wound care market consists a group of competing technologies like hyperbaric oxygen therapy devices, advanced technologies in wound dressing, biologics/bioactive products, and Negative Pressure Wound Therapies (NPWT). As the technology becomes progressive and viable, it improves quality of life of the patients. Conventional wound care products are being substituted by the advanced wound care products owing to their effectiveness and efficacy in the management of wounds by enabling speedy healing.
Based on geographical regions, the advanced wound care market is segmented as Europe, North America, Latin America, Asia-Pacific and The Middle East & Africa. North America is dominating the market having highest market share globally followed by Europe & Asia-Pacific regions. The Asia-Pacific is considered as the fastest growing market because of having fast untapped developing economies but lacking in awareness regarding the wound care management and high price is hampering advanced wound care market growth in countries like China, Brazil, India, and others.
Some of the players in global market are Oculus Innovative Sciences, Coloplast Corporation, Medtronic, Integra Life Sciences Corporation, Smith and Nephew plc, Mo-Sci Corporation, Organogenesis Inc., Mölnlycke Health Care, Acelity L.P. Inc., Derma Sciences Inc. and Hollister Incorporated, DeRoyal Industries Inc., DermaRite Industries LLC., TriStar Wellness Solutions.
- In June 2015, Oculus Innovative Sciences received 510(k) clearance from U.S. FDA for Alevicyn SG Antipruritic Spray Gel for the treatment of dermatological conditions like lacerations, itching and burning of skin, skin irritation, abrasions
- In May 2013, TriStar Wellness Solutions, Inc. signed a 3 year exclusive licensing agreement with Polytherapeutics, Inc. for PharmaDur drug delivery technology, for over-the-counter (“OTC”) products for treatment of wound care applications
- In April 2016, Integra Life Sciences Holdings Corporation and Vomaris Wound Care, Inc. entered into an agreement for the advanced wound care market
- In January 2016, the Integra Omnigraft Dermal Regeneration Matrix (Omnigraft) received USFDA approval for treatment of certain diabetic foot ulcers
Key Features of Advanced Wound Care Market Report:
- The report provides granular level information about the market size, regional market share and forecast from 2018-2024
- The report covers in-detail insights about the competitor’s overview, key findings and their key strategies
- The report outlines drivers, restraints, challenges, and trends that are currently faced by the industry
- The report tracks recent innovations, key developments and startup’s details that are working in the industry
- The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario