Zion Market Research has published a new report titled “Global Advanced Wound Care Management Market by Product type (advanced wound dressings (foam dressings, hydrocolloid dressings, Hydrofiber dressings, film dressings, alginate dressings, hydrogel dressings, collagen dressings), active wound care (artificial skin and skin substitutes, growth factors) and antimicrobial dressings) for Chronic and Acute Wounds: Global Industry Perspective, Comprehensive Analysis and Forecast, 2016 – 2022 ”.
According to the report, global demand for the advanced wound care management product market was valued at approximately USD 10.9 billion in 2016 and is expected to generate revenue of around USD 15.8 billion by end of 2022, growing at a CAGR of around 6.4% between 2017 and 2022.
The Wound Healing Society defines a chronic wound as a wound that fails to progress through a normal, orderly, and timely sequence of repair or passes through the repair process without restoring anatomic and functional results. Standard wound care therapy is ineffective in treating chronic and complex wounds and additional treatment modalities need to be applied. Since chronic wounds are very painful and can lead to severe complications such as amputation and depression, advanced wound care management plays important role in treating chronic wounds.
Globally advanced wound care management market is primarily driven by increased incidences of chronic diseases such as diabetes across the world. Other major driving factors are a rise in aging population, advancement in technologies and rise in a number of surgical procedures. However, high treatment cost and reluctance to accept the newer therapies may limit the growth of the market. Increasing focus on the need for rapid healing along with wide arena of vast product range in wound care management is expected to act as an opportunity for advanced wound care management market in near future.
Advanced wound care management market is segmented into advanced wound dressings, active wound care and antimicrobial dressings based on product type. Advanced wound dressings are sub-segmented into foam dressings, hydrocolloid dressings, Hydrofiber dressings, film dressings, alginate dressings, hydrogel dressings, collagen dressings whereas active wound care is sub-segmented into the artificial skin and skin substitutes and growth factors.
On the basis of the type of wound, the market is segmented as chronic wounds and acute wounds. Chronic wounds are further segmented into diabetic foot ulcers, pressure ulcer, venous leg ulcer and arterial ulcer whereas acute wounds as burns, surgical and traumatic wounds. Based on the end user, the market is segmented into hospitals, home healthcare and others (private nursing home, pharmacies).
Advanced wound care segment contributed to largest share in 2015, however, active wound care segment will grow at fastest rate in the global market over the forecast period due to its effectiveness. Also, chronic wounds are more prevalent and will have the largest share in the market.
North America, Europe, Asia-Pacific, Latin America and Middle East & Africa are key regional segments of globally advanced wound care management market. North America is anticipated to remain the leading region over the forecast period due to a surge in patients with chronic diseases such as diabetes and other vascular diseases followed by Europe. The Asia Pacific is expected to be the most attractive region in advanced wound care market during the forecast period due to rising base of geriatric population, lifestyle changes and high prevalence of diabetic patients. Moreover, the Middle East and Africa and Latin America are also expected to show moderate growth for this market in the years to come.
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Some of the key players in cancer drugs market include Some of the key players in advanced wound care management market are 3M, Smith & Nephew plc., Acelity L.P. Inc., ConvaTec Inc., Medline Industries, Inc., Medtronic, Coloplast A/S, Organogenesis Inc. and Molnlycke Health Care.