10 March 2021
Visiongain has published a new report on Active Wound Care Market Report to 2031: Forecasts By Product Type (Allograft, Synthetic Skin Grafts, Xenografts, Collagen Dressings, Amniotic Tissue Grafts, Growth Factors), By Wound Type (Chronic Wounds and Acute Wound), By End User (Hospitals and Clinics, Ambulatory Surgical Centers, Diagnostic Centers, and Home Care Settings) PLUS COVID-19 Recovery Scenarios.
Global Active Wound Care Market size is projected to reach US$ XX Million in 2021 and is expected to display strong revenue growth through to 2031.
COVID-19 Impact on Active Wound Care Market
The impact of the COVID-19 virus outbreak on certain medical products is estimated to be more prominent due to a decline in non-emergency medical care services and procedures. Over 2 million non-emergency procedures were canceled in the United Kingdom to free up healthcare resources to battle against this virus outbreak. Likewise, the hospitals witnessed a 30-60% drop in hospital visits after the declaration of the pandemic in the United States. As per the statistics published by Tissue Analytics, Inc., from March to April 2020, around a 40% decline has been seen in the hospital visits in wound centers compared to 2019.
Countries altogether have moved healthcare resources such as nurses, hospital beds, medical devices, and essential personnel for the management of patients with coronavirus. This has caused the exception of wound care from the crucial procedures list in most countries. Healthcare facilities with hospitals with dedicated wound care departments and specialized wound care clinics have been shut with the number of beds available in this situation as they are being used for COVID-19 patients. This has affected the patient visits to wound care centers, and casualty departments, mainly in the United States and European countries.
Growing Incidence of Chronic and Acute Wounds to Boost the Demand for Active Wound Care Products
Worldwide, the growing incidence of chronic wounds including traumatic and surgical wounds is likely to upsurge the number of patients go through wound care treatment. According to the group purchasing organization – Prime Source, around 6.5 million people are with chronic wounds in the U.S. The total cost burden of wounds in the U.S. is $39 billion annually.
Similarly, as per the CDC, in the U.S., the total incidence of surgical wounds was nearly 2.8% in 2018. Thus, the rising incidence of hard-to-heal wounds upsurge the demand for these products for its treatment and consequently, pushing the global active wound care market growth in the forecasted period.
Launch of Innovative and Advanced Wound Products is Driving the Target Industry Growth
Technological advances are anticipated to have a positive impact on the target industry growth. For instance, in February 2019, Axio Biosolutions introduced MaxioCel - contains chitosan and is used in the cure of chronic wounds. Furthermore, in January 2019, the U.S FDA has approved Platform Wound Dressing (PWD) launched by Applied Tissue Technologies LLC. It eradicates the use of foam dressings. Therefore, rising spending in research & development activities and the launch of innovative wound healing products by companies operating in the industry are anticipated to eye witness significant growth on the account of implementation of new wound dressings methods and active treatments for the management of both acute as well as chronic wounds.
Introduction of Active Treatments for Wound Care
People are looking for an imperative and effective cure for chronic wounds such as diabetic ulcers, vascular ulcers (e.g., venous and arterial ulcers), and pressure ulcers (PUs). The products including advanced growth factors and biological skin substitutes are well-known and clinically proven in the treatment of acute as well as chronic wounds. Presently, key players aiming to introduced new bioactive products in the market to maintain their presence worldwide. For instance, in July 2019, Angelini ACRAF S.p.A. launched a new active wound cleanser. The company started the advertising, promotion, and distribution of its product in Italian hospitals and wound therapy centers. Such strategic moves will help to gain maximum market share in the global market.
Key players operating in the global Active Wound Care market are Smith & Nephew PLC, Acelity L.P. Inc., Ethicon Inc., Mölnlycke Health Care AB, Baxter International Inc., Medtronic PLC, 3M Company, Coloplast A/S, Convatec Group PLC, and Derma Sciences, Inc.
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