03 August 2020
Visiongain has launched a new pharma report Advanced Wound Care Market Report 2020-2030: Forecasts by Product Type (Advanced Wound Dressings, Therapy Devices, Biologics, Others), by Dressings (Antimicrobial Dressing, Foam Dressing, Hydrocolloid Dressing, Film Dressing, Alginate Dressing, Hydrogel Dressing), by Wound Therapy Devices (NPWT, Ultrasound, Others), by Biologics (Skin Replacement, Collagen-Based, Cell-Based, Others), by Applications (Burns, Trauma, Surgical Wounds, Diabetic Foot Ulcers, Pressure Ulcers, Venous Leg Ulcers, Arterial Ulcers, Others), by End-users (Hospitals, Wound Care Centers, Home Healthcare, Others), by Distribution Channel (Direct Tenders, Retail). Profiles of Leading Advanced Wound Care Companies and Regional and Leading National Market Analysis PLUS COVID-19 Impact Scenarios.
Global advanced wound care market size was valued at US$ xx million in 2019 and is anticipated to reach US$ xx million in 2025 while growing at a CAGR of xx% during the first half of the forecast period i.e. 2020 to 2025. The global market size is further projected to reach US$ xx million by 2030 at a CAGR of xx% from 2025 to 2030. The overall CAGR for the global advanced wound care market is expected to be xx% from 2020 to 2030.
Traditional wound care such as gauze and compression therapies are less effective than active wound care products. Active wound dressings create an environment more suitable for healing. Active wound care products lower the intensity and duration of inflammation, increases collagen synthesis, prolong angiogenesis, and earlier wound contraction. The traditional wound care market is now in decline with active wound dressings filling the gap created. In emerging economies where traditional wound care has been widely used, a significant shift will be observed in the coming years and help drive the market.
Large Range of Available Products
The active wound care market is made up of a wide variety of products divided up into its various segments. The wide variety of products available in the market is indicated for a large number of chronic and acute wounds. An additional benefit of active wound dressings is that they can be used in a clinical setting or at home and many of them can be purchased from pharmacies paid for by consumers and not exclusively healthcare providers. Therefore, the variety in the active wound care market will contribute to growth in this market.
More Affordable Compared to Other Devices and Biologics
As the active wound care market has matured over the years, the prices of products in this market have also been reducing, making active wound dressings affordable for both clinic organizations and the general public. The competition in the market has also driven down the average price. This may ultimately benefit the active wound care market. Although the current trend has seen developed economies adapting to wound care technologies in devices and biologics, the affordability of active wound care products may still attract buyers in these markets. Active wound care provides good wound care properties at a fraction of the price of most devices and biologics.
Increasing Prevalence of Chronic Wounds
The increasing prevalence of chronic wounds in both mature and emerging economies will drive growth, albeit slowly, in the active wound care market. In mature economies, the increasing prevalence of diabetes and obesity is leading to an increase in the number of chronic wounds, including diabetic and pressure ulcers. Advanced healthcare facilities around the world have increased the life-span of people.
This has led to an increase in the number of patients with chronic wounds. Both these factors will mean an opportunity for expansion in the active wound care market. In emerging economies, the average disposable income is increasing. This will lead to more lifestyle-related diseases such as cardiovascular disease and diabetes which increases the risk of developing chronic wounds. This will further contribute to growth in the active wound care market.
Some of the major companies operating in this market are Smith & Nephew plc, Acelity (Acquired by 3M), Mölnlycke Health Care, ConvaTec, Coloplast, Organogenesis Inc., Cardinal Health, Inc., BSN Medical GmbH (Acquired by Essity Hygiene and Health AB), Generex Biotechnology Corp., Hollister Incorporated, Johnson & Johnson Services, Inc., B. Braun Melsungen AG, PAUL HARTMANN Limited, MEDTRONIC, and Zimmer Biomet.
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