The report also analyzes the factors affecting Advanced Wound Care market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend.
Diabetes is one of the largest global health emergencies of the 21st century. Each year more and more people live with this condition, which can result in life-changing complications.
According to the International Diabetes Federation (IDF), in 2017, number of people with diabetes in North America was approximately 46 million which is expected to grow at 62 million in 2045. The increase in the disease prevalence is around 35% during the forecast period.
Type 2 diabetes is the most prevalent form of diabetes and has increased alongside cultural and societal changes. In high-income countries up to 91% of adults with the disease have type 2 diabetes.
As per the report of IDF, one in 11 adults have diabetes in 2015, and it will decrease to one in 10 adults till 2040.
The global advanced wound care market accounted to US$ 8,181.9 Mn in 2017 and is expected to grow at a CAGR of 4.5% during the forecast period 2018 – 2025, to account to US$ 11,564.6 Mn by 2025.
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Asia Pacific is the fastest geographic market and it is expected to be the fastest revenue contributor throughout the forecast period. Asia Pacific market is driven by the factors such as to huge patient population, increases in the number of surgical procedures and rising number of wound care admit to hospitals and ambulatory care centers.
The List of Companies
1. Smith & Nephew
2. Acelity L.P.
3. Braun Melsungen AG
4. Integra Lifesciences Corporation
7. MiMedx, Inc.
8. Mölnlycke Health Care
9. Paul Hartmann AG
10. Cardinal Health, Inc.
Technological Advancement in Advanced Wound Care Products
Advanced wound care products are ideally preferred for the post-surgery wound treatment. In October 2017, Integra LifeSciences Holdings Corporation launched the Revize / Revize-X Collagen Matrix, for plastic and reconstructive surgery.
The matrix is an expandable matrix which is offering up to double the initial coverage area once hydrated and fully expanded. Likewise, Acelity innovated the V.A.C.ULTA Therapy System in the U.S.
in April 2017, The V.A.C.ULTA Therapy System, is latest generation negative pressure wound therapy (NPWT) system, which improve clinicians’ experiences by leveraging first-to-market connectivity technology.
The global advanced wound care market by product was led by dressing segment. In 2017, the dressing segment held a largest market share of 46.8% of the advanced wound care market, by product.
The dressing segment is expected to dominate the market in 2025 owing to the rising incidences of the people experiencing small and minute wounds due to the several physical activities. This segment is anticipated to witness the fastest growth rate during the forecast period, 2018 to 2025.
Wound Type Insights
The advanced wound care market by wound type is segmented into ulcers, burns, trauma, surgical, and diabetic foot. The surgical segment held the largest share of the market, by wound type.
In addition, the surgical wound is also expected to grow at the fastest rate during the coming years owing to factors such as, rising number of surgical procedures, and increasing wounds due to the surgical procedures.
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End User Insights
The advanced wound care market by end user is segmented into hospitals & clinics, ambulatory care centers, wound care centers, and others. The hospitals & clinics segment is anticipated to grow at a CAGR of 5.1% during the forecast period.
The segment is expected to drive market due to the advanced treatments offered by the hospitals and clinics are the first aid providers to the patients.
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