Global $11 Billion Advanced Wound Care Markets, 2016-2019 & 2019-2024

DUBLIN, Sept. 12, 2019 /PRNewswire/ -- The "Global Advanced Wound Care Market: Focus on Advanced Wound Care Dressings, NPWT Devices, Wound Care Biologics, HBOT Devices, Ultrasonic Devices, and Electromagnetic Devices - Analysis and Forecast, 2018-2024" report has been added to ResearchAndMarkets.com's offering.

The global advanced wound care market, by-products, was valued to be $8,904.6 million in 2018 and is estimated to reach a market value of $11,059.3 million by 2024 at a CAGR of 3.62% from 2019 to 2024.

The future growth of the advanced wound care market is expected to be driven by favorable demographic factors such as the growing aging population and rising incidences of chronic wounds. The market is subject to intense competition and the rising demand by the governments to reduce spending on healthcare is dragging the market growth.

Advanced wound care products are aimed at treating acute and chronic wounds. It is estimated that the economic costs associated with chronic wound management in the U.S. are pegged between $28.1 to $31.7 billion for 8.2 million affected patients. Although wound care challenges remain, advancements over the past decade have improved the clinician's armamentarium in the medical and surgical management of wounds.

The incorporation of technological advances with the comprehensive understanding of the complex molecular mechanisms of wound healing has led to the development of various advanced wound healing modalities, such as synthetic skin and tissue substitutes, negative pressure wound therapy (NPWT), and hyperbaric oxygen therapy (HBOT). These products are progressively being accepted even by acute care centers and emergency departments to reduce the length of patient stay and reduce the overall cost of wound management.

Growing awareness of precisely formulated products and swift technological innovations are also contributing to market growth. Moreover, the escalating base of geriatric population and increasing incidence of chronic conditions such as diabetes that result in chronic wounds which need an advanced level of treatment, are also spurring opportunities for the market.

North America is estimated to be the largest regional segment with 44% market share. As the global economic power shifts away from established developed economies in North America, Europe, and Asia (Japan), the advanced wound care market are expected to witness immense growth in developing countries such as China and India and as a result, Asia-Pacific is expected to grow fastest at 5.87%. Wound biologics is expected to grow fastest at 6.02% among the three main segments of advanced wound care market-advanced wound dressings, negative pressure wound therapy and wound biologics, during the period of 2019-2024.

Research Highlights:

• Advanced wound care market has witnessed an array of product launches by key market players during 2016-2019. Product launches take 53% of the share in key developments.
• Acelity was most active during this period with 12 activities, followed by Molnlycke and Smith and Nephew with 9 and 6 activities respectively.
• The market is expected to witnessed consolidation as leading players grapple with revenue decline as a result of pricing pressure, regulatory scrutiny, demand for evidence of product effectiveness.
• 3M's acquisition of Acelity in 2019 is expected to start consolidation spree in the industry
• Each product segment has a distinct market leader.
• Molnlycke, Smith and Nephew and ConvaTec make 45% of the advanced wound dressings market.
• In the negative pressure wound therapy market, Acelity alone takes 66% of the market.
• In wound biologics Smith and Nephew, MiMedX and Integra take 53% of the market share.
• Wound biologics are the next big bets in the advanced wound care and has the potential and interest from investors to propel the growth in the advanced wound care market.
  

The report on advanced wound care tracks trends, industry participants and quantifies technologies that facilitate wound healing in conditions where standard wound care therapies fail. These technologies are classified under Advanced Wound Dressings, Negative Pressure Wound Therapy, Biologics and an array of emerging technologies such as oxygen therapy, electric simulation, spray mist, shockwave therapy.

Diving further deep, this report also discusses and quantifies the various underlying conditions for wounds, wound care global burden, and application of advanced wound care in the management of chronic and acute wounds.

The above analysis is conducted at a regional and country level and markets have been sized and forecasted by considering the impact of various underlying trends. Major industry participants and their products have been thoroughly analyzed and forecasts of their performance, market share and growth rates have been provided. The report considers 2018 as the base year and forecasts the market for the period of 2019-2024.

Furthermore, the competitive landscape chapter in the report explicates the competitive nature of the global market and enables the reader to get acquainted with the recent market activities, such as product launches, partnerships, collaborations, business expansions as well as mergers and acquisitions, among others.

This report is a meticulous compilation of research on more than 50 players in the market ecosystem and draws upon insights from in-depth interviews with the key opinion leaders of more than 30 leading companies, market participants, and vendors.

The report also profiles leading players such as Acelity (3M), Smith and Nephew, Molnlycke, ConvaTec, Coloplast, Hartmann, Integra, BSN Medical, MiMedX, Medline and Organogenesis.

Key Topics Covered:

Executive Summary

1 Product Definition

2 Scope of the Report

3 Research Methodology
3.1 Research Methodology
3.2 Data Sources
3.2.1 Secondary Research Data Sources
3.2.2 Primary Data Sources

4 Industry Analysis
4.1 Industry Evolution
4.2 Wound Management Cost and Supply Chain Analysis
4.3 Legal and Regulatory Framework

5 Competitive Landscape
5.1 Vendor Share Analysis
5.2 Key Strategies and Developments
5.2.1 Product Launch and Updates
5.2.2 Mergers and Acquisitions
5.3 Product Mapping
5.4 Competitive Benchmark Mapping

6 Global Advanced Wound Care Market (by Product)
6.1 Overview
6.2 Advanced Wound Dressing
6.2.1 Film Dressing
6.2.2 Foam Dressing
6.2.3 Hydrofiber Dressing
6.2.4 Hydrocolloids Dressing
6.2.5 Hydrogel Dressing
6.2.6 Collagen Dressing
6.2.7 Alginate Dressing
6.2.8 Antimicrobial Dressing
6.3 Negative Pressure Wound Therapies (NPWT Devices)
6.3.1 Conventional Negative Pressure Wound Therapy
6.3.1.1 Canisters
6.3.1.2 Pumps
6.3.1.3 Dressing Kits
6.3.2 Single-Use Negative Pressure Wound Therapy
6.4 Biologics
6.4.1 Skin/Dermal Substitutes
6.4.1.1 Allograft
6.4.1.2 Xenograft
6.4.1.3 Placenta/Amniotic Tissue
6.4.1.4 Bioengineered skin/synthetic Substitutes
6.4.2 Growth Factors
6.4.3 Topical Agents
6.5 Other Advanced Wound Care Products
6.5.1 Hyperbaric Oxygen Therapy
6.5.2 Ultrasonic Mist and Electrical Simulation Devices

7 Global Advanced Wound Care Therapy Market (by Wound type)
7.1 Overview
7.2 Chronic Wounds
7.2.1 Pressure Ulcer (PU)
7.2.2 Venous Leg Ulcer (VLU)
7.2.3 Diabetic Foot Ulcer (DFU)
7.3 Acute Wounds

8 Global Advanced Wound Care Market (by Region)

9 Company Profiles

• 3M
• Acelity
• B. Braun
• Coloplast A/S
• ConvaTec Group Plc
• Essity Aktiebolag
• Integra LifeSciences Corporation
• Medline Industries, Inc.
• Mlnlycke Health Care AB
• MIMEDX GROUP, INC.
• Organogenesis Inc.
• Osiris Therapeutics Inc.
• PAUL HARTMANN AG
• Smith & Nephew Plc

For more information about this report visit https://www.researchandmarkets.com/r/v8vx8o

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