LONDON, Dec. 19, 2016 /PRNewswire/ -- The global advanced wound care market was worth $10,659.6 million in 2015 and it is expected to grow at a CAGR of 7.0% during 2016-2022. Among the various advanced wound care types, advanced wound dressing segment held the largest share of 53.3% in the global advanced wound care market in 2015. Based on application, surgical and chronic wound segment was the largest market for advanced wound care product in 2015.
The global advanced wound care market is witnessing high growth due to increasing geriatric population, increasing road accidents and growing burn cases resulting in high demand for such products. In addition, increasing awareness about advanced wound care product is also leading to its higher adoption. Moreover, increasing incidence cases of diabetes and obesity further leads to increased consumption of advanced wound care product as these patients are more prone to ulcers.
Advanced wound care product heal wounds by regulating moisture, temperature and oxygen flow around the affected area. These are commonly used for the treatment of burns, ulcers, surgical wounds and injuries, which fail to heal in timely manner. These products assist in early recovery and reduce the complications related to the healing process. They are sterile in nature to prevent the contamination of wounds during treatment. They also serve as a barrier to protect the wounds from infectious agents present in the environment. Furthermore, advanced wound care product also reduces the scaring of tissue produced during healing process. As a result, demand for such products is expected to increase across the globe.
They are used in both inpatient and outpatient facilities to treat patients suffering from ulcers, burns, injuries, road accidents, non-healing surgical wounds and chronic wounds. Inpatient facilities are used when patients are suffering from the non-healing wounds, which require long-term admission in the hospital. The outpatient facilities are used when patients are suffering from wounds that can be treated without admitting in hospital. Inpatient facilities offer special facilities and services for the treatment of different types of wound as compared to outpatient facilities. They also held the larger share in the global advanced wound care market as compared to the inpatient facilities.
Advanced wound care includes advanced wound dressings, wound therapy device and active wound care product. Advanced wound dressing is the most commonly used advanced wound care product. They are commonly used for the treatment of burns, injuries, trauma, surgical and chronic wounds, and ulcers. Wound therapy device such as negative pressure wound therapy (NPWT) device, oxygen and hyperbaric oxygen equipment and electrical stimulation device are used for wound healing. They may be used continuously or intermittently depending on patient's condition. Active wound care product include artificial skin and skin substitutes and topical agents. They reduce inflammation, promote vascularization, prevent infectious agents and heals wound. Active wound care product are commonly used for the treatment of burns, diabetic foot ulcer, venous ulcer and others.
The restraints associated with the growth of the global market include high cost of advanced wound care product and presence of alternative treatment options. The high cost of advanced wound dressing, wound therapy device and active wound care product limits the affordability of the users. Traditional wound care product are cheaper in comparison, however, they have less therapeutic efficacy as compared to advanced wound care product. In addition, advanced wound care product are recommended by physicians when traditional wound care product such as gauge, sponge and bandage does not improve the patient's condition.
Some of the key companies operating in the global advanced wound care market include 3M Company, Coloplast Corporation, Medtronic plc, Smith and Nephew plc, Integra Life Sciences Corporation, Molyncke Health Care, Mo-Sci Corporation, Organogenesis Inc., Acelity L.P. Inc., DeRoyal Industries Inc., DermaRite Industries LLC., Derma Sciences Inc. and Hollister Incorporated.
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