ROCKVILLE, Md., Feb. 13, 2017 /PRNewswire/ -- Six companies earn over half the revenue in wound care devices, according to a market research company's new report. Kalorama Information said that the top wound care companies worldwide include Johnson & Johnson, 3M, Medtronic, Hill-Rom, Acelity, and Smith & Nephew. These companies are responsible for about 56% of the revenues for the total market. The worldwide wound care market reached revenues of over $20 billion in 2016. These developments were discussed New York City-based Kalorama Information's report, Advanced Wound Care Markets Worldwide.
The top wound care product provider in 2016 was Johnson & Johnson securing 16.1% of the total wound care market, according to Kalorama Information's report. Johnson & Johnson divested its professional wound care arm in order to concentrate in other areas but continues to maintain a presence in the consumer wound care line. The company enjoys a long history of providing quality sutures for surgeons worldwide and is undoubtedly the leader in the suture market. Expanding on its expertise in the surgical closure market, the company has developed several staplers and closure systems that have influenced the market. It is anticipated that Ethicon will remain the leader in the market but it must continue to offer new innovations that capture the essence of the market either by developing them in house or acquiring technology from one of the many smaller niche companies operating in this market. Hill-Rom held the second market position. Hill-Rom specializes in pressure relief devices, beds, and supplies increasing its revenues. Acelity, owners of KCI, secured the third market position. KCI, through its V.A.C. line of products has increased its presence within the total worldwide wound care market.
"These companies dominate, but it shouldn't be seen as a market that is without opportunity for new entrants," said Bruce Carlson, Publisher of Kalorama Information. "Outside of the big six, share gets more scattered and there is still more than 8 billion dollars in market opportunity."
Exact share is provided in Kalorama's report. The market is varied in terms of both product offerings and product maturity. Several of the products within the worldwide wound care market are mature such as anti-infectives and pressure relief devices, while others such as biological dressings and negative pressure wound therapy are in the growing stages of development. Thus, some products within the market are slowing in growth rates while others are driving growth.
There are a number of companies that compete in the worldwide wound care market and competition is heated, particularly in the quest to acquire purchasing agreements and secure lucrative national contracts. Due to the intense competition over the past few years, many of the smaller companies have been absorbed by larger companies; and many larger companies have had to expand operations to accommodate the demands for outcome-valued, cost-efficient protocols. In many cases, this has led to a revamping of operations or acquisition of other products to meet those needs. In revisiting this area, Kalorama Information has observed the larger companies growing and many of the smaller companies becoming extinct due to the current healthcare environment. However, the competition has accelerated due to the continual quest for the best and most efficient products to treat wounds.
Kalorama Information's Advanced Wound Care Markets Worldwide provides market estimates and forecasts for specific product category markets such as dressings, artificial skin, NPWT, cleaning agents, anti-infectives, wound closure supplies and other markets.
View the full abstract and purchase the report here: http://www.kaloramainformation.com/Advanced-Wound-Care-10506928/
About Kalorama Information
Kalorama Information, a division of MarketResearch.com, supplies the latest in independent medical market research in diagnostics, biotech, pharmaceuticals, medical devices and healthcare; as well as a full range of custom research services. Related reports on wound care can be found and purchased at https://www.kaloramainformation.com/wound-care-market-c1516/.
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SOURCE Kalorama Information