“Global Advanced Wound Care Market – Analysis & Forecast” Purchase This Report by calling ResearchnReports.com at +1-888-631-6977.
The report Global Advanced Wound Care Market – Analysis & Forecast (2016-2022) : Focus on Advanced Wound Care Dressings, NPWT Devices, HBOT Devices, Wound Care Biologics, Ultrasonic Devices, and Electronicmagnetic Devices. The market projects to grow at a CAGR of 5% and the market would reach above UAD 10 million. The advanced wound care market is majorly segmented into four major categories that include advanced wound dressing, NPWT, wound care biologics, and other products. The market for wound dressings is more inclined towards advanced wound dressing products due to the offered fast and safe healing properties Advanced wound care dressings accounted for the largest market share of the advanced wound care technology market in 2015. Easy applicability and availability along with clinical competence are some of the major factors that are expected to boost the advanced wound dressing segment market in the future. Antimicrobial dressings were the largest product segment that accounted for a majority of market share in 2015. Moreover, the collagen based bio-active dressings are expected to exhibit the highest growth during the forecast period from 2016 to 2022.
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Geographically, North America dominated the global advanced wound care market in 2015. Furthermore, North America was the largest geographical market for wound care biologics and NPWT devices due to the large patient base suffering from diabetes associated with foot ulcers, pressure ulcer and geriatric population. In 2015, it has been estimated that more than $13 billion was spent on pressure ulcer management in the U.S. Furthermore, the Centers for Disease Control and Prevention (CDC) and National Institutes of Health (NIH) estimates that as of 2015, there was over 9.4 million pressure ulcers patient in the world. In the U.S. alone, more than 2.5 million pressure ulcers are cured in hospitals and acute care facilities. Moreover, Asia Pacific is poised to show immense growth in the advanced wound care market during the forecast period. According to the World Health Statistics 2014 report, published by the World Health Organization (WHO), Japan has the longest life expectancy in the world. The organization also reported that, until 2012, Japanese women has the longest life expectancy of around 87 years globally. Thus, the rise in life expectancy of the population in this region along with high demand for superior quality of life would escalate the demand for wound management products during the forecast period. However, as the consumers belonging to this region are highly cost-conscious; hence the future growth of the market would depend on pricing and efficacy of the products.
The top four wound care companies, Acelity, Inc., Smith and Nephew plc, Molnlycke Healthcare and ConvaTec account for over 54% of the advanced wound care market globally, with their principal emphasis around wound dressing, and NPWT devices. These companies are expected to dominate the advanced wound care market during the forecast period as the application of NPWT devices, and wound care biologics is anticipated to grow in near future. However, stringent regulation reimbursement and pricing pressures, and the beginning of competitive bidding models expect to temper growth rate of these companies. However, the growth of episode-based payment models and the quality-of-care payment models will enable the companies to better track and manage chronic wounds across various care settings, thus providing sustained growth in the long-term perspective.
This study includes an extensive analysis of the advanced wound care market, by product type, wound, and geographical regions, allowing research to develop a comprehensive outlook of the market. The market report presents a detailed and investigative study of the entire market and provides a comprehensive insight into various forms of developments, trends and key participants.
While highlighting the key driving and restraining forces for this dynamic market, the report also provides a comprehensive section on competitive landscape, market share analysis, competitor benchmarking (matrices), and their positioning within the global advanced wound care market.
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The research study tries to answer various aspects of the advanced wound care market with the help of central factors driving the market, threats that can possibly slow down the overall market growth, and the current growth opportunities that are going to shape the future trajectory of the market expansion. The study takes into account the growth-share matrix model for an in-depth study of the advanced wound care market and makes an assessment of the factors governing the same.
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