Chronic wounds are hard to heal, which take substantial time to heal and are expensive to treat. Advanced wound care and closure products are increasingly gaining popularity as standard solutions for treating chronic wounds. Traditional products are being increasingly substituted with advanced products, mainly due to their effectiveness in managing wounds by promoting faster healing.
Advanced Wound Care and Closure Market Report, published by Allied Market Research, forecasts that the global market is expected to garner $20.5 billion by 2020, registering a CAGR of 8.0% during the period 2014-2020. Advanced wound care & closure products are emerging as a standard solution for treating chronic wounds. Traditional wound care & closure products are being increasingly substituted with advanced wound care & closure products due to their efficacy and effectiveness in managing wounds by enabling faster healing.
Attempts to reduce the duration of hospital stays in order to limit surgical healthcare costs, and the rising inclination towards products that enhance therapeutic outcomes are driving the demand for advanced wound care & closure products. The risks associated with ineffective wound healing promote the demand for combination dressings, which is a modern trend in the market that is replacing traditional wound dressing methods.
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Smith and Nephew, Kinetic Concepts, 3M, BSN medical, Covidien, ConvaTech, Derma Sciences, Integra LifeSciences, Baxter International and Coloplast are some of the major players in the global advanced wound care and closure market.
The global advanced wound care and closure market has been segmented based on type, application, end users and geography. Based on type, the global market is segmented into advanced wound closure market and advanced wound care market. According to applications, the market is segmented into Burns, Ulcers and Surgical Wounds. Based on end users, the market is segmented into hospitals & community healthcare services and home healthcare.
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