The wound care industry is an incredibly diverse and highly competitive arena that is ever-changing. Kalorama Information feels that the market will continue to expand over the long term due to an aging population, longer life expectancies, and an increasing number of sicker patients across all care settings.
This report, Advanced Wound Care Markets, provides breakouts of the market by category, including the following:
The emerging generation of wound care products and technologies is well-positioned to capitalize on this growth. Besides the always-improving synthetic dressing materials, newer technologies in wound treatment include the xenogeneic tissue scaffold, bilayered human dermal substitutes, recombinant growth factors, endoscopic subfascial ligation of venous perforators, and endovascular arterial repair techniques. New wound care products and devices are entering the market with lightening speed, all striving for the best clinical outcomes.
To capture this market, Kalorama breaks out the wound market further not only by application but by type of product, with further subsegmentation within product categories:
In the short term, there will be more ebb and flow in the industry due to changes in reimbursement, contract bidding, mergers and acquisitions, and changes in the delivery of health care. Patients have more complex coexisting illnesses such as diabetes, heart failure, obesity, pulmonary and vascular diseases, immobility issues and chronic wounds. These factors are all influenced by future demographic trends, economic uncertainty, the impact of health care reform, increasing numbers of uninsured patients, reimbursement pressures from third party payers, continuing shortage of nurses and physicians and increasing technology and supply costs.
Issues and trends shaping the industry that are discussed in the report include:
The information and analysis presented in this report are based on extensive surveys of senior management in the wound care market. Background information was obtained from a comprehensive search of published literature and reports obtained from various government, business, medical trade, and international journals. Key information from published literature was used to conduct over 100 face to face, telephone and email interviews with industry executives and product managers to validate and obtain expert opinion on current and future trends in the wound care industry. Interviews were also used to confirm and/or adjust market size and market share estimates, as well as in formulating market projections.
The worldwide skin ulcer treatment market reached revenues of over 7 billion in 2013. Revenues were based on sales at the manufacturers' level for the following markets:
The market is varied in terms of both product offerings and product maturity. Several of the segments within the worldwide skin treatment market are mature such as anti-infectives, skin ulcer management, and pressure relief devices, while others such as biological dressings and negative pressure wound therapy are in the growing stages of development. Thus some segments within the market are slowing in growth rates while others are driving growth. As identified in the report, conventional, mature products continue to generate the majority of sales; however, their growth rate is slow and limited by the maturity of the product and the competition. Advancements in biotechnology, biomaterials, and tissue engineering are expected to drive growth during the forecast period. Another area driving growth is the negative pressure wound therapy segment which increased in revenues by 10.8% over the 2011-2013 years.
There has been an uptick in the number of companies offering NPWT which is creating pricing pressure. Over the past few years we have seen a decline in pricing. The market is expected to exhibit an overall steady growth rate due to the increasing elderly population, rising rate of disease such as diabetes and obesity, availability of new therapeutic techniques, and the recent focus on wound care products and prevention.
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