Market Research Report
Global Bioactive Wound Care Market - 2021-2028
|Global Bioactive Wound Care Market - 2021-2028|
Published: January 17, 2022
Content info: 180 Pages
Delivery time: 2 business days
The global bioactive wound care market size was valued at US$ XX million in 2020 and is estimated to reach US$ XX million by 2028, growing at a CAGR of XX % during the forecast period (2021-2028).
A wound disrupts the skin's epithelial lining or mucosa that causes thermal or physical damage. An Alginate dressing or pad is applied to the wounds in bioactive wound care to aid healing and prevent further contamination and injuries. Bioactive wound care dressing differs from standard bandages in that it is designed to remain in direct contact with the wound.
The technological advancements are expected to drive the global bioactive wound care market in the forecast period.
Technological advancements are expected to drive the global bioactive wound care market growth in the forecast period
Wounds are caused by several factors, including surgery, injuries, extrinsic factors (such as pressure, burns, and cuts), or pathologic conditions such as diabetes or vascular disease. Depending on the underlying causes and consequences, these types of damage are classified as acute or chronic wounds. Acute wounds usually heal systematically and appropriately, resulting in the long-term restoration of anatomical and functional integrity.
Deliverable bioactive compounds such as essential oils, antibiotics, and natural antioxidants, for example, stimulate dressing interaction with the wound microenvironment and enhance therapeutic action through antimicrobial, antifungal, and antiseptic activities. A variety of fabrication techniques, including film-casting, electrospinning, self-assembly, freeze-drying, emulsions, and microsphere injection, have been used to create wound dressings based on synthetic macromolecules or natural materials.
The high cost of wound care is expected to hamper the global bioactive wound care market
Wound care is expensive, costing at least $28.1 billion per year just for the Medicare population. Patients with wounds can be difficult to treat because they frequently have multiple comorbidities that impede wound healing. The United States accounts for 2% of the world's population. According to a conservative estimate, the staggering cost of caring for these wounds exceeds $50 billion per year. This is ten times the World Health Organization's annual budget. Although the prevalence of chronic wounds is comparable to that of heart failure, the outcome of these patients or the relative effectiveness of the treatments they receive is very little.
Hence, the high cost of wound care is expected to hamper the global bioactive wound care market.
The pandemic and changes to the healthcare system during the lockdown were responsible for the closure of many outpatient clinics and the suspension of non-urgent surgical procedures, which were extremely detrimental to patients suffering from chronic wounds with clinical worsening of pressure and vascular inflammatory, and diabetic ulcers. Hence, the bioactive wound care market is expected to be affected.
Alginate dressing is expected to dominate the market growth in the forecast period
Alginate is a biopolymer with beneficial biocompatibility and non-toxicity used in various biomedical applications. To date, it has proven to be particularly appealing in wound healing applications. It can be tailored to materials with wound healing properties. Alginate has been used to make various wound dressing materials, including hydrogels, films, wafers, foams, nanofibres, and topical formulations. Alginate wound dressings can absorb excess wound fluid, maintain a physiologically moist environment, and reduce bacterial infections at the wound site.
Alginate dressings are natural wound dressings made of highly absorbent materials that promote healing. These are commonly used in exudnent wounds with excess fluid. Alginate dressings are typically made from seed wood, making them highly absorbent and providing a moist wound environment that is beneficial in treating dry injuries. Furthermore, alginate dressing is appropriate for treating bleeding wounds and keeping nerve endings moist, reducing pain. This makes them more desirable in treating heavily draining wounds, surgical wounds, first and second-degree burns, and donor sites, which is expected to fuel segment growth over the forecast period. For instance, the hydrogel is one of the most promising alginate forms being used in wound healing because it retains moisture and absorbs excess exudate, it reduces local pain due to its cooling effect, it does not adhere to the wound, and can hold active compounds such as various drugs, signaling molecules, or stem cells.
North America region is expected to hold the largest market share in the global bioactive wound care market
The factors driving the market in this region are the growing aging population, the increasing incidence of diabetic patients.
According to CDC, in 2018, in the US population, 34.2 million people of all ages (or 10.5 percent of the US population) had diabetes. Diabetes affects around 34.1 million adults aged 18 and up, or 13.0 percent of all adults in the United States. With an increasing number of diabetes patients, the bioactive wound care market is expected to grow in this region.
For instance, a diabetic foot ulcer is a wound that occurs in approximately 15% of diabetic patients and is mostly found on the bottom of the foot. Six percent of those who develop a foot ulcer will be hospitalized due to infection or another ulcer-related complication. Diabetes is the leading cause of non-traumatic lower extremity amputations in the United States, with 14-24% of diabetic patients requiring an amputation if they develop a foot ulcer. 85 percent of diabetes-related amputations are preceded by foot ulceration.
The global bioactive wound care market is moderately competitive with acquisitions, mergers, and product launches. Some of the key players in the market are 3M, Convatec, Molnlycke Health Care, Smith and Nephew, B. Braun Melsungen AG, Harro Hofliger Verpackungsmaschinen GmbH, Acelity L.P.Inc, AdvaCare Pharma, Safe n' Simple, Gana R&D.
Overview: The 3M Company is a multinational conglomerate based in the United States that operates in worker safety, US health care, and consumer goods. The company was founded in 1902. It is headquartered in Minnesota, United States.
Product Portfolio: The company provides integrated solutions such as advanced and acute wound care dressings and products, medical tapes, sterilization products, and patient prep and warming products. The company manufactures 3M Tegaderm Hydrocolloid Dressing.
Key Development: On May 2nd, 2019, 3M acquired Acelity, Inc. and its KCI subsidiaries worldwide from a consortium comprised of Apax Partners-advised funds (the Apax Funds) and controlled affiliates of the Canada Pension Plan Investment Board (CPPIB) and the Public Sector Pension Investment Board (PSP Investments) for a total enterprise value of approximately $6.7 billion, including debt assumption and other adjustments.
The global bioactive wound care market report would provide an access to an approx. 45+market data table, 40+ figures and 180 pages.
Global Bioactive Wound Care Market- By Product
Global Bioactive Wound Care Market- By Application
Global Bioactive Wound Care Market- By Region
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