New York, NY, July 25, 2018 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Active Wound Care Market by Product Type (Synthetic Skin Grafts, Allograft, Xenografts, Amniotic Tissue Grafts, Collagen Dressings, and Growth Factors); by Wound Type (Surgical Wounds, Ulcers [Pressure Ulcers, Diabetic Foot Ulcers, Arterial Ulcers, and Venous Ulcers], and Other Wounds), and by End Users (In-Patient Facilities and Out-Patient Facilities): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 - 2024”. According to the report, the global active wound care market was valued at approximately USD 950 million in 2017 and is expected to generate revenue of around USD 2,300 million by end of 2024, growing at a CAGR of around 13.0% between 2018 and 2024.
Disruption in the continuity of cells or anything which causes the separation of connecting tissue is termed as a wound. Wound healing is the restoration of that continuity. Some of the significant aspects propelling the expansion of active wound care market are rising government support such as funding for research activities, technological advancement in wound care product development, rising diabetic and geriatric population, and growing prevalence of chronic disease, increasing number of surgeries all over the world, and faster healing and recovery time are some of the key factors contributing towards the high growth of active wound care market globally.
Browse through 72 Tables & 33 Figures spread over 110 Pages and in-depth TOC on "Global Active Wound Care Market Size & Trends 2017 Analysis: Industry Type, Overview, Statistics and Forecast, 2024”.
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The increasing instances of mortality due to venous leg ulcers and diabetic foot ulcers amongst the elderly populations are further bolstering the demand for strategies related to active wound management in various developed and developing countries. The rising morbidity due to chronic wounds across the global patient population together with economic repercussions has led to the growth of this market in lesser developed societies and communities. In many of the developed and developing nations, the soaring number of cases of maturity-onset and type I diabetes has led to rising prevalence of diabetic ulcers, thus accelerating the market growth for active wound care.
The active wound care market is segmented on the basis of product type into synthetic skin grafts, allograft, xenografts, amniotic tissue grafts, collagen dressings, and growth factors. The skin substitutes or grafts are used to control pain associated with a wound. Temporary and permanent are two major type of skin substitutes. The collagen dressing segment is estimated to grow at rapid CAGR in the global active wound care market during the period of 2018 to 2024.
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Based on wound type, the market is segmented into surgical wounds, ulcers, and other wounds. The ulcers segment is further sub-segmented into pressure ulcers, diabetic foot ulcers, arterial ulcers, and venous ulcers. By wound type, the ulcer segment accounted for the high revenue share in the global active wound care market. Among the ulcer segment, the diabetic foot ulcers segment is projected to have the highest CAGR during the forecast period. Approximately 15% to 25% of individuals with diabetes develop a foot ulcer at some point in their lifetime and an estimated 12% of those patients require lower extremity amputation. Diabetic foot ulcers account for nearly 2/3 of all non-traumatic amputations. Ulcer healing is complicated by diabetic neuropathy, decreased cellular synthesis, and susceptibility to infection and hence this segment is estimated to register the highest CAGR over the period of 2018–2024.
In-patient facilities and out-patient facilities are the main end-user segments of the global active wound care market. The out-patient facilities segment dominated the market in terms of revenue in 2017.
Browse the full "Active Wound Care Market by Product Type (Synthetic Skin Grafts, Allograft, Xenografts, Amniotic Tissue Grafts, Collagen Dressings, and Growth Factors); by Wound Type (Surgical Wounds, Ulcers [Pressure Ulcers, Diabetic Foot Ulcers, Arterial Ulcers, and Venous Ulcers], and Other Wounds), and by End Users (In-Patient Facilities and Out-Patient Facilities): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 - 2024 " report at https://www.zionmarketresearch.com/report/active-wound-care-market
North America is leading the active wound care market owing to favorable reimbursement policies, rising incidences of chronic wounds, and rise in geriatric population. Furthermore, large patient base suffering from diabetes associated with foot ulcers and pressure ulcer is also significantly contributing towards the high share of the region in the global active wound care market. According to the American Diabetes Association, in 2012, about USD 245 billion was the annual cost of diabetes including healthcare expenditure and workforce productivity. Diabetic foot is the one of the most expensive chronic wound and it costs about USD 5,391 per patient according to New Cardiovascular Horizons (NCVH).
Europe is the second leading regional market and is expected to show significant growth in the years to come due to growing awareness about active wound care management in the aged population. Aspects such as rising medical tourism, growing convenience to healthcare facilities in the province, and rising incidences of chronic diseases are also expected to contribute to the growth of the market in this region.
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The Asia Pacific and Latin America markets are projected to have the highest CAGR during the forecast period. Market expansion is expected in China, India, Brazil, and other promising countries where the market penetration is just a fraction of the U.S. The increase 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.
The Middle East and Africa hold the least growth in comparison to other regions, due to lack of reimbursement policies in this region which is responsible for hindering the growth of the market. As a result, all the aforementioned parameters are expected to propel the market growth globally.
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Some of the key players in active wound care market include Smith and Nephew, Molnlycke Health Care AB, Integra Life Sciences Corporation, Baxter, Medtronic, ConvaTec Inc., Coloplast Corporation, Organogenesis Inc., KCI Licensing, Inc., Medline Industries, Inc., Avita Medical, Osiris Therapeutics, Inc., Cytori Therapeutics Inc., and Wright Medical Group N.V.
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This report segments the global active wound care market as follows:
Global Active Wound Care Market: Product Type Segment Analysis
- Synthetic Skin Grafts
- Allograft
- Xenografts
- Amniotic Tissue Grafts
- Collagen Dressings
- Growth Factors
Global Active Wound Care Market: Wound Type Segment Analysis
- Surgical Wounds
- Ulcers
- Pressure Ulcers
- Diabetic Foot Ulcers
- Arterial Ulcers
- Venous Ulcers
- Other Wounds
Global Active Wound Care Market: End-User Segment Analysis
- In-Patient Facilities
- Out-Patient Facilities
Global Active Wound Care Market: Regional Segment Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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