Dublin, Sept. 17, 2019 (GLOBE NEWSWIRE) -- The "Global Advanced Wound Care Market: Focus on Advanced Wound Care Dressings, NPWT Devices, Wound Care Biologics, HBOT Devices, Ultrasonic Devices, and Electromagnetic Devices - Analysis and Forecast, 2018-2024" report has been added to ResearchAndMarkets.com's offering.
The global advanced wound care market, by-products, was valued to be $8,904.6 million in 2018 and is estimated to reach a market value of $11,059.3 million by 2024 at a CAGR of 3.62% from 2019 to 2024.
- How big is the advanced wound care market and what is its outlook for the future?
- What are the drivers and restraints of this market?
- Which technologies dominate in this advanced wound care market?
- What will be the growth of sub-segments of the advanced wound care market (advanced dressings, NPWT, biologics) and their sub-categories (films, alginates, single-use NPWT, allograft, and others)?
- How will the advanced wound care market and its sub-segments behave in different regions, and countries? What are the expected growth rates?
- What are the characteristics (GDP, disease prevalence, regulations, and reimbursements) of countries that are the major market for advanced wound care products?
- What are the key developments in this market- mergers and acquisitions, product launches, etc. in the past 3 years?
- Who are the dominant players in this market and its sub-segments?
- What strategies are deployed by leading players to maintain market share?
The market is subject to intense competition and the rising demand by the governments to reduce spending on healthcare is dragging the market growth. However, future growth is expected to be driven by favorable demographic factors such as the growing aging population and rising incidences of chronic wounds.
Expert Quote
Emerging technologies such as crab shell bandages (involving usage of abundant proteins, chitin, complex hydrogels), bacteriophages, platelets, and stem cell therapy are expected to drive advanced wound care market in future.
However, availability of these technologies in the market is a challenge for key players in the market as these products still need to showcase incremental improvement from current advanced wound care technologies and in order to convince regulators across countries to reimburse these costly treatments such as stem cell therapy.
It will take another 5-10 year for these emerging technologies to significantly capture market share from current technologies.
Scope of the Market
The purpose of this study is to gain a holistic view of the global advanced wound care market in terms of various influencing factors, such as regional adoption trends, and key developments, among others. The scope of this report constitutes an in-depth study of the market, including a thorough analysis of the products across different regions. The report includes an in-depth examination of the key ecosystem players and key strategies and developments taking place in this market. The report presents the reader with an opportunity to unlock comprehensive insights with respect to the market and helps in forming well-informed strategic decisions. The research uncovers some of the substantial parameters that must be taken into consideration before entering into the market.
Market Segmentation
The report on global advanced wound care market tracks trends, industry participants, and quantifies technologies that facilitate wound healing in conditions where standard wound care therapies fail. These technologies are classified under advanced wound dressings, negative pressure wound therapy, wound biologics and an array of emerging technologies such as oxygen therapy, electric simulation, spray mist, and shockwave therapy.
Diving further deep, this report also discusses and quantifies the various underlying conditions for wounds, wound care global burden, and application of advanced wound care in the management of chronic and acute wounds.
The above analysis is conducted at a regional and country level and markets have been sized and forecasted by considering the impact of various trends. Major industry participants and their products have been thoroughly analyzed and forecasts of their performance, market share, and growth rates have been provided. The report considers 2018 as the base year and forecasts the market for the period of 2019-2024.
Key Companies in the Market
Acelity (3M), Smith and Nephew, Molnlycke, ConvaTec, Coloplast, Hartmann, Integra, BSN Medical, MiMedX, Medline and Organogenesis are some of the leading players in this market.
Research Highlights
- Advanced wound care market has witnessed an array of product launches by key market players during 2016-2019. Product launches take 53% of the share in key developments.
- Acelity was most active during this period with 12 activities, followed by Molnlycke and Smith and Nephew with 9 and 6 activities respectively.
- The market is expected to witnessed consolidation as leading players grapple with revenue decline as a result of pricing pressure, regulatory scrutiny, demand for evidence of product effectiveness.
- 3M's acquisition of Acelity in 2019 is expected to start consolidation spree in the industry
- Each product segment has a distinct market leader.
- Molnlycke, Smith and Nephew and ConvaTec make 45% of the advanced wound dressings market.
- In the negative pressure wound therapy market, Acelity alone takes 66% of the market.
- In wound biologics Smith and Nephew, MiMedX and Integra take 53% of the market share.
- Wound biologics are the next big bets in the advanced wound care and has the potential and interest from investors to propel the growth in the advanced wound care market.
Key Topics Covered
Executive Summary
1 Product Definition
2 Scope of the Report
3 Research Methodology
3.1 Research Methodology
3.2 Data Sources
3.2.1 Secondary Research Data Sources
3.2.2 Primary Data Sources
4 Industry Analysis
4.1 Industry Evolution
4.2 Wound Management Cost and Supply Chain Analysis
4.3 Legal and Regulatory Framework
5 Competitive Landscape
5.1 Vendor Share Analysis
5.2 Key Strategies and Developments
5.2.1 Product Launch and Updates
5.2.2 Mergers and Acquisitions
5.3 Product Mapping
5.4 Competitive Benchmark Mapping
6 Global Advanced Wound Care Market (by Product)
6.1 Overview
6.2 Advanced Wound Dressing
6.2.1 Film Dressing
6.2.2 Foam Dressing
6.2.3 Hydrofiber Dressing
6.2.4 Hydrocolloids Dressing
6.2.5 Hydrogel Dressing
6.2.6 Collagen Dressing
6.2.7 Alginate Dressing
6.2.8 Antimicrobial Dressing
6.3 Negative Pressure Wound Therapies (NPWT Devices)
6.3.1 Conventional Negative Pressure Wound Therapy
6.3.1.1 Canisters
6.3.1.2 Pumps
6.3.1.3 Dressing Kits
6.3.2 Single-Use Negative Pressure Wound Therapy
6.4 Biologics
6.4.1 Skin/Dermal Substitutes
6.4.1.1 Allograft
6.4.1.2 Xenograft
6.4.1.3 Placenta/Amniotic Tissue
6.4.1.4 Bioengineered skin/synthetic Substitutes
6.4.2 Growth Factors
6.4.3 Topical Agents
6.5 Other Advanced Wound Care Products
6.5.1 Hyperbaric Oxygen Therapy
6.5.2 Ultrasonic Mist and Electrical Simulation Devices
7 Global Advanced Wound Care Therapy Market (by Wound type)
7.1 Overview
7.2 Chronic Wounds
7.2.1 Pressure Ulcer (PU)
7.2.2 Venous Leg Ulcer (VLU)
7.2.3 Diabetic Foot Ulcer (DFU)
7.3 Acute Wounds
8 Global Advanced Wound Care Market (by Region)
8.1 North America
8.1.1 U.S.
8.1.2 Canada
8.2 Europe
8.2.1 U.K.
8.2.2 Germany
8.3 Asia-Pacific
8.3.1 Japan
8.3.2 China
8.4 Rest-of-the-World (RoW)
8.4.1 Brazil
9 Company Profiles
9.1 3M
9.1.1 Company Overview
9.1.2 Role of 3M in the Market
9.1.3 Financials
9.1.4 SWOT Analysis
9.2 Acelity
9.3 B. Braun
9.4 Coloplast A/S
9.5 ConvaTec Group PLC
9.6 Essity Aktiebolag
9.7 Integra LifeSciences Corporation
9.8 Medline Industries, Inc.
9.9 Mlnlycke Health Care AB
9.10 MIMEDX GROUP, Inc.
9.11 Organogenesis Inc.
9.12 Osiris Therapeutics Inc.
9.13 PAUL HARTMANN AG
9.14 Smith & Nephew PLC
For more information about this report visit https://www.researchandmarkets.com/r/1u8dm2
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