Wound closure and advanced wound care devices are used for the closure of the wound. Increasing surgical procedures & chronic conditions are driving the market.
BOSTON , MASSACHUSETTS, U.S., April 26, 2018 /EINPresswire.com/ — The wound is a breakdown in the protective function of the skin and loss of connectivity of epithelium by intentional or unintentional purpose that needs to be closed using different wound care products depending on the condition and span of the wound. Types of wound closure products like primary closure products are used in closure of fresh and acute wounds, whereas, secondary closure products are used in closure of chronic wounds. Primary wound care products are mainly used in surgical and trauma laceration applications and secondary wound care products in burns, ulcers, radionecrosis and others. These wound closure and advanced wound care products are mainly used in therapeutic procedures to avoid complications and enhance patient safety.
According to IQ4I analysis, the wound closure and advanced wound care global market is expected to reach $25,268.9 million by 2023. Increasing incidence of aging population and prevalence of lifestyle diseases, increase in surgical procedural volume, increase in prevalence of chronic wounds and government initiatives are some of the factors driving the wound closure and advanced wound care market. Demand for biologics, emergence of technically advanced products and acquisition to open an array of opportunities for market to flourish are some of the opportunities for wound closure and advanced wound care market. However, lack of trained professional in handling the sophisticated advanced wound care techniques, expensive sealants and glues impeding effective penetration in low and middle income countries are some of the factors hampering the market growth.
The wound closure and advanced wound care global market is mainly segmented by products, applications, end-users and by geography. The wound closure and advanced wound care global market by the product is segmented into primary wound closure and secondary wound closure. The primary wound closure product segment accounted for the largest share in 2016.
Based on applications, market is segmented into burns, ulcers, surgical wounds, trauma lacerations and radionecrosis. Ulcers are expected to grow at a strong CAGR from 2016-2023, due to increase in aging population and lifestyle diseases.
Among the various end users of the wound closure and advanced wound care market hospitals generated the largest revenue in 2016, due to usage of wide range of primary and secondary wound closure products which enhances patient safety thus driving the market growth rate.
Wound Healing Foundation (U.S.) along with the partnership with Wound Reach Foundation, that works with an aim of improving the quality of life for wound healing patients and their families through support of awareness, research and education has announced the research grant of $2,500 for the year 2017 to stimulate clinical research in wound healing.
Advancements in technology includes nanotechnology wound closure, skin substitutes, gene therapy, low level laser therapy, growth factors, Top closure 3S system, 3D printed skin for burn wounds, RECELL and various types of surgical sutures. One of the emerging trend in this market includes growth factors, these are the substances that are used to stimulate the growth and proliferation of the cells involved in wound healing and reduction of inflammation, these cells are secreted by the body and these factors influence the growth of wound healing cells by increasing their numbers, thus resulting in faster wound healing. Presently growth factors are most often used in patients with chronic and non-healing wounds such as chronic venous leg ulcers and diabetic foot ulcers. Cutimed Epiona developed by BSN Medical is a new VLU integrated solution that features a process of removing exudates and bacteria, reducing edema and preventing recurrence of chronic wounds. This product involves BSN’s DCC technology for infection management and it’s a type of native collagen that helps to rebuild the tissue.
Developed regions such as North America commanded the largest market share in 2016 due to high investments in healthcare infrastructures, availability of government funds improved market growth in this region. However, Asia-pacific region is expected to grow at the highest CAGR from 2016-2023 due to increased healthcare awareness, improved economic growth, and increasing awareness among the people about the impact of chronic wounds. Significant launch of new products, agreement, partnership, collaborations, and joint ventures are the industry trends that are playing a major role in the market growth.
Companies such as Acelity, Baxter International, 3M, Smith & Nephew and Johnson & Johnson that are ahead of other companies are considered to be leaders in this space with their marketed products and strong pipelines. Acelity and Smith & Nephew are leading in negative pressure wound therapy market while, Acelity and Organogenesis are major players in biological products. Some of the new and small entrants are trying to work on secondary wound closure products, as most of the established players are with primary wound closure products to achieve competitive advantage.
Emerging players of this market includes Organogenesis (U.S.), Kerecis (Iceland), Stratatech Corporation (U.S.), Nuo therapeutics (U.S.), Ackermann Instruments (Germany), The medicine company (U.S.), Derma Sciences (U.S.), Assut Medical Sarl (Switzerland), Dolphin Sutures (India).
Major players in the wound closure and advanced wound care global market Smith & Nephew (U.K.), Johnson and Johnson (U.S), Medtronic (Ireland), 3M healthcare (U.S), Acelity, Ltd. (U.S.), Coloplast (Denmark), C.R.Bard (U.S.), Baxter International (U.S.),Cardinal Health (U.S.), Integra life science (U.S.) and B. Braun Melsungen AG (Germany).
Mr. Satish Birudukota
IQ4I Research & Consultancy Pvt Ltd.,
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Source: EIN Presswire