Led by the North American market, the global market for Advanced Woundcare (AWC) products is expected to reach nearly $15bn by 2020. This segment will continue to witness consistent growth due to aging populations, increased cases of diabetes and new dressings hitting the market.
Advanced wound care products are used to treat acute and chronic, hard to treat wounds which can take a substantial amount of time to heal and the prescribed treatment can be expensive. SkyQuest research indicates that advanced wounds (pressure ulcers, venous ulcers and diabetic ulcers) are rising at a rapid rate with a 50% increase between 2012–17.
Surgical wounds, venous leg ulcers, diabetic foot ulcers, burns and accidents for some of the most difficult wounds to treat, with high amounts of exudate and are frequently risk of infections.
An estimated 25–40% of patients admitted to hospitals exhibit these wounds. Amongst these, 7–10% contract an infection during hospitalization. While advanced wound dressings and improved procedures present better medical outcomes, the management of chronic/advanced wounds continues to be a complex area of treatment.
While these add significant financial burden to the individual and the community, the human cost of wounds is often immeasurable — pain, distress, embarrassment, anxiety, prolonged hospital stays, chronic morbidity or even death.
An advanced pressure ulcer (stage IV) not only causes the patient considerable pain, but can add three months or longer to the hospital stay. Similar impact is cause by other advanced wounds.
However, a large number of these wounds are preventable/treatable through modern wound dressings that include antibiotic and antibacterial use, debridement, irrigation, vacuum-assisted closure, warming, oxygenation, moist wound healing, and adding cells or other materials to secrete or enhance levels of healing factors.
Advancements in technology, combined with an increased acceptance for AWC products as the standard for treating chronic wounds have helped AWC products gain market traction across the globe. They are now being increasingly substituted over traditional wound care products. Further, the intent to decrease the duration of hospital stays and the increased proclivity towards products that enhance therapeutic outcomes are driving the demand for advanced wound care products.
SkyQuest’s Global Advanced Woundcare Landscaping reports explores the AWC segment at a macro and a micro level with a focus on the current technologies/products available, market scenario & innovation strategies of leading players.
For more information and to buy the report, please contact nikhil.dhar@skyquestt.com
