Wound Care Products Market Experiences Rapid Growth

The need to reduce hospital costs is driving sales of new wound care products, including advanced products with a higher price tag. These are the latest findings of Kalorama Information (New York, NY, USA), an independent market research firm.

There have been many research developments and innovations in fields such as biotechnology, biomaterials, and tissue engineering that have resulted in the acceleration of wound healing technology over the last decade. New developments are providing the health care arena of today with some truly sophisticated, highly effective wound care treatments that are poised for growth, and these advancements are taking place even more frequently, with some of the new products representing the finest advances in the past 30 years.

Beyond new products, Kalorama Information predicts the market will continue to expand due to demographic factors such as an aging population and an increasing number of patients suffering from complex coexisting morbidities such as diabetes, heart failure, obesity, pulmonary and vascular diseases, immobility issues, and chronic wounds. Pressures to cut costs and move patients out of hospitals faster are also leading manufacturers to develop more effective wound care products.

The four major wound care companies worldwide include Johnson & Johnson, Kinetic Concepts (KCI; San Antonio, TX, USA), Hill Rom (East Batesville, IN, USA), and Smith & Nephew. These companies are responsible for about 60% of the revenues of the total market. Kalorama Information estimates the worldwide wound care market reached revenues of US$14 billion in 2009 and expects an annual growth rate of over 6% for the next few years.

"Many of these new products are proven cost-savers,” said research analyst Mary Ann Crandall, of Kalorama Information. "There's always a demand to reduce hospital stays and improve patient outcomes, and a product that can save money in the long run can get a favorable result in reimbursement decisions.”

Wound healing is much like solving a puzzle that involves a series of integrated physiological processes. Various steps must be synchronized and organized in order for everything to fall into place. Without the proper signals at the correct time, a wound cannot heal properly. Having the right tools available, such as appropriate cells, proper nutrition and proper support, is essential. The arrival of more sophisticated products and a better understanding of the healing processes are increasingly helping to solve this puzzle better.

Related Links:
Kalorama Information
Kinetic Concepts
Hill Rom