Wound Care Market Driven by Innovative Products

An array of new strategies is enhancing the healing time of wounds and boosting revenues for device makers. These are the latest findings of Kalorama Information (New York, NY, USA), an independent medical market research firm.

The global wound care market is varied in terms of both product offerings and product development, with several of the products, such as anti-infectives and pressure relief devices reaching maturity, while others such as biological dressings and negative pressure wound therapy (NPWT) devices in the infant stages of development. Advancements in the field have occurred due to a paradigm shift regarding the use of dressing materials, with a view of utilizing them in the same way as drugs, with specific actions, interactions, contraindications, indications, and side effects.

According to Kalorama, the worldwide wound care market reached revenues of USD 16.1 billion in 2011, and is expected to exhibit an overall steady growth rate due to the increasing elderly population, the rising rates of diseases such as diabetes and obesity, the availability of new therapeutic techniques, and advances in biotechnology, biomaterials, and tissue engineering, which are expected to drive growth during the forecast period.

“Conventional, mature products continue to generate the majority of sales; however, their growth rate is slow whereas the new biological products are growing faster and operate with less competitive activity,” said Mary Ann Crandall, wound care analyst at Kalorama Information. “Speed-healing products such as growth factors and protease modulating wound dressings are among the type of products showing stronger revenue growth as they demonstrate good results.”

According to the report, the top wound care companies worldwide include Johnson & Johnson, Kinetic Concepts (San Antonio, TX, USA), Covidien, Hill Rom (Batesville, IN, USA), and Smith & Nephew. Industry participants have attempted to diversify their offerings by acquiring smaller companies with new and innovative technology, a move that has created even more competition among the large wound care companies.

Related Links:
Kalorama Information
Kinetic Concepts
Hill Rom