North America Held the Largest Share in the Global Advanced Wound Care Market due to Increase in Geriatric Population

The global advanced wound care market was valued at $10,659.6 million in 2015, and it is expected to grow at a CAGR of 7.0% during the period 2016-2022. The advanced wound care market is growing due to increasing geriatric population and increasing awareness about these products combined with its increasing adoption. Increasing incidences cases of obesity and diabetes are also leading to increased demand for advanced wound care products. Among the different types of advanced wound care, the advanced wound dressing segment is expected to witness the fastest growth during the forecast period.

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Advanced wound care products have better therapeutic efficacy as compared to the traditional wound care products, such as gauge, bandage, sponge and others. The utilization of advanced wound care products promote the wound healing process and reduces the recovery time. As a result, demand for advanced wound dressing, wound therapy devices and active wound care products is expected to increase. These are used in both inpatient facilities and outpatient facilities to provide better treatment to patients suffering from burns, ulcers, surgical wounds and chronic wounds. Advanced wound dressing include foam dressing, hydrocolloid dressing, alginate dressing, film dressing, hydrogel dressing, collagen dressing and others. Wound therapy devices include negative pressure wound therapy (NPWT) devices, oxygen and hyperbaric oxygen equipment, electrical stimulation devices, and others to promote wound healing. Active wound care products include artificial skin and skin substitutes and topical agents.

Some of the key companies operating in the global advanced wound care market include 3M Company, Coloplast Corporation, ConvaTec Inc., Medtronic plc, Smith and Nephew plc, Integra Life Sciences Corporation, Molyncke Health Care, Mo-Sci Corporation, Organogenesis Inc., Acelity L.P. Inc., DeRoyal Industries Inc., DermaRite Industries LLC., Derma Sciences Inc., Hollister Incorporated and CONMED Corporation.

News Courtesy: P&S Market Research

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