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Global Bioactive Wound Management Market , By Type , By Applications , By Regions – Global Forecasts To 2024
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Thursday, August 4, 2022
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Market Overview –
In 2015, the global bioactive wound care market was valued at USD 6.9 billion, and it is anticipated to expand at a CAGR of 6.3 % From 2024. Pressure ulcers, bedsores, and diabetic foot are conditions caused by localised harm to the skin and underlying tissue. These problems are becoming more commonplace each year. For instance, each year, there are about 1.0 million cases of pressure ulcers reported in impoverished nations like India.
Additionally, chronic wounds afflict over 5.7 million patients in the United States alone and are thought to cost USD 20 billion yearly, favourably affecting market expansion. This industry’s expansion is being impacted greatly by the increased prevalence of the aforementioned disorders.
Effective treatment is necessary to minimise infections since wound infection is a major global safety problem for medical staff and patients. The demand for these products is increasing as a result of the general increase in patients. The most frequent type of skin damage, burns cause over 195,000 fatalities yearly.
In low- and middle-income nations, where death rates are disproportionately high, incremental changes in awareness levels and rising disposable income are anticipated to have a favourable impact on industry growth throughout the projected period.
COVID-19 Impact –
Global medical care delivery has transformed as a result of the COVID-19 pandemic. Numerous hospitals and departments have had their patient profiles for COVID-19 patients revised as a result of the increased demand brought on by the rising rate of COVID-19 hospitalizations. In order to reserve or redirect the limited capacities and resources (such hospital beds and patient care experts) toward COVID-19 patient care, many elective procedures were cancelled or postponed globally.
A study that was published in Advances in Wound Care estimates that by June 2020, 80 percent of healthcare service providers who were wearing PPE kits while performing COVID-19 service tasks would have suffered from various skin injuries, including device-related pressure injuries, moisture-associated skin damage, and partial to full-thickness skin tears. In severe circumstances, these wounds can result in the partial or whole loss of skin flaps as well as persistent wounds. The nasal bridge, cheekbones, ears, forehead, armpits, groyne, and extremities are the most common sites for such wounds.
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Doctors and nurses treat such wounds with wound care items such foam dressings, hydrocolloid dressings, various oils/creams, and other oils mixed with dressings while wearing grade 2 and 3 PPE kits. During the COVID-19 pandemic and the projection period, these cases all over the world are anticipated to fuel the expansion of the wound care products market.
Market Dynamics –
Numerous medical diseases impair wound healing specifically. Acute and chronic wound cases have significantly increased over the years, mostly as a result of factors like an increase in surgical procedures, an increase in traumatic wounds, an increase in the geriatric population, and an increase in the prevalence of diseases like diabetes and obesity, which make wounds more complicated in general and infections, ulcerations, and other chronic wounds in particular.
Due to reduced regulatory obstacles, better patient potential, improved healthcare infrastructure, rising particulate population, and healthcare expenditure, many emerging countries have tremendous growth potential for the medical industry, such as the wound care market. India, South Korea, Malaysia, Vietnam, Africa, and Middle Eastern nations including Israel, Saudi Arabia, and the United Arab Emirates are among the major rising nations.
The price of receiving medical or healthcare treatment has greatly increased. Costlier chronic wound management and advanced wound care products have had a negative impact on their uptake, particularly in developing nations like Asia and RoW. Less priced items are used in these areas.
Recent Developments –
The 3M Spunlace Extended Wear Adhesive Tape on Liner, 4576, was introduced in April 2021 by the 3M Company. It offers user compliance, benefits to health and the economy, and a longer wear time of 21 days.
ARIA Home PT, a remote physical therapy tool that is a member of the ARIA family of technologies, was introduced by Smith & Nephew in May 2021.
Avery Dennison’s patented BeneHold CHG adhesive technology is a feature of the surgical drape that Cardinal Health introduced in March 2020, helping to lower the risk of surgical site contamination.
Market Research Scope –
The study’s base year is 2017, and forecasts are made through to 2023. Considering the market shares of the top companies, the study gives a complete overview of the competitive landscape. Additionally, it offers data on unit shipments. These give the important market players the vital business intelligence and aid in their understanding of the Bioactive Wound Care Market’s future. The evaluation contains a forecast, a summary of the competitive landscape, a breakdown of the market shares of the competitors, as well as information on market demands, trends, drivers, obstacles, and product evaluation. In order to understand their influence throughout the forecast period, the market drivers and constraints have been evaluated. The significant growth prospects are further identified in this research, along with the main obstacles and potential dangers.
Competitive Landscape –
The market’s semi-consolidation will cause market penetration to increase in the next years. Additionally, the market is seeing an increase in merger and acquisition activity, which is predicted to make penetration simpler. For instance, Smith & Nephew PLC purchased Osiris Therapeutics, Inc. in April 2019 with the goal of accelerating the growth of its advanced wound management product portfolio. The programme will increase its consumer base.
Key Players –
Smith & Nephew PLC
3M Healthcare Ltd.
ConvaTec Inc.
Molnlycke Healthcare AB
Smith & Nephew PLC
Organogenesis Inc.
BSN Medical Inc.
Medtronic PLC
Paul Hartmann AG
Covalon Technologies Ltd.
By Type –
Xenografts
Allografts
Bioengineered Skin Substitutes
Collagen-based Dressings
Topical Dressings
By Applications –
Hospitals
Clinics
Ambulatory Surgical Centers ASCs
Trauma Centers
By Regions –
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
