Wound Care Market – Latest Advancements
Mergers and Acquisitions strengthening the wound care market:
Some of the key players in wound care market are 3M, Coloplast A/S, Baxter International, Inc., Convatec Healthcare B.S.A.R.L, Derma Sciences, Inc., Ethicon, Inc., Hollister, Inc, Mölnlycke Health Care, Smith & Nephew plc, Covidien PLC, Acelity L.P, Kinetic Concept, Inc, Medline Industries, Inc, Integra Lifesciences Corporation, Organogenesis Inc and MPM Medical, Inc. SCA acquired BSN medical in 2015. In July 2014 Clayton, Dubilier & Rice acquired Healogics, the nation’s largest provider of advanced wound care services with nearly 600 hospital outpatient wound care centers. The acquisition of Healthpoint, Ltd in 2012 provided Smith & Nephew plc with an opportunity to strengthen its position in the market. The acquisition of Covidien, the second largest player in wound care market by Medtronichelped the company to strengthen its product portfolio in wound care. The acquisition of Dermagraft Assets from Shire’s Regenerative Medicine in 2014 by Organogenesis strengthens the position pf the acquirer in the chronic wound care market.
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Wound care market has witnessed various technological advancements and emerged as a standard solution to treat acute and chronic wounds. Conventional measures of wound care management are being rapidly replaced with advanced wound measure products due to the effectiveness of the latter for managing wounds, which enables faster healing. The treatment in advanced wound care includes intervention therapies and use of products such as antimicrobial dressings, collagen products, foam dressings, hydrocolloids, gauze, hydrogels, film dressings and alginate dressings. Various chronic wound conditions such as arterial ulcers, diabetic ulcers and venous ulcers can compromise the body’s restorative capabilities. The unhealed wounds do not only diminish quality of life but also increases the risk of infections and complications. Therefore, wound care is an important part of surgical recovery or disease management and is a growing medical specialty.
The research and development is growing at a faster pace in wound care market. For instance, DEBRA International in 2017 started a clinical research program, wound healing in Epidermolysis Bullosa, to develop the understanding, the causes and consequences of non-healing wounds. Also different research activities were undertaken by World Union of Wound Healing Societies in 2016 for the development of biomaterials to be used on acute and chronic wounds. Other factors favoring the market growth include increase in acute and chronic conditions such as diabetic foot ulcers, venous ulcers and pressure ulcers. According to Centers for Disease Control & Prevention, diabetes affects 23.6 million people or 7.8 percent of the population in the U.S., and one-third of all diabetics suffered from lower extremity wounds in 2016. These wounds increase the likelihood of foot problems and the potential for amputation. The packaging trends of advanced wound care products also adds to the increased demand in home care settings as people are able to use them without much medical assistance. For instance, V.A.C. VERAFLO Dressings by KCI Licensing are provided with sterile barrier by using extruded multilayers of nylon.
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Asia Pacific emerging as a key market
By geography, North America dominates the market because of the large patient pool for chronic wounds and rapid adoption of new products. According to the National Center for Health Statistics, over US $13 billion was spent on pressure ulcer management in the U.S.in 2015. Moreover, CDC and National Institutes of Health (NIH) estimated that as of 2015, in the U.S. alone approximately 2.5 million pressure ulcers were cured in medical centers. Further Asia Pacific region is ruling out the market. For instance, in January 2016 a distribution agreement was signed between Avita Medical and INDEE Medical for the distribution of its ReCell device in Japan. Also in 2012, Smith & Nephew launched 23 new wound care products in Asian and Chinese markets. Further in the same year, ConvaTec started some operations in India to up bring novel healthcare technologies and treatment measures in Asian market.
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