WOUND CARE MARKET ANALYSIS

Wound Care Market, By Product Type (Advanced Wound Management Products(Wound Dressings, (Foam Dressings, Hydrocolloid Dressings, Film Dressings, Anti-Infective Dressings, Alginate Dressings, Collagen Dressings), Wound Therapy Devices (Pressure Relief Devices, Negative Pressure Wound Therapy Systems, Hyperbaric Oxygen Equipment, Electrical Stimulation Devices, and Active Wound Care), Surgical Wound Care Products, (Sutures and Staples, Tissue Adhesives, Sealants, and Glues) and Traditional Wound Care Products, (Medical Tapes, Dressings, Cleansing Agents))), By Wound Type Chronic Wound (Pressure Ulcers, Diabetic Foot Ulcers, Venous Ulcers, Other Chronic Wounds (Traumatic Wounds, etc.)) and Acute Wounds, (Surgical and Traumatic Wounds, Burns)), By End User (Hospitals, Clinics, Ambulatory Surgical Centers, and Others (Home Care Settings, etc.)), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)

Published In : Feb 2023
Code : CMI546
Pages :180
Formats :
Excel and PDF
Industry : Medical Devices

Market Challenges And Opportunities

Global Wound Care Market- Driver

Increasing number of product approvals by regulatory authorities

Government authorities are taking initiatives to introduce new products for better wound care management. Thus, increasing number of product approvals is expected to drive the growth of market over the forecast period. For instance, in September 2021, Omeza, a healthcare company, announced it had received an approval from the U.S. Food and Drug Administration for Omeza collagen matrix, a wound care matrix comprised of hydrolyzed fish collagen for the management of chronic wound care including partial and full-thickness wounds, diabetic ulcers, chronic vascular ulcers, surgical wounds, and draining wounds.

Increasing collaboration and partnership by market key players in the market

Key market players are focused on adoption of inorganic strategies such as collaborations and partnerships to expand their product portfolio. For instance, in October 2021, RedDress, a privately held U.S. and Israel-based wound care company, announced its partnership with Medigroup, nation’s largest non-acute care group purchasing organizations representing physician centers, surgery centers, and specialty clinics, to deliver its innovative wound care solution, ActiGraft system to MediGroup’s members. ActiGraft aims to deliver an affordable and efficacious wound solution.

Global Wound Care Market: Restraint

Increasing number of product recalls by regulatory authorities

Long term exposure of advanced surgical tape leads to continuous high moisture clinical applications which can cause tape bond failure. Thus, U.S. Food and Drug Administration recalled Class 2 device 3M Durapore advanced surgical tape, manufactured by 3M, a healthcare company, in November 2019. Hence, increasing number of product recalls can hinder the growth of market.

Global Wound Care Market: Key Developments

In March 2022, Cardinal Health, a health care company, launched surgical incise drape, which helps in reducing the risk of surgical site contamination with organisms, typically associated with surgical site infections (SSIs) and improves patient care by reducing the risk of microbial contamination.

In March 2020, Cutiscare, a leading wound care and hyperbaric medicine industry, announced launch of CareAccel, growth acceleration platform is an application which gives program directors the data and intelligence to identify healthcare providers in the community that have a propensity for treating patients with chronic wounds.