Global Advanced Wound Care Market
The global advanced wound care market was valued at $12.5bn in 2015 and is forecast to grow at CAGR of 4.7% between 2015 and 2024, to reach 2024 global sales of $19.7bn. The U.S. represents roughly 50% of the total worldwide market. In the advanced wound care market, over half of the industry’s revenues come from the five largest wound care firms. However, innovation is often sourced from large number of smaller and newer advanced wound care companies. Innovators of effective wound care therapies have significant pricing power unlike other therapeutic sectors.
The wound care market is broadly segmented in to acute and chronic wound care. The acute wound care segment is expected to see a rise in growth over the next 5 years driven by products that treat burns, trauma wounds and surgical wounds. The acute wound care in the U.S. has annual incidence of around 800,000
There are 10 major categories that make up the advanced wound care market: (1) Negative pressure wound therapy, (2) Antimicrobial dressings (3) Non-adherent dressings (4) Foam dressings (5) Hydrocolloids (6) Bioengineered skin and skin substitutes (7) Film dressings (8) Growth factors (9) Alginate dressings and (10) Hydrogels.
ConvaTec, Smith & Nephew, Covidien (now part of Medtronic), Johnson & Johnson, Medline, Coloplast, and C.R. Bard are some of the key players for Pulmonary Arterial Hypertension Treatment market"
Advanced Wound Care market is comprised of established large diversified players and emerging new innovative players. The larger established companies in the space include ConvaTec, Smith & Nephew, Covidien Medical Supplies (now part of Medtronic), Johnson & Johnson, 3M, Molnlycke Health Care, Medline, Coloplast, and C.R. Bard and the emerging innovative smaller players include Derma Sciences, MiMedx, Osiris, Integra LifeSciences, Organogenesis, Lifecell (Acelity), and TEI Biosciences.
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