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Wound care market to benefit from the growth of emerging economies such as India and China

Industry Sector

Healthcare and Medical

Published

12 November 2012

Author

Mike King

Type of News

Market

The global wound care market has been forecast to increase at a compound annual growth rate (CAGR) of 5.3% through to 2015, to reach a market value of $21 billion in 2015 from $16.8 billion this year. The industry is set to be driven by the increase in the aging population and the increasing demand for combination dressings.

With the cost of chronic wound care rising, efforts are underway to improve prevention, early detection and treatment.

Wound care is now the physician's choice for the treatment of both acute and chronic wounds, commonly used in the treatment of burns, diabetic ulcers and pressure ulcers. The wound care market has a significant opportunity to expand, owing to the increasing prevalence of diabetes and obesity leading to an increase in chronic wounds, in both developed and emerging economies.

Emerging economies are beginning to transition from the traditional wound care to advanced wound care, as the products in the latter segment become more affordable and the healthcare coverage expands.

The wound care market will benefit from the growth of emerging economies. Countries including China and India are already witnessing an increase in lifestyle related disorders such as diabetes and obesity, with increasing spending power. In the near future, mature markets such as the US and EU will drive the adoption of novel wound care devices and biologics, which command high prices in the market.

The market for wound care dressings, sealants and anti-adhesion products reached $2 billion in 2010. It is expected to react $2.1 billion in 2011 and will further grow to $3 billion by 2016, at a CAGR of 7%. The market for the wound healing devices/equipment segment reached a$1.4 billion in 2010 and is expected to reach $1.5 billion by 2016, at a CAGR of 1.2%.

Besides the always-improving synthetic dressing materials, newer technologies in wound treatment include the xenogeneic tissue scaffold, bilayered human dermal substitutes, recombinant growth factors, endoscopic subfascial ligation of venous perforators, and endovascular arterial repair techniques. New wound care products and devices are entering the market with lightening speed, all striving for the best clinical outcomes.

For more information on the wound care market, see the latest research: Wound Care Market

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