Sacramento, CA, January 15, 2016 --(PR.com
)-- This report analyzes the wound closure and advanced wound care market in terms of market revenue ($ million) for all segments. Wound closure is used to bring the cutting edge of wounds together for quick and better healing with no or less scarring, where as wound care products interacts with wound tissues to heal them. Wound closure and advanced wound care market are rapidly advancing at a steady rate, as estimated by IQ4I Research that the wound closure and advanced wound care global market is expected to grow at single high digit CAGR to reach $22,126 million by 2021.
The rising prevalence of lifestyle diseases such as diabetes and cardiovascular and related surgeries drives the demand for sophisticated tissue sealing alternatives as well as new technology products boost wound closure and advanced wound care market growth. In addition, the increase in the aging population and volume of surgeries along with government initiatives and wide range of available products likely to propel the wound care market. Increasing prevalence of chronic wounds, optimized physical therapies, healthy growth in biological products and acquisitions related to wound closure and care to open an array of opportunities for the market to flourish are some of the opportunities that are propelling the growth of the market.
However, lack of trained physicians restraining market growth of advanced wound closure and care products, high cost of sealants and glues impeding effective penetration in low- and middle-income countries, unfavourable reimbursement policies and reluctance in adoption of new technologies are hampering the growth of the market. The threats for the wound closure and advanced wound care market include survival of small players & new entrants and decreasing R&D funding will impact on innovation.
The wound closure and advanced wound care global market by products is segmented into primary wound closure products and secondary wound closure products which include advanced wound care products. Primary wound closure products hold the largest market revenue in 2014 and expected to grow at a CAGR of 5.8% and secondary wound closure segment is expected to grow at the highest CAGR 2014 to 2021 due to technological advancements for the treatment of chronic and active wounds, increase in surgeries and rising prevalence of lifestyle diseases are the key factors driving the growth of the secondary wound closure market.
The wound closure and advanced wound care global market by applications is segmented into six major divisions such as burns, ulcers, surgical wounds, trauma and laceration and radionecrosis. Ulcers are further segmented into pressure ulcers, venous leg ulcers, arterial ulcers and diabetic foot ulcers. Surgical wounds include general surgery, cardiovascular surgery, neuro and spine surgery, ENT, urological surgery, oncology, obstetrics and gynecology and plastics, cosmetics and reconstruction. Hospitals, community health centers and home health care are the end-users. Among these, the hospital account for major share and is growing strongly at a CAGR of 7.4%.
The wound closure and advanced wound care global market based on geography is divided into North America, Europe, Asia-Pacific and Rest of the world. North American region commanded the largest revenue market in 2014 and is expected to grow at a CAGR of 6.3%. Reimbursement schemes, increase in lifestyle diseases such as diabetics, cardiovascular diseases, acceptance of advanced wound closure products has led the market growth in this region. However, Asia-Pacific region is expected to grow at a higher CAGR from 2014 to 2021 due to increasing trends of medical tourism, large patient pool and rising aged population with increased surgeries.
Companies such as Kinetic Concepts, 3M, Ethicon, Abbott Laboratories, and Smith & Nephew are ahead of other companies are considered to be leaders in this space with their marketed products and strong pipelines. Kinetic Concepts and Smith & Nephew are leading in negative pressure wound therapy market while, Systagenix and Organogenesis are major players in biological products. Some of these new and small entrants are trying to work on secondary wound closure products, as most of the established players were with primary wound closure products to achieve competitive advantage.
Organogenesis (U.S.), Kerecis (Iceland), Stratatech Corporation (U.S.), Nuo therapeutics (U.S.), Ackermann Instruments (Germany), The medicine company (U.S.), Derma Sciences (U.S.), Assut Medical Sarl (Switzerland), Dolphin Sutures (India), are some of the emerging players in the wound closure and advanced wound care market.
Geographical wise North America is the largest market, followed by Europe and Asia-Pacific. However, the Asia-Pacific region is expected to grow at the highest CAGR during the forecast period due to increasing trends of medical tourism, large patient pool and rising aged population with increased surgeries.
Major players in the wound closure and advanced wound care global market Smith & Nephew (U.K.), Johnson and Johnson (U.S), Medtronic (Ireland), 3M Healthcare (U.S), Kinetic Concepts (U.S.), Coloplast (Denmark), Abbott laboratories (U.S.), C.R.Bard (U.S.), Baxter International (U.S.),Cardinal Health (U.S.), Integra life science (U.S.) and B. Braun Melsungen AG (Germany).
Reasons for buying this report:
· Market assessment of all segments and sub segments of Wound closure and Advanced Wound Care market
· In-depth market sizing analysis of various segments and sub segments of Wound closure and Advanced Wound Care Products, Applications, End-users and Regional markets
· Regulatory scenario across the globe
· Reimbursement Scenario
· Upcoming Technologies
· Patent Analysis
· Supply Chain Analysis
· Market share analysis of key players
· Deals, Collaborations, Financials, Acquisitions and Approvals