The Global Advanced Wound Care Market will be Worth $16.3Bn by 2023

Wednesday 9 January 2013, Amsterdam

A new report predicts the global advanced wound care market to be worth $16.3bn by 2023. The market generated $6.5bn in 2011, according to Advanced Wound Care: World Market Prospects 2013-2023, published in November 2012. Clinicians and patients now prefer advanced products over the traditional ones, as they are more efficient in wound healing and reducing hospital stays. The advanced wound care market is expected to achieve strong growth in the future, driven by an aging population, and increasing prevalence of diabetes and obesity leading to more chronic wounds.

Amritha.M.Ramakrishnan, healthcare industry analyst says “The advanced wound care products have become physicians’ preferred choice for treatment of chronic wounds. New product launches, increased penetration of existing products into developing countries and technological advancements will drive future growth. In the recent years, advanced wound care products have enjoyed strong growth mainly driven by moist wound care products and to a small extent by wound care devices and biologics. Most of the research is now being focused on wound care devices and biologics, as the moist wound care market is saturated. Wound care devices, particularly NPWT have a strong place in the advanced wound care market. However, further growth in this market will be driven by low cost and easy to use models. At present, wound care biologics is the most immature market. Although, some of the biologic products have proven to be more effective than other treatment methodologies, the cost to the consumer and lack of clinical evidence are major issues. With the advanced wound care market becoming more and more competitive, the market will be driven by more cost effective and clinically significant products”.

Research suggests that the advanced wound care market will also 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, along 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. Wound care biologics are still to achieve the attention they deserve, since the high cost of treatment has prevented their wide scale use. However, the market for wound care biologics will witness strong growth as their cost-effectiveness becomes evident.

An analysis of the moist wound care, wound care devices and wound care biologics pipelines shows a number of innovative products with a great deal of promise. This new report adds to the wide range of analytical reports in healthcare and other industry areas.