The North America Advanced Wound Care Market report published by Market Data forecast provides a detailed account of the Market Trends via Customized Research presented as Strategic Analyses, Company Profiles, Competitive Landscape, etc. According to the report the Advanced Wound Care Market is estimated to be $3.46 USD million in 2015 and predicted to rise to $4.25 USD million by 2020 with a CAGR of 4.2%. The market is segmented by application (surgical wounds, skin ulcers and burn wounds), by type (therapy devices, dressing and active wound care) and by end users (inpatient services and outpatient services). Further the market is also geographically segmented into USA and Canada.
The key driver for the growth of the wound care market is a shift from the traditional wound care practices which are painful and time consuming. Diabetic patients suffering from an injury need proper treatment from medical professionals and the advanced user friendly products/procedures are providing benefits to such patients. However, drivers like increasing aging population, developments in technology, safe treatment for chronic wounds and government funding are fueling the growth of the market. High cost of treatment with these advanced products is the major drawback for the market.
Based on application surgical wounds segment is leading the market and skin ulcer is the fastest growing sector due to the ever increasing skin problems. While differentiating by type dressing segment is the largest sector as the number of accidents are increasing at a very rapid rate. Active wound care accounts for the fastest growth under this category. Looking upon end user category, outpatient services are estimated to grow at a high growth rate.
The North America region leads the Advanced Wound Care market globally with major contribution from USA followed by Canada. US is expected to grow at highest CAGR in the forecast period. The region is the most developed and hence people are well aware with the advanced technology which provides painless and fast wound healing. US market is majorly drived by the rise in geriatric population along with diabetic patient population. A huge decline is observed in the traditional wound care market in North American region.
Key players in the Advanced Wound Care Market are Organogenesis inc., Smith and Nephew Plc., Coloplast Corp., Medtronic, Acelity L.P., Medline Industries Inc., Conva Tec. Inc., MPM Medical Inc and 3M Health Care.
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