Bioactive wound care: Key market research findings
- Americas dominate the market geographically
- Increasing demand for combination dressing
- Key vendors – 3M Healthcare, ConvaTec, Mölnlycke Health Care, and Smith & Nephew
Technavio’s market research analysts predict the global bioactive wound care market to grow at a CAGR of almost 14% between 2016 and 2020. Favorable reimbursement policies are the fundamental driving force behind growth in this market. Bioactive wound care products are one of the most cost-effective solutions for the treatment of diabetic foot ulcers, venous ulcers, chronic wounds, and burn wounds. It is estimated that moist wound dressings are likely to be covered under insurance in the coming years, prompting their increased adoption in hospital settings and ambulatory surgical centers. During 2015, the Americas accounted for more than 43% of the market share to dominate the global bioactive wound care market, with the US and Canada being the major revenue contributors. High reported cases of chronic wounds in the US and favorable reimbursement policies by Center for Medicare and Medicaid Services and growing awareness among patients are some of the factors that will drive growth in the bioactive wound care market in the Americas during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of the bioactive wound care segments based on the product type.
“The increase in the demand for combination dressing is the latest trend in the market. Combination dressings blend the chemical and physical properties of two or more types of wound dressing products to provide optimal functionality. In most cases, an antimicrobial agent and a biological material are clubbed together to act as a combination dressing. The commonly used combination dressings are silver collagen dressings, silver alginate dressings, collagen hydrochloride dressings, and foam dressings and find application in treating chronic ulcers, traumatic wounds, and surgical wounds. For instance, Kuros Biosciences developed products that are a combination of biomaterials and bioactive substances for localized therapy,” says Barath Palada, Lead Analyst, Healthcare & Lifesciences, Technavio Research.
The alginate dressing segment accounted for over 28% of the market share to dominate the global bioactive wound care market in 2015. Alginates are biodegradable dressings taken from seaweed that contain calcium and sodium ions. This gel provides a moist wound environment. Alginate dressings tend to leave residual fibers in the wound because of the fibrous nature of alginates and triggers an inflammatory reaction as it stimulates a foreign body response. It is available in sheet, ribbon, and rope forms, and in varying sizes. Alginate dressing is ideal for moderate to heavily draining wounds, including pressure ulcers, partial and full-thickness wounds, diabetic ulcers, leg ulcers, surgical wounds, donor sites, and first and second-degree burns.
The key vendors in the market are 3M Healthcare, ConvaTec, Mölnlycke Health Care, and Smith & Nephew. To ensure product differentiation and to gain a considerable share of the market, vendors are adopting creative strategies and continually developing innovative wound healing products. Due to the presence of numerous large and small scale providers, this market appears fragmented. The recent focus on developing bioactive wound care dressing and the presence of local vendors in several countries is expected to intensify the level of competition in the market in the coming years.
A more detailed analysis is available in the Technavio report, Global Bioactive Wound Care Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
Other related reports:
