Advanced wound care products have been increasing clinical significance on the back of growing indications for their use, notably in chronic diseases.
Advanced Wound Dressing Market: Overview
Advanced wound care products have been increasing clinical significance on the back of growing indications for their use, notably in chronic diseases. Their popularity for non-healing diabetic, venous, and arterial ulcers is also a robust undercurrent to their potential in advanced wound dressing market. They are also rising in traction in post-amputation wounds. Growing understanding the etiology of ulcer healing has proportionately improved the prospect of advanced wound dressing in the health care systems.
Some of the target populations in the advanced wound dressing market are elderly population and adults with sports injuries. Their effectiveness in improving the healing process throughout and inhibiting microbial growth are key advantages over conventional wound dressing products used commercially. A variety of wound dressings have been in use for acute wound healing in developed regions.
Some of the indications where advanced wound dressing are used in venous leg ulcers, diabetic foot ulcers, and bedsores.
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Advanced Wound Dressing Market: Key Trends
Diabetes is a prevalent chronic disease worldwide, where 15% of these patients have suffered a foot ulcer at least one point in their lifetime. Following the amputation, the mortality is high. This has intensified the clinical acceptance of advanced wound dressing market. Growing patient population with chronic ulcers of the lower extremity due to diabetes has been driving the demand.
Growing demand for appropriate wound care interventions in individuals with bed sores has been propelling technological advancements in the advanced wound dressing market. Bed sores and venous leg ulcers are considered a substantially debilitating condition for the affected in developing as well as developed countries.
Rise in demand for elderly population is a trend supporting the rise in revenue potential in the advanced wound dressing market. Some of the notable products are collagen products (COL), biological skin equivalents (BSE), biological dressings (BD), keratinocytes, platelet-rich plasma (PRP), silver products, platelet-derived growth factor (PDGF), and intermittent pneumatic compression therapy (IPC). Intensively researched therapies are negative pressure wound therapy (NPWT), electromagnetic therapy (EMT), and hyperbaric oxygen (HBOT).
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Advanced Wound Dressing Market: Competitive Analysis and Key Developments
Over the years, educational symposiums have been key part of promoting the awareness of developments related to commercialization of novel wound dressing systems. These are thronged by industry pioneers in the advanced wound dressing market. The focus of such programs is on the repair and regeneration of skin, musculoskeletal tissue, and vascular structures in chronic wounds. A recent event hosted by SANUWAVE Health, Inc. saw wound care experts evaluating the effectiveness of dermaPACE System in healing in patients with diabetic, distal ischemia. This will help clinicians try their hands at patient’s treatment plan.
Expanding research in development of new collagen materials is boosting the advanced wound dressing market. A number of players, for instance portfolio of regenerative medicine products.
Some of the well-entrenched players aiming to consolidate their shares in the advanced wound dressing market are Baxter International, Inc., Convatec Group PLC, Mölnlycke Health Care AB, and Smith & Nephew PLC. Top players are leaning on mergers and acquisitions as a key pivot for expanding their product portfolio in near future.
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Advanced Wound Dressing Market: Regional Analysis
On the regional front, advanced wound dressing manufacturers have been seeing vast potential in North America. The growing prospect of regenerative medicine products in the U.S. and Canada is one of the main drivers for expanding revenue potential in the regional market. A growing body of research on the etiology of diabetic ulcers and number of other chronic ulcers has been boosting the creation of new opportunities in the regional market.
Asia Pacific and Europe are also promisingly lucrative markets.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
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