Wound management: current and future markets

The global wound care market is expected to always be represented by sizeable share of basic products in wound dressings and bandages, which for the majority of wound types have clearly proven to be cost effective in producing acceptable time-to-healing and other clinical outcomes. However, advanced wound products to address complex wound types – many of which may simply evolve from otherwise simple wounds that have been neglected – are increasingly demonstrating their potential for accelerating the pace and therefore reducing the cost of wound healing.

The result is that well established wound care products that have largely tapped most of their potential patient populations have relative flat growth in sizable current sales. Emerging technologies, on the other hand, are in various stages of being developed and introduced, so they have considerable potential yet to be realized.

Illustrating this are the graphs below representing the current market size of major wound segments and the compound sales growth over the 2013-2021 forecast period, respectively.

Wound_segment_size-2013

 Source: MedMarket Diligence, LLC; Report #S249.

 Wound_segment_growth_2021

 Source: MedMarket Diligence, LLC; Report #S249.

But factors other than cost-consciousness are driving the advanced wound care market. Patients’ desire for less scarring, as well as an increased awareness of infection issues, drive the development of advanced dressings and biomaterials that reduce bacteria and heal wounds faster. An aging world population and lifestyle changes that contribute to disease frequency also factor into the market’s continued growth.

Still, there are some market restraints, primarily the high cost of new technologies. Development of substitute products threatens existing product categories, while a lack of sufficient clinical and economic evidence backing new technology hinders growth and acceptance of some more advanced wound management technologies. Improved wound prevention and a lack of regulation on tissue engineering in the EU are also expected to withhold the development of new technologies.

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