Products and technologies used in advanced wound management have found varying degrees of success in global markets, stemming from differences in clinical practices, cultures, sensitivities, demographics and other geographically-driven differences. At the macro view, the size of the advanced wound management market by countries falls in a typical pattern based on the relative size of the populations and healthcare markets:
Source: MedMarket Diligence report #S247
The differences between these markets in their relative adoption and use of advanced wound management technologies is illustrated in the graph below, showing the percent of each country's total market that is represented by each wound product type.
Source: MedMarket Diligence report #S247.
The size of the wound care market is ultimately determined by the clinical need for advanced wound management products. That need is most clearly reflected in the prevalence of chronic wounds and burns. Current estimates put the total annual incidence of chronic wounds at almost 9 million worldwide, and there are 177 million cases of diabetes worldwide; 10%–15% of diabetic patients will develop ulcers at some point. The market for products used in the management of specific wound types are, in decreasing size, venous stasis (as in chronic venous ulcers) decubitus ulcer (e.g., bedsores), diabetic foot ulcers and lastly (despite their acute nature) burn wonds.
It should be noted that a large proportion of wound product sales are accounted for by traditional types of wound management products. It has been estimated that two-thirds of the world’s physicians are not making routine use of advanced wound management products. Perhaps surprisingly, U.S. physicians are much more conservative in their approach to advanced wound healing technologies than their European counterparts. For this reason, the European share of the AWC market is significantly higher than the U.S. share.
The implication is that there is significant market potential, if barriers such as cost and entrenched attitudes can be overcome. It is not yet widely appreciated, even in some parts of the developed world, that the relatively high initial cost of managing hard-to-heal wounds with advanced techniques is more than offset by the savings achieved with shorter treatment periods and reduction in the demand for skilled medical attention.