Global Bioactive Wound Management Market: Snapshot
The global market for bioactive wound management has been observing a significant surge in its size, thanks to tremendous rise in the geriatric population and the prevalence of diabetes that, consequently, has led to an increment in various wound-caused diseases. Apart from this, the augmenting preference for tissue replacement therapy, escalating awareness pertaining to healthcare among consumers, and the upswing in the demand for bioactive material are boosting the growth of this market substantially.
Various chronic diseases, such as diabetes, cardiovascular disorder, peripheral vascular disorder, and several other debilitating diseases have led to an alarming rise in the cases of chronic wounds, which, subsequently, has propelled the uptake of advanced wound care products, resulting in the growth of the global bioactive wound management market. However, the high cost associated with the deployment of bioactive wound management solutions may hamper this market from growing smoothly over the next few years.
Nonetheless, the increasing adoption of technologically advanced and highly effective wound care products among medical professionals is likely to create the need for efficient management, which will reflect greatly on this market in the years to come. The market’s opportunity is anticipated to rise to US$1.1 bn by 2017 end. Proliferating at a CAGR of 11.90% between 2017 and 2022, it is likely to reach US$2.05 bn by the end of 2022.
Tropical Dressings to Report Higher Demand
The global market for bioactive wound management is primarily studied on the basis of the product, end user, and the application. On the basis of the product, the market is classified into collagen-based dressings, xenografts, bioengineered skin substitutes, allografts, and topical dressings. The demand for tropical dressings is comparatively higher than other products in this market, making the tropical dressing segment the dominant one. Rising at a CAGR of 8.50% between 2017 and 2022, this segment is likely to maintain its dominance over the next few years.
By application, the market is bifurcated into venous leg ulcers, pressure ulcers, diabetic foot ulcers, burn wounds, and surgical wounds. Since burns are the most common physical injuries across the world, the demand for bioactive wound management solutions is greater in burn wounds. Researchers expect this trend to remain so over the forthcoming years. Hospitals, clinics, ambulatory surgical centers (ASCs), and trauma centers have surfaced as the prime end users of bioactive wound management solutions, worldwide.
North America to Continue to Dominate
North America, Asia Pacific excluding Japan (APEJ), Europe, the Middle East and Africa (MEA), Latin America, and Japan have emerged as the main regional markets for bioactive wound management. Expanding at a CAGR of 12.80%, the North America market for bioactive wound management is expected to continue to dominate the global market during the period from 2017 to 2022. The presence of a highly advanced and sophisticated healthcare infrastructure is likely to boost this regional market in the near future.
Among other regional markets, APEJ is anticipated to report a promising growth over the coming years on account of the advancement in medical and healthcare infrastructure in various emerging Asian economies. The implementation of favorable reimbursement policies is also projected to reflect positively on this regional market in the years to come.
Acelity L.P. Inc., MiMedx Group Inc., Smith & Nephew Plc., Integra Lifesciences Holdings Corp., 3M Co., Wright Medical Group N.V., Covalon Technologies Ltd., ACell Inc., and Symatese are the main players operating in the global bioactive wound management market.
Global Bioactive Wound Management Market: Overview
The global market for bioactive wound management is observing a tremendously high rise, thanks to remarkable advancements in the medical and healthcare infrastructure across the world, especially in developing economies. This research study offers a thorough assessment of the key drivers and the restraining factors that govern the dynamics of the worldwide bioactive wound management market, together with their impact on the demand for bioactive wound management during the period from 2017 to 2022.
In addition to this, the research study talks about the potential opportunities in this market on the global along with the regional level, focusing on the analysis of the market’s attractiveness, in which the applications have been marked on the basis of their growth rate, market size, and general attractiveness of this market.
Global Bioactive Wound Management Market: Scope of the Study
The market has been forecast based on constant currency rates. The prices of bioactive wound management vary in each of the regions due to the demand-supply scenario in the respective region, which turns into non-following of a similar volume-to-revenue ratio for each individual region. The individual pricing of bioactive wound management products for each of the application segments has been considered while estimating and predicting the revenue of this market on the global level. The regional average price has been taken into consideration during the bifurcation of the market into various segments in each of the regions on the basis of several market parameters.
The research report presents the overall size of the worldwide bioactive wound management market in 2017 and the forecast for the next five years up to 2022. The size of the market and forecast for each of the product segments is offered in the context of the global as well as the regional markets. Numbers provided in this report are derived based on demand generated from different applications and types of raw materials.
Global Bioactive Wound Management Market: Segmentation
The study provides a decisive view of the bioactive wound management market by segmenting it on the basis of the product, end user, application, and the regional spread of this market. Based on the product, the market is categorized into xenografts, allografts, bioengineered skin substitutes, collagen-based dressings, and topical dressings. By end user, the market is bifurcated into hospitals, clinics, ambulatory surgical centers (ASCs), and trauma centers. On the basis of application, the market is segmented into the venous leg ulcers, diabetic foot ulcers, pressure ulcers, surgical wounds, and burn wounds.
The regional segmentation of this market includes North America, Latin America, the Middle East and Africa, Asia Pacific excluding Japan, Europe, and Japan. The market estimates for this research study have been based on the volume produced, with revenue being determined through the regional pricing trends. The cost for commonly utilized grades of bioactive wound management in each of the applications has been taken into consideration, and customized product pricing has not been included. Demand for bioactive wound management has been derived by analyzing the global and regional demand for bioactive wound management in each application.
Companies Mentioned in the Report
Acelity L.P. Inc., MiMedx Group Inc., Smith & Nephew Plc., Integra Lifesciences Holdings Corp., 3M Co., Wright Medical Group N.V., Covalon Technologies Ltd., ACell Inc., and Symatese are the leading players in the global bioactive wound management market.