June 10, 2014
Wellesley, Mass., June 6, 2014 – BCC Research (www.bccresearch.com) reveals in its new report,MARKETS FOR ADVANCED WOUND MANAGEMENT TECHNOLOGIES, the global market for advanced wound management is expected to grow to $11.3 billion by 2018, with a five-year compound annual growth rate (CAGR) of 5.6%. Growth in this market is significantly influenced by the aging and growing global population, as well as new technologies and increasing incidence of difficult-to-heal wounds.
Demand for advanced wound management options, as opposed to traditional therapies, is driven by faster healing benefits, improved outcomes, and reduced patient follow-ups. The advanced dressing technologies segment, which includes biological dressings, synthetic dressings and natural dressings, is the largest segment of the overall market and is expected to grow to $6 billion by 2018 at a 4.5% CAGR.
However, the wound healing device/technologies segment, which was valued at just $2.2 billion in 2013, is expected to jump to nearly $3.2 billion by 2018, registering a 7.6% CAGR. This market is continually experiencing rapid and significant technological changes and is often influenced by successfully developed and maintained licensing agreements.
“The wound healing device market has experienced slower growth over the past couple of years due to a reduction in hospital spending budgets and a hold on device and equipment purchases,” says BCC Research pharmaceutical analyst Melissa Elder. “However, this is not an indication of a slowdown in the need for these devices. The market will likely experience some revived growth in the forecast period, largely due to a growing number of difficult-to-heal wounds and a rise in the elderly population. Prices for devices continue to decrease slightly with an increase in lease contracts over purchases.”
Other trends that continue to shape this market include lifestyle and health issues, reimbursement issues, and military wound management.
MARKETS FOR ADVANCED WOUND MANAGEMENT TECHNOLOGIES provides an overview of the global markets for advanced wound care and related technologies. It includes analyses of global market trends, with data from 2012 and 2013, projections of CAGRs through 2018, and profiles of key companies in the industry.
Editors and reporters who wish to speak with the analyst, should contact Steven Cumming at steven.cumming@bccresearch.com.
Markets for Advanced Wound Management Technologies( PHM011H )
Publish Date: Jun 2014
Data and analysis extracted from this press release must be accompanied by a statement identifying BCC Research LLC as the source and publisher. For media inquiries, email press@bccresearch.com or visit www.bccresearch.com/media to request access to our library of market research.