The Market for Advanced Wound Care Technology
The total U.S. market for advanced wound care technologies was worth more than $2.3 billion in 2005. By the end of 2006 the market will reach almost $2.6 billion, and over a five-year period will grow at an average annual growth rate (AAGR) of 12.3% to reach $4.6 billion in 2011.
Wound care dressings, sealants, and antiadhesion products held the largest market share through the forecast period by a small margin, with 59.2% of the total market in 2006. By the end of 2011 the segment will hold 55% of the total U.S. market.
Wound healing devices account for a smaller portion of revenues with nearly 1.1 billion in estimated sales for 2006 or 40.8% of revenues. Products in this segment include electrostimulation products, hyperbaric oxygen therapies, vacuum assisted therapies, and other products.
Advanced wound care technologies have emerged from the shadows to become, in the last 20 years, significant products in the treatment of wound care. While conventionally made wound care products proteins are considerable and generally less expensive, new products and biotechnological advancements are beginning to revolutionize future growth of the wound care market. New technological products are competing in a fast track market that seeks to improve the quality of life for millions of individuals needing both acute and chronic wound care.
Ongoing patient management studies will increase the number of indications, and keeping in touch with these applications for the various advanced wound care products is good business practice. This study will provide its readers with the knowledge to adequately view and assess the advanced wound care movement and will provide insights into market potentials.
SCOPE OF STUDY
- Provides an analysis of and quantitative market forecast for advanced wound care products, including wound types by demographic category.
- Covers all key market segments: acute wounds, chronic wounds, and burn wounds. The markets for biological dressings; surgical sealants and glues; synthetic dressings; other wound healing products; and wound healing devices are all analyzed and forecasts provides to 2012.
- Includes all significant wound care consumables and wound-healing devices.
- Includes detailed market analysis and competitive analysis, and information about significant products, players, issues and trends, and other information affecting the wound care industry.
- Includes industry structure, market shares, company profiles and patent analysis.
Information for this report was obtained through primary and secondary data collection methods. Primary methods included interviews with more than 50 key executives, product managers, clinical specialists and other related key personnel involved in the wound care industry. Secondary methods included published literature, investment reports, company literature, and various business journals that have emphases on wound care and related areas.
Data for this report relates to the U.S. market in U.S. dollars at the manufacturers' level. The base year of the report is 2006, with historical data provided for 2004 and 2005, and forecast data provided for 2011. Historical, base year and forecast data are provided for each market segment of the report.
Growth rates are determined through a compilation of data including past trends, future trends, demographics, incidence, mortality, products in research and development, current product growth, etc. Competitor market share estimates are provided for each market segment for the 2006 base year
Melissa Elder is an experienced healthcare market analyst specializing in prescription and over-the-counter (OTC) pharmaceuticals and various healthcare related topics. She has worked in the healthcare field for the past 10 years and has a wide range of experience.
The total U.S. market for advanced wound care was estimated at more than $1.7 billion in 2003 and is expected to rise at an AAGR (average annual growth rate) of 10.2% to $2.8 billion.
Biological dressings, surgical sealants, synthetic dressings and other wound healing products account for $1.1 billion and will rise at an AAGR of 7.2%.
Wound healing devices, e.g., electrostimulation products, hyperbaric oxygen therapies and vacuum-assisted therapies, account for a smaller portion with $608.2 million in sales but are rising faster at an AAGR of 15%.
- The total U.S. market for wound care products in 2000 exceeded $2.1 billion. Growing at an average annual rate (AAGR) of 10.1%, this market is forecast to exceed $3.4 billion in 2005.
- The market share for wound closing technologies will rise from 58.7% to over 63% in 2005, as this segment rises at an AAGR of 11.7%.
- At 34%, synthetic dressings represent the second largest market segment, but, growing at an AAGR of 7.1%, will drop to 30% in 2005.
- Biological and biosynthetic dressings will feature the fastest growth, rising at an AAGR of 14.2% during the period.