Markets for Advanced Wound Care Technologies
The total market for advanced wound care reached at $3.4 billion in 2010. It is expected to reach at $3.6 billion in 2011; it will further grow to $4.6 billion by 2016 at a compound annual growth rate (CAGR) of 4.9%.
SCOPE OF REPORT
This document is designed to be a helpful business tool that will provide a thorough evaluation of the advanced wound care market. The scope of this study is U.S. based and identifies markets in five general segments:
- Biological dressings
- Surgical sealants
- Synthetic dressings
- Anti–adhesion products and other related wound healing products
- Wound healing devices
Each market segment provides detailed information based on product categories, product use, forecasts and competitive analyses.
Advanced wound care deals with those products that involve new techniques and therapies, are of benefit in healing wounds and result in overall lower costs for care. They incorporate biotechnological advancements and improved methods for dealing with wounds. Products in this study are considered to be at the forefront of wound care technology.
Traditional wound care products, those that have previously been used in the marketplace, are not addressed in this analysis. Industry experts classify “advanced wound care products” as those that include biological dressings, surgical sealants, synthetic dressings, anti–adhesion products and other related wound–healing products.
Tracy Cotthoff is an experienced wound care nurse in a high–volume burn center in Portland, Oregon. Ms. Cotthoff has been in the medical field for over 17 years. This experience has given her a vast knowledge of medical practices and advances in the industry and new technologies. Her experience in the medical field includes EMT training and nursing, including critical care nursing, which has allowed for her substantial insight into the workings of the healthcare industry.
Melissa Elder is an experienced healthcare market analyst specializing in prescription and over–the–counter pharmaceuticals, medical devices, and emerging healthcare technologies. Ms. Elder has nearly 20 years of experience in the healthcare industry, specializing in market research for the past 14 years. This experience has given her a strong understanding of pharmaceutical market analysis. Her work in the medical community, including emergency room medical training and healthcare information system coordination, has enhanced her ability to provide insight into many healthcare markets.
- The U.S. market for advanced wound care will increase from $3.0 billion in 2007 to an estimated $3.5 billion by the end of 2008. It should reach $6.0 billion in 2013, a compound annual growth rate (CAGR) of 11.7%.
- Wound care dressings, sealants and anti-adhesion products have the largest share of the market, worth $1.7 billion in 2007. This is expected to increase to more than $1.8 billion in 2008 and more than $3.0 billion in 2013, for a CAGR of 10.0%.
- Wound healing devices have the second largest market share, generating $1.3 billion in 2007 and an estimated $1.6 billion in 2008. This should increase at a CAGR of 13.4% to reach $3.0 billion in 2013.
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.
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.