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Bioactive Wound Care Market to Witness Robust Expansion throughout the Forecast 2014 to 2020
Posted: May 24, 2019
Wound dressings are generally classified into passive, interactive, and bioactive based on the nature of action. Bioactive dressings deliver substances that are necessary or helpful in the process of wound healing. These dressings are manufactured by combining various polymers such as collagen, elastin, hyaluronic acid, alginates, and chitosan. Bioactive dressings are known for their non-toxic nature, biocompatibility, and biodegradability. These are incorporated with antimicrobial agents and growth factors to enhance wound healing. Population suffering from chronic diseases, especially diabetes and cancer, has increased significantly. These diseases are projected to drive demand for advanced wound care products in the near future.
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According to the International Diabetes Federation, nearly 382 million people had diabetes in 2013 and the number is expected to increase to 592 million by 2035. According to the WHO, around 14 million people in the world were diagnosed with cancer in 2012 and the number is likely to reach 22 million within the next two decades. This large diabetic population would also suffer from various complications such as diabetic foot ulcers, pressure sores, diabetic neuropathy, and peripheral vascular neuropathy. These complications are anticipated to accelerate the demand for bioactive wound care products. Rise in cases of chronic diseases globally are expected to increase expenditure on health care services. This is expected to boost the growth of the global bioactive wound care market.
Significant increase in patient awareness about superior quality of health drives demand for bioactive wound care products. Patients are more aware and pro-active about their health and are willing to seek physician advice at an early stage. Lack of awareness could result in problems related to wound infection. Rise in literacy rate plays a significant role in general awareness among patients for managing wound infections. Surge in per capita disposable income is encouraging people to spend more on health care. This in turn contributes to the growth of the market.
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The global bioactive wound care market can be segmented based on product type, end-user, and region. In terms of product type, the global market can be classified into alginate dressings, antimicrobial dressings, hydrocolloids dressings, and others. Based on end-user, the global bioactive wound care market can be categorized into hospitals & clinics, ambulatory surgical centers, home health care, and others. In terms of region, the global market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
North America and Europe are expected to be lucrative markets for bioactive wound care. Well-established health care infrastructure, favorable reimbursement policies, and high awareness among patients regarding personal hygiene are the major factors projected to augment the market in these regions. Acceptance of technologically advanced devices and ongoing development in wound care are anticipated to drive the market in North America. Asia Pacific is expected to account for a large share of the global market in terms of revenue during the forecast period. Large untapped population and developing health care infrastructure are likely to propel the market in the region. Moreover, high prevalence of chronic and rare diseases in Asia Pacific offers significant opportunities to players operating in the wound care market. Japan and Australia are well-established markets in Asia Pacific; however, emerging economies such as China and India provide large opportunities in the wound care market in the region.
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Major players operating in the global bioactive wound care market include 3M Healthcare Ltd., Smith & Nephew plc, MoInlycke Healthcare, LLC, Coloplast A/S, ConvaTec, Inc., Paul Hartmann AG, Organogenesis, Inc., Systagenix Wound Management Ltd., Medtronic plc, Covalon Technologies Ltd., BSN medical, Inc., and Medline Industries, Inc.
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