Bharatbook.com added a new report on "The Future of the Wound Care Management Market to 2015" analyses market opportunities and challenges for the wound care management product manufacturers in the global arena.
Online PR News – 04-November-2009 – – “The Future of the Wound Care Management Market to 2015”, report provides key data, information and analysis on the global wound care management market. The report provides market landscape, competitive landscape and market trends information on seven market categories including advanced wound management, compression therapy, ostomy drainage bags, traditional wound management, wound closure devices, negative pressure wound therapy and pressure relief devices. This report provides comprehensive information on the key trends affecting these categories, key analytical content and usage patterns on the market dynamics. The report also reviews the competitive landscape in terms of pipeline products and technology offerings. ( http://www.bharatbook.com/Market-Research-Reports/The-Future-of-the-Wound-Care-Management-Market-to-2015.html )
Wound Care Management Market to Cross $17 billion by 2015
This report estimates that the global market for wound care management products, which was valued at around $13 billion in 2008, would exceed $17 billion by 2015 with a CAGR of 4%. The market is expected to be driven by the increasing number of surgeries and the rising prevalence of pressure ulcers, diabetic ulcers and venous ulcers. The market is also expected to be driven by technological advances and by the introduction of new and innovative therapies for wound care management. Also, increasing patient awareness is boosting the demand for wound care management. Patients are more proactive in their well being and are willing to seek physician’s advice at an early stage. Further, the availability of wide range of products to treat different kinds of wounds is increasing the acceptance of healthcare professionals.
US to Remain the Largest Market for Wound Care Management
Globally, the US remains the largest wound care management market. The US market, valued at $5.2 billion in 2008, is forecast to grow by 4% annually for the next seven years to reach $7.5 million by 2015. The US, increasing its contribution from 39% to 43% towards the global wound care management market, is expected to remain the largest market for wound care management. The US wound care management market is expected to be driven by increasing prevalence of chronic wounds, better reimbursement levels for advanced technologies, positive demographics and increased levels of patient awareness.
Introduction of New and Innovative Technologies to Improve Wound Care Management
Introduction of new and innovative technologies are helping in meeting patient demands. Technologies such as electrical stimulation, electromagnetic therapy, nanotechnology, low level laser therapy, therapeutic ultrasound, nanocrystalline silver technology, nanospider technology and use of silver and combination dressings are improving wound care management. Other emerging trends in wound care management include tissue engineering, animal-fetal cell research for regenerating tissue in chronic wounds, stem cell therapy and gene therapy. Technological advances such as improvements in synthetic dressing materials are expected to have a positive impact on the growth in the wound care management market. Newer technologies such as recombinant growth factors, endovascular arterial repair techniques, bilayered human dermal substitutes and xenogeneic tissue scaffold are aimed at further improving the wound care management.
Advanced Wound Management and Wound Closure Devices are Key Categories in the Wound Care Management Market
Advanced wound management and wound closure devices categories accounted for 42% of the overall wound care management market in 2008. Advanced wound management market is driven by the rising prevalence of chronic wounds, increasing acceptance of the healthcare professionals and improving levels of patient awareness. The demand for wound closure devices is expected to increase with the increase in the number of surgeries in cardiovascular and orthopedic markets. These surgeries represent a key growth driver for hemostats and tissue sealants market. Other surgeries which are expected to contribute to the growth of wound closure market are neurological, gynecological and urological procedures. Good surgical outcome and less morbidity seen with wound closure devices are increasing the adoption rates of these products.
Reimbursement Reforms are Limiting Market Growth in Some Regions
The reimbursement levels vary greatly in the US, Europe and Asia Pacific. Availability of reimbursement, for expensive products and treatments such as advanced wound management dressings and negative pressure wound therapy, is more in the US as compared to other countries. However, the US also has been witnessing a constant reduction in the reimbursement rates every year for some of the wound care management products. Companies operating in the wound care management market are also facing pricing pressures due to reimbursement reforms. This is hurting the companies’ top line and bottom line growth. Increasing pressure to contain costs, in economies where healthcare spend by the government is more, is leading to pricing pressures for almost all of the products. This trend is expected to continue in the future as well.
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