In terms of ulcer, diabetic foot ulcer segment is expected to register a high rate of growth because of the rising prevalence of diabetes worldwide. According to the National Institute of Health (NIH), foot ulcer is a common problem associated with diabetes, comprising 15% of diabetics worldwide. Healing of ulcer may get complicated if not taken proper care. This factor fuels demand in the ulcer segment, which is expected to continue dominating the global market in the coming years.
The Rising prevalence of diabetes will help the global active wound care market gain momentum, predicts Fortune Business Insights, in their recent study. The study is titled “Active Wound Care Market Size, Share and Global Trend by Product Type (Biological Skin Equivalents, Growth Factors, Biological Dressings), Indication (Diabetic Foot Ulcers, Pressure Ulcers, Lower Limb Ulcers), End User (Hospitals, Clinics, Home Care Settings) and Geography Forecast till 2025: Global Market Analysis, Insights, and Forecasts, 2018 – 2025.” The market, as per the study is prognosticated to exhibit a CAGR of 5.3% and be worth US$ 2039.9 Mn from US$ 1361.7 Mn within the forecast period of 2018 to 2025.
Some of the Main Key Players Covered in the Report:
- Tissue Regenix Group
- Smith & Nephew
- Acell Inc.
- Integra Life Sciences
- Solsys Medical
- Osiris Therapeutics, Inc.
- Other Prominent Players
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Increasing Demand for Emergency Medical Aid Services to Propel Market
With the rise in geriatric population and their vulnerability to contracting various diseases, especially chronic diseases, the demand for Active Wound Care is expected to rise. Besides this, the rise in the number of road accidents and increasing demand for emergency medical aid will also help the market to gain momentum in the coming years
Furthermore, the market is expected to benefit from governments initiatives and rising investment towards the research and development (R&D) of novel healthcare solutions. Technological advancements aimed at transforming the prevailing active wound care trends will also help the market gain momentum.
However, high cost associated with active wound care treatment and medication related to may be a cause of concern, restricting the growth of the market. This, coupled with, unfavorable reimbursement policies may also hamper the wound care market share in certain regions.
Active Wound Care Market Segmentation:
- Biological Skin Equivalents
- Growth Factors
- Biological Dressings
- Diabetic Foot Ulcers
- Pressure Ulcers
- Lower Limb Ulcers
- Home Care Settings
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Integra Life Sciences Corporation, Organogenesis, Inc., and MiMedex to Lead Market
Geographically, the global Active Wound Care Market is witnessing immense growth opportunities in North America. This is because of the increasing prevalence of diabetic population and wound cases in the region, resulting from road accidents. The presence of sophisticated healthcare services in the region is also aiding the growth of the market. On the other side, the wound dressing market in the Asia Pacific is anticipated to show a significant rise in future owing to the considerable growth of the healthcare sector in the emerging nations of India, and China. Rise in population and increasing healthcare awareness in these nations will drive the market in the Asia Pacific, making it the fastest growing region during the forecast period.
Among leading players operating in the market, Integra Life Sciences Corporation, Organogenesis, Inc., and MiMedex, are expected to be on the top. Other players in the market are Tissue Regenix, Cytori Therapeutics Inc., Coloplast Corporation, MTF Biologics, Smith & Nephew, Acell Inc., Osiris Therapeutics, Inc., Osiris Therapeutics, Inc., Baxter, Wright Medical Group N.V., and Solsys Medical.
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