Advanced Wound Therapy Devices Market Research Report – Global Forecast till 2027

Advanced Wound Therapy Devices Market Research Report: by Type (Negative Pressure Wound Therapy Systems, Electric Stimulation Devices, Hyperbaric Oxygen Equipment, Pressure Relief Devices, Others), by End-user (Hospitals & Clinics, Home Care Settings, Others), and Region - Forecast till 2027

ID: MRFR/HC/5952-CR | February 2019 | Region: Global | 98 pages

Advanced Wound Therapy Devices Market Speak to Analyst Request a Free Sample

Advanced Wound Therapy Devices Market Overview


The advanced wound therapy devices market is expected to touch a valuation of USD 2,804.53 million by 2023. This can be attributed to high prevalence of diabetes and chronic wounds, growing aging populace, and innovations in devices. The market is predicted to exhibit 6.70% CAGR over the forecast period (2018-2023).


Advanced wound care is an emerging sector which provides devices and solutions to manage acute and chronic wounds. Advanced wound therapy devices can treat wounds culminated from diabetes, pressure ulcers, venous disease, and others.


The growing geriatric populace which is susceptible to diabetes and peripheral vascular disease can open up opportunities for the market. This can be attributed to aged skin slowing down healing rates. In addition, development of advanced devices which can expedite the healing process in chronic wounds is likely to bolster demand in the advanced wound therapy devices market. But high costs of these devices can threaten its growth.


Segmentation Overview


The advanced wound therapy devices market is segmented by type and end-user. Types of therapy devices include electric stimulation devices, hyperbaric oxygen equipment, pressure relief devices, negative pressure wound therapy systems, and others. ‘Others’ include ozone-oxygen therapy, electromagnetic therapy, and intermittent pneuamtic compression. End-users outlined in the advanced wound therapy devices market report include home care settings, hospitals & clinics, and others. 


Regional Overview


Based on regions, the advanced wound therapy devices market is segmented into the Americas, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA). The Americas can dominate the global market owing to various advanced wound treatment options. According to the Intermountain Healthcare article in 2017, nearly 6.5 million people in the U.S. have chronic wounds. On the other hand, the APAC region is expected to display a robust CAGR over the forecast period thanks to awareness of negative pressure wound therapy among patients.


Competitive Landscape


Key players in the advanced wound therapy devices market report include Smith & Nephew plc (U.K.), Mölnlycke Health Care AB (Sweden), B. Braun Melsungen AG (Germany), ConvaTec Inc. (U.K.), Cardinal Health (U.S.), KCI Licensing, Inc. (U.S.), Lohmann & Rauscher GmbH & Co. KG (Germany), DeRoyal Industries, Inc. (U.S.), Medela AG (Switzerland), Perry Baromedical (U.S.), Triage Meditech Pvt. Ltd. (India), and Sechrist (U.S.).


Research Methodology


By employing meticulous strategies, competent data analysts of Market Research Future collect information and study them extensively before predicting the future market size with a detailed listing of the relevant market segments. Interviews with prime decision makers of various trendsetting companies of the apposite market give the primary research much prominence. The secondary method includes a minute analysis of the present and the past trends to have a better grasp of the upcoming market scenario. To increase the precision of the obtained data, top-down & bottom-up approaches have been integrated into the system which gives a walk-through of the demand and supply equation. Furthermore, by adhering to credible resources such as annual reports, SEC filings, and white papers, our data analysts empower themselves with subtle comprehension of the germane product before proceeding to discuss market factors. The intent is to provide a holistic view of the sector by judging it against irreproachable parameters and enriching it with significant inputs.


Analysis Period



  • Base Year - 2017

  • Projection Period - 2018 to 2023

  • Market Valuation - USD Million


For the scope of the report, the advanced wound therapy devices market is segmented in the following manner


Type



  • Negative Pressure Wound Therapy Systems

  • Electric Stimulation Devices

  • Hyperbaric Oxygen Equipment

  • Pressure Relief Devices

  • Others


End-user



  • Hospitals & Clinics

  • Home Care Settings

  • Others


Region



  • Americas


    • North America


      • The U.S.

      • Canada


    • South America


  •  Europe


    • Western Europe


      • The U.K.

      • Italy

      • Spain

      • France

      • Germany

      • Rest of Western Europe


    • Eastern Europe


  •  Asia Pacific (APAC)


    • China

    • Japan

    • India

    • Australia

    • Republic of Korea

    • Rest of Asia Pacific


  •  The Middle East & Africa (MEA)


    • The Middle East

    • Africa




Speak to Analyst Ask for Customization

Frequently Asked Questions (FAQ) :

The global advanced wound therapy devices market is expected to reach a valuation of more than USD 2.8 billion by 2023.

The global advanced wound therapy devices market is expected to exhibit a solid 6.7% CAGR over the forecast period from 2020 to 2027.

The increasing prevalence of diabetes and other diseases that cause chronic wounds is likely to be a major driver for the advanced wound therapy devices market.

Lack of awareness and high prices of the devices are the major restraints on the advanced wound therapy devices market.

Negative pressure wound therapy systems dominate the global advanced wound therapy devices market, accounting for more than 42% of the market in 2017.

1.1          Company Market Share Analysis


1.1.1      Introduction


Numerous players are operating in the global advanced wound therapy devices market. Some of the big players have captured a significant share in the global market, taking advantage of their strong positions and presence in the global market. In the global advanced wound therapy devices market, major companies are opting for new product launches, strategic partnerships, and collaborations to strengthen their market position.


FIGURE 1              GLOBAL ADVANCED WOUND THERAPY DEVICES MARKET, MARKET SHARE ANALYSIS 2017 (% SHARE)


ADVANCED WOUND THERAPY DEVICES MARKET


Source: Annual Report, Company Website, Press Releases, and MRFR Analysis


The top players in the global advanced wound therapy devices market are Smith and Nephew, Acelity L.P., ConvaTec Group, Mölnlycke, and others.


Acelity L.P. accounted for a share of 36.1% of the global advanced wound therapy devices market in 2017. It is a leader in the global advanced wound therapy devices market and operates as Kinetic Concepts, Inc. in the advanced wound therapeutics business. The company operates in business segments including wound management, open abdomen management, incision management, epidermal harvesting, and animal health. The company has a presence in more than 90 countries. The company emphasizes on providing quality, safety, and better customer experience. The company is also expanding its portfolio by introducing new products to the market. For instance, in December 2018, the company introduced the V.A.C.RX4 System in the market. The V.A.C.RX4 System is a negative pressure wound therapy used for traumatic wounds.


Mölnlycke Health Care AB accounted for the second-largest market share of 13.9% in 2017. It operates in wound management, pressure ulcer prevention, and surgical solutions business segments. Moreover, the company has a strong presence all over the world, and it markets its products in more than 63 countries. Mölnlycke has a strong distribution network in all major markets. Strategic partnerships, collaborations, and mergers and acquisitions play an important role in the development of the company.


Smith & Nephew operates in ear, nose and throat, endoscopy, orthopedic reconstruction, trauma, and wound management. The company accounted for 10.3 % of the total market share in 2017. The company focuses on maintaining the integrity and ethical conduct and is a trusted brand across the world. The company operates in more than 100 countries and has a strong brand name in the medical devices industry. Moreover, the company focuses on acquiring market players to expand its portfolio and to gain the maximum market share. For instance, in October 2017, the company acquired Rotation Medical Inc. for USD 250 million. This acquisition would help the company to enter into the shoulder replacement segment.


ConvaTec Group holds a 6.1% market share in the global advanced wound therapy devices market. The company is a major player in the medical technology market and operates in areas such as advanced wound care, ostomy care, continence and critical care (CCC), and infusion devices. The company gives prominence to provide wound care therapies for chronic wounds. The company has a strong presence in Europe and Asia-Pacific.


Some other major players operating in the global advanced wound therapy devices market are B. Braun Melsungen AG, Cardinal Health, Lohmann & Rauscher GmbH & Co. KG, DeRoyal Industries, Inc., Medela AG, Perry Baromedical, and Triage Meditech Pvt. Ltd, and others.