Active wound care consists of skin substitutes and growth factor products, which are the highly potent segments of Advanced Wound Care and Closure Market that would foster the market growth in the near future. Negative Pressure Wound Therapy (NPWT) has emerged as a highly effective therapy for advanced wound management. NPWT promotes wound healing through the application of negative pressure on the wound via foam dressings. Strong growth is anticipated in NPWT segment during the forecast period and would reach $3.7 billion by 2020.
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Top Key Players :
Key advanced wound care and closure manufacturers such as Smith and Nephew, Kinetic Concepts, 3M, BSN medical, Covidien, ConvaTech, Derma Sciences, Integra LifeSciences, Baxter International, Coloplast have adopted merger and acquisition and product launch as key developmental strategies in order to implement existing technologies with new products and capitalize unexplored markets.
Chronic wounds are hard to heal, which take substantial time to heal and are expensive to treat. Advanced wound care and closure products are increasingly gaining popularity as standard solutions for treating chronic wounds. Traditional products are being increasingly substituted with advanced products, mainly due to their effectiveness in managing wounds by promoting faster healing.
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Lifestyle diseases are the cause of chronic wounds such as diabetic foot ulcer, venous leg ulcer, pressure ulcer etc. Products that treat these ulcers are gaining prominence; therefore, the major application of these products is in treating different kinds of ulcers. The advanced wound care and closure market for ulcer treatment is expected to grow over $7.8 billion by 2020 with diabetic foot ulcer management segment being prominent among all other segments.
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