The wound care management market was valued at USD 33.9 billion in 2017, and is expected to expand to USD 45.5bn by 2024, with a stable Compound Annual Growth Rate (CAGR) of 4.3 percent, according to GlobalData, a leading data and analytics company.
Advanced treatments such as biosurgery products and robotic devices for wound closure, tissue engineered skin substitutes, and state-of-the-art wound measurement devices are playing an increasing role in wound healing. Three of the most dynamic markets in the wound care management space are advanced wound closure; negative pressure wound therapy (NPWT), and cellular or tissue-based products.
While the incidence of burns and trauma wounds is decreasing in some markets, the need for fast-acting wound closure products that prevent excessive blood loss and scarring will remain. Combing mechanical methods, including laparoscopic staplers and robotic-assist wound closure devices, with biosurgery products including fibrin-based sealants and combination hemostats, effectively prevents fatal hemorrhaging in the operating room.
Tina Deng, Healthcare Analyst at GlobalData, comments: “Novel inventions and augmentations to existing technology platforms continue to drive the expansion and effectiveness of wound closure products. For example, fibrin sealants have proven to be promising vectors for drug delivery and other bioactive agents such as growth factors to specific target sites in the body.”
The NPWT market expanded quickly in 2017, driven primarily by increasing awareness of the technique and its various applications. Disposable, or single-use, NPWT devices are an emerging technology in this space that is expected to see rapid adoption in all countries where they are launched due to their drastically reduced costs and expanding indications including surgical incisions.
Competition in the market has become intense as more players, such as Medela, Nexa Medical, Stortford Medical, and Genadyne Biotechnologies, have received new device approvals. Market leaders like Acelity and Smith & Nephew remain innovative by upgrading their existing platforms, the V.A.C.ULTA NPWT system and the PICO single use NPWT system, respectively.
Novel therapies, such as products seeded with live cells and wound grafts sourced from amniotic tissue, will gain prominence as clinical evidence becomes more abundant. Cellular products, such as Grafix from Osiris Therapeutics, provide the benefits of fresh placental membrane and reduce inflammation and scarring by supporting wound closure without excessive fibrosis. More acellular products are available in the market, including NEOX/CLARIX from Amniox Medical, EpiFix from MiMedx Group, and Biovance from Alliqua Biomedical.
Deng adds: “These acellular products don’t contain active or living cells, but may contain and stimulate growth factors, cytokines, and matrix proteins, providing mechanical substrate for tissue growth. Despite growing demand, these products face market entry hurdles such as high costs and regulatory setbacks.” – Global Data