NEW YORK, Aug. 5, 2014 /PRNewswire/ -- According to Kalorama Information, the worldwide wound care market reached revenues of $18,851.0 million in 2013. The healthcare market research publisher says that represents growth of 6% from the previous year. Revenues were based on sales at the manufacturers' level. The finding was made in Kalorama Information's report, Advanced Wound Care Markets Worldwide.
Kalorama says the market is varied in terms of both product offerings and product maturity. Several of the products within the worldwide wound care market are mature such as anti-infectives and pressure relief devices, while others such as biological dressings and negative pressure wound therapy are in the infant stages of development. Thus, some products within the market are slowing in growth rates while others are driving growth.
According to report analyst Mary Anne Crandall, "The emerging generation of wound care products and technologies is well-positioned to capitalize on growth. Besides the always-improving synthetic dressing materials, newer technologies in wound treatment include the xenogeneic tissue scaffold, bilayered human dermal substitutes, recombinant growth factors, endoscopic subfascial ligation of venous perforators, and endovascular arterial repair techniques. New wound care products and devices are entering the market with lightning speed."
The wound care industry is an incredibly diverse and highly competitive arena that is ever-changing. Kalorama Information feels that the market will continue to expand over the long term due to an aging population, longer life expectancies, and an increasing number of sicklier patients across all care settings. In the short term, there will be more ebb and flow in the industry due to changes in reimbursement, contract bidding, mergers and acquisitions, and changes in the delivery of health care. Patients have more complex coexisting illnesses such as diabetes, heart failure, obesity, pulmonary and vascular diseases, immobility issues and chronic wounds. These factors are all influenced by future demographic trends, economic uncertainty, the impact of health care reform, increasing numbers of uninsured patients, reimbursement pressures from third party payers, continuing shortage of nurses and physicians and increasing technology and supply costs.
The top wound care companies worldwide include Johnson & Johnson, KCI, Covidien, Hill-Rom and Smith & Nephew. These companies are responsible for more than 50% of the revenues for the total market. Other key players in the market include 3M, MoInlycke, B. Braun/Aesculap, ConvaTec, Baxter International, and Hartmann.
Kalorama Information's report, Advanced Wound Care Markets Worldwide, provides more information including breakouts for various treatment segments of the wound care market, and discussions of trends in the industry. Profiles of key competitors are also included.
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SOURCE Kalorama Information