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Wound Care Devices Market Size, Share and Industry Analysis By Product Type (Negative Pressure Wound Therapy (NPWT), Hyperbaric Oxygen Therapy (HBOT), Extracorporeal Shock Wave Therapy (ESWT)), Indication (Diabetic Foot Ulcers, Pressure Ulcers, Surgical Wounds), End Users (Hospitals, Clinics, Home Care Settings) and Regional Forecast, 2018 - 2025

Region : Global | Published Date: Oct, 2019 | Report ID: FBI100388| Status : Published

 

KEY INDUSTRY INSIGHTS

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The global wound care devices market size was valued at USD 1,994.8 Million in 2017 and is Projected to be Valued at USD 2,949.2 Million by 2025, Exhibiting a CAGR of 5.1% From 2018-2025.


The increasing number of clinical trials establishing the clinical efficiency of wound care devices and therapies for the treatment of chronic wounds, combined with constant innovations by market players in the wound care devices segment are factors propelling the growth of the global wound care devices market.


Market players are introducing new devices such as single-use negative pressure wound therapy and portable wound care devices aiming to reduce the overall cost of wound care management. The increasing focus of market players to offer innovative devices, along with various financing options including rental schemes for wound care devices, is anticipated to lead to increasing demand and adoption of wound care devices in the global market by 2025. 


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"The introduction of single-use and portable wound care devices is attracting demand for these devices in wound care among emerging countries."


The rising adoption of negative pressure wound therapy and introduction of new therapies including extracorporeal shock wave therapy for wound care is attracting demand for wound care devices from healthcare providers. Distinct advantages of wound care devices in exudate management, reduced healing time of the wound, and comparatively lower cost of care for wound management are factors anticipated to lead to increasing adoption of new wound care devices.


These factors are further expected to drive the growth of the global wound care devices from 2018-2025. Clinical benefits of hyperbaric oxygen therapy in treatment of hard-to-heal and necrotizing tissue wounds, are propelling the growth of the segment in the global wound care devices market in 2017. The segment accounted for 7.0% share of the global market in 2017. 


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On the basis of indication, the global wound care devices market is segmented into diabetic foot ulcers, pressure ulcers, surgical wounds, and others. There is a comparatively higher percentage of diabetic foot ulcer patient population suffering from hard-to-heal wounds globally. This along with the rising adoption of wound care devices for wound management in developed and emerging countries are factors responsible for a comparatively higher share of the diabetic foot ulcers segment in 2017. On the basis of end user, the global wound care devices market is segmented into hospitals, clinics, home care settings, and others. Market players offering portable wound care devices, along with rental schemes, is driving the adoption of these devices in-home care settings.


Regional Analysis


"Demand for Innovative Wound Management Products in the U.S., Combined with Adequate Reimbursement Policies in the Country, is Driving the Growth of the Market in North America."


Unmet needs pertaining to wound care are prevalent among patient population in the U.S. The clinical benefits of wound care devices over wound dressings, and lower cost of treatment as compared to active wound care therapies are driving the adoption of these devices in the U.S. This along with adequate reimbursement policies for wound care devices in the country, are some of the major factors attributed to higher share wound care devices in North America region in 2017.


North America Wound Care Devices Market, 2017

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Also, the introduction of new devices, increasing number of regulatory approvals in the U.S., and gradual shift towards rental schemes for wound care devices, are factors projected to drive the grwoth of the wound care devices market in North America during 2018-2025. The region generated revenue of USD 796.4 Mn in 2017 and is expected to remain dominant throughout the forecast period.


Key Market Drivers


"Presence of a Diverse Portfolio and Strong Brand Presence in the Global Wound Care Market Are Factors Attributed to the Dominance of Smith & Nephew, DeRoyal Industries, Inc., and KCI Licensing, Inc., in the Global Market in 2017."


The current global wound care devices market is consolidated owing to the strong and widespread distribution network of major companies in developed countries. Currently, Smith & Nephew, DeRoyal Industries, Inc., and KCI Licensing Inc. lead the market, accounting for maximum share in 2017. Regional and domestic players entering the global wound care devices market is projected to lead to fragmentation of the market by 2025. Other players operating in the global wound care devices market are Talley Group Ltd, Cardinal Health, Devon Medical Products, BSN Medical, and Medela AG, among others.


 Key companies covered in the report



  • Smith & Nephew

  • KCI Licensing, Inc.

  • Talley Group Ltd

  • Cardinal Health

  • ConvaTec, Inc.

  • DeRoyal Industries, Inc.

  • Devon Medical Products

  • BSN medical

  • Medela AG

  • Other Prominent Players


Report Overview 


An increasing number of new approvals for products such as extracorporeal shock wave therapy devices, single-use negative pressure wound therapy devices, and portable devices for home care settings are driving the adoption of wound care devices in the global market. This, combined with improving reimbursement policies in emerging countries for wound care devices, is projected to further augment the demand and growth of the market during 2019-2026.


The report provides qualitative and quantitative insights on wound care devices industry and detailed analysis of market size & growth rate for all possible segments in the market. The market is segmented as per product type, indication, and end user. On the basis of product type, the global wound care devices market is further segmented into negative pressure wound therapy, hyperbaric oxygen therapy, extracorporeal shock wave therapy, and others. On the basis of indication, the global wound care devices market is segmented into diabetic foot ulcers, pressure ulcers, surgical wounds, and others. On the basis of end user, the global wound care devices market is segmented into hospitals, clinics, home care settings, and others. Geographically, the market is segmented into five major regions, which are North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The regions are further categorized into countries.


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Along with this, the report provides an elaborative analysis of market dynamics and competitive landscape. Additionally, the report offers insights on the prevalence of key disease indications (diabetic foot ulcers, pressure ulcers, surgical wounds etc.) for key countries/region, pricing analysis of key players, reimbursement scenario, and economic cost burden for treatment of chronic wounds by key countries/ region.


SEGMENTATION


























 ATTRIBUTE



 DETAILS



By Product



· Negative Pressure Wound Therapy (NPWT)


· Hyperbaric Oxygen Therapy (HBOT)


· Extracorporeal Shock Wave Therapy (ESWT)


· Others (Compression Therapy, etc.)



By Indication



· Diabetic Foot Ulcers


· Pressure Ulcers


· Surgical Wounds


· Others



By End User



· Hospitals


· Clinics


· Home Care Settings


· Others



By Geography



· North America (USA and Canada)


· Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)


· Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)


· Latin America (Brazil, Mexico and Rest of Latin America)


· Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)



 


Key Industry Developments:



  • In October 2018, Smith & Nephew announced the launch of PICO 7Y, the world’s first portable single-use negative pressure wound therapy device in the global market. The distinct benefit offered by PICO 7Y is that it can treat two wounds simultaneously.

  • In January 2019, Applied Tissue Technologies LLC, announced the US-FDA approval for its Platform Wound Dressing (PWD), a negative pressure wound therapy device which eliminates the use of foam or gauze dressings.


Frequently Asked Questions

Fortune Business Insights says that the Wound Care Devices Market was valued at US$ 1.9 Bn in 2018 and is projected to reach US$ 2.9 Bn by 2026.

In 2018, the Wound Care Devices Market was valued at US$ 1.9 Bn.

Growing at a CAGR of 5.1%, the wound care devices market will exhibit a steady growth in the forecast period (2019-2026)

Negative Pressure Wound Therapy (NPWT) segment is expected to be the leading segment in wound care devices market during the forecast period.

Increasing number of clinical trials establishing the clinical efficiency of wound care devices and therapies for the treatment of chronic wounds, combined with constant innovations by market players in the wound care devices are some of the factors anticipated to drive the growth of the wound care devices market.

Smith & Nephew, DeRoyal Industries, Inc., and KCI Licensing, Inc., are the top players in wound care devices market.

North America is expected to hold the highest market share in the wound care devices market.

Market players are constantly focusing introduction of single-use and portable wound care devices to facilitate the usage, and increase patient preference towards these devices.

Wound Care Devices Market Size, Share and Global Industry Trend Forecast till 2026
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