Wound Care Devices: Growth Amid Uncertainty
Over the last 15 years, a trend toward evidence-based medicine has led to a greater understanding of the science behind wound healing. This knowledge has fueled an explosion of innovation in technology and in the commercialization of a wide range of new products, generating a worldwide market estimated at $4.5 billion annually, with double-digit growth projected over the next three to five years.
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The advanced wound care market is attracting an increasing number of competitors and investors seeking a stake in this high-need, high-growth space. But although the number of innovative wound care products is on the rise, this is also a highly diverse market, with some striking differences among various regions of the world in terms of product adoption and standard wound care practices.
When the healing process for chronic wounds like diabetic foot ulcers stalls, something must be done to prevent infection and amputation. Out of Denmark, Reapplix APS has a bedside device for creating a three-layered biological patch out of a patient's own blood, without additives, and within 20 minutes.
With estimated revenues in excess of $5 billion per year worldwide, the advanced wound care market has garnered the attention of both major companies and investors for its tremendous potential. Growth in this market is being driven by the development of new bioactive products that can successfully heal chronic wounds such as diabetic foot ulcers, which are among the most challenging and costly to treat.