TORONTO--()--According to Millennium Research Group (MRG), the global authority on medical technology market intelligence, the growing population suffering from obesity, diabetes and hypertension will lead to increased incidence of both acute and chronic wounds, and thus favor adoption of wound care biomaterials in the United States. To some extent, the advanced wound dressing and negative pressure wound therapy (NPWT) segments will compete, with NPWT systems taking some share from advanced wound dressings. However, both segments will see expansion. As a result, the US wound care biomaterial market will increase to a value of nearly $2.8 billion by 2016.
“Innovation in the NPWT system market has been focused on developing small, portable, single-use systems for home care”
In addition to demographic factors, the market for wound care biomaterials will be supported by wound care clinician demand. Advanced wound dressings offer patients greater comfort and conformability than traditional wound fixation, and are better at managing wound exudate, resulting in faster healing. NPWT systems, which use a vacuum to exert negative pressure on the wound, can be conducive to home treatment, and minimize the number of required dressing changes by further accelerating the healing process.
In the advanced wound dressings segment, hydrofiber dressings are the fastest-growing product category. These products can handle varying levels of wound exudate and require fewer dressing changes. ConvaTec has a patent on this technology, and has thus been able to command a premium price, fueling revenue growth in the overall advanced wound dressing market.
“Innovation in the NPWT system market has been focused on developing small, portable, single-use systems for home care,” said MRG Analyst Daniel Brown. “As they become more common and easier to use, and both surgeons and patients become used to them, they have the potential for significant growth; however, these smaller, disposable systems carry lower prices than traditional NPWT systems, which will limit revenue growth. Nevertheless, this segment will grow at an annual rate of around six percent through 2016.”
The US advanced wound dressing segment has low barriers to entry and has a large number of competitors. 3M Health Care and Mölnlycke Health Care have the largest market shares. The NPWT system segment is dominated by KCI, which was first to market a product. As the popularity of rental NPWT systems declines and disposable devices are more widely used, new competitors will emerge.
Millennium Research Group’s US Markets for Wound Care Biomaterials 2012 report includes unit, average selling price and revenue information, along with market drivers and limiters and competitive landscape for advanced wound dressings and negative-pressure wound therapy (NPWT) systems sold in the United States.
About Millennium Research Group
Millennium Research Group (www.MRG.net), a Decision Resources Group company (www.DecisionResourcesGroup.com), is the global authority on medical technology market intelligence and the leading provider of strategic information to the healthcare sector. The company provides specialized industry expertise through multiclient market research, ongoing Marketrack™ projects, customer loyalty tracking, facility-level procedure forecasting, and customized solutions.
About Decision Resources Group
Decision Resources Group is a cohesive portfolio of companies that offers best-in-class, high-value information, and insights on important sectors of the healthcare industry. Clients rely on this analysis and data to make informed decisions. Please visit Decision Resources Group at www.DecisionResourcesGroup.com.
All company, brand or product names contained in this document may be trademarks or registered trademarks of their respective holders.