The Europe advanced wound care market is mainly driven by technological advances, rising geriatric population, problems associated with ineffective traditional wound healing methods, initiatives taken by the government, and a pressing need for swift and safer treatment of chronic wounds.
According to Diabetes UK, people suffering from Diabetes were around 3.8 million in the year 2018. The increasing incidences of diabetes may further lead to growth in this market. The growing prevalence of several lifestyle disorders leading to chronic wounds, such as diabetic foot ulcer, venous leg ulcer, and pressure ulcer, is one of the key factors estimated to encourage the growth of the advanced wound care market in the coming years.
The statistics from Public Health England (PHE) revealed that there were 27,465 amputations between 2015 and 2018, compared with 24,181 cases between 2012 and 2015 a rise of 14 per cent. Furthermore, attempts to lower the duration of hospital stay, in order to reduce the surgical healthcare expenses, and the growing inclination toward products that enhance therapeutic outcomes are also driving the demand in the advanced wound care market.
However, the high cost associated with the treatment and reimbursement issues for the new technologies remain major factors hindering the market.
Key Market Trends
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Under Wound Dressings, Foam Dressings Projected to Have Significant Growth
– Foam dressings are a type of extremely absorbent dressing used for wound care. Foam dressings are used for heavily exuding wounds, like weeping ulcers, deep cavity wounds, and wounds caused after debridement.
– These dressings can be used for a longer duration of time, as they have lower replacement rates when compared to other types of dressings. These are generally made from semi-permeable polyurethane.
– They allow water vapor to enter but keep out contaminants and bacteria. In some cases, the outer layer of these dressings may be waterproof, depending upon the need.
– The launch of new products and advancements in product technologies are projected to fuel market growth. In April 2017, ConvaTec has launched Foam Lite ConvaTec dressing, a light, flexible silicone foam dressing for managing low to non-exuding chronic and acute wounds.
– Moreover, the ability of these dressings to be used as primary or secondary dressings during accidents or other severe cases is also expected to increase their adoption.
Competitive Landscape
The advanced wound care market is significantly fragmented, with the presence of a large number of players. As technology progresses and becomes more viable, the quality of life of patients afflicted with chronic wounds improves. Traditional wound care and closure products are being increasingly substituted with advanced wound care and closure products, due to their efficacy and effectiveness in managing wounds by enabling faster healing. Market players are focusing on various growth strategies, in order to enhance the market presence by mergers, acquisitions, partnerships, collaborations, new product launches, etc.
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