Wound product market seen as growing fast
Wound care dressings and related technologies are quickly evolving, and the demand for them will continue to grow at an annual rate of more than 7%, according to a recent study. Highlights of the study, "Markets for Advanced Wound Care Technology," are in the Oct. 31 issue of the Biomedical Market Newsletter, which says the changes are due to the aging of the patient population and regulatory and cost issues geared to reduce the length of hospital stays. As a result, the demand for technologies suited to home care and long-term care settings will grow significantly.
The use of advanced dressings is dramatically reducing the number of visits by home care nurses, the report says. They also help accelerate healing rates, lower infection rates, and improve patient comfort.
The market value for wound dressings and related technologies was $621.9 million in 1995 and is projected to be about $900 million by the year 2000, the study says. If that forecast proves accurate, it would mean an average annual growth rate for the industry of about 7.7%. Driving the market will be synthetic wound dressings, such as alginate composites, hydrocolloids, hydrogel-impregnated gauze, and specialty absorptive transparent films. Markets for topical adjuvants; wound cleansers; skin sealants, protectants and moisturizers; and enzymatic debriding agents also will grow.
The report also says markets for "novel" products such as autologous epidermal grafts, hyperbaric oxygen, and electrical stimulation devices should grow significantly, as will sales of biological and biosynthetic dressings containing collagen or related hydrosylates.
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