The human body is highly adaptable and has a remarkable capability to heal itself. However, more often than not, wound healing can halt and may create chronic non-healing wounds owing to an array of reasons such as bacterial contamination, ischemia, and chronic inflammation. On top of it, diabetes, patient's age, and obesity add to the risk factor of developing common non-healing wounds such as venous leg ulcers (VLU), pressure ulcers (PU), and diabetic foot ulcers (DFU). Various innovations are happening across a broad spectrum of wound care technologies such as debridement, pressure management, extracellular matrix, therapeutic devices, and more to cure such wounds.
According to a Reports and Data report, the advanced wound care market is forecasted to grow from $10.34 Bn in 2018 to $14.89 Bn by 2026. The demand for advanced wound care is accentuated by an inclination towards shorter hospital stays, enhanced therapeutic outcomes, and reduced surgical healthcare costs. Market growth is also supplemented by the risk associated with ineffective wound healing, which has resulted in increasing the demand for combination dressings. Further contributing to the cause are factors such as the surge in prevalence of chronic wounds, rise in aging population, advancements in technology, and an increase in the number of surgeries. However, unwillingness in the adoption of new technologies and hostile reimbursement policies hinder the market growth. Nevertheless, advancements in optimized physical therapies and moist dressing are set to provide lucrative opportunities for emerging market players.
Negative Pressure Wound Therapy (NPWT) that promotes wound healing through the application of negative pressure on the wound via foam dressings too has emerged as a highly effective therapy for advanced wound management. Negative pressure wound therapy market is witnessing substantial technological advancements pertaining to dressings as well as therapy pumps. The key players in the industry are focusing on undertaking new product development strategies, mergers, and acquisitions.
In the coming years, the market will see a rise in kits and devices to streamline and lower the difficulty of wound care, better diagnosis for early detection of pathological bacterial infection, as well as, better-connected devices to improve the overall patient monitoring and care effectiveness. With the growing market, many solution providers are coming up with their innovative solutions for the treatment of chronic wounds. On the other hand, with a myriad of solutions available in the market, it is difficult for healthcare organizations to select the right solution.
Hence, to assist them in choosing the right solution, the editorial board at MedTech Outlook has selected a handful of most promising wound care solutions providers after evaluating their technical prowess. We have considered the vendor's ability in delivering solutions, keeping in mind the factors like the expertise in the domain, skills, and competencies. This edition sheds light on the most promising solution providers that are accelerating at a fast pace with their solutions in the wound care industry.
We present to you MedTech Outlook's "Top 10 Wound Care Solution Providers – 2019."