Market Trends of Active Wound Care Industry
The Biomaterials Segment is Expected to Witness Significant Growth Over the Forecast Period
A biomaterial is a synthetic or natural substance that can either be inserted into the body as part of an implanted medical device or can be used to treat, augment, or replace tissue. The cell proliferative effects and biocompatibility of biomaterials are the major advantages owing to which their use is expected to rise over the forecast period.
The factors driving the growth of the biomaterials segment include several advantages associated with biomaterials and the rising number of product development by prominent players. Biomaterials such as hydrogels, forms, and alginate dressings create and maintain a moist wound environment. This environment is conducive to healing as it promotes cell migration, facilitates oxygen and nutrient exchange, and supports the formation of granulation tissue. Biomaterials such as collagen dressings are becoming more popular due to their effectiveness and ease of use. Companies are producing new products in biomaterial-based dressings, which is fueling the segment's growth. For instance, in June 2022, a new fibrillar collagen wound dressing was approved by the 510(k) regulatory agency for the US-based regenerative medicine company Collagen Matrix Inc. The Collagen Matrix Fibrillar Collagen Wound Dressing is an absorbent microfibrillar matrix used to manage minor bleeding and heal wounds that moderately to significantly discharge fluids. Similarly, in May 2022, Winner Medical Co. Ltd launched its latest advanced surgical wound care products, the Bordered Silicone Foam Dressing, Transparent Film Dressing, and Carboxymethylcellulose (CMC) Dressing, in Europe.
Moreover, several players are moving toward developing new advanced wound care dressings to manage chronic wounds. For instance, in June 2022, Smith & Nephew announced its newest R&D and manufacturing site in the United Kingdom to improve wound management. The investment for this wound management facility was USD 100 million. With such a massive investment in wound care, the biomaterials segment is expected to witness healthy growth during the forecast period.
Therefore, owing to the various advantages of biomaterials in managing acute and chronic wounds and the launch of new products in the market, the segment is expected to witness significant growth during the forecast period.
North America is Expected to Register Significant Growth in the Market Over the Forecast Period
North America held the largest share in the active wound care market over the forecast period owing to factors such as increasing cases of chronic and acute wounds, advanced treatment options, and the rising number of surgeries in the region.
The increasing number of chronic and acute wounds in the United States is one of the major drivers for the market. For instance, as per the 2022 report published by the International Diabetic Federation (IDF), more than 51.0 million people had diabetes in North America in 2021, and by 2045, this is expected to rise to 63.0 million. Diabetic foot ulcers are one of the most common complications for diabetic patients. Thus, such a high population of diabetic patients in the United States is expected to propel the demand for active wound care products in the country. Additionally, as per the Mission Regional Medical Center's 2022 update, it is estimated that 6.7 million people are currently living with chronic wounds in the country. This number is expected to grow by more than 2.0% in the next decade. Active wound care aims to prevent amputations and heal patients more quickly and affordably. Hence, considering its advantages, the adoption rate of active wound care is expected to rise in the United States during the forecast period.
Furthermore, various wound care associations in Canada collaborate to provide world-class treatment for pressure ulcers, specifically hospital-acquired pressure ulcers. As per the report published by the Canadian Patient Safety Institute in 2021, the net hospitalization cost for hospital-acquired pressure ulcers in the country is approximately CAD 44,000 (USD 33,343) to CAD 90,000 (USD 75,023). This suggests that there is a growing concern about pressure ulcers across Canada, and wound-related associations are working to address it. This is expected to fuel the demand for active wound care products for treatments, thereby propelling market growth.
Moreover, the rising number of product launches in the country is anticipated to increase the availability of active wound care products as well as their adoption among patients, which is expected to boost market growth over the forecast period. For instance, in May 2023, Bioventus Inc. signed a definitive agreement to sell its wound business, including the skin substitutes TheraSkin and TheraGenesis, to LifeNet Health. Bioventus and LifeNet Health have also signed a sales agent agreement under which LifeNet Health will have exclusive rights to sell SonicOne ultrasonic wound debridement products in the United States and Canada. Similarly, in September 2022, Arch Therapeutics Inc., a marketer and developer of novel self-assembling wound care and biosurgical products, announced the first shipments of the AC5 Advanced Wound System (AC5) under the company's new reimbursement support program. This development represents a significant milestone in the company's overall commercialization efforts, which will support the accelerated growth and utilization of AC5 in doctor's offices and wound care clinics.
Therefore, the rising number of acute and chronic wounds, collaborations, and product launches in the region are expected to drive market growth over the forecast period.
