In Wound Care Market, Growth is Not Surprising

In Wound Care Market, Growth is Not Surprising

Wound care is an area of medical devices that sees better-than-market revenue growth, because innovation is demanded by customers, rather than forced upon customers by marketers.  Healthcare providers can realize cost reductsions from reduce hospital stays, and wound care is always a part of that process.   The graph here, based on Kalorama information's market analysis over the years, demonstrates the clear trend of growth in most categories.  Some variance between categories.  But overall, an increase in all.  At the recent Society for Advanced Wound Care (SWACS) in Las Vegas, Kalorama analysts attended. Our wound care specialist Mary Ann Crandall was there for important vendor consults.   Our report on Global Wound Care Markets has detailed information on the varied device categories in wound treatment.   We will also publish a new report at the end of the year.  

SWAC featured all the usual large companies, and new names Acelity which is a combo of KCI and LifeCell, Metronic, which is a combo of Covidien and Kendall. Other large or growing companies include Mimedx, Lohmann & Rausch, and ConvaTec. Smith & Nephew continued to dominate many areas of wound care. Cardinal Health displayed renewed participation in this market with new products and a renewed push into wound care. 

One notable trend: many more companies have entered the Skin Substitute and Regenerative products market making the segment more innovative and competitive. Participation in the segment has increased approximately 30% There is large interest in portable cell harvesting and dermal matrices as well. There also was more interest in novel and new paradigms in wound care such as looking to laser, thermography, and ultrasound.

The wound care industry is an incredibly diverse and highly competitive arena that is ever-changing. Kalorama Information feels that the market will continue to expand over the long term due to an aging population, longer life expectancy, and an increasing number of sicker patients across all care settings. In the short term, there will be more ebb and flow in the industry due to changes in reimbursement, contract bidding, mergers and acquisitions, and changes in the delivery of health care.

Patients have more complex coexisting illnesses such as diabetes, heart failure, obesity, pulmonary and vascular diseases, immobility issues and chronic wounds. These factors are all influenced by future demographic trends, economic uncertainty, the impact of health care reform, increasing numbers of uninsured patients, reimbursement pressures from third party payers, continuing shortage of nurses and physicians and increasing technology and supply costs.