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Global Wound Care Product Market (2014-2022)
December, 2017
Sample pages
Chapter 1: Executive Summary
3
Market Scope and Segmentation
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Segments Types
By Type
By Application
By End User
Surgical Wound Care
Advanced Wound Care
Traditional Wound Care
Chronic Wound Care
Acute Wound Care
Hospitals and Specialty Wound Care Clinics
Long Term Care Facilities
Home Healthcare
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
By Regions
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Key Questions Answered in This Study
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What is the global market revenue of the Wound Care Product Market?
What is the future of the Wound Care Product Market?
What are the factors instrumental in changing the market scenario?
What are the drivers, restraints, and trends in the market?
What is the competitive scenario of the global Wound Care Product Market?
What are the strategies of the key market players?
How have competitors performed in 2016?
What are the different application areas in Wound Care Product Market?
What are the market shares and opportunities associated with Wound Care products in
various regions around the world?
What are the regions with maximum opportunity for the growth of the Wound Care
Product Market? Which are the countries in those regions have maximum opportunities?
What are the investment opportunities in the Wound Care Product Market?
5
Executive Summary - I
XX.XXX.X
XX.X
2014 2017 2022
Ove
rvie
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Trends
US$ bn
• High-cost manufacturing advanced wound care products
• Lack of high technical assistance.
• Strong competition and poor reimbursement issues
• Traditional wound care products are being replaced by the advanced wound care products by 2020.
• The surgical wound care product market is increasing at a decreasing rate, especially in the developed
markets due to the decreasing number of hospitals in the US and Europe.
• Technological advancements are opening new avenues for the growth of the advanced wound care product
market.
• The practice of home health care is now becoming a trend in the emerging markets like Asia Pacific, Latin
America.
• The global Wound Care Product Market is valued at US$XX.X billion in 2016.
• The market is expected to grow at a CAGR of XX% from 2014-2017.
• The Advanced Wound Care Product Market is the fastest growing segment with Surgical Wound Care Product Market
being the largest one.
• The Home Healthcare segment by the end user type is growing the most compared to others.
• High proportion of elderly population prone to different types of wounds
• Increased lifestyle-related diseases like diabetes, ulcer, etc.
• Rising economic status of population leading to better healthcare facilities
• Increased technological innovations especially in advanced wound care products
• New initiatives taken by government for the global market
Chapter 3: Wound Care Product Market Overview
7
Global Wound Care Product Market Overview
XX.X
XX.X
15.4
2014 2015 2016
X.X X.X X.X X.XX.X X.X
2017 2018 2019 2020 2021 2022
Key Highlights
Global historical market revenue (US$ bn) Global forecasted market revenue (US$ bn)
CAGR (2014-2017): X.X% CAGR (2017-2022): X.X%
Key Challenges
The Global Wound Care Product Market consists of a diverse range of products for the prevention of different types of wounds such as surgical wounds, advanced wounds and traditional
wounds. The market was worth US$XX.X billion in 2016 and is expected to grow at a CAGR of X.X% in the period of 2017-2022. It is a long-term market due to the rising prevalence of different
chronic wounds. Some products are growing slowly whereas higher growth rates among others drive the market, thereby leading to a steady expansion of the global market.
• The Advanced Wound Care Product Market is
taking over the Traditional Wound Care
Product Market due to its efficiency and
efficacy in healing wounds.
• The number of surgeries and also the hospital-
acquired infections are increasing worldwide
which result in the significant growth of the
Surgical Wound Care Product Market. But it is
increasing at a slow rate mostly in the
developed regions.
• The home healthcare segment of the Wound
Care Product Market is rising rapidly due to its
cost-effective nature. The long-term care
facilities also have a steady growth in the
market more than the hospital and specialty
wound care clinics.
• The high cost of developing and manufacturing advanced wound care products act as a barrier to the advancement of the market globally. Lower than anticipated revenue contribution
from the new products also act as a challenge to many top players of the market. The healthcare budgeting systems of many countries are the challenges of the advanced wound care
products. In the long run, these products help in decreasing the healing time and also the hospital costs, but in the short run, the evidence is not enough to make changes in the existing
health care expenditures for them.
• The presence of more intense competition also holds back the growth of the Wound Care Product Market. New players are entering the market which threatens the existing players and
forces them to develop new pioneering products to survive this competition. Also, the development of substitute products impends existing and conventional product categories. The
backing of the new technologies by the need for more defined clinical and economic evidence also hinders the acceptance of some of the advanced wound management technologies.
• A major challenge in this market is the non-availability for high quality technical assistance and skilled labor. Lack of knowledge regarding operating technically advanced products is a
restraining factor. In addition, complex regulatory approvals hinder the growth of the market. This is more prevalent in the developed markets like the US and Europe.
8
Geographical Market Share Study
X.XX.X
X.X
2014 2017 2022
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
X.XX.X
X.X
2014 2017 2022
X.XX.X
X.X
2014 2017 2022
X.XX.X
X.X
2014 2017 2022
X.XX.X
X.X
2014 2017 2022
The increased geriatric population is a major factor for
the growth of the global wound care product market.
The proportion of the aging population, i.e., aged 65
years and more is increasing worldwide significantly. By
2050, it is being projected that older persons will account
for one in every five people globally. This is more
advanced in regions like North America (US) and Europe
where it is expected to be more than one in every five
people. The relation between age and severe wounds is
very robust as they are much more prone to diseases like
diabetes, ulcer, hernia, etc. and this would raise the
demand for wound care products worldwide.
Rising prevalence of chronic and acute wounds propels
the growth of the global Wound Care Product Market.
Chronic or acute wounds are caused by diseases like
diabetes, ulcer, trauma. The number of people with
diabetes is expected to reach around 642 million by 2040.
India is the second largest diabetic pool in the world after
China. Rapid urbanization and industrialization lead to
lifestyle changes which adversely affect the risk associated
with diabetes. For example, in India high incidence of
diabetes is due to obesity, the lack of physical activity and
eating patterns that include food rich in fat, sugar and
calories. These lead to a significant growth in the Wound
Care Product Market.
The product manufacturers are introducing new innovative advanced
wound care products. These products help in healing the wounds
faster and also cause less infection. High surgical interventions cause
a high demand for such advanced wound care products. Moist
wound dressings and silver dressings are the most popular dressing
type among all the healthcare professionals. The innovation and R&D
of these advanced products are backed by the government funding.
The companies take initiatives of such activities for the expansion of
research and new developments in advanced wound care products.
They are producing cost-effective and single-use products like
Negative Pressure Wound Therapy (NPWT) which can be used in the
home care settings also. Thus developing new advanced wound care
products lead to the progressive growth of the Wound Care Product
Market. Again, favorable government reimbursement policies is a
driver of the global market.
Awareness about the new development of the advanced wound
care products is also increasing leading to advance of the Wound
Care Product Market globally. This awareness results in faster
acceptance of the new technologies and products and improves
their healthcare lifestyle. Medical tourism also is a factor for
raising the awareness of such products.
Wound Care Product Market Drivers
9
10
Wound Care Product Market Trends
The focus will shift from the Traditional Wound Care Product
Market to the Advanced Wound Care Product Market, which
includes active wound care along with the use of antimicrobial
dressings and Negative Pressure Wound Therapy (NPWT)
processes. This results in Advanced Wound Care Product
Market becoming the fastest growing segment globally.
Consumers are now well aware of the development of new
wound care products and about their efficacy and usefulness.
This attentiveness about the innovations in the global market,
like the drug-device combination, is obsoleting the risk of
infection in the wounds and helping them in having a healthier
life, creating new opportunities for the competitors of the
market.
New developments in the research and advancements of the
advanced wound care products promote faster curing and also
encourage a rise in life expectancy.
o Recently, ConvaTec launched Foam Lite™ ConvaTec
dressing, for expansion of their portfolio of silicone foam
dressing to provide customers with a varied range of
advanced dressing to heal chronic and acute wounds.
There is a recent trend of companies of new M&A transactions
so that they can expand and strengthen their portfolios
through acquisitions.
o Acelity L.P. Inc., one of the global leaders of the market,
was formed in September 2014 by the merger of Kinetic
Concepts(KCI), LifeCell and Systagenix.
The government funding is increasing for the technological
advancements of the overall Wound Care Product Market,
especially advanced wound care segment. This is leading to
the penetration of new competitors in the global market.
Chapter 4: Regional Overview
11
12
North America - Market Overview
Growth Drivers
North America
X.X X.X X.X X.X X.X X.X X.X X.X X.X
2014 2015 2016 2017 2018 2019 2020 2021 2022
CAGR (2014-2022): 5.2%
Market revenue (US$ bn)
Challenges
Major Trends
Advanced healing expertise (energy-based) potentially
reduce the cost by approximately 70% for the healing
process of composite wounds.
• An increase in the geriatric population is a major
driver of the Wound Care Product Market. The
correlation between aging population and severe
chronic and surgical wounds is very strong, which
leads to a higher demand for wound care
products.
o The proportion of the aged population
in the US is expected to increase to
nearly 24% by 2060 from 15%
presently.
• Increased advanced healing technologies
(energy-based) and also the rising demand for
combination dressings impel the Wound Care
Product Market in the US.• Cuts in reimbursement from cost pressures hinder the growth
rate of the US market. Imposing of excise taxes by PPACA is also
a major challenge for the Wound Care Product Market for this
region.
• Increasing cost of materials limits profitability for many wound
care companies that manufacture products for developed
markets.
Rising adoption of advanced wound care technologies
boosts the Wound Care Product Market in this region
due to their high rate of adoption of new technologies.
Chapter 5: Segmentation Overview-By Type
14
Surgical Wound Care – Global Market Snapshot
Overview
The Surgical Wound Care Product Market consists of those products which help in treating surgical wounds caused during surgery. This market was valued at US$X.X
billion in 2016 and will grow at a CAGR of X.X% in the forecasted period. It occupies the dominant share of the global Wound Care Product Market for the wound-
type segment.
XX% XX%
Market Share (2014, 2017 & 2022)
X.XX.X
X.X
2014 2017 2022
XX%
CAGR (2014-2022): X.X%
Drivers for Surgical Wound Care
Increase in the number of surgeries worldwide is a major driver ofthe global Surgical Wound Care Product Market.
Surveillance of infection in the surgical wounds after the surgeryalso results in growth of the market.
Regulatory mechanisms also act as a thrust to the development ofthe global market.
Challenges for Surgical Wound Care
The number of hospitals is decreasing in North America as most of themare non-profit facilities. This lead to a fall in the market for surgicalwound care as surgical wounds will now occur less than before.
The number of bed capacities in developing countries are also decreasingcompared to the increase in the proportion of the population, mostlycomposed of the aging baby boomers. This will also hamper the growth of themarket.
High Medium LowImpact:
15
Surgical Wound Care – Regional Revenue Scenario
NorthAmerica
Europe
Asia Pacific
LatinAmerica
Middle East& Africa
2017 US$X.X bn
NorthAmerica
Europe
Asia Pacific
Latin America
Middle East &Africa
2022 US$X.X bn
Regional Revenue contribution
Market Trends
The Surgical wound care product market is slightly falling in the developedcountries compared to the developing countries due to the rising demandfor the new advanced wound care.
The advancement of the Surgical Wound Care Product Market is leading to faster surgical recovery and efficient infection management.
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The Surgical Wound Care Product Market is falling in the matureregions like North America and Europe. The market is expectedto fall from 41.4% market share in 2014 to around 39% by 2022in North America. This is responsible for the reduction of somehospitals in these regions, especially in the US.But the Asian market is the fastest growing segment among allthe regions. It is expected to reach US$1.77 billion by 2022 witha CAGR of 8.6%.
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Smith & NephewRevenue: US$ 4.7bn
3M HealthcareRevenue: US$ 30.11bn
Molnlycke Revenue: US$ 1.68bn
Integra LifeSciences Holdings CorporationRevenue: US$ 0.99bn
Baxter International Inc.Revenue: US$ 10.16bn
FY 2016
FY 2016
FY 2016
FY 2016
FY 2016
Chapter 8: Company Profiles
Company Overview: Smith & Nephew
Company snapshot Key numbers (2016)
Locations
Strategic Initiatives
• Year of establishment: 1856
• Headquarters: London & Hull, United Kingdom
• Key People: Roberto Quarta (Chairman), Olivier Bohuon (CEO)
• Employee Strength (2017): 15,000
• Industry: Medical Equipment
• Ticker: LSE: SN, NYSE: SNN
• Website: www.smith-nephew.com
• Americas
• Europe
• Asia
• Australasia
• Middle East & Africa
Revenue (2016)US$ 4,669 Mn
Arthroscopic Enabling Technologies
Sports Medicine Joint Repair
Trauma & Extremities
28%
Advanced Wound Bioactives
Other Surgical Businesses
Advanced Wound Care
Advanced Wound Devices
Others
28%
28%
28%
28%
28%
28%
28%
15%
13%
13%
10%
7%
5%
4%
33%
• Company concentrates on mergers and acquisitions to further its strategic
and financial rationale, and to strengthen their commercial scale and
capabilities.
In October 2017, Smith & Nephew agreed to acquire
Rotational Medical Inc., that develops the technology of novel tissue
regeneration to heal shoulder rotator cuff. The agreement is worth US$125
million for initial cash consideration which will go up to US$85 million in the
next five years depending on the financial performance.
• The company emphasizes on new product innovations, especially in the
advanced wound care segment, and also latest surgical techniques to
address the real-life concerns of the patients living with wounds.
Smith & Nephew collaborated with the University of Hull in
July 2017 to develop scientific insights and pioneering treatments for
advanced wound care helping in creating the world’s largest Wound Care
Research Clusters.
• They also focus on the new emerging markets and new products following
the market and product development strategies.
In July 2016, Smith & Nephew extended its wound care
academy to the empire of Saudi Arabia.
Net Income
US$ 784 Mn
Gross Margin (%)
72.8%
Profit Margin (%)
16.8%
Products/Services
17
Chapter 10: Appendix
Appendix
19
Research Methodology
The study begins with identifying the right research question(s). The question depends on what we are going to achieve by conducting the research or what we wantto convey to the prospective customers through this research. Next, we identify the logical steps to arrive needed to arrive at the answers to the question(s). Theselogical steps form our research objectives. The research objectives provide us a guideline regarding what information we need to conduct analysis. We stronglybelieve that well-defined objectives will lead to clear results about the given market
The next stage of the research is conducted utilizing the secondary sources of information, using a process called desk/secondary research. Netscribes Inc. has aconsiderable volume of information in both quantitative and qualitative forms, across all major industries and its sectors. Also, we conduct an in-depth study of themarket, understanding its key stakeholders, drivers, trends, challenges and global opportunities covering major regions such as North America, Latin America, Europe,Asia Pacific, and Middle East & Africa. The key sources referred to for this research includes (but not limited to) the following: Financial reports published by the key market players Government and other official sources including the National Statistics National and International trade associations Paid databases Other reliable sources
Primary research complements the secondary research as it helps us gain insights from the industries directly by communicating with the senior executives, keyopinion leaders and independent consultants who are experts in their industries or specific industry sectors. Such interviews are conducted across the value chain ofthe market in question. A survey questionnaire is usually prepared for conducting any primary interview or survey. The questionnaire is developed with utmost care tofulfil the key research objectives and also to validate the assumptions about the market. This supplements the information otherwise unaddressed via secondaryresearch. The primary data collection is done by expert interviewers who have specific industry knowledge. Linguists are hired to conduct interviews in therespondent’s native language. Only paid interviews are conducted to incentivize the respondents and ensure that there is no shift of focus. Some of the primaryresearch methods applied at Netscribes include the following: In-depth Interviews Executive Interviews Expert Panels
The qualitative and quantitative findings from the above stages are brought together by specialists to perform a rigorous analysis. The regional market trends, drivers,and opportunities obtained during the analysis is compared with regional economic indicators, sector growth rates, population index, etc. to ensure data consistency.After ensuring the consistency, these historical and present indicators help us to understand how the market will perform in future. Our proprietary forecasting modelfactors in all these indicators to predict the future market accurately.
Appendix
20
Assumptions
A number of demographic factors such as prevalence of chronic diseases, population
growth, rise in geriatric population, increase in the prevalence of diabetes, ulcer, obesity,
etc. have been taken into consideration.
All the revenues and figures are expressed in US dollar billion.
No significant new competition has been considered while forecasting the market.
No unexpected changes in the external factors have been considered that could change
the global scenario of the market in the future.
No major technological development has been taken into consideration that may replace
wound care procedures in the coming years.
The inflation rate has not been taken into consideration while forecasting the revenue.
CAGR = Compound Annual Growth Rate
Appendix
21
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Thank You for Your Attention
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Global Wound Care Product Market report is part of Netscribes’ Healthcare Industry Series.
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