Obesity Pandemic to Mean Big Business for Wound Care Market in Emerging Countries.
The spread of lifestyle disorders such as obesity and diabetes in emerging countries offers vast potential for expansion in the wound care management market, explains a new report from business intelligence providers GBI Research.
According to the report*, Western countries currently account for a significant majority of the global wound care management market due to greater product awareness and a large patient pool. But as incidences of obesity and diabetes, among other conditions, continue to rise in hugely populated countries like India and China, the market disparity is expected to shrink.
The wound care management market was valued at $18.58 billion in 2011, but GBI Research predict this figure will rise at a Compound Annual Growth Rate (CAGR) of 5% to reach $25.86 billion in 2018.
The global diabetes population stood at 311 million in 2011, but this figure is expected to almost double to 550 million by 2030. The condition carries with it problems such as foot, pressure and venous ulcers. Equally, obesity has associated complications that include chronic ulcers and wounds. All of these secondary ailments require the wound care treatment that recently introduced devices can provide more effectively
GBI Research states that factors such like rapid urbanization and increases in the numbers of elderly are leading to an increase in these lifestyle disorders in the emerging economies of India, China and Brazil.
A 2010 report by the World Alliance for Wound and Lymphedema Care (WAWLC) found that the prevalence rate of chronic wounds in India is 4.5 per 1000 people and the number of those with acute wounds was 10.5 per 1000 people.
In China, chronic cutaneous wounds were found to be on the increase, prevalent in nearly 31% of patients in the 40-60 age range and 38% of those aged 60-80. Diabetes was cited as the leading cause of chronic wounds in 31.3% of men and nearly 35% of women (Jiang Y. et al. 2011).
At the moment, the US holds the greatest share of the wound care management device market with 45%, followed by Japan and Germany with 14% and 9%, respectively. Japan is seen as a market with great potential for these devices, with GBI Research citing Negative Pressure Wound Therapy (NPWT) in particular as very promising technology in another recent report.
*Wound Care Management Market to 2018 - Advanced Wound Care Modalities and an Expanding Patient Base Create Significant Growth Opportunities in Emerging Countries
This report provides key data, information and analysis on the global wound care management market. The report provides a market landscape, competitive landscape and market trends information on the nine wound care management market categories of: advanced wound management, automated suturing devices, compression therapy, Negative Pressure Wound Therapy (NPWT), ostomy drainage bags, pressure relief devices, tissue engineering, traditional wound management and wound closure devices. The report provides comprehensive information on the key trends affecting these categories, and key analytical content on the market dynamics. The report also reviews the competitive landscape and gives a detailed analysis of the pipeline products in each category. The report also reviews details regarding important merger and acquisition deals that have taken place in the global wound care management market.
This report is built using data and information sourced from proprietary databases, primary and secondary research and in-house analysis by GBI Research’s team of industry experts.Companies Mentioned
- Kinetic Concepts, Inc.
- Covidien Plc
- Coloplast A/S
- Smith & Nephew Plc
- Hartmann Group
- Molnlycke Healthcare AB
- Hollister Incorporated
- Ethicon, Inc.
- Sigvaris, Inc.
- Johnson & Johnson (J&J)