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Market research analysts at Technavio have estimated the global bioactive wound care market to grow steadily at an impressive CAGR of almost 14% by 2020. One of the primary factors that will drive the growth of this market during the forecast period is the recent introduction of favorable reimbursement policies. Aiming to extend incentives to physicians for offering cost-effective treatments and minimizing healthcare bills associated with wound care therapies, CMS (centers for Medicare and Medicaid services) have started transitioning the reimbursement model from the pay-for-service to pay-for-performance model. Since bioactive wound care products are one of the cost-effective solutions and insurance policies are likely to cover moist wound care dressings, their adoption is estimated to escalate in hospital settings and ambulatory surgical centers.
Though the bioactive wound care market involves wound biologics that has different treatment options, several medical practitioners rely on using traditional wound biologics treatments due to their proven safety and efficacy. This has induced vendors to develop and conduct clinical trials on innovative wound biologic products. Some vendors have started adopting regenerative medicine technology to heal chronic wounds that normally prove fatal. This emergence of new treatment options is considered to be one of the major trends to gain traction in this market in the next four years.
The alginate dressing segment is expected to dominate the bioactive wound care market during the forecast period and is estimated to be valued at about USD 2 billion by 2020. Made from seaweeds, alginate dressing is highly absorbent and provide a moist wound environment which is favorable in treating dry injuries. Moreover, they are suitable to treat bleeding wounds and keep nerve endings moist reducing pain. This makes them more preferable in treating heavily draining wounds, surgical wounds, first and second-degree burns, and in donor sites propelling wound care supplies.
During 2015, the Americas dominated the bioactive wound care market and accounted for a total market share of about 43%. Factors such as favorable reimbursement policies, the rise in a number of chronic wound cases, and the increasing awareness among patients will contribute to the growth of the market in this region. According to this market study, the Americas will continue to dominate this market in the next four years as well.
To ensure product differentiation and to gain a considerable share of the market, vendors are adopting creative strategies and constantly developing innovative wound healing products. Due to the presence of numerous large and small scale providers, this market appears fragmented. The recent focus on developing bioactive wound care dressing and the presence of local vendors in several countries is expected to intensify the level of competition in the market in the coming years.
The leading vendors in the market are -
The other prominent vendors in the market are Acelity, Advanced Medical Solutions, Aso, Aspen Surgical Products, Avita Medical, B. Braun Melsungen, Bastos Viegas, BioDlogics, BSN Medical, Capilano, Cardinal Health, ConvaTec, Cytori Therapeutics, Derma Sciences, DeRoyal Industries, GELITA, Hartmann, HemCon Medical, Intercytex, Johnson and Johnson, Kinetic Concepts, Kuros Biosurgery, Lohmann & Rauscher, MacroCure, Medline Industries, Medtronic (Covidien), Meyer-Haake Medical Innovations, Nuo Therapeutics, Organogenesis, Osiris Therapeutics, ProFibrix, Regenerys, Sutherland Medical, and Tepha.
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PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by product type
PART 07: Geographical segmentation
PART 08: Key leading countries
PART 09: Market drivers
PART 10: Impact of drivers
PART 11: Market challenges
PART 12: Impact of drivers and challenges
PART 13: Market trends
PART 14: Vendor landscape
PART 15: Key vendor analysis
PART 16: Appendix
PART 17: Explore Technavio
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