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Acquisitions and innovation are rapidly changing the dynamics in the global advanced wound care market, a high need, high growth market estimated at $5.4 billion in 2013. With the number of chronic wounds in major countries estimated at a whopping 26.7 million, the global advanced wound care market is projected to grow at a brisk 6% CAGR, reaching $7.3 billion by 2018.
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With estimated revenues in excess of $5 billion per year worldwide, the advanced wound care market has garnered the attention of both major companies and investors for its tremendous potential. Growth in this market is being driven by the development of new bioactive products that can successfully heal chronic wounds such as diabetic foot ulcers, which are among the most challenging and costly to treat. This article is reprinted from the June issue of Medtech Insight.
- Medical Devices
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