Global Advanced Wound Care Management Market Growth Analysis 2016-24

Most hospitals and wound care clinics now prefer to use advanced wound care products that are specially designed for the treatment of more complex wounds. Such products including advanced dressings, wound care EMRs and apps have demonstrated their capability in speeding up the process of wound healing and recovery. According to a recent market report from Transparency Market Research, the global advanced wound care management market is estimated to grow at 6.3% CAGR from 2016 through 2024, to reach US$11.2 billion by 2024.

As per the report, some of the key factors that drive the wound care management market include rising prevalence of chronic wounds, technological advancements, increasing patient awareness and health care expenditure, rapidly rising global geriatric population and the growing understanding of the need for treatment of complex wounds. However, it is also noted that high product costs and unfavorable reimbursement scenario may restrain the market growth.

Key findings of the report include:

  • Advanced wound care dressings, the largest segment of the market is expected to expand at a CAGR of 6.1% during the forecast period. Though foam dressings were popular, alginate dressings have steadily gained popularity over the past few years, due to their cost effectiveness.
  • Though the active wound care segment will continue to account for a relatively lower share in the market, it will exhibit a CAGR of 8.0%. Being primarily used to treat infected wounds rather than preventing infection, antimicrobial dressings will grow at a sluggish pace over the forecast period.
  • Owing to the rising number of patients with diabetes and other vascular diseases, North America leads the overall advanced wound care market, followed by Europe.

Key players in the advanced wound care management market include 3M, Acelity L.P. Inc., B. Braun Melsungen AG, BSN medical GmbH, and Coloplast A/S.

Wound Care Documentation with Advanced Systems

Adequate and complete documentation plays a key role in treating wounds successfully. The medical billing for wound care services also involves a thorough review of the patient’s medical record for the wound such as wound dimensions, chronic diseases, procedures offered to manage the wound, follow-up, first visit, photographs of the wound, and wound progress. Wound clinics can choose to benefit from advanced wound care software like WoundWizard® that is ideal to document, monitor, review and report wound treatments over time. Extremely mobile, this cloud-based software can be easily accessed on laptops, netbooks, iPads and other devices from virtually any internet connection.