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North America Market Study on Wound Debridement Products: Chronic Ulcers Application Segment to Retain Its Dominance Through 2024

Preview Analysis

Chronic ulcers segment is projected to account for a value share close to 45% during the forecast period

Chronic ulcers segment dominated the North America wound debridement product market in revenue terms in 2015 and is projected to continue to do so throughout the forecast period. The chronic ulcers segment is anticipated to record an attractiveness index of 1.4 during the forecast period. This segment accounted for more than 40% value share in 2015 and is projected to account for a market value share close to 45% by the end of 2024. Research experts at Persistence Market Research predict that by the end of 2024, the chronic ulcers segment is projected to reach more than US$ 130 Mn in value, expanding at a CAGR of 8.2% over the assessment period. The detailed market research also reveals that the chronic ulcers segment revenue share in the North America wound debridement product market is expected to grow 1.9x by 2024 end as compared to that in 2016 and the segment is also expected to create absolute dollar opportunity close to US$ 5 Mn in 2017 over 2016.

Growth in chronic wounds likely to fuel demand for wound debridement products in North America

Among chronic wounds, venous insufficiency ulcers constituted 50% of chronic leg ulcers resulting in venous etiology. Annual prevalence of venous insufficiency ulcers in those aged 65 and older has been estimated to be 1.69 per 100 people per year. Prevalence of pressure ulcers varies between 0.31% and 0.70% per year in the U.S., which is in tandem with the rate of the ageing population. As per statistics from the International Diabetes Federation, it is estimated that there will be over 400 Mn diabetics worldwide by 2025, with the greatest increases being noted in Asia, Africa and Latin America. In addition, around 25% of these patients are expected to develop foot ulcers during their lifetime. Increasing diabetic patients and thereby increasing incidences of diabetic foot ulcers is fueling demand in the wound debridement product market in North America. Per capita healthcare expenditure on chronic ulcers is currently following an uptrend across both developed and developing economies, which is expected to drive the growth of the wound debridement product market in North America region.

Another factor creating robust development in the wound debridement product market is rising government support in North America. Manufacturers of wound debridement products are getting support in the form of higher reimbursement from governments in developed countries, as the prevalence of chronic wounds like ulcer is high in the U.S. Increasing awareness among the population for advanced wound care management and improved usage of wound debridement products in home care settings is expected to boost the growth of this market.

Lohmann & Rauscher GmbH & Co. has acquired Dutch manufacturer Varitex N.V.

Lohmann & Rauscher GmbH & Co., a German Company that deals with chronic wounds such as chronic ulcers has enhanced its position in the Swiss healthcare market by merging with FLAWA AG. The company also acquired Dutch compression stocking manufacturer Varitex N.V. The company is primarily focused on delivering a range of cost effective and high quality products that enhance patient safety, reduce errors and hospital acquired infections and also improve inventory management efficiency. U.K. based Smith and Nephew PLC also operates in chronic wound management devices, while U.S. based Derma Sciences Inc. offers a wide range of dressings, branded and private-label adhesive bandages, compression bandages etc. to heal chronic ulcers.   

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