In 2011 the wound care management market was valued at $18.58 billion. The industry has been forecast to grow at a compound annual growth rate (CAGR) of 5% over the next six years, to be worth $25.86 billion in 2018.
The number of wound-care patients is expected to more than double during the next decade. This growth is being propelled in part by an aging population and the increasing amount of people with diabetes and obesity, each of which delay wound healing.
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.
The wound care market costs the US healthcare system more than $20 billion per year. This amount includes more than $4 billion spent on wound-management products.
Between 2008 and 2017, growth-factor therapies will experience the highest rate of growth, predicted to increase 400% from $200 million in 2008 to $1 billion in 2017.
Future growth in the wound care management market is expected to be driven by advances in technology and the introduction of new and innovative products for wound-care management.
This area includes advanced wound management, wound-closure devices, traditional wound management, pressure-relief devices, ostomy drainage bags, compression therapy and negative pressure wound therapy.
For more information on the wound care management market, see the latest research: Wound Care Management Market Report
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