Navi Mumbai, India (PressExposure) March 21, 2009 -- A new report "The Future of the US Advanced Wound Management Market to 2012" ( [http://www.bharatbook.com/Market-Research-Reports/Report-on-Future-of-the-US-Advanced-Wound-Management-Market-to-2012.html]) the business intelligence specialists, finds that the increase in the number of people with diabetes and the consequent rise in pressure and venous ulcers, coupled with cost control measures implemented by insurers will lead to an increased usage of advanced wound management products.
The US Advanced Wound Management Market to Maintain Its Growth Trajectory The US advanced wound management market is forecast to exceed $1 billion in 2012 with an annual growth rate of 9.0% from 2007 to 2012. The increase in the number of people with diabetes and increasing incidence of venous and pressure ulcers will be the key drivers of the market. The introduction of new and revised products in a phased manner, reimbursement from private and public insurers, healthcare professionals comfort and expertise in administering advanced wound management products, cost effectiveness and technological advances in the treatment of wounds are other factors expected to drive the market over the next five years.
Across the industry increasing emphasis is being laid on individual wound care where the treatment options are evaluated on a case-by-case basis. This is a major shift from earlier treatment methods where the focus was much more generic. Increasingly, physicians and not nurses are administering advanced wound care products for the treatment of chronic and acute wounds. This is leading to a more specialized care with a much better success rate in terms of wound healing.
Negative Pressure Wound Therapy to Grow In Double Digits over the Next Five Years
Revenues from negative pressure wound therapy unit sales in the US are forecast to grow from $150 million in 2007 to $288.3 million in 2012 with an annual growth rate of 14.0%. The negative pressure wound therapy marketsâ contribution towards the overall advanced wound management market is forecast to increase from 22.4% in 2007 to 28.0% in 2012. The home healthcare equipment market is being seen as the new growth avenue for the negative pressure wound therapy market.
Smith & Nephew to Continue to Lead the US Advanced Wound Management Market Smith & Nephew is the market leader in the US advanced wound management market with 23% market share. While the company is a clear market leader in hydrogels and semi permeable market segments, it is making great progress in the foam market segment owing to the continued success of ALLEVYN Ag dressings, launched in late 2007.
In February 2008, Smith & Nephew entered the negative pressure wound therapy market which is currently dominated by Kinetic Concepts. Smith & Nephew signed big contracts with Universal Hospital Services Inc and Apria Healthcare, Inc. As per the agreements, the two healthcare companies will distribute Smith & Nephewâs negative pressure wound therapy products to the U.S. home care market. This ensures Smith & Nephewâs continued dominance of the US advanced wound management market at least for the next five years.
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