Wound care products are mainly used to treat complex wounds. Wounds and injuries are common afflictions that affect billions of people worldwide. The products are highly resistant to environmental inhibitors and foreign particles and are used by a nurse under the physician’s orders and supervision for various reasons. Hence, the rising risk factors and the need for cost-efficient treatments are driving the need for better wound care products.
3M Company and Smith & Nephew Plc – Notable Market Participants in Wound Care Market
The most notable market participants are Smith & Nephew; Ethicon USA LLC; Convatec Group Plc; BAXTER International Inc.; COLOPLAST AS; Paul HARTMANN AG; MEDTRONIC PLC; 3M COMPANY; MIMEDX, and Integra LifeSciences Holdings Corporation, occupying a considerable share of the market owing to their offerings to the market.
Market leaders are involved in extensive research for the development of new wound care with better efficiency and treatment outcomes. For instance, in September 2022, MiMedx Group, Inc. announced the launch of AMNIOEFFECT, a tri-layer PURION-processed human tissue allograft consisting of the amnion, intermediate, and chorion membrane layers of the placenta. AMNIOEFFECT complements and expands the Company’s Surgical Recovery product portfolio. In addition, AMNIOEFFECT offers superior handling characteristics and provides surgeons the capability to secure the tissue in place with sutures when needed to address a surgical wound.
Many well-known as well as small local companies are present in the market to provide diversified products to its customers. The larger firms are adopting the strategy of acquiring small firms to enhance its product portfolio and expand its footprint in different geographies. Additionally, various companies are also undergoing other strategic alliances such as collaborations and others to garner their significance and remain competitive in the market. Few on the important key developments from the industry are mentioned below:
|
Month & Year |
News |
| Sept-2022 | MiMedx Group, Inc. announced the launch of AXIOFILL, an Extracellular Matrix (ECM) Particulate product derived from human placental tissue. AXIOFILL is the first and only human placental-derived particulate product available for Surgical Recovery procedures. \As the first human placenta-derived ECM particulate, AXIOFILL offers a distinct advantage over other particulate products and provides impressive clinical utility for physicians treating complex surgical wounds |
| Mar-2022 | Convatec Group Plc announced that it had completed the Triad Life Sciences Inc (‘Triad’) acquisition. The Triad team’s current portfolio and product pipeline will transition to Convatec’s Advanced Wound Care (AWC) business. |
