PRZOOM - /newswire/ -
Palo Alto, CA, United States, 2006/03/08 - Frost & Sullivan finds that advanced dressings, bio-synthetic dressings, wound closure devices, growth factors and tissue-engineered constructs are the key technologies that drive the wound closure industry..
The development of new technologies that are specific for different types of wounds drives the industry to bring in innovations that would cater to a market that still relies on conventional methods. However, high cost of new developing technologies hinders market development. The ability to develop products/technologies/devices that will cater to the unmet needs effectively in terms of treatment and cost will throw up newer and innovative markets for development.
Frost & Sullivan (technicalinsights.frost.com) finds that advanced dressings, bio-synthetic dressings, wound closure devices, growth factors and tissue-engineered constructs are the key technologies that drive the wound closure industry.
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"Estimates show that almost two-thirds of the population is still treated with conventional modes of treatment," notes Frost & Sullivan research analyst Nivedithaa Gopaalakrishnan. "There is now a growing body of evidence amongst the patient population that all wounds cannot be treated by the same techniques."
The fact that all wounds cannot be treated by the same techniques drives the requirement for advanced types of dressings suited for specific conditions. With a growing body of clinical evidence that also indicate the chemistry between the specialized dressing and the wound, the decision of the right kind of treatment is more precisely delivered.
The biomaterial dressing and skin substitutes have been gaining a great degree of importance owing to the potential they have to mimic the natural systems without exhibiting any side effects. These technologies hold promise in the future but not in the immediate future. The prices of the available products under this category are exorbitant and hence the scope of the development of new innovative breakthrough technologies that can create a market for itself becomes limited.
“In the market that faces increasing competition, biomaterial and skin substitutes have been gaining a lot of importance owing to the potential benefits they exhibit," explains Gopaalakrishnan. "But their progress is more is in the research stage and involves huge R&D expenditure for these technologies to get commercialized."
This mature industry needs to witness complete breakthrough technologies that can turn the tide of the market. The product/technology needs to be effective and safe in terms of treatment and cost-effective too. The incidence and the occurrence of wounds are on a steady rise and there is large market for such technologies to cater to the unmet needs.
Advances in Wound Closure Technologies is part of the Medical Devices Technology in Healthcare for Technical Insights Subscription, which also includes research in the following markets: Global advanced wound management, U.S wound closure devices market and European wound closure markets. All research included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants. Interviews are available to the press.
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Frost & Sullivan, a global growth consulting company, has been partnering with clients to support the development of innovative strategies for more than 40 years. The company's industry expertise integrates growth consulting, growth partnership services, and corporate management training to identify and develop opportunities. Frost & Sullivan serves an extensive clientele that includes Global 1000 companies, emerging companies, and the investment community by providing comprehensive industry coverage that reflects a unique global perspective and combines ongoing analysis of markets, technologies, econometrics, and demographics.