Frost & Sullivan: Government Set for Wound Care Market Innovation, Growth

A new Frost & Sullivan report projects the government sector to be among the sources for new options to expand the world’s $9 billion wound care market.

The market analyst urged wound care manufacturers to watch the public health industry for direction in advanced treatment and cost management.

“The biggest opportunity for wound care manufacturers and suppliers will emerge from the public healthcare sector and hence, they must work closely with the government to determine and forecast demand in this sector,” Parthasarathy Raghava, senior research analyst at Frost & Sullivan Healthcare, said Wednesday.

“Players must also widen their product portfolio to gain consumers, particularly as public hospitals opt for bulk purchases to contain costs.”

Frost & Sullivan’s Global Wound Care Market Outlook identified greater patient awareness, better buying power, an increase in lifestyle diseases and population growth among several factors that will see a demand in wound care products and services through 2017.