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SmartTRAK Life Sciences News and Analysis Blog

Kris Flinn

Analyst, Wound Care - 20+ years of experience within wound care including Smith & Nephew. Recently ran a consultancy focusing on assisting med device companies with commercial strategies. Kris is based in England.

Recent Posts

2 min read

Wound Debridement 2024 Outlook

By Kris Flinn on 2/12/24 12:08 AM

With the eyes of the wound care world focused on the markets for Skin Substitutes and Antimicrobials, SmartTRAK discusses how 2024 could be a disruptive year for Debridement.

SmartTRAK forecasts that the WW Debridement Market will grow at a 5-year CAGR of +4.9% to 2027E, at which point it will be valued at over half a billion dollars. In this article, Kris Flinn, SmartTRAK's Sr. Analyst, Wound, does a deep dive into what's ahead for the debridement market, including the indexed growth for Advanced Wound Care (AWC) and Debridement for each of the three SmartTRAK geographical regions: US, Europe (EU) and the Rest of World (ROW).

Among the topics covered in detail in this market outlook article, which can be downloaded here, are:

  • Chemical Debridement Growing Pains
    Chemical Debridement is the smallest of the Debridement segments The WW 5-year CAGR of +69.1% promises a brighter future, with usage growing across all geographic regions, including ...
  • New Enzymatic Debridement Technologies Continue to Build Evidence
    MediWound presented Phase IIB clinical trial results for bromelain-based EscharEx at the SAWC Spring meeting in May 2023. The 120-patient venous leg ulcer, multicenter, randomized control trial compared EscharEx with a placebo gel vehicle and a non-surgical standard of care (SoC). Results showed...
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2 min read

Combating Biofilms at Every Stage of Wound Care: An Interview w/ Hybrisan CEO Chris Mortimer

By Kris Flinn on 1/17/24 11:33 AM

SmartTRAK talks with Hybrisan CEO Dr. Mortimer to discuss the challenge of biofilms and the Company’s journey to bring its WoundSan technology to market.

The AWC Summit, held biannually, brings together established companies, start-ups, research organizations and various industry stakeholders. SmartTRAK previously covered the US event in July 2023 in Boston, MA, focusing on advancing the commercialization of new technologies in wound care, and was in London, UK to cover the EU Summit

A regular feature of the Advanced Wound Care (AWC) Summit is the Innovation Showcase. At the event in London, six companies took turns pitching their technologies, with the delegates voting to award one company as the winner.
Following the vote, the winning organization was announced as Hybrisan. SmartTRAK talked with Hybrisan CEO Dr. Mortimer to discuss its Woundsan technology and the challenge of combating biofilms in wound care. The interview can be viewed below and a transcript can be downloaded by clicking the button:

 

Download the Transcript
Future Events

The next AWC Summit will be the US edition and will take place in Boston, MA on the 16thand 17thof April, 2024. SmartTRAKwill be in attendance and will be discussing the latest insights within wound care. More information on the event is available  here. The next European event is planned for late 2024, with details to follow.

Topics: Wound Care
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4 min read

AWC Summit EU 2023: European and US Growth Explored in London

By Kris Flinn on 1/15/24 3:40 PM

SmartTRAK joined industry colleagues in London to explore new technologies at an exciting time in wound care.

SmartTRAK has determined the 2022 European Advanced Wound Care (AWC) Market grew at a +4.4% rate compared to 2021. AWC in Europe is dominated by Advanced Dressings, with Wound Biologics and External Devices only accounting for 18.6% of total revenue. This is in stark comparison with the US AWC Market in which highly-priced treatments such as Wound Biologics (44.4% share in US) and External Devices (28.4%) have favorable reimbursement levels. SmartTRAK forecasts both markets to benefit from healthy growth in the next five years despite some looming reimbursement challenges. In the US, Medicare Administrative Contractor LCD changes to skin substitutes (as featured in this article) could lead to reduced usage of the products in the hospital outpatient and physician office sites of care, and in Germany reimbursement on silver products is due to end in late 2024.
 
At the event in London, contributors discussed areas as varied as adapting to home care and remote monitoring, launching products in the US and keeping up with the changing European regulatory landscape as the Medical Device Regulation (MDR) replaces the old Medical Device Directive (MDD). SmartTRAK was present and Lennart Stadler, SmartTRAK GM and OUS Sr. Analyst, Wound, presented the latest market insights from the global AWC space, including an overview of the recent corporate activity (Figure 1).

The session that generated the greatest discussion was titled  “Investment 101.”   Asif Shahinsha from PharmaVentures , Pierre Socha from  Amadeus Capital Partners  and Gabor Heltovics from   NLC Health Ventures  discussed the best approaches toward fundraising and which companies have been successful. 

A regular feature of the AWC Summit is the Innovation Showcase. At the event in London, six companies took turns pitching their technologies, with the delegates voting to award one company as the winner.  The companies were:
 

The Innovation Showcase

At the event in London, six companies took turns pitching their technologies, with the delegates voting to award one company as the winner. The companies were:

  • Amferia– a Swedish company that is developing antimicrobial peptides for use in a variety of applications and carriers. The Company has made an FDA submission and is currently operating within the veterinary market.
  • Healthy.io– an Israeli digital organization that has launched Minuteful for Wound. The app is being used widely in the UK and has shown positive impacts on treatment, such as a 33% reduction in antimicrobial usage.
  • Hybrisan– a Welsh medtech product development company that has an antibiofilm technology called WoundSan. The solution can be used alongside existing antimicrobials such as silver and the company is in discussions with potential commercial partners.
  • Plasma4– a British cold plasma company spun out from the University of Lancaster. The product applies the treatment through a dressing.
  • SmartWound– a British biophysical chemistry company that has developed infection-sensing technologies within dressings or via a swab. The Company believes the test can be undertaken for around $6, making it less expensive than other alternatives.
  • SolasCure– this UK-based business has been visible on the market for a few years with its enzymatic debridement technology, Aurase. The product is moving towards its IIb clinical study and is unlikely to reach the market before 2028.
Following the vote, the winning organization was announced as Hybrisan. SmartTRAK talked with Hybrisan CEO Dr. Chris Mortimer to discuss the challenge of biofilms and the company’s journey to bring its WoundSan technology to market.

That interview, titled "Combating Biofilms at Every Stage of Wound Care," is featured in this post on the SmartTRAK blog.

To download and read the "AWC Summit EU 2023: European and US Growth Explored in London" article by Kris Flinn, SmartTRAK Sr. Analyst, Wound, just click the button below. Read the Article
 
Topics: Wound Care
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2 min read

AWC Summit 2023: Big Deals and Bright Ideas Drive Excitement

By Kris Flinn on 9/26/23 9:30 AM

SmartTRAK joined industry colleagues in Boston to explore new technologies at an exciting time in wound care.

SmartTRAK forecasts that the WW Advanced Wound Care (AWC) market will grow at a five-year CAGR of +5.3%. The acquisition of Kerecis by Coloplast highlights the value of successful products within the market. In Boston, MA, the week following the announcement of the Kerecis deal, stakeholders, including manufacturers and investors met at the Advanced Wound Care Summit (AWC Summit), an industry-led forum featuring insights from leading experts on the latest trends and innovations in wound care, with a focus on earlier-stage products and technologies. In this downloadable article, SmartTRAK provides an overview of the meeting and highlights companies that participated in the Innovation Showcase, a competition that features the most cutting-edge products or technologies. Also featured is SmartTRAK’s interview with Suzanne Moloney, Founder and CEO at HidraMed Solutions, the company that won the showcase. In this interview , Ms Maloney discusses HS and the Company’s journey to bring this technology to market. Click the video below to see the interview. A transcript of the interview is also provided in the article.
 


The Advanced Wound Care Summit EU 2024
The next AWC Summit will be the European edition and will take place in London, UK on the 28th and 29th of November. SmartTRAK will be in attendance and will be presenting the latest insights within wound care. More information on the event is available here.

Topics: Wound Care
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2 min read

Cold Plasma Poised for Growth in Europe: EWMA 2023

By Kris Flinn on 7/11/23 9:30 AM

SmartTRAK reports from the EWMA conference in Italy, where cold plasma companies are hoping to work together to take advantage of European market conditions.

Discover how Europe is transforming into a hotbed of innovation for chronic wound care through the breakthrough technology of cold plasma therapy. As the global focus on chronic wounds intensifies, European markets are witnessing a surge in new technologies that offer promising solutions. From smaller, portable devices to collaborative research efforts, this article highlights the rise of cold plasma therapy and its potential to revolutionize wound care. Download the article to further explore these, and other, key points:

  • Europe's lower revenue levels for advanced wound therapies compared to the US present an opportunity for new technologies to thrive.
  • Cold plasma therapy, utilizing low-temperature atmospheric pressure plasmas, demonstrates impressive benefits in treating chronic wounds, including bacterial inactivation and enhanced healing.
  • Recent advancements have led to the development of smaller and more portable cold plasma devices, expanding treatment options beyond hospitals to ambulatory settings and even patients' homes.
  • Swiss company ActivCell Group Ag, German companies neoplas med GmbH and Plasmacure BV and Dutch company Terraplasma Medical GmbH are among the pioneering companies offering innovative cold plasma devices.
  • The future of cold plasma therapy depends on the willingness of companies to collaborate, navigate regulatory challenges, and establish a distinct market presence.
  • While European advancements in cold plasma therapy are promising, the highly competitive US market remains a long-term goal for most companies, necessitating FDA approval and strategic partnerships.
  • The rapid growth of topical oxygen therapy in the US, driven by initiatives like the Veterans Association and state-level Medicaid approvals, could potentially outpace European progress once FDA approval is obtained.

The full article delves into the transformative potential of cold plasma therapy in chronic wound care. Explore the advancements, collaborations and challenges that shape Europe's emerging market and its race against the US in revolutionizing wound treatment. Just click the button below to download the complete "EWMA 2023 - Cold Plasma Poised for Growth in Europe" article by Kris Flinn, SmartTRAK Senior Analyst - Wound. Download the Article

Topics: Wound Care
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2 min read

Signs of Disruption? The Wound Debridement 2023 Outlook

By Kris Flinn on 6/5/23 10:22 AM

With Smith+Nephew having dominated the wound debridement market for over a decade, SmartTRAK looks at how 2023 could be a year where we see the first signs of disruption.

The WW Wound Debridement Market is forecast to grow at a five-year CAGR of ~5.1%, according to SmartTRAK estimates. Although Smith+Nephew (SNN) has long dominated this market with more than 74% share, SmartTRAK believes 2023 could be a year of disruption in wound debridement as multiple players across a range of segments are poised to see financial returns after years of commercial progress. It is also worth noting that sharp debridement accounts for over half of the debridement procedures in the US, so the route to market growth is clear. 

In this 2023 Market Outlook article, Kris Flinn, SmartTRAK's Senior Analyst, Wound, provides an outlook of the WW Wound Debridement Market, including factors that could disrupt the market over the next several years, and discusses why debridement is the wound market segment most primed for corporate activity in 2023 and beyond.
 
Among the many topics covered in the complete article, which can be downloaded here, are:
  • Smaller Players Help Drive Growth in Enzymatic Debridement
  • Chemical Debridement to Continue Geographic Expansion
  • Portfolio Gaps to be Addressed
  • Analysis of the Major Players
    • 3M
    • Smith+Nephew
    • Mölnlycke
    • Convatec
    • Urgo Medical

The fact that Smith + Nephew owns three-quarters of the WW Wound Debridement Market highlights two issues: firstly, the company has done an excellent job in establishing such a dominant position, and secondly, there is a ...

To download and read the complete "Wound Debridement 2023 Outlook" by Kris Flinn, SmartTRAK's Senior Analyst, Wound, just click the button below. Download the Wound Debridement 2023 Article

Topics: Wound Care
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3 min read

Five Companies to Watch in Wound Diagnostics in 2023

By Kris Flinn on 4/25/23 9:30 AM

The need for effective wound diagnostics has never been greater. SmartTRAK highlights five companies that may advance the market in 2023

SmartTRAK forecasts the US Diagnostics Aids Market to more than double in size by 2026E. There is a significant need for diagnostic technologies in US wound care, with hard-to-heal wounds anticipated to exceed four million by 2026E and advanced wound care revenues growing at a five-year compound annual growth rate of over 6% according to the SmartTRAK US AWC Market Overview.

In this article, SmartTRAK focuses on five noteworthy companies and the key initiatives they have planned for 2023 and also reveals four organizations that could disrupt the market this year. The five are:

  • Spectral MD
    • It is now ten years since Spectral MD was first awarded US Biomedical Advanced Research and Development Authority (BARDA) funding to accelerate the commercialization of its DeepView technology, a portable imaging system that uses ...

  • MolecuLight
    • Since 2015, MolecuLight has been very visible and active with its MolecuLight i:X device, a handheld fluorescence imaging device that provides real-time visualization of bacteria in chronic wounds at ...

  • Podimetrics
    • Podimetrics is another company that has ridden the challenges of the early 2020s with great success. Revenues have doubled for three years running and Company infrastructure has been ...

  • Smith+Nephew
    • SNN has shown a greater desire to establish itself within wound diagnostics than any other major wound care player. In addition to the Company’s agreement with MolecuLight, in 2019, SNN also acquired ...

  • 3M
    • SmartTRAK estimates that 3M had a 19.5% share of the WW Advanced Wound Care Market in the first nine months of 2022, making them the number one player. Over 80% of the Company’s revenue is from ...

The US Diagnostic Aids Market is highly fragmented, with a variety of start-ups, academic institutions and established players attempting to commercialize a range of technologies. As well as the five companies already featured, SmartTRAK believes that the following organizations could disrupt the market in 2023 ...

Just click the button below to download and read the "Five Companies to Watch in Wound Diagnostics in 2023" Market Outlook article by Kris Flinn, SmartTRAK Senior Analyst, Wound. Download the Market Outlook Article


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2 min read

Wound Care Today 2023: Low Growth Impacting the UK Advanced Dressings Market

By Kris Flinn on 4/11/23 9:30 AM

SmartTRAK reports on the Wound Care Today 2023 Conference, where a number of challenges facing UK Advanced Dressings companies were on display

The UK Advanced Dressings Market is projected to grow at a five-year compound annual growth rate (CAGR) of +1.9%, according to SmartTRAK estimates. The UK market is growing slower than any of the nine advanced dressings markets that SmartTRAK reports on, including the markets for Total Europe (+3.2%) and Worldwide (+5.0%). Given that the number of chronic wounds is increasing annually and the rate of UK inflation is in the double digits, why is the growth of the UK market so poor compared to other markets?

Among the may topics covered in detail in this comprehensive look into Wound Care 2023 article are:

  • Increasing Alignment of Advanced Dressing Portfolios
  • Increased Presence of Premium Priced Therapies
  • Digital Tools That Highlight Inappropriate Usage of Dressings
  • The Hidden Impact of Hidradenitis Suppurativa

Any usage of advanced dressings to manage HS is vulnerable to switching to products tailored to the condition. Quantifying the size of this market niche is challenging but could be an increasing area of focus in ...

To download and read the complete "Wound Care Today 2023: Low Growth Impacting the UK Advanced Dressings Market" perspective article by Kris Flinn, SmartTRAK's Senior Analyst, Wound, just click the button below.

Download the Article

Topics: Wound Care
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3 min read

Advanced Oxygen Therapy, Inc: The Value of Durable Healing

By Kris Flinn on 3/3/23 3:41 PM

SmartTRAK interviews Advanced Oxygen Therapy Inc CEO and President Dr. Mike Griffiths to discuss how durable healing can improve health equality

Oxygen-based therapies have been used on chronic wounds for many years. In a recent article on the 2023 Oxygen and Energy Market, SmartTRAK expressed the view that the Topical Oxygen Therapy Market will grow at a significant rate and that Advanced Oxygen Therapy Inc* is likely to be the biggest driver of that growth. The Company has established a solid evidence base for its TWO2* system, a Topical Wound Oxygen therapy system which applies cyclical pressurized directly to a patient’s wound at home or in a healthcare facility. SmartTRAK talked with the company Medical Director, President and CEO, Dr. Mike Griffiths, about the journey that the company has been on so far, how durable healing and patient-led home care can reduce health inequalities and why the company has recently entered the Negative Pressure Wound Therapy (NPWT) Market.

To find out more about Advanced Oxygen Therapy Inc, click on the following video to listen to the recorded interview (27:56 min). A complete transcript of the interview is available here. For more details, interview topics by timecode are provided below.

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2 min read

Oxygen & Energy Devices in Wound Care: Outlook for 2023

By Kris Flinn on 3/2/23 9:21 AM

With many of the “hard yards” already run, SmartTRAK believes that 2023 could be a promising year for the Oxygen and Energy segments of the Advanced Wound Care Market.

SmartTRAK estimates the 2021 WW Oxygen and Energy Market at just over $50.0MM. While this is not an insignificant amount, it trails far behind other Advanced Wound Care markets such as Negative Pressure Wound Therapy (NPWT) and Biologics. Last year, however, showed signs that clinicians are starting to realize the potential of these technologies. Here SmartTRAK looks at how some of the existing players in the markets for oxygen and energy therapies may show increased success in 2023 and why some of the leading wound care companies may soon be taking their first steps into these markets.

Among the many topics covered in this article are:

Topics: Wound Care
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