From OEM manufacturers getting dressings approved in the US to pressure injury prevention focus - SmartTRAK takes a closer look at what to keep an eye on in 2024.

SmartTRAK forecasts the WW Advanced Wound Dressing Market will grow at a 5-year CAGR of +5.2%. The market grew +5.2% in Q323 and +5.6% in the first three quarters of 2023. Advanced Wound Dressings is a market spread relatively evenly across geographies, with Europe currently representing a 44.1% share of the 2023 worldwide (WW) market, the US representing 27.9% and the ROW 28.0%.

Looking ahead, SmartTRAK sees three trends continuing in 2024. They are:

• Growing Use of OEM Manufacturers in the US
  In the US, most dressings require 510(k) clearance by the FDA. A strong trend in recent years is that original equipment manufacturer (OEM) providers have been getting their products approved for sale in the US and then ... (read more)
  
  
• Major Players Investing in Infrastructure
  Another trend of interest is more activity than usual from leading companies investing in infrastructure. SmartTRAK examines recent events and the potential drivers behind those decisions ... (read more)
  
  
• Growth in Dressings for Pressure Injury Prevention
  SmartTRAK expects the use of dressings for pressure injury prevention to be a key growth driver in the Advanced Wound Dressing Market in the coming years. The trend is supported by an increasing body of evidence indicating that ... (read more)
  

SmartTRAK has developed an in-depth analysis of the pressure injury prevention market, including the market size for the US, Europe, and the rest of the world (ROW), five-year forward forecasts, clinical and laboratory evidence, key drivers of market growth, and product technologies and claims. To find out more, please click here.

To download and read the complete "Advanced Wound Dressings: 2024 Market Outlook" by Lennart Stadler, SmartTRAK GM, OUS & Sr. Analyst, Wound and Anikó Szekér, SmartTRAK Sr. Analyst, Wound, just click the button below.

Rich ongoing data updates and comprehensive expert analyses will deliver evolving market trends and conditions for wound care professionals.

MALVERN Pa., (February 15, 2024) — HMP Global’s Wound Care Learning Network (WCLN) today announced a partnership with SmartTRAK, a comprehensive life sciences market intelligence solution providing real-time market data and analysis along with expert insight on evolving trends and conditions of interest for wound care professionals.

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...

Throughout 2023, SmartTRAK led the way in helping you Be The Expert in the MedTech industry. Serving as your trusted resource for the latest industry developments, we provided real-time market data and analysis across the orthopedic, wound care, regenerative medicine and neurotherapy sectors.  Presenting SmartTRAK's Top 12 Blog Posts from 2023, featuring indispensable insights from our expert analysts.

1. Could Reverse Hips Change the Total Hip Game?
   Hip Innovation Technology is betting on its Reverse HRS Hip to change the practice of total hip replacement
   
   
2. Three Ortho Robotics Companies to Watch in 2023
   SmartTRAK identifies three orthopedic robotics companies strategically positioned to shake things up this year in the fast-growing robotic-assisted TJA market.
   
   
3. Saluda Medical: Changing the Game in Spinal Cord Stimulation
   Saluda Medical President and CEO Jim Schuermann discusses the Company, the Evoke System and changing the game in SCS in an interview with SmartTRAK.
   
   
   
   

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:

Future Events

The next AWC Summit will be the US edition and will take place in Boston, MA on the 16^thand 17^thof 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.

MIAMI, FLORIDA — We are thrilled to announce that SmartTRAK's Susan Paquette, VP of Wound Care, will be speaking at the inaugural Cellular, Acellular and Matrix-like Products (CAMPs) Wound Care Summit 2024, set to take place on March 13-14 in the vibrant city of Miami. This two-day clinical and scientific summit aims to empower physicians and wound care professionals to achieve optimal outcomes, strategize for regulatory approval, and navigate reimbursement processes for CAMPs.

Over the last 10+ years, the market for skin substitutes has been turbulent with new technologies and products being launched and reimbursement changes occurring for the various sites of care. SmartTRAK highlights a few of these based on the recent SAWC Fall meeting.

Skin substitutes, also referred to as CTPs (cellular and/or tissue-based products) or CAMPs (cellular, acellular and matrix‑like products), remained front and center at the Symposium on Advanced Wound Care (SAWC) Fall meeting held in Las Vegas on November 2-5, 2023. The strong presence of these products mirrors a similar trend in the overall US Advanced Wound Care (AWC) market. For Q323, skin substitutes alone account for 37% of the US AWC market, more than Negative Pressure Wound Therapy (NPWT) or Advanced Dressings, according to an analysis of SmartTRAK Financial Dashboard.

In this article, SmartTRAK discusses in detail:

• The Migration of Skin Substitutes Over the Years
• Which Synthetics are Gaining Attention
• New Companies–Unique Technology and Innovations
• Health Policy Dynamics–Reimbursement and Advocacy
• The Future of US-Based AWC Companies
• The Potential for Acquisitions on the Horizon

To download and read the complete detailed "SAWC Fall 2023: Skin Substitutes Reign Again" article by SmartTRAK's Susan Paquette, VP & General Manager, Wound and Terry Hayslett, Sr. Analyst, Wound, just click the button below.

At the 20th World Congress of the International Union of Phlebology, SmartTRAK identifies market developments that will impact the treatment of venous and lymphatic diseases now and in the future.

The American Vein and Lymphatic Society recently hosted the 20th World Congress of the International Union of Phlebology (UIP 2023) in Miami Beach, FL. The Congress drew clinicians from around the world to discuss the latest advances in venous and lymphatic medicine. While the Congress covered many interesting topics, SmartTRAK noted market developments that will impact the treatment of venous and lymphatic diseases now and in the future. In this article, SmartTRAK explores the impact that the Centers for Medicare and Medicaid Services (CMS) reimbursement cuts are having on physicians treating venous and lymphatic diseases, examines how clinicians and industry are responding to the proposed Medicare coverage of lymphedema treatment items and evaluates what’s on the horizon for emerging technologies. 

This downloadable article, discussing the market developments that will impact the treatment of venous and lymphatic diseases now and in the future, delves into many compelling topics, including:

Physician Payment Cuts
The American Medical Association reported that between 2001 and 2023, the cost of operating a medical practice increased by 47%, while physician payment rates increased by only 9%. When adjusted for inflation, the rates have gone down by 26%. Dr. John Blebea, Vascular Surgeon and Clinical Professor of Surgery at Central Michigan University, underscored this point with a presentation titled “The Effect of Medicare Physician Reimbursement Cuts on Office-Based Practices.” Dr. Blebea noted that ...

New Medicare Coverage of Lymphedema Treatment Items
Medicare currently provides Durable Medical Equipment (DME) coverage or authorizes payment for certain compression items when used to treat venous stasis ulcers. However, Medicare does not provide coverage for many of the same items when they are used to treat lymphedema. This dynamic provides a great case study of the effectiveness of advocacy in calling for ...

Emerging Technologies
If innovation fuels growth in the med tech industry, then the number of sessions on emerging technologies at UIP 2023 should mean that the future is bright for venous and lymphatic medicine. Dr. Steve Elias, Director, Center for Vein Disease, Englewood Health Network, hosted several sessions on emerging innovations in thrombectomy, sclerotherapy, artificial intelligence (AI)-guided imaging, intravascular ultrasound and compression therapy. SmartTRAK has covered the Compression Therapy Market since 2015 and has watched ...

To download and read the complete article about The Future of Venous and Lymphatic Medicine by Terry Hayslett, SmartTRAK Senior Analyst, Advanced Wound Care, just click the button below.

New SaaS technology offering delivers competitive advantage in rapidly changing Ambulatory Surgery Center market.

SmartTRAK, the leading global Medtech business and market software intelligence solution in the Orthopedics, Wound Care, Regenerative Medicine and Neuro Therapy markets, announces the release of enhanced software products and strategic reports available for purchase in Q4 to help clients position themselves for growth in 2024 and beyond.