Next Generation Wound Care Products for the World
Who We Are
LifeScience PLUS is a medical device company committed to developing and marketing revolutionary next-generation wound care technology. Through our line of BloodSTOP® wound care products, we have created a unique and revolutionary hemostatic matrix. BloodSTOP® is a plant-derived, hydrophilic material that, when properly applied, will actively aid blood coagulation and create a physical barrier and an environment for improved wound healing.
The BloodSTOP® product family is at the forefront of a new generation of wound care products for medical and dental industries that are not only more practical to administer but also more effective and palliative for the patient.
LifeScience PLUS founding members recognized early on the need for wound care products that could address the disadvantages of traditional dressings and adhesive bandages. Convenient, cost-effective and proven for a range of applications, the Company’s flagship BloodSTOP® and BloodSTOP® iX products are FDA cleared for external usage.
BloodSTOP® is CE certified for external use, and BloodSTOP® iX for external and internal use, wholly absorbable, for the control of bleeding during and after surgery, for the general population and for those on anticogulant medications in markets outside the U.S and Europe. LifeScience PLUS has identified and is actively exploring future indications for the medical professional marketplace based on clinical data and feedback from the medical community.
Global Wound Care Market Growth [IMS Data]
The total global wound care market (both OTC and medical professional sales) is estimated to be $14 billion and growing. Broadly speaking, the market could be separated into the following categories:
- Wound Management Products and Services
- Moist Wound Healing Dressings
- Wound Closure Products
- Biological Skins and Dressings
The hemostasis portion of the wound closure market grew from $300M in 2002 to $700M in 2007 and is expected to have double-digit growth through 2010. Already in wound closure, LSP will further seek to compete in the wound management and wound healing markets.
LifeScience PLUS has secured the FDA 510K market clearance for surface wound usage in both prescription and OTC markets. Both BloodSTOP® and BloodSTOP® iX have secured CE credentials for the products in European Union markets as well as 80 additional countries worldwide. Additionally, BloodSTOP® iX has CE certification for internal, surgical use, wholly absorbable, for the control of bleeding during and after surgery, for the general population and for those on anticogulant medications in the EU.
WILSON SONSINI GOODRICH & ROSATI
Genetic Engineering & Biotechnology NewsMay 1 2008 (Vol. 28, No. 9)(excerpt)
“Active Products Drive Wound-Care Market: Goal Is to Offer a Lower Overall Cost Solution” by Toby Zaleski, Ph.D.
Simply put, wound-care products aim to heal wounds in a timely manner and control infection. Wound-care products cost the U.S. healthcare system over $7 billion in 2007. When one considers the additional costs associated with potential complications such as infection, extended physician care, and lengthy hospital stays, however, total annual wound-care expenditures balloon to over $20 billion.
Furthermore, with the rapid spread of modern epidemics such as diabetes and obesity (both leading causes of chronic wounds), the rise of hospital-acquired infections, and an expanding elderly population, the situation will only worsen. As a result, there is an urgent need to reduce rising costs by reducing the length of patient-treatment cycles and improving infection management.
Advanced wound-care products include specialized dressings such as films, foams, and hydrogels that, in addition to providing a physical barrier to infection, all promote a moist environment for wound healing and/or exhibit some degree of antibacterial activity.
The advanced wound-care market generated sales of over $650 million in 2007, and we expect it will grow at a CAGR of just over 6%. It is likely though that any future growth in advanced wound care will come at the expense of basic wound care as both products and competitors reach market maturity.
Frost & Sullivan
“A Look at today’s Wound Care Market” Nov 2003 (excerpt)
by Minakshi Krishnan
The wound care industry has made several strides in the recent past and holds the potential for further development, with respect to both advancements in technology and financial growth.
Traditional vs. Advanced
Traditional dressings include gauze, bandages and basic dressings, while advanced dressings include a broad range of products. Advanced dressings are essentially divided into moist, active, and anti-microbial. The general perception in the industry is that the advanced wound dressings will take over the market completely rendering the traditional dressings passé. It has been scientifically proven that advanced dressings are superior to the traditional gauze and bandages, since the healing time is significantly reduced and the overall quality of care received is superior with these dressings.
Use of advanced wound dressings is on the rise in the case of the home care and long-term settings. These facilities are typically covered by the prospective payment system where the rate of healing and the outcome index are a priority.
…advancements are occurring every day with a dedicated focus on painless, quicker healing times resulting in a better quality of life to the end user. Due to compelling factors such as an aging population, increased patient awareness, rising healthcare costs, and change in reimbursement policies, this market is bound to witness stellar growth rates.
“Global Market for Advanced Wound Care Products”
Espicom Healthcare Intelligence
April 30, 2008
The US $4.6 billion global advanced wound care segment is the fastest growing area with double-digit growth of 10% per year. This growth is being driven by an ageing population, the rise in the incidence of diabetes worldwide and a steady advancement in technology and products that are more clinically efficient and cost-effective than their conventional counterparts.