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Derma Sciences, Inc. (DSCI) Facilitating Improved Wound Care with Innovative Product Line
Derma Sciences is a tissue regeneration company focused on advanced wound and burn care. The company’s innovative product line utilizes a collection of patented technologies in order to better manage chronic and hard-to-heal wounds, including those resulting from diabetes and poor vascular function. Derma currently markets an assortment of evidence-based products designed to assist with tissue regeneration – including MEDIHONEY®, XTRASORB®, BIOGUARD®, ALGICELL® Ag, TCC-EZ®, AMNIOEXCEL® and AMNIOMATRIX®.
The domestic market for skin replacements and substitutes, as required for active wound repair, is expansive. In 2011, U.S. sales of tissue-engineered skin replacements, such as those produced by Derma, surpassed $404 million, according to a report by MedTech Insight. By 2016, combined sales are expected to reach nearly $550 million, demonstrating the considerable market potential of the company’s advanced product line.
In recent months, Derma has placed emphasis on promoting the market growth of its AMNIOEXCEL and AMNIOMATRIX products, which utilize components of the amniotic membrane and amniotic fluid recovered from living donors following a full-term pregnancy to promote tissue repair and regeneration. In the first quarter of 2015, these efforts resulted in a 17 percent increase in net sales for its advanced wound care (AWC) product line. Although total net sales dropped by 1.5 percent for the period, early market acceptance of Derma’s newest products could foreshadow an opportunity for strong financial growth in the months to come.
“Our commercial business is off to a strong start this year,” Edward J. Quilty, chairman and chief executive officer of Derma, stated in a news release. “We continue to believe in our strategy of investment in sales and marketing of our key AWC brands, leveraging our sales force investment through organic growth as well as introducing new products… This will provide the best return for our shareholders.”
In June, the company’s future growth prospects were greatly improved when Medicare coverage for its medical-grade honey product line, MEDIHONEY, was reinstated. This decision, which followed a January policy adjustment that temporarily classified the product as non-covered, immediately reopened access to MEDIHONEY products for Medicare Part B patients with eligible wounds.
“MEDIHONEY dressings are exceptional, versatile and cost-effective advanced wound care dressings that have helped hundreds of thousands of patients suffering from non-healing wounds,” continued Quilty. “We extend thanks to all our stakeholder groups for their work in support of reinstating coverage.”
Leveraging a proven product portfolio, as well as a promising development pipeline, Derma is in a strong strategic position to continue expanding upon its recent financial growth in the future.
For more information, visit www.dermasciences.com
