Advanced Wound Care Management Market - Growth, Trends, and Forecasts (2020 - 2025)
発行: Mordor Intelligence Pvt Ltd
ページ情報: 英文 115 Pages
The advanced wound care management market is mainly driven by technological advances, ageing population, problems associated with ineffective traditional wound healing methods, initiatives taken by the government, and a pressing need for swift and safer treatment of chronic wounds.
Furthermore, growing prevalence of several lifestyle disorders leading to chronic wounds, such as diabetic foot ulcer, venous leg ulcer, and pressure ulcer is one of the key factors estimated to encourage the growth of the advanced wound care management market in the coming years. For instance, The Independent Diabetes Trust in United Kingdom has stated in its report (2019) that in the United Kingdom, around 115,000 people develop diabetic foot ulcers, and 278,000 people are treated for venous leg ulcers, every year. These ulcers, thus take an average of 200 days to heal.
In addition, benefits such as lower the duration of the hospital stay in order to reduce the surgical healthcare expenses and the growing inclination toward products that enhance therapeutic outcomes are also driving the demand for the advanced wound care management market. However, the high cost associated with the treatment and reimbursement issues for the new technologies serve as factors which hinder the market.
Under Wound Dressings Segment, Foam Dressing is Expected to Register Robust Growth.
Asia-Pacific Region is Anticipated to Register a Robust CAGR
The Asia-Pacific advanced wound care management market, which consists of fast-developing economies has remained largely untapped. The advanced wound care management market is expanding steadily and has created abundant opportunities for the launch of new products. In terms of prospective growth potential, the Asia-Pacific advanced wound care management market is expected to witness the fastest growth.
However, the lack of awareness and price sensitivity has considerably hindered the growth of the advanced wound care management market in developing countries, such as India, China, Brazil, and others. North America leads the advanced wound care management market with the largest market share in the world, followed by Europe.
The advanced wound care management market is highly fragmented with the presence of a large number of players. As technology progresses and becomes more viable, the quality of life of patients afflicted with chronic wounds improves. Traditional wound care and closure products are being increasingly substituted with advanced wound care management and closure products due to their efficacy and effectiveness in managing wounds by enabling faster healing. Market players are focusing on various growth strategies in order to enhance the market presence by mergers, acquisitions, partnerships, collaborations, new product launches, etc.
The key market players in advanced wound care management are Convatec, Integra, Smith and Nephew Hartmann and Coloplast among others