The North America Wound Care Management Devices Market was worth $5.94 billion in 2016 and estimated to be growing at a CAGR of 3.1%, to reach $6.92 billion by 2021. North America presently dominates the market for wound care management devices and is estimated to sustain its strong hold for a few more years. Numerous players in this market are trying to enlarge their product portfolio in order to top the global market. As few companies are entering into the market by acquisitions, top companies are increasing their growth in this market by acquiring other companies. Few companies adopted product improvement and new product launches as its main business strategy to certify its dominance in this market.
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Increase in chronic wounds and ulcers, rising incidence of diabetes, aging population, increasing awareness about new technologies for wound care and government support in the form of funding are driving the growth of the wound care market. Though, high cost of technically superior products for wound care and lack of proper refund policies are the main challenges faced by the wound care management device market.
The North America Wound Care Management Devices market is segmented on the basis of product into Advanced Wound Management Products, Surgical Wound Care and Traditional Wound Care. Advanced Wound Management Products are segmented into advanced wound dressings, Therapy devices and Active wound care. Advanced wound dressings segment is further segmented into foam dressings, hydrocolloid dressings, alginate dressings, hydrogel dressings and collagen dressings. Therapy devices is sub segmented into negative pressure wound therapy, pressure relief devices, oxygen and hyperbaric oxygen devices and electrical stimulation devices. Active wound care segment is divided among artificial & skin substitutes and topical agents. On the basis of type of wound, the market is bifurcated among chronic wounds, acute wounds, surgical & traumatic wounds and burns. Based on end users market is divided among hospitals, clinics and home care settings.
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Based on geography the market is analysed under various countries namely, USA and Canada. USA leads the wound care management devices market followed by Canada.
The prominent players in the wound care market are Coloplast A/S (Denmark.), Baxter International Inc. (U.S.), Hollister Inc. (U.S.), Mölnlycke Health Care (Sweden), 3M Company (U.S.), Covidien PLC (Ireland), Ethicon Inc. (U.S.), Derma Sciences Inc. (U.S.), Convatec Healthcare B.S.A.R.L (U.S.), Acelity L.P/ (U.S.), and Smith & Nephew (U.K.).
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