The global wound care devices market is expected to rise at a healthy CAGR of 5.1% between 2017 and 2025 as per a new report by Fortune Business Insights. As per the report, the market was valued at USD 1994.8 Mn in 2017 and is projected to reach a valuation of USD 2949.2 Mn by 2025. As a result of innovations witnessed across diverse sectors, the wound care management in the healthcare industry is likely to witness remarkable growth in the coming years.
“Hyperbaric Oxygen Therapy to Witness Considerably High Demand”
In terms of product, hyperbaric oxygen therapy offers several clinical benefits for the treatment of necrotizing and hard-to-heal tissue wounds. Considering this factor, the segment is expected to witness high demand among wound care dressings and devices. Moreover, it covered a share of 7% in the global Wound Care Devices Market in the year 2017.
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Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
• Smith & Nephew
• KCI Licensing, Inc.
• Talley Group Ltd
• Cardinal Health
• ConvaTec, Inc.
• DeRoyal Industries, Inc.
• Devon Medical Products
• BSN medical
• Medela AG
“New Product launches by Smith & Nephew Intended to Strengthen its Position”
The global wound care devices market is highly consolidated in nature owing to robust networking distribution of leading players. The rising demand for high-quality and branded products encourages companies to operate in the market. Companies are planning to focus on mergers and acquisitions (M&A) and new product launches to survive the competition.
Some of the major players present in the Wound Care Devices Market include Smith & Nephew, Cardinal Health, KCI Licensing, Inc., ConvaTec, Inc., Devon Medical Products, BSN medical, Medela AG, and Talley Group Ltd. Smith & Nephew launched a wound care device called PICO 7Y in October 2018. This device is one of the first portable single-use negative pressure device in the world and can treat two wounds at the same time.
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“Easy Accessibility of Products to Help Market Grow in North America”
The wound care devices market in North America was valued at USD 796.4 Mn in the year 2017 and is expected to grow at a higher percentage during the forecast years. Growing geriatric pollution and rising awareness about wound care treatment are key factors driving the market in this region.
Furthermore, rising prevalence of different types of ulcers in the U.S. is expected to facilitate growth of the market, stirring demand for wound care dressings. As per a study conducted by the CDC, the U.S., registers 2.5 million patients suffering from pressure ulcers each year.
Besides North America, Asia Pacific is projected to show attractive growth owing to large population bases especially in China and India. Also, growing prevalence of diabetes in this region is expected to drive the Wound Care Devices Market Asia Pacific.
Market Segmentation:
By Product
• Negative Pressure Wound Therapy (NPWT)
• Hyperbaric Oxygen Therapy (HBOT)
• Extracorporeal Shock Wave Therapy (ESWT)
• Others (Compression Therapy, etc.)
By Geography
• North America (USA and Canada)
• Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
• Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
• Latin America (Brazil, Mexico and Rest of Latin America)
• Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)
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“Increase in Governments Spending to Fuel Demand for Wound Care Devices”
The rising prevalence of chronic diseases such as diabetic foot ulcers among the geriatric population and obesity is enabling growth in the Wound Care Devices Market. This will further fuel the demand for wound care therapies and wound care medical devices. As diabetic foot ulcers take time to heal, wound care products help to reduce the healing time and improve the patient’s quality of life.
In addition to this, the rising awareness about hygienic conditions among patients is escalating demand for wound care devices. The growth of the market is boosting on account of rising per capita expenditure on healthcare and disposable income especially in developing countries. Growing demand for anti-infective wound dressings such as iodine-based and plant-based to treat chronic wounds is trending. This is expected to drive the global market during the forecast period.
Table of Contents for Wound Care Devices Market:
1. Introduction
1.1. Research Scope
1.2. Market Segmentation
1.3. Research Methodology
1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
3.1. Market Drivers
3.2. Market Restraints
3.3. Market Opportunities
4. Key Insights
4.1. Prevalence of key Indications, 2017 (Key Countries)
4.2. Economic cost Burden, Chronic wounds (Key Countries)
4.3. Reimbursement Scenario, Key Countries
4.4. Pricing Analysis, Key Players, 2017
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