Global Traditional Wound Management market analysis
Traditional wound care drugs are the most common types of products used to treat non-severe and acute wounds. These drugs are used to absorb exudate, stop bleeding, close open trauma and surgical wounds, and dry the wound to speed up healing.
By the end of 2027, the global traditional wound management market is expected to be worth US$ 5,926.0 million.
During the forecast period, the global traditional wound management market is projected to grow due to the rising prevalence of diabetic foot ulcers. In a community-based survey conducted by Kasturba Medical College in India in June 2018, the prevalence of diabetic foot ulcers was 51.8 percent.
Furthermore, the will geriatric demographic is projected to fuel growth of the global traditional wound management market. As per the World Health Organization, the global geriatric population will cross 2 billion by 2050, up from 900 million in 2015.
In terms of value, North America dominated the global traditional wound management market in 2019, contributing about 30.4 percent of the market share, followed by Europe.
The market’s growth is projected to be hampered by the increasing production and development of advanced wound care devices. Researchers from ETH Zurich and the National University of Singapore announced the production of super-hydrophobic hemostatic nanofiber composites for quick clotting and minimal adhesion in December 2019.
Furthermore, traditional wound care is a low-margin market. The majority of raw materials are shipped from emerging countries to developed markets that can manufacture and sell finished goods. Since these markets are largely unorganised, some trade takes place at a subsistence level. Due to lack of competitive margins, the emphasis is increasingly turning away from conventional products and toward innovative wound care treatment products. As a result, the growth of the global traditional wound management market is likely to be hampered.
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In order to improve the penetration of conventional wound care products in hospitals, market leaders must concentrate on improving relationships with surgeon stakeholders. According to market reports, surgeons play a critical role in wound dressing content selection. Offering this stakeholder audience a wide range of product options is projected to increase the likelihood of order production.
Furthermore, improving regulatory environments in developed countries are projected to provide attractive growth prospects for market participants. The formalisation of procedure practises, the implementation of improved clinical care protocols, the standardisation of medication use, and the shortening of certification and licence times for conventional wound control devices are all projected to benefit from the improvement and streamlining of regulatory procedures in developed countries.
The gauzes segment of the global traditional wound management market was worth US$ 1,820.3 million in 2019 and is projected to grow at a CAGR of 3.4 percent to US$ 2,381.9 million by 2027.
Due to their non-adherent and faster wicking capacity, non-woven gauzes are becoming more common in wound care and wound management. Woven gauzes are suitable for wound dressings, wound sealing, and general wound treatment because of their superior properties.
Payment providers are concentrating their efforts on presenting patients with a dependable and cost-effective wound care approach. As a result, both conventional and advanced wound care products have become popular.
Key companies contributing in the global traditional wound management market are Johnson & Johnson Pvt. Ltd., Smith & Nephew plc, Paul Hartman AG, Derma Sciences Inc., Cardinal Health, BSN Medical, DUKAL Corporation, Medline Industries, Inc., Molnlycke Health Care, B. Braun Melsungen AG, and Medtronic Plc.
To broaden their product range, major players in the market are focusing on cooperation and alliance initiatives. Mölnlycke collaborated with Tissue Analytics, a provider of advanced optical wound imaging platforms, in January 2018.
Main points in Traditional Wound Management Market Report Table of Content
Chapter 1 Industry Overview
1.3 Research Scope
1.4 Market Analysis by Regions
1.5 Global Traditional Wound Management Market Size Analysis from 2021 to 2027
11.6 COVID-19 Outbreak: Traditional Wound Management Industry Impact
Chapter 2 Global Traditional Wound Management Competition by Types, Applications, and Top Regions and Countries
2.1 Global Traditional Wound Management (Volume and Value) by Type
2.3 Global Traditional Wound Management (Volume and Value) by Regions
Chapter 3 Production Market Analysis
3.1 Global Production Market Analysis
3.2 Regional Production Market Analysis
Chapter 4 Global Traditional Wound Management Sales, Consumption, Export, Import by Regions (2016-2021)
Chapter 5 North America Traditional Wound Management Market Analysis
Chapter 6 East Asia Traditional Wound Management Market Analysis
Chapter 7 Europe Traditional Wound Management Market Analysis
Chapter 8 South Asia Traditional Wound Management Market Analysis
Chapter 9 Southeast Asia Traditional Wound Management Market Analysis
Chapter 10 Middle East Traditional Wound Management Market Analysis
Chapter 11 Africa Traditional Wound Management Market Analysis
Chapter 12 Oceania Traditional Wound Management Market Analysis
Chapter 13 South America Traditional Wound Management Market Analysis
Chapter 14 Company Profiles and Key Figures in Traditional Wound Management Business
Chapter 15 Global Traditional Wound Management Market Forecast (2021-2027)
Chapter 16 Conclusions
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