Pune, India, Aug. 30, 2018 (GLOBE NEWSWIRE) -- Wound care products are a must-have medical item in modern hospitals and clinics. In fact, a vast majority of hospital supplies comprises wound care products. The latest data released by Market Research Future (MRFR) reveals that the global wound care will continue to exhibit a strong growth over the next couple of years. Demand for wound care products remain high on the back of increased incidences of external injuries, and surgical procedures.
A wide range of wound care products is available for treating both minor to major wounds. The focus remains on developing effective and novel wound care & closure products. The constant evolution of healthcare has ushered in advanced wound care solutions that provision quicker healing process for chronic wounds, cuts and burns. However, sluggish penetration of these products in developing countries is partly curtailing the market opportunities.
Global Wound Care Market Segmentation: Insights
MRFR’s data also includes a comprehensive segmental analysis of the market based on application, end users, wound type and product type. By application, the market has been segmented into ulcers, trauma wounds, surgical wounds, burn and others. Among these, the surgical wound segment is expected to retain its leading position throughout the assessment period. The segment is also expected to exhibit the fastest growth rate over the next nine years. By end-user, the market is segmented into clinics, trauma centers, hospitals, home healthcare and others. Currently, the hospital segment accounts for the largest market share and is likely to remain high profitable in 2018 and beyond.
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The trauma center segment is also expected to make a consideration to the growth of the market revenue. In addition, the segment is expected to witness fastest growth over the next nine years. By wound type, the market has been segmented into acute wounds, chronic wounds and others. The chronic wound segment holds the top pistons in the market. Demand for wound care for chonic wound is higher as compared to other types of wounds. By product type, the market has been segmented into traditional wound care products, active wound care products, advanced wound management products, wound care products, wound therapy devices, and others. Of these, the advanced wound management products segment will continue to witness high growth in the forthcoming years.
Competition Tracking
MRFR’s report has profiled some leading market participants, which include 3M (U.S.), Ethicon, Inc. (U.S.), ConvaTec (Europe), Braun Melsungen AG (Europe), Smith & Nephew (U.S.), Kinetic Concept, Inc. (U.S.) nd Baxter (U.S.).
Latest Industry News
- Texas-based chronic and surgical wound care products provider WNDM Medical Inc. reportedly reached a partnership agreement with The Catalyst Group, Inc., a capital market company. The agreement will allow WNDM Medical to move forward with its ongoing operations in a newly formed joint venture “Cellarate, LLC, with its 50% ownership. Reportedly, the move will also allow WNDM to expand its distribution channels in the future with new products and cater its customers in a more efficient manner.
- MolecuLight Inc., a wound imaging technology specialist has received the green signal for the US FDA top market and sell its innovative wound fluorescence imaging device- MolecuLight i:XTM . The company will be allowed distribute the product under FDA’s De Novo classification.
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Americas to Spearhead the Global Wound Care Market Over 2027
The Americas wound care market will continue to grow at a healthy pace during the projected future. Presence of a robust healthcare system provides major impetus to the region market. North America, in particular, presents tremendous opportunities to market players. Factors such as the high per-capita healthcare expenditure and easy accessibility to advanced wound care products puts the North America market in an advantageous position. At the same time, rising geriatric population and growing number of surgical procedures in the US and Canada is partly driving the demand for wound care products. America is followed by Europe. The market in Europe remain extremely important for players as sales of wound care products has been growing healthily across the region in recent years. A large number of Europeans have increased their overall healthcare spending. Demand for medical services and products including wound care product has witnessed an upsurge in the region. Cost burdens that wound impose on National Health Service in the UK has increased significantly in recent years. However, policy makers in the region are adopting a stricter stance towards introducing new healthcare coverage policies owing to the recent economic slowdown and socio-political uncertainties. Meanwhile, investments in the Asia Pacific is on the rise, the region is viewed as an exciting prospect by market players. The healthcare sector in the region is witnessing a tremendous boom owing to the enforcement of new healthy polices and increase government support.
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Wound Closure Device Market Research Report- Forecast to 2023
Global Wound Closure Device Market: Information by Device (Adhesives, Staples, and Others), Application (Burns and Others), Types of Wound (Acute Wound and Others), End-User (Hospitals, Community Healthcare Services, and Others) –Global Forecast Till 2023.
Wound Debridement Products Market Research Report- Forecast to 2023
The Global Wound Debridement Products Market is anticipated to grow at a single digit CAGR during the forecast period. Wound debridement is a process to eliminate foreign invaders, dead tissues, and toxic substances from human wounds. Wound debridement products aid in lowering poisonous materials that prevent wounds from getting healed. Growing aged population & serious wounds propel the market.
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