Market Definition
Wound care management products are bifurcated into traditional wound care and advanced wound care products. Traditional wound care management is more preferred across the globe wherein health practitioners use wound care products like medical tapes, dressings, and bandage rolls to protect the wound from external factors and to prevent bleeding and infections. Advanced wound care products promote a natural healing process, without restraining the wound and comprise the use of foam dressings, alginates, hydrogels, and hydrocolloids. These products ensure beneficial wound healing, optimum oxygen flow, consistent temperature, and protection from external factors.
To Know More: https://www.globalinsightservices.com/reports/advanced-wound-care-market/
Market Outlook
Ageing population across the globe
According to the UN Department of Economic and Social Affairs, in 2019, there were 703 million persons aged 65 years or over in the global population. This figure is projected to double to 1.5 billion in 2050. Globally, the share of the population aged 65 years or over increased from 6% in 1990 to 9% in 2019. That proportion is projected to rise further to 16% in 2050, when it is expected that one in six people across the globe will be aged 65 years or over. Such an intense rise in the population will create opportunities for advanced wound care as the wounds heal slowly and require high medical attention in geriatric people. So, in aged people, it becomes difficult to treat wounds owing to the high risk of infection, especially in cases of deep wounds.
Market Opportunities
Growing prevalence of diseases & conditions affecting wound healing capabilities of the patients
Physical health conditions, like acute wounds, chronic wounds, and surgical wounds, have a passive effect on wound healing. The prevalence of acute, chronic, and surgical wounds has raised significantly over the past years, primarily due to the growing global traumatic wounds, an increasing number of surgeries, and the increasing prevalence of conditions like obesity and diabetes. Diabetes and obesity may increase the overall incidence and complexity of wounds like infections, ulcerations (leg or foot ulcers), and chronic wounds, which necessitate treatments (advanced wound management) and incur exorbitant medical expenses. Various advanced wound care products, like hydrophilic foam dressings, hydrogels, hydrofibers, and alginates, which can absorb up to 20 times their weight, enable rapid and more effective recovery from these conditions.
Market Restraints
High cost of advanced wound care products
The above-average cost of chronic wound treatments and advanced wound care products may negatively affect their adoption, especially in cost-sensitive markets like Asia and the RoW. Patients and physicians in these regions have a preference for less-expensive advanced wound care products. Conversely, with growing awareness regarding the effectiveness of these products and increasing disposable incomes in many of these countries, the adoption of advanced wound care products is likely to increase in the upcoming years. Although these products are more expensive than traditional gauzes, recent studies indicate overall cost savings due to decreased labor costs. Advanced wound care products such as dressings typically are replaced every one to three compared to traditional gauzes that are often changed multiple times per day.
Impact of COVID-19 on Advanced Wound Care Market
The impact of COVID-19 on the industry is observed to be negative as a large number of countries adopted lockdown to restrain community transmission of the COVID-19 infection. The market witnessed a short-term disruption during the initial days of the COVID-19 pandemic due to the supply chain disruptions and a decline in non-urgent in-person clinic visits resulting negatively. Owing to the rapid spread of the COVID-19, several manufacturers in the market have been forced to halt their production and manufacturing operations. The risk of patients contracting COVID-19 infection in hospitals and other healthcare settings hampered the growth of the market. Special care and measures are being taken for needy patients in a controlled environment to combat the COVID-19 pandemic which will restore the industry growth to some extent.
Request Sample: https://www.globalinsightservices.com/request-sample/GIS10233
Research Objectives
• Estimates and forecast the overall market size for the total market, across product, service type, type, end-user, and region
• Detailed information and key takeaways on qualitative and quantitative trends, dynamics, business framework, competitive landscape, and company profiling
• Identify factors influencing market growth and challenges, opportunities, drivers and restraints
• Identify factors that could limit company participation in identified international markets to help properly calibrate market share expectations and growth rates
• Trace and evaluate key development strategies like acquisitions, product launches, mergers, collaborations, business expansions, agreements, partnerships, and R&D activities
• Thoroughly analyze smaller market segments strategically, focusing on their potential, individual patterns of growth, and impact on the overall market
• To thoroughly outline the competitive landscape within the market, including an assessment of business and corporate strategies, aimed at monitoring and dissecting competitive advancements.
• Identify the primary market participants, based on their business objectives, regional footprint, product offerings, and strategic initiatives
Request Customization: https://www.globalinsightservices.com/request-customization/GIS10233
Market Segmental Analysis
The Global Advanced Wound Care Market is segmented by product, wound type, end-user, and region. By product, the market is divided into dressings, devices & accessories, grafts & matrices, and topical agents. Based on the wound type the market is bifurcated into surgical & traumatic wounds, diabetic foot ulcers, pressure ulcers, venous leg ulcers, burns & other wounds. Whereas on the end user, the market is segmented into hospitals, community health service centers. Region-Wise the market is segmented by North America, Europe, Asia-Pacific, and the rest of the world.
Market Players of Global Advanced Wound Care Market
The key players in the global advanced wound care market are3M (Acelity Inc.) [US], Adynxx, Inc. [US], B Braun Melsungen AG [Germany], Coloplast A/S [Denmark], ConvaTec Group plc [UK], Essity AB (BSN Medical GmbH) [Sweden], Integra Lifesciences (Derma sciences) [US], Investor AB (Mölnlycke Health Care AB) [Sweden], Johnson & Johnson [US] and Medline Industries, Inc. [US].
Request Discounted Pricing: https://www.globalinsightservices.com/request-special-pricing/GIS10233
Research Scope
• Scope – Highlights, Trends, Insights. Attractiveness, Forecast
• Market Sizing – Product Type, End User, Offering Type, Technology, Region, Country, Others
• Market Dynamics – Market Segmentation, Demand and Supply, Bargaining Power of Buyers and Sellers, Drivers, Restraints, Opportunities, Threat Analysis, Impact Analysis, Porters 5 Forces, Ansoff Analysis, Supply Chain
• Business Framework – Case Studies, Regulatory Landscape, Pricing, Policies and Regulations, New Product Launches. M&As, Recent Developments
• Competitive Landscape – Market Share Analysis, Market Leaders, Emerging Players, Vendor Benchmarking, Developmental Strategy Benchmarking, PESTLE Analysis, Value Chain Analysis
• Company Profiles – Overview, Business Segments, Business Performance, Product Offering, Key Developmental Strategies, SWOT Analysis
Buy your copy here: https://www.globalinsightservices.com/checkout/single_user/GIS10233
About Us
With Global Insight Services, you receive:
• 10-year forecast to help you make strategic decisions
• In-depth segmentation which can be customized as per your requirements
• Free consultation with lead analyst of the report
• Infographic excel data pack, easy to analyze big data
• Robust and transparent research methodology
• Unmatched data quality and after sales service
Contact Us
Global Insight Services LLC
16192, Coastal Highway, Lewes DE 19958
E-mail: info@globalinsightservices.com
Phone: +1-833-761-1700
Website: https://www.globalinsightservices.com/
About Global Insight Services
Global Insight Services (GIS) is a leading multi-industry market research firm headquartered in Delaware, US. We are committed to providing our clients with highest quality data, analysis, and tools to meet all their market research needs. With GIS, you can be assured of the quality of the deliverables, robust & transparent research methodology, and superior service.