Traditional wound care & closure and advanced wound care & closure products are used to treat acute and chronic wounds. Chronic wounds are hard to heal, which take more time to heal and are expensive to treat. Advanced wound care & closure products are raising as a standard solution for treating chronic wounds.
Attempts to reduce the duration of hospital stays in order to limit surgical healthcare costs and the rising proclivity towards products that improve therapeutic outcomes are boosting the demand for advanced wound care & closure products. The risks associated with ineffective wound healing endorse the demand for combination dressings, which is a trend these days in the market that is replacing conventional wound dressing methods.
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Global Wound Care Management Devices markets value is expected to grow at CAGR of 3.8% to reach a value of 24.26 Billion by 2023.
Drivers and restraints:
The Drivers that are influencing wound care management devices markets globally are rising aging population, increase in purchasing power due to higher disposable incomes and increasing occurrence of chronic diseases. Factors that are impelling the wound care management devices products are minimum need of bed capacity in hospitals and shifting prefarance towards the home therepy which improves healing and cut down the hospital time.
The restraints due to which the market is facing challenges are costly procedures and lack of proper reimbursements.
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Partition of the Market:
The global Wound Care Management Devices market is partitioned according to product into Advanced Wound Management Products, Surgical Wound Care and Traditional Wound Care. Advanced Wound Management Products are sectioned into advanced wound dressings, Therapy devices and Active wound care. Advanced wound dressings section of market is further sub-divided into foam dressings, hydrocolloid dressings, alginate dressings, hydrogel dressings and collagen dressings. Therapy devices is sub sectioned into negative pressure wound therapy, pressure relief devices, oxygen and hyperbaric oxygen devices and electrical stimulation devices. Active wound care section is classified among artificial & skin substitutes and topical agents. With respect to type of wound, the market is bifurcated among chronic wounds, acute wounds, surgical & traumatic wounds and burns. With respect to end users market is sectioned into hospitals, clinics and home care settings.
Geographically the Wound Care Management Devices market is partitioned into various countries namely, North America, Latin America, Europe, Asia-Pacific and Middle-East & Africa. North America leads the market. Asia Pacific region is likely to improve its market share in the future due to the technological advancements.
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Key players of the market:
Prominent players in Wound Care Management Devices market are Coloplast A/S (Denmark.), Baxter International Inc. (U.S.), Hollister Inc. (U.S.), Molnlycke 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.).
Scope of the Report:
The report offers an extensive examination of the business by giving the estimations of market potential and gauges with most extreme granularity. Along this, the variables persuasive in affecting the market flow and patterns are examined in detail at the item level. Further, the execution of the market at the territorial and nation level is evaluated and the prospects with high development potential are distinguished and discussed.
The key players in the business are profiled giving bits of knowledge on their money related execution, advertise position and development techniques. Similar investigation on prime strategical exercises of the market players depicting the key advancements like mergers and acquisitions, coordinated efforts and an assessment of the focused condition inside the business are given. The report additionally offers an expansive standpoint of the market alongside proposals from industry specialists on the open doors for speculation action.
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