GIA announces the release of a comprehensive global report on Wound Care Products market. The global Wound Care Products market is projected to reach US$22.8 billion by the year 2017, driven by an aging population, rapid increase in the number of people affected by diabetes and obesity, and rising incidence of hospital-acquired infections.
Development of advanced and cost-effective products in various segments and the need to cut down on healthcare costs are also expected to fuel growth in the market.
Wound care products are primarily aimed at ensuring timely healing of wounds and infection control. The demand for wound care products is projected to escalate, backed by a rise in aging population who are more prone to chronic wounds, rapid increase of modern epidemics such as diabetes and obesity and increasing occurrence of hospital-acquired infections.
Furthermore, development of clinically efficient and cost-effective wound care products is driving growth of the advanced wound care segment. Additionally, stringent reimbursement and regulatory environment is likely to compel manufacturers to develop innovative products that comply with the specific requisites thereby fueling growth of the market. An increasing number of innovative therapies and products are facilitating faster healing times and reducing the hospitalization period following a surgery.
Evolving biotechnology serves as a new means for manufacturers to garner high profits. Manufacturers are also responding to customer needs by introducing new products and devices in the market in order to enhance clinical outcomes.
The United States represents the largest market for wound care products, as stated by the new market research report on Wound Care Products. Growth in the market is primarily driven by the development and introduction of innovative and advanced products in the moist and active categories, in response to the increasing complexities of wound treatment procedures. The market is increasingly witnessing a shift in favor of advanced wound care products from traditional products.
Traditional wound care products market owing to its maturity is growing at a relatively slower pace.
Though advanced wound care products are making rapid progress, traditional products segment still accounts for two-thirds share of the market. Low cost and easy reimbursement are the primary factors that continue to sustain this mature market.
Wound management products market is predominated by developed countries backed by extensive insurance coverage for various primary healthcare procedures as well as the availability of advanced medical delivery infrastructure.
The demand scenario in emerging economies is expected to witness significant improvement owing to the increased accessibility and availability of basic health care services. Asia-Pacific represents the fastest growing regional market for wound management products reflecting a CAGR of 7.0% over the analysis period.
Rapid growth in the global wound care arena has led to intense competition with players vying to gain a larger share of the market.
The market is extremely saturated, and involves the participation of large multinational corporations with strong brand identities. Players profiled in the report include 3M Company, ConvaTec, Smith & Nephew, Coloplast, Molnlycke Health Care AB, Kinetic Concepts, Inc. Beiersdorf AG, BSN Medical GmbH & Co. KG, C.R. Bard Inc., Derma Sciences Inc., Medline Industries Inc., among others.
The research report titled "Wound Care Products: A Global Strategic Business Report" announced by Global Industry Analysts, Inc., provides a comprehensive review of market trends, competitive scenario, product introductions/innovations, and recent industry activity.
The study analyzes market data and analytics in terms of value sales for regions including The United States, Canada, Japan, Europe, Asia-Pacific, Latin America and Rest of World. Major segments analyzed include Traditional Wound Care Products (Wound Management Products and Wound Closure Products); and Advanced Wound Care Products (Moist Wound Healing Products; Active Wound Healing Products; Debriding Products; Cleansers; and Sealants).
For more details about this comprehensive market research report, please visit - www.strategyr.com/Wound_Care_Products_Market_Report.asp
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