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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