The global wound care market is growing significantly due to rising growth of active wound care products in the industry. Massive unexplored market in wound care industry of developing economies are creating ample opportunities for the wound care market to grow at a considerable rate in the coming years. The new and innovative product developments along with technological advancement by the companies are supporting the demand of the wound care market in the coming years.
Wound care products helps in prevention of infection and promotes healing of the wound. The wound care products are used in order to reduce the hospital stay and reduce surgical healthcare cost. Moreover, increasing awareness of advanced wound care is supporting the growth of the global wound care market in the coming years.
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On the basis of products of wound care, the market can be categorized as traditional wound care, active wound care, advance wound care, basic wound care and therapy devices. The therapy devices comprises ultrasound, negative pressure wound therapy, electrical stimulation, whirlpool therapy, electromagnetic therapy devices, oxygen and hyperbaric oxygen, pressure relief devices, ultraviolet devices, and others. The basic wound care is further categorized as tapes, dry dressing and cleansers. Whereas, the advance wound care include foam dressing, films, hydrogels, alginates, hydrocolloids, super absorbers and others
The traditional wound care market can be categorized as wound closure products, tissue, adhesive, sealants and glues, anti infective dressings and others. The agilents segment is expected to be the fastest growing advance wound care segment in the global wound care market, due to rise in new innovative agilent products. By therapy devices, the negative pressure wound therapy segment is expected to grow with the fastest rate in the coming years, due to favorable reimbursement policies.
Some of the factors driving the growth of wound care market are rise in geriatric population, increasing prevalence of diabetes, changing lifestyle, increasing healthcare expenditure, and rising awareness regarding the new and innovative technologies used for the wound care. In addition, increasing number of surgeries, increasing prevalence of hospital acquired infection, increasing prevalence of pressure sores, venous ulcers, and chronic wounds, and rising government initiatives are also fueling the growth of the global wound care market. However, high cost of technologically advanced products for wound care, and unfavorable reimbursement policies are some of the factors restraining the growth of the wound care market to some extent.
Geographically, North America will be leading the global wound care market in the coming years, due to rise in aging population, favourable reimbursement policies, and increasing prevalence of acute and chronic conditions such as venous ulcer, pressure ulcer and diabetic foot ulcer. Moreover, Asia-Pacific is the fastest growing region in the global wound care market. The major reasons for the fastest growth in the region are increasing healthcare expenditure, improving healthcare infrastructure, increasing government initiatives and large pool of patients in the region. Moreover, the wound care market is growing due to increasing awareness of healthcare in the emerging countries, such as India and China, of Asia-Pacific region.
Some of the companies operating in the wound care market are 3M Company, Baxter International, Inc., Derma Sciences, Inc., Molnlycke Healthcare AB, Smith and Nephew, Kinetic Concepts, Inc., Johnson & Johnson, Coloplast A/S, Systagenix Wound Management Ltd., and Convatec Healthcare B.S.A.R.L.
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