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Advanced Wound Care Market|Global Industry|Market Analysis|Market Forecast to 2026

(PharmaNewsWire.Com, October 29, 2019 ) Market Overview:

Advancements in technologies, increasing aging population, rising prevalence of diabetics, and improving patient awareness and raising patient healthcare expenditure are some of the key factors driving the growth of the market.



Market Dynamics:

Advancements in technologies, increasing aging population, rising prevalence of diabetics, and improving patient awareness and raising patient healthcare expenditure are some of the key factors driving the growth of the market.



Advanced wound care products are expensive compared to traditional wound dressing techniques. Therefore, many patients opt for traditional dressings despite its slow healing process. This is one of the major challenges for the growth of the advanced wound dressings market globally.



The cost of treating chronic wounds in the U.S. is extremely high, with the charge per case ranging from 2,000 to 10,000 depending upon the condition and nursing costs. The cost of managing a pressure ulcer is estimated to be between 7,000 and 55,000 in the U.S., while the annual cost of all treatment is valued in billions. Unfavorable reimbursement policies are also restraining the growth of the market.



Market Segmentation:

Exudate is the fluid leaking from the wound, which has a vital role in the healing process. It is mainly water but also consists of nutrients, proteins, waste products and various types of cells such as platelets and macrophages. Exudate management accounts for 32.10% of the total advanced wound care market in 2017.



Foam Dressing market accounts for the largest market share of 32% in 2017. The adoption of foam dressing is estimated to rise regardless of high prices majorly due to the large applications and flexibility in maintaining a moist atmosphere for diverse wound types. Some of the major players in the foam wound dressing segment include 3M Company, Smith & Nephew plc, ConvaTec, Inc. Acelity, Molnlycke Healthcare, Medline Industries, Hollister, Hartmann Paul, Derma Sciences, and Coloplast among others.



The advanced wound care market by wound type is segmented into chronic wounds and acute wounds. The chronic wounds market is the largest market and is estimated to have a market value of USD 8,102.75 million in 2021. In chronic wounds, venous pressure ulcer accounts for the largest market share followed by Diabetic Foot Ulcer. The prevalence of venous leg ulcer in U.K. is 1 to 3 per 1,000. Venous leg ulcer increases with age and reaches 16 to 18 per 1,000 in the 75+ age group. Changing reimbursement scenarios of biological products, increasing preferences of moist wound dressing products and the growing prevalence of venous leg ulcer are the significant factors driving the growth of the Venous leg ulcer market.



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Geographical Analysis:

Geographically, the market is divided into North America, Europe, South America, Asia-Pacific and the Middle East and Africa.



The North American market is expected to retain its dominant position globally by the end of the forecasted period owing to a high incidence rate of diabetic foot ulcer cases. Moreover, other regions such as South-East Asia are also expected to grow at a higher rate due to the high incidence of severe burn-related wounds in such areas.



The advanced wound care market is expected to witness a high growth rate in developing countries such as China. India and Brazil. Substantial innovations and top product launches are seen in North America and European regions. Companies headquartered in developed region dominate the market share due to their advancements and innovations in product development.



Competitive Analysis:

Significant players of the market are 3M Healthcare, Urgo Medical, B.Braun Medical, Coloplast A/s, ConvaTec Inc, Derma Sciences, Inc.



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About Us:

DataM Intelligence was incorporated in the early weeks of 2017 as a Market Research and Consulting firm with just two people on board. Within a span of less than a year we have secured more than 100 unique customers from established organizations all over the world.



For more information:

Sai Kiran

Sales Manager at Data M Intelligence

Email: pr@datamintelligence.com

Tel: +1 877 441 4866

Website: www.datamintelligence.com

DataM Intelligence

Sai Kiran

+1 877 441 4866

pr@datamintelligence.com

Source: EmailWire.Com

Source: EmailWire.com


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