(PharmaNewsWire.Com, June 08, 2017 ) The Global Wound Care Management Devices Market was worth $18 billion in 2016 and estimated to be growing at a CAGR of 3.8%, to reach $21.69 billion by 2021. Due to the fast evolution of market in the usage of wound closure devices, medical device companies which are about to launch new innovative tools will be awarded with great benefits.
Traditional wound care & closure and advanced wound care & closure products are used to treat acute and chronic wounds. Chronic wounds are difficult to heal, which take considerable time to heal and are costly to treat. Advanced wound care & closure products are rising as a standard solution for treating chronic wounds.
Attempts to decrease the duration of hospital stays in order to limit surgical healthcare expenses and the increasing proclivity towards products that improve therapeutic outcomes are driving the demand for advanced wound care & closure products. The risks coupled with ineffective wound healing promote the demand for combination dressings, which is a modern trend in the market that is replacing traditional wound dressing methods.
The global Wound Care Management Devices market is segmented on the basis of product into Advanced Wound Management Products, Surgical Wound Care and Traditional Wound Care. Advanced Wound Management Products are segmented into advanced wound dressings, Therapy devices and Active wound care. Advanced wound dressings segment is further segmented into foam dressings, hydrocolloid dressings, alginate dressings, hydrogel dressings and collagen dressings. Therapy devices is sub segmented into negative pressure wound therapy, pressure relief devices, oxygen and hyperbaric oxygen devices and electrical stimulation devices. Active wound care segment is divided among artificial & skin substitutes and topical agents. On the basis of type of wound, the market is bifurcated among chronic wounds, acute wounds, surgical & traumatic wounds and burns. Based on end users market is divided among hospitals, clinics and home care settings.
Based on geography the market is analysed under various regions namely, North America, Latin America, Europe, Asia-Pacific and Middle-East & Africa. North America presently dominates the market for wound care management devices and is estimated to sustain its strong hold for a few more years. Asia Pacific region is anticipated to increase its market share in the future due to the increase in technological advancements.
The prominent players in the wound care market are Coloplast A/S (Denmark.), Baxter International Inc. (U.S.), Hollister Inc. (U.S.), Mölnlycke 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.).
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