According to the new market research report “Advanced Wound Care Market by Product (Wound Dressings (Foams, Hydrocolloids, Alginates, Collagen), Therapy Devices (Electrical Devices, Pressure Relief Devices) Active Wound Care (Autograft, Allograft), Wound Type (Surgical, Trauma, Ulcers, Burns), End User (Hospital, Home Care) - Global Analysis & Forecast, 2019-2030“, published by Market Industry Reports, the global advanced wound care market is estimated to be over US$ 8.5 Bn in 2017. It is anticipated to grow at a substantial CAGR from 2019 to 2030.
New York, NY -- (SBWIRE) -- 03/03/2019 -- The Study On Major Key Players in the Advanced Wound Care Market are Smith & Nephew, B. Braun, ConvaTec Group, Integra LifeSciences, 3M, Cardinal Health, Medtronic, MPM Medical, Paul HARTMANN, and MiMedx Group, among others.
The global advance wound care market is driven by technological advancements in the wound therapy arena, increasing patient awareness and health care expenditure, rising prevalence of chronic wounds, and rising need for treatment of complex wounds are major factors driving the market. However, high cost related to advance wound care products is likely to restrain the market to certain extent.
Market growth can be attributed to a number of factors such as the increasing incidence of chronic diseases, rapid growth in the aging population, and growing number of surgical procedures. Stringent regulatory requirements for new products and increasing incidence of medication errors and lack of wireless connectivity in most hospitals pose challenges for the growth of this market.
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Increasing Geriatric Population
The population of geriatric population across the world has grown rapidly over the past several decades. Moreover, this growth has witnessed an unprecedented rate in recent times. In 2016, it was approximated that the population of individuals aged 65 years or older was 8.5% or 617 million of the entire world population. Furthermore, it is projected that the figure will witness an increment to 17% i.e. 1.6 billion by the end of 2050. Such rapid growth of geriatric population is anticipated to present a remunerative growth opportunity for the global advanced wound care market in the coming times. Since, the utilization of advanced wound care products for assisting treatment and facilitating faster recovery of wounds among aged population is enormously crucial.
Increasing Prevalence of Diabetes
Diabetes is one of the most prominent, prevalent and menacing chronic diseases, which is known to affect millions of individuals worldwide. According to the report Global Burden of Disease (GBD), published in 2015, the prevalence of diabetes witnessed a substantial increment of 30.6% between 2005 and 2015. The prospect of wound care and treatment is extremely vital among population suffering from chronic disorders, namely diabetes and several others. Since, failure to treat the same, may lead to fatal outcomes. Therefore, the continual rise in prevalence of diabetes is expected to present an attractive growth prospect for the advanced wound care market in the times to come.
High Costs of Advanced Wound Care Products to Restrain the Market
High costs associated with advanced wound care products are one of the major factors affecting the growth of the advanced wound care market. Availability of affordable and cheaper versions of wound care products and high surgical costs associated with advanced wound care products is anticipated to be one of the major hindrances in the growth of the global advanced wound care market.
Rapid Growth of the Asia Pacific Market
Asia Pacific is estimated to witness the highest CAGR during the forecast period. Increasing geriatric population, continuously growing economy, increasing burden of chronic diseases and increasing awareness regarding latest healthcare technology is anticipated to present a lucrative growth scenario for the advanced wound care market in this region. Furthermore, improving healthcare facilities, coupled with supportive government healthcare regulations and norms is expected to present an attractive growth prospect for the market in the coming years.
Global Advance Wound Care Market - Analysis & Forecast, By Wound Type
- Surgical Wounds
- Traumatic Wounds
- Other Wounds
Global Advance Wound Care Market - Analysis & Forecast, By End User
- Home Care Setting
- Hospitals & Clinics
- Other End User
View Full Report Details and Table of Contents- https://www.marketindustryreports.com/1/advanced-wound-care-market
Key points from TOC
11 COMPANY PROFILES
(Business Overview, Products/Services Offered, Financial Performance, R&D Intensity,Marketing & Sales Intensity, Recent Developments, Analyst Corner)*
11.1 Smith & Nephew
11.3 ConvaTec Group
11.4 Integra Lifesciences
11.6 Cardinal Heatch
11.8 MPM Medical
11.9 Paul Hartmann
11.10 MiMedx Group
This Advanced Wound Care market report holds answers to some important questions like:
- What is the size of occupied by the prominent leaders for the forecast period, 2019 to 2030? What will be the share and the growth rate of the Advanced Wound Care market during the forecast period?
- What are the future prospects for the Advanced Wound Care industry in the coming years?
- Which trends are likely to contribute to the development rate of the industry during the forecast period, 2019 to 2030?
- What are the future prospects of the Advanced Wound Care industry for the forecast period, 2019 to 2030?
- Which countries are expected to grow at the fastest rate?
- Which factors have attributed to an increased sale worldwide?
- What is the present status of competitive development?
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