The Research report sales, import, export and revenue figures are also developing in the forecast period to 2023. The key players and brands are making their moves by product launches, researches, their joint ventures, merges, and accusations and are getting successful results.
Wound Care Management Devices market report describes the development of the industry by overall Challenging & Sub sequential industry development, key companies, as well as type segment & market application and so on, and makes an authentic Forecast for the development industry prospects on the basis of analysis. finally, Wound Care Management Devices Market analyses opportunities for investment in the industry at the end of the report.
Wound Care Management Devices Market Report gives strategists, advertisers and senior administration with the basic data they have to evaluate the Global Wound Care Management Devices Market. Alongside deliberately breaking down the key small scale Market, the report likewise centres around industry-particular drivers, restrictions, openings and difficulties in the Wound Care Management Devices market. This examination report offers top to bottom investigation of the market measure (income), piece of the overall industry, real market portions, and diverse geographic locales, gauge for the following five years, key market players, and premium industry patterns. It likewise centres around the key drivers, restrictions, openings and difficulties.
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The global wound care management devices market is expected to register a CAGR of 7.25% during the forecast period 2018 to 2023. With more than 37% of the market share, North America is expected to dominate the market in the forecast period this is due to increasing incidences of chronic wounds along with favorable reimbursement policies in this region.
Number of Chronic Wounds, Ulcers and Diabetic Ulcers
According to NCBI, more than 9.3 percent of United States population which is estimated around 29.1 million people, is affected by diabetes. In adults who are aged over 65 years, the percent of population suffering with diabetes is more than 25 percent. The incidence of chronic wounds especially foot ulcers increases among the diabetic population. While more than 80,000 adults are expected to undergo a lower extremity amputation, It is also estimated that patient with diabetes are 10 times more likely to undergo amputation at some point in their life. The number of diabetes patients are expected to increase with increasing geriatric population which in turn will drive the market for wound care management in the forecast period. In addition, increase in surgical procedures worldwide along with increasing ageing population is also fuelling the growth of wound care management devices market.
High Treatment Costs
Wound care management is associated with high costs due to which it has a low adoption rate. According to a breakdown of wound costs provided by Smith & Nephew, 15-20% are material costs, 30-35% are nurse costs and more than 50% are hospitalization costs. Since, the hospitalization in necessary until the wound is dried, the high hospitalization costs is hindering the advance wound care management market globally. Additionally, lack of reimbursement policies all over the world is also responsible for hindering the growth of market.
North America to Dominate the Market
The Wound Care Management Devices market is segmented by product type, wound type, and geography. By geography it is segmented into North America, Europe, Asia-Pacific, the Middle East and Africa and South America. North America dominates the advance wound care management market due to increasing incidences of chronic wounds, favorable reimbursement policies and rise in geriatric population. Europe is also expected to boost the growth of advance wound care management market due to increasing awareness of wound care management among geriatric population. Factors such as increasing accessibility to healthcare facilities in the region, rising medical tourism, and increasing prevalence of chronic diseases are also expected to contribute to the growth of market in this region.
Key Developments in the Market
• December 2017: Smith & Nephew announced European launch of MolecuLight i:X, which is a handheld imaging device that can be used to instantly measure wound surface area and visualize the presence of potentially harmful bacteria in it.
Key players: J&J, KCI OWNED BY ACELITY, SMITH & NEPHEW, 3M COMPANY, CONVATEC, MEDTRONIC/COVIDIEN, BAXTER INTERNATIONAL, BEIERSDORF, COLOPLAST, DERMA SCIENCES and MOLNLYCKE HEALTH CARE.
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• Market analysis for the Global Wound Care Management Devices Market, with region-specific assessments and competition analysis on a global and regional scale.• Analyzing various perspectives of the industry with the help of Porterâ€s five forces analysis.• The treatment type that is expected to dominate the market.• Regions that are expected to witness fastest growth during the forecast period• Identify the latest developments, market shares and strategies employed by the major market players.• 3 months analyst support along with the Market Estimate sheet in excel.
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Wound Care Management Devices Market Forecast 2018-2023
The Wound Care Management Devices industry research report analyses the supply, sales, production, and market status comprehensively. Production market shares and sales market shares are analysed along with the study of capacity, production, sales, and revenue. Several other factors such as import, export, gross margin, price, cost, and consumption are also analysed under the section Analysis of Wound Care Management Devices production, supply, sales and market status.
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