The report, titled “Global Advanced Wound Care Market Research Report 2021” offers essential insights into various critical parameters of the global advanced wound care market including its dynamics, geographical segmentation, key players, and competitive landscape. It serves as a reliable business tool for both new and existing players.
Advanced wound care is emerging as a standard solution for treating chronic wounds. The growing prevalence of chronic diseases such as diabetes and the increasing inclination towards products that improve the therapeutic outcomes are providing a significant boost to the growth of the market. As the aged people are more susceptible to chronic wounds, the rising geriatric population is, therefore, favoring the growth of the market. Conducive government initiatives and burgeoning surgical procedures are also augmenting the market.
On the other hand, the high cost of procedures is hampering the growth of the global market. The impact of this factor is exacerbated by the lack of proper reimbursement policies for advanced wound care products. Moreover, the reluctance in acceptance of novel technologies in emerging and under-developed countries is adversely affecting the growth of the global advance wound care market. However, rapid technological advancements and the growing popularity of combination dressings are paving way for tremendous growth opportunities for the market.
The key regional segments analyzed in the report are Europe, North America, Japan, China, Southeast Asia, and India. North America will account for a substantial share during the forecast period. The growth of the region is supplemented by the increasing incidence of acute and chronic wounds and growing geriatric population. Government initiatives and changing reimbursement policies are also backing the widespread adoption of advanced wound care products in the region.
In Europe, the much of the growth of the market can be attributed to the rapid advancements in the field of wound care management. The growth of the India and China market is stimulated by the increasing investments by prominent players in research and development activities. The high prevalence of diabetes plays a central role in the growth of the advanced wound care market in Southeast Asia. On the basis of product, the market is segmented into device-based advanced wound care, moist wound care, and wound care biologics. The increasing acceptance of biologics in the U.S. and other developed countries is fuelling the growth of the wound care biologics segment.
Players in the global advanced wound care market are focusing on implementing innovative and advanced features in their products in order to stand out in the market. Established players are acquiring small players to enhance their product portfolio and strengthen their market position. Some of the prominent players operating in the market are 3M, B. Braun Melsungen, Coloplast, ConvaTec, Covidien, C.R. Bard, Derma Sciences, Ethicon, Kinetic Concepts, Molnlycke Health Care, Paul Hartmann, and Smith & Nephew.
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