Wound Care Management Devices Market

SKU: DMMD208 | Last Updated On: Sep 24 2022 | Available Formats

>Wound Care Management Devices Market Expected to reach a high CAGR of 6% By 2029

Wound Care Management Devices Market is segmented By Product (Advanced Wound Closure, Advanced Wound Care, Others), By Application (Cardiology, Dermatology, Gastroenterology, Infectious Devices, Neurology, Pediatrics, Surgery), By End-User (Hospitals and Community Health Services, Home Healthcare), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029. Wound Care Management Devices Market Size, Share, Growth, and Trends Outlook

Wound Care Management Devices Market is estimated to reach growing at a CAGR of 6% during the forecast period (2022-2029). Wound management products are majorly used to treat complex wounds. Wounds and injuries are common afflictions that affect billions of people worldwide. The products are highly resistant to environmental inhibitors and foreign particles and are used by a nurse under the physician’s orders and supervision for many reasons. Therefore, the rising risk factors and the need for cost-efficient treatments drive better-wound care products.

The Wound Care Management Devices Market study analysis offers an in-depth outlook on the market containing both quantitative, and qualitative data. It gives an outlook and forecast of the global market based on the Wound Care Management Devices Market segmentation by product, application, and end user. It also provides Wound Care Management Devices Market size, and growth, along with the latest trends, opportunities, and forecast till 2029 for the global Wound Care Management Devices Market with esteem to major countries such as the United States, Canada, Brazil, Germany, Italy, Spain, United Kingdom, Russia, European countries, United Arab Emirates, Saudi Arabia, South Africa, Japan, China, India, South Korea, Australia, and rest of the countries over the globe.

Wound Care Management Devices Market Growth Drivers

The global wound care management devices market growth is driven by the increase in the aging population, the rise in chronic wounds, ulcers, diabetic ulcers, and technological advancements. Moreover, advancements in wound care technology are driving the wound care management devices market that provides better treatment for patients and elderly clients.

The growing prevalence of diseases & conditions affecting wound healing capabilities is expected to drive the growth in the forecast period.

The prevalence of acute, chronic, and surgical wounds has increased significantly over the past decade, primarily due to the growing global geriatric population, rising traumatic wounds, increasing number of surgeries, and the increasing prevalence of conditions like obesity and diabetes. Diabetes and obesity can increase the overall incidence and complexity of wounds such as infections, ulcerations (leg or foot ulcers), and chronic wounds, which require treatments (wound management) and incur exorbitant medical expenses.

Diabetes is a major wound-causing disease along with other chronic diseases. In adults over 65 years, the population suffering from diabetes is more than 25%. The incidence of chronic wounds, especially foot ulcers, is increasing among the diabetic population. Moreover, as per Germany Federal Statistical Office 2020 report, there is about 83 million population in Germany. Of these, 16.2 million people are above 67 years of age, which is projected to reach 21.4 million in 2040. As the elderly population is expected to increase shortly and are more prone to chronic diseases like diabetes, this population is expected to experience diabetic foot ulcers shortly, which is expected to impact the market positively.​ Further, the increase in product launches is expected to propel market growth. For instance, In February 2020, Integra LifeSciences Holdings Corporation (Sweden) launched AmnioExcel Plus Placental Allograft Membrane.

The high cost of advanced wound care products is expected to hamper the market growth.

The high cost of chronic wound treatments and advanced wound care products may negatively affect their adoption, especially in cost-sensitive markets such as Asia and the RoW. Patients and physicians in these regions opt for less-expensive wound care products. Although many bioengineered dressings are available in these markets, physicians and patients tend to opt for traditional and basic wound care products due to their low costs.

Industry Analysis

The wound care management devices market provides in-depth analysis of the market based on various industry factors such as unmet needs, pricing analysis, supply chain and regulatory analysis etc.

Wound Care Management Devices Market Segmentation Analysis

The surgical staplers segment is expected to hold the largest share in this market segment.

Surgical staplers are specialized medical staplers that can be used as an alternative to sutures for wound closure. They can be used during minimally invasive image-guided procedures. With the rise in demand for minimally invasive surgeries, the surgical staplers segment is expanding. Surgical staplers offer benefits, such as faster recovery, less pain, coagulation, and proper closure, especially in minimally invasive procedures. Various applications of surgical staplers include the areas of gynecology, abdominal surgeries, cardiothoracic and orthopedic surgeries, etc. For instance, As per the Government of Canada Statistics report, Between 2016 and 2021, the number of Canadians aged 85 and over increased by 12%, more than double the rate of growth recorded in the entire Canadian population (+5.2%). Nonetheless, approximately 861,000 people aged 85 and up were counted in the 2021 Census, accounting for 2.3% of the population. As a result, the centenarian population (those aged 100 and up) increased even faster.

Moreover, the aging of Canada’s population was influenced by the baby boomers who turned 65 in the last five years and increased life expectancy. As the older population is expected to grow in the near future, this population is more prone to diabetes which ultimately increases diabetic foot ulcers in the near future and shows a positive impact on the market.​ Thus, surgical staplers are expected to grow over the forecast period due to the above factors. 

Wound Care Management Devices Market Statistics

Metrics

Details

Market CAGR

6%

Segments Covered

By Product, By Application, By End-User, and By Region

Report Insights Covered

Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights.

Fastest Growing Region

Asia Pacific

Largest Market Share 

North America

COVID-19 Impact Analysis

The COVID-19 outbreak will impact the wound care market in the initial phase of the forecast period. Due to nationwide lockdowns, denied wound care services, canceled or postponed elective surgeries, and increasing skin injuries in COVID-19 medical care providers, the wound care market is expected to register a certain decline during the forecast period. However, during the latter half of the forecast period, the demand for wound care products is expected to rise drastically.

Wound Care-Management Devices Market Geographical Analysis

North America holds the largest market share of the global wound care management devices market.

North America dominates the wound care management market due to the increasing incidence of chronic wounds, favorable reimbursement policies, and the rise in the aging population. As per American Podiatric Medical Association (APMA) 2020, diabetes is the leading cause of non-traumatic lower extremity amputations in the United States. Approximately 14-24% of patients with foot ulcers require an amputation. According to a report published by International Diabetes Federation in 2021, the adult population aged 20-79 got affected by diabetes was 361 million and estimated to affect about 413 million Americans by 2045. Moreover, the total diabetes-related health expenditure in 2021 was 414.5 billion USD. Therefore, the rise in diabetic cases in the United States is likely to increase the country's prevalence of diabetic foot ulcers. Additionally, according to the National Highway Traffic Safety Administration, in 2021, NHTSA projects that an estimated 42,915 people died in motor vehicle traffic crashes last year, a 10.5% increase from the 38,824 fatalities in 2020. The statistics mentioned above indicate that the prevalence of diabetes is increasing, which may drive the market over the forecast period.

Wound Care-Management Devices Market Competitive Landscape

Major key players in the wound care management devices market are Johnston & Johnson Consumer Inc, 3M Company, Medtronic Plc, Smith & Nephew, ConvaTec Inc, B. Braun Melsungen AG, Coloplast Group, Integra LifeSciences, Cardinal Health, and Mölnlycke Health Care AB.

Integra LifeSciences:

Overview:

Integra LifeSciences, a world leader in medical devices, is dedicated to limiting uncertainty for surgeons, so they can concentrate on providing the best patient care. Integra offers innovative solutions in orthopedics, neurosurgery, and reconstructive and general surgery. Integra advanced wound care is focused on research and innovation for the management of acute or chronic wounds and burns.

­Product Portfolio:

It includes products like MEDIHONEY, AmnioExcel, AmnioMatrix, TCC-EZ, Omnigraft, PriMatrix/PriMatrix Ag, Xtrasorb, Bioguard, AlgicellAg.

  • AmnioExcelAmniotic Allograft Membrane is a tissue-based product derived from the human placenta gathered during post-healthy, scheduled c-sections of healthy donors.

Frequently Asked Questions

What is the Projected CAGR value of the Wound Care Management Devices Market?

Wound Care Management Devices Market is expected to grow at a CAGR of 6% during the forecasting period 2022-2029.

Which region controlled the global market during 2022-2029?

North America region Controls the Wound Care Management Devices Market during 2022-2029

Which is the fastest growing region in the Wound Care Management Devices Market?

Among all regions, Asia Pacific is the fastest growing market share during the forecast period 

The global wound care management devices market report would provide an access to an approx. 45+market data table, 40+figures and 180pages

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