The Advanced Wound Care Market report published by Market Data Forecast provides a detailed account of the Market Trends via Customized Research presented as Strategic Analyses, Company Profiles, Competitive Landscape, etc. According to the report the Advanced Wound Care Market is estimated to be $8.25 USD million in 2015 and predicted to rise to $10.08 USD million by 2020 with a CAGR of 4.1%. The market is segmented by application (surgical wounds, skin ulcers and burn wounds), by type (therapy devices, dressing and active wound care) and by end users (inpatient services and outpatient services). Further the market is also geographically segmented into North America, Europe, Asia Pacific, Latin America and Middle-East & Africa.
Increasing incidences of diabetes cases benefits the wound care market as a wound for a diabetic patient requires complete treatment from professionals. Inclination towards advanced wound care practices is observed in order to reduce the surgical expenses and stay at hospitals. Other factors driving the market are ineffective existing wound healing practices, initiatives taken by government, safe treatment for chronic wounds, rise in aging population and technological advancements. Few restraints associated with the wound care market are high cost of treatment and reimbursement issues for the new technologies.
Based on application surgical wounds segment is leading the market and skin ulcer is the fastest growing sector due to the ever increasing skin problems. While differentiating by type dressing segment is the largest sector as the number of accidents are increasing at a very rapid rate. Active wound care accounts for the fastest growth under this category. Looking upon end users category, outpatient services are estimated to grow at a high growth rate.
North America holds the largest market globally followed by Europe and Asia Pacific. For the population in this region are inclined towards trending technology with efficient solutions and easily accessible. The advancement is more favored by aged population who require instant and user friendly solutions. Asia Pacific market is expanding at a high rate with fast developing economies like India and China. The region provides Opportunities for new product launch, but lack of awareness can hinder the growth of the market.
Key players in the Advanced Wound Care Market are Organogenesis inc., Smith and Nephew Plc., Coloplast Corp., Medtronic, Acelity L.P., Medline Industries Inc., Conva Tec. Inc., MPM Medical Inc and 3M Health Care.
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