Published Date: 20-Aug-2020
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According to a new report Global Wound Management Devices Market, published by KBV research, The Global Wound Management Devices Market size is expected to reach $21.6 billion by 2026, rising at a market growth of 7.2% CAGR during the forecast period. Factors responsible for the growth of the market include a surge in the geriatric population across the globe as such populations mostly suffer from a slower wound healing process, thereby affecting the phases of natural wound healing. As the population around the globe is growing at an unprecedented rate so it is anticipated to drive the growth of wound care products.
Currently, the hospitals & clinics segment accounted for the majority of the share and is projected to expand at the fast growth in the forecast period. These segments are focusing on healthcare facilities to enhance patient satisfaction, enhance the quality of care, and increase the productivity of caregivers.
As the frequency of burn cases is increasing, it is anticipated that the burning segment will drive growth in wound management. The main reason for the burnt injuries is due to flames, steams, or agents such as chemicals, tar, and electricity. Even the diabetic foot ulcer segment is expected to increase at a substantial CAGR during the forecast period due to expanding the diabetic patient pool and them being more prone to foot ulcers.
Due to the increase in the number of chronic wounds, favorable reimbursement policies, and the rise in the aging population, it is anticipated that North America will dominate the wound care management market. Diabetes is the leading cause of non-traumatic lower extremity amputations in the United States and expected that some number of patients with foot ulcers require an amputation. However, Asia-Pacific is anticipated to witness exponential growth. This growth is largely influenced by the progress of the market in Japan, China, and India. In addition, there are few factors like increasing focus of industries in the developing Asian countries, and government support is expected to drive the highest growth of the wound care management device market in this region.
Structural Insights: https://www.kbvresearch.com/wound-management-devices-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Baxter International, Inc., Coloplast Group, ConvaTec Group PLC, Integra LifeSciences Holdings Corporation (Derma Sciences, Inc.), Johnson and Johnson, 3M Company, Medtronic PLC, Smith & Nephew PLC, Hollister, Inc., and Molnlycke Health Care AB.
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