The Europe Wound Management Market was valued at USD 2.22 billion in 2016 and is projected to reach USD 3.16 billion by 2021, at a CAGR of 7.30% during the forecast period from 2016 to 2021. Traditional wound care & closure and advanced wound care & closure products are used to treat acute and chronic wounds. Chronic wounds are hard-to-heal wounds, which take a substantial amount of time to heal and are expensive to treat. Advanced wound care & closure products are emerging as a standard solution for treating chronic wounds. Traditional wound care & closure products are increasingly substituted with advanced wound care & closure products due to their efficacy and efficiency in managing wounds by enabling faster-healing.
The Europe wound care management market is segmented into different categories, which are on the basis of type of wound, application basis, end user segment, and geography. The wound market on the basis of type of wound can be divided into sectors, such as advanced wound closure and advanced wound care. The applications are epidemiology, burns, ulcers, surgical wounds, and others. The end user segments are hospitals and home health care. Geographically, the market analysis is done for the U.K., France, Germany, and Spain.
Attempts to reduce the duration of hospital stays to limit surgical healthcare costs and the rising inclination towards products that enhance therapeutic outcomes are driving the demand for advanced wound care & closure products. The risks associated with ineffective wound healing promote the demand for combination dressings, which is a modern trend in the market that is replacing traditional wound dressing methods.
The major market drivers are the increase in the aging population, rise in the chronic diseases, technological advancements, government initiatives, and increase in surgical procedures.
However, the market is constrained by challenges, such as costly procedures and lack of proper reimbursements.
The major players in this market are Covidien, Coloplast, Smith & Nephews, and Mölnlycke Health Care AB.
Key Deliverables in the Study: