Global Wound Care Management Devices Market | Growth, Trends and Forecasts (2018-2023)
Global Wound Care Management Device Market - Segmented by Type of Product, End User, and Geography - Growth, Trends, and Forecasts (2019 - 2024)

PUBLISHED

MAR 2018

Global Wound Care Management Device Market - Segmented by Type of Product, End User, and Geography - Growth, Trends, and Forecasts (2019 - 2024)

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The global wound care management device market is expected to register a CAGR of 7.25% during the forecast period (2018-2023). With more than 37% share of the market, North America is expected to dominate the market in the forecast period. This is due to increasing incidences of chronic wounds, along with favorable reimbursement policies in the region.

Number of Chronic Wounds, Ulcers, and Diabetic Ulcers

According to NCBI, more than 9.3% of the US population, estimated to be around 29.1 million people, is affected by diabetes. In adults who are aged over 65 years, the percent of population suffering from diabetes is more than 25%. The incidence of chronic wounds, especially foot ulcers, increases among the diabetic population. While more than 80,000 adults are expected to undergo a lower extremity amputation, it is also estimated that patient with diabetes are 10 times more likely to undergo amputation at some point in their life. The number of diabetes patients are expected to increase with increasing geriatric population, which, in turn, will drive the market for wound care management over the forecast period. In addition, increase in surgical procedures across the world, along with increasing ageing population, is also fuelling the growth of the wound care management device market.

High Treatment Costs

Wound care management is associated with high costs, due to which it has low adoption rate. According to a breakdown of wound costs provided by Smith & Nephew, 15-20% is material cost, 30-35% is nursing cost, and more than 50% is hospitalization cost. Since hospitalization is necessary until the wound is dried, the high hospitalization cost is hindering the wound care management market globally. Additionally, lack of reimbursement policies all over the world is also responsible for hindering the growth of the market.

North America to Dominate the Market

The wound care management device market is segmented by product type, wound type, and geography. By geography, it is segmented into North America, Europe, Asia-Pacific, the Middle East & Africa, and South America. North America dominates the wound care management market, due to increasing incidence of chronic wounds, favorable reimbursement policies, and rise in the geriatric population. Europe is also expected to boost the growth of the wound care management market, due to increasing awareness about wound care management among the geriatric population. Factors like increasing accessibility to healthcare facilities in the region, rising medical tourism, and increasing prevalence of chronic diseases are also expected to contribute to the growth of the market in the region.

Key Developments in the Market

  • December 2017: Smith & Nephew announced the European launch of MolecuLight i:X, which is a handheld imaging device that can be used to instantly measure wound surface area and visualize the presence of potentially harmful bacteria in it.

Key players: J&J, KCI Owned by Acelity, Smith &Nephew, 3M Company, Convatec, Medtronic/Covidien, Baxter International, Beiersdorf, Coloplast, Derma Sciences, and Molnlycke Health Care, among others.

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To know more about:

  • Analysis of the global wound care management device market, with region-specific assessments and competition analysis on a global and regional scale
  • Analyzing various perspectives on the industry, with the help of Porter’s five forces analysis
  • The treatment type that is expected to dominate the market
  • The regions that are expected to witness the fastest growth during the forecast period
  • Identify the latest developments, market shares, and strategies employed by the major market players
  • Three-month analyst support, along with the Market Estimate sheet in Excel

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1. Introduction

                1.1 Market Definition

2. Research Methodology

3. Executive Summary

4. Key Inferences

5. Market Overview

                5.1 Current Market Scenario

                5.2 Porter’s Five Forces

                                5.2.1 Bargaining Power of Suppliers

                                5.2.2 Bargaining Power of Consumers

                                5.2.3 Threats of New Entrants

                                5.2.4 Threat of Substitute Product and Services

                                5.2.5 Competitive Rivalry within the Industry

6. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)

                6.1 Drivers

                                6.1.1 Increasing Demand for Faster Recovery of Wounds

                                6.1.2 Increasing Incidences of Chronic Wound

                                6.1.3 Increase in Surgeries

                                6.1.4 Increase in Aging Population

                6.2 Restraints

                                6.2.1 High Cost Procedures

                                6.2.2 Lack of Proper Reimbursements

                                6.2.3 Reluctance in Acceptance of New Technologies

                6.3 Opportunities

                6.4 Key Challenges

7. Market Segmentation

                7.1 By Product

                                7.1.1 Advanced Wound Management Product

                                                7.1.1.1 Advanced Wound Dressing

                                                                7.1.1.1.1 Foam Dressing

                                                                7.1.1.1.2 Hydrocolloid Dressing

                                                                7.1.1.1.3 Film Dressing

                                                                7.1.1.1.4 Alginate Dressing

                                                                7.1.1.1.5 Hydrogel Dressing

                                                                7.1.1.1.6 Other Advanced Dressing

                                                7.1.1.2 Wound Therapy Device

                                                                7.1.1.2.1 Pressure Relief Device

                                                                7.1.1.2.2 Negative Pressure Wound Therapy (NPWT) System

                                                                                7.1.1.2.2.1 Conventional NPWT System

                                                                                7.1.1.2.2.2 Disposable NPWT System

                                                                7.1.1.2.3 Oxygen and Hyperbaric Oxygen Equipment

                                                                7.1.1.2.4 Electrical Stimulation Device

                                                                7.1.1.2.5 Other Therapy Devices

                                                7.1.1.3 Surgical Wound Care Product

                                                                7.1.1.3.1 Suture and Staple

                                                                7.1.1.3.2 Tissue Adhesive, Sealant, and Glue

                7.2 By End User

                                7.2.1 Hospital and Specialty Wound Clinic

                                7.2.2 Long-Term Care Facility

                7.3 By Geography

                                7.3.1 North America

                                                7.3.1.1 United States

                                                7.3.1.2 Canada

                                                7.3.1.3 Mexico

                                7.3.2 Europe

                                                7.3.2.1 France

                                                7.3.2.2 United Kingdom

                                                7.3.2.3 Germany

                                                7.3.2.4 Italy

                                                7.3.2.5 Spain

                                                7.3.2.6 Rest of Europe

                                7.3.3 Asia-Pacific

                                                7.3.3.1 India

                                                7.3.3.2 China

                                                7.3.3.3 Japan

                                                7.3.3.4 Australia

                                                7.3.3.5 South Korea

                                                7.3.3.6 Rest of APAC

                                7.3.4 Middle East & Africa

                                                7.3.4.1 GCC

                                                7.3.4.2 South Africa

                                                7.3.4.3 Rest of Middle East & Africa

                                7.3.5 South America

                                                7.3.5.1 Brazil

                                                7.3.5.2 Argentina

                                                7.3.5.3 Rest of South America

8. Competitive Landscape

                8.1 Mergers and Acquisitions

                8.2 Agreements, Collaborations, and Partnerships

                8.3 New Product Launches

9. Key Players

                9.1 J&J

                9.2 KCI Owned by Acelity

                9.3 3M

                9.4 Smith &Nephew

                9.5 Convatec

                9.6 Medtronic/Covidien

                9.7 Beiersdorf

                9.8 Coloplast

                9.9 Derma Sciences

                9.10 Molnlycke Health Care

                9.11 Others

10. Future of the Market

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