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North America Wound Care Management Market - Growth, Trends, and Forecasts (2020 - 2025)
The North America Wound Care Management Market is Segmented by Product (Wound Care, Wound Closure), Wound Type, and Geography
- ABOUT THIS REPORT
- Market Snapshot
- Market Overview
- Scope of the Report
- Key Market Trends
- Competitive Landscape
- Major Players
- TABLE OF CONTENTS
Market Snapshot
Study Period:
2017-2025
Base Year:
2019
CAGR:
5.5 %
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Market Overview
The key factors propelling the wound care management device market include an increase in chronic wounds and ulcers, rising incidence of diabetes, aging population, increasing awareness about new technologies for wound care, and government support in the form of funding.
According to the National Diabetes Statistics Report, 2020, there are around 34.2 million people are living with diabetes . The incidence of chronic wounds, especially foot ulcers, is increasing among the diabetic population and a substantial share of the population undergo a lower extremity amputation. It is also estimated that patients with diabetes are 10 times more likely to undergo amputation at some point in their life.
However, the major restraints of the market are the high cost of technically superior products for wound care and lack of proper reimbursement policies.
Scope of the Report
Wounds are being classified as acute and chronic. There are traditional and advanced wound care and closure products for their treatment. Chronic wounds are the wounds that are hard to heal, take substantial time to heal, and are expensive to treat. Advanced wound care and closure products are emerging as a standard solution for treating chronic wounds. Many players in this industry are trying to enlarge their product portfolio in order to top this Industry. The top companies are acquiring other companies in this industry as their strategy to dominate this market. North America Wound Care Management Market is segmented By Product, By Wound Type and Country.
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Key Market Trends
Dressing Segment is Expected to Exhibit Fastest Growth Rate over the Forecast Period
- Dressing segment market is expected to show a lucrative growth in the Wound Care Management Market.
- Foam has a significant role in the clinical management of chronic wounds and in moist wound healing.
- Over the past 30 years, polyurethane foam has become one of the most commonly used wound dressings for exudate management in moist wound healing. The foam consists of a porous structure that is able to absorb fluids into air-filled spaces by capillary action.
- The most commonly used foam is polyurethane. Silicone foam is less frequently used as a primary absorbent in wound dressing but often is applied as an adhesive wound-contact layer.
- Choosing a foam to match the wound is complex, and depends on the underlying basic characteristics of the patient’s wound. The ability of a given foam to maintain the optimal level of moisture in the wound bed should be evaluated continuously, in order to avoid complications from a mismatch of absorptive capacity to exudate production.
- As evident from the above-mentioned application of foam dressing, its importance is indispensable. However, it has its disadvantages. Overall, the segment for foam dressing in North America advanced wound care management market is likely to grow during the forecast period, recording a high growth rate, however, not as high as other product categories, like negative pressure therapy systems.
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Competitive Landscape
The presence of a significant number of players in the market studied has an impact on the prices of products by firms, such as 3M Company, Baxter International, Ethicon Inc., Integra LifeSciences, and Smith & Nephew among others. There is a sustainable competitive advantage through innovation for all companies. The companies are continuously focusing on innovations through research and development. Moreover, these companies are applying powerful competitive strategies, in order to gain more market share in the studied market.
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Table Of Contents
1. INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increase in the Geriatric Population
4.2.2 Rising Incidences of Chronic Wound
4.3 Market Restraints
4.3.1 High-cost Procedures and Lack of Proper Reimbursements
4.4 Porters Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Product
5.1.1 Wound Care
5.1.1.1 Dressing
5.1.1.2 Bandages
5.1.1.3 Topical Agents
5.1.1.4 Wound Care Devices
5.1.2 Wound Closure
5.1.2.1 Suture
5.1.2.2 Surgical Staplers
5.1.2.3 Tissue Adhesive, Sealants and Glue
5.2 By Wound Type
5.2.1 Chronic Wound
5.2.1.1 Diabetic Foot Ulcer
5.2.1.2 Pressure Ulcer
5.2.1.3 Arterial and Venous Ulcer
5.2.1.4 Others
5.2.2 Acute Wound
5.2.2.1 Surgical Wounds
5.2.2.2 Burns
5.2.2.3 Others
5.3 Country
5.3.1 United States
5.3.2 Canada
5.3.3 Mexico
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 3M Company
6.1.2 Baxter International
6.1.3 Coloplast
6.1.4 ConvaTec Group PLC
6.1.5 Hollister Incorporated
6.1.6 Integra LifeSciences
6.1.7 Johnson & Johnson
6.1.8 Molnlycke Health Care
6.1.9 Smith + Nephew
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
*List Not Exhaustive
**Competitive Landscape covers- Business Overview, Financials, Products and Strategies and Recent Developments
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