North America Wound Care Management Market - Industry Analysis and Market Forecast (2016 - 2021)

North America wound management market was valued at USD 4.48 billion in 2016 and is expected to reach a value of USD 6.48 billion by 2021, growing at a CAGR of 7.63%.   

Traditional and advanced wound care & closure products are used to treat acute and chronic wounds. Chronic wounds are the wounds that are hard to heal, take substantial 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 being increasingly substituted with advanced wound care & closure products due to their efficacy and effectiveness in managing wounds by enabling faster healing.

Attempts to reduce the duration of hospital stays in order 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 and is replacing traditional wound dressing methods.

North America Wound Management Market- Market Dynamics

The report details several factors driving and restraining the market. Some of these are listed below.

Drivers

• Increase in aging population
• Rise in the chronic diseases
• Technological advancements
• Government initiatives
• Increase in surgical procedures

Restraints

• High cost of procedures
• Lack of proper reimbursements
• Reluctance in acceptance of new technologies

The wound care management market is segmented on the basis of the type of wound, application basis, end-user segment and on the basis of geography.

• On the basis of the type of wound, the market is segmented into advanced wound closure and advanced wound care.
• On the basis of applications, the market is segmented into epidemiology, burns, ulcers, surgical wounds and others.
• On the basis of end user segment, the market is segmented into hospitals and home healthcare.
• On the basis of geography, the market is segmented into the US, Canada, and Mexico.

Some of the key players in the market are:

• 3M Company
• Baxter International
• Convatech
• Derma Sciences
• Integra LifeSciences
• Kinetic Concepts

Key Deliverables in the Study

• Market analysis for the North America wound care management market, with region-specific assessments and competition analysis on the global and regional scale.
• Market definition along with the identification of key drivers and restraints.
• Identification of factors instrumental in changing the market scenario, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale.
• Extensively researched competitive landscape section with profiles of major companies along with their market share.
• Identification and analysis of the macro and micro factors that affect the market on both global and regional scale.
• A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
• A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market.
• Insights on the major countries/regions where this industry is blooming and to also identify the regions that are still untapped.