Need a report that reflects how COVID-19 has impacted this market and its growth?
The Sweden Wound Care Management Market is expected to register a CAGR of 6.72% over the forecast period.
The COVID-19 pandemic led to the occurrence of serious problems in all healthcare services around the world. The emergence of the COVID-19 pandemic has changed the delivery of medical care worldwide and so was affected in Sweden region. The increased pressure due to the growing rate of hospitalization of COVID-19 patients has led to the re-profiling of many hospitals and departments for treating patients with COVID-19. For instance, in May 2020 an article titled, “Preventing spread of SARS-CoV-2 and preparing for the COVID-19 outbreak in the surgical department: perspectives from two Scandinavian countries” reported that the COVID-19 pandemic severely affected the manner of delivery, duration, and quality of service regarding wound management and reduction in elective surgery has been performed to meet the need for increased capacity for COVID-19 patients. Due to the suspension of face-to-face contact times with patients, some diagnosis and treatment attempts were not performed and wound care services were suspended temporarily or permanently. However, the market gained significant traction as the COVID-19 cases were reduced and all hospital services were resumed.
The factors that are driving the market in Sweden are the growing burden of chronic wounds and surgical procedures, and the increase in the aging population in the region. The growing burden of chronic wounds and surgical procedures is increasing the demand for associated wound management products, thereby driving the market. For instance, in July 2021, an article titled, “Epidemiology of firearm injuries in Sweden” reported that a nationwide region study showed an annual increase in firearm-related injuries and fatalities, thereby increasing the demand for wound care management. The growing number of other surgical procedures such as orthopedic surgeries in the region is also fueling the market. For instance, in 2021 Swedish Orthopedic Institute reported that more than 6,000 surgeries are performed annually in the region.
The increase in the aging population in the region is increasing the demand for surgeries, thereby significantly driving the market. The Sweden statistics 2020 data reports that 309,000 more people aged 65 and older. The share of people aged 80 and older will increase most, and in 2028, their share is expected to be 255,000 more people than the present, an increase of 50%. Thus, a high geriatric population is driving the studied market in the region.
Thus, due to the aforesaid mentioned reasons, the market is expected to show significant growth over the forecast period. However, the stringent regulatory framework may slow down the market growth.
Scope of the report
As per the scope of the report, wound management products are majorly used to treat complex wounds. Wounds and injuries are common afflictions that affect many people. The products are highly resistant to environmental inhibitors and foreign particles and are used by a nurse under the physician’s orders and supervision, for many reasons. Sweden's wound care management market is segmented by Product Type (Wound Care (Dressings, Wound Care Devices, Topical Agents, and Others), Wound Closure (Suture, Surgical Staplers, Tissue Adhesive, Strips, Sealant, and Glue), Wound Type (Chronic Wound, Acute Wound)). The report offers the value (in USD million) for the above segments.
|By Wound Type|
Key Market Trends
Surgical Staples Segment is Expected to Show a Significant Growth Over a Forecast Period
Surgical staplers are used in surgical procedures for closing wounds, surgical incisions, and reconnecting tissues. The increasing number of surgical procedures, shifting preferences of people to minimally invasive procedures, and rising incidences of wounds are expected to increase the demand for surgical staplers. Growing adoption of surgical staplers especially in the region with the availability of technologically advanced product range owing to robust research and development programs of major industry players are fostering the market expansion. Furthermore, the increasing prevalence of cardiovascular diseases along with a rise in the geriatric population is contributing to the market progression.
An article published in April 2020 titled, “Cardiovascular Medicine in Sweden: Improvement by Continuous Measuring” reported that in the past 3 decades, an increasing number of nationwide healthcare quality registries focusing on specific disorders have been initiated, and annually 18,000 cases of myocardial infarctions are reported in the region. Thus, this indicates the fact that surgical staplers can become a potential preference in surgeries across the region. Also, the technological advancement in the region by the key players is boosting the market. For instance, in June 2022 Ethicon, part of Johnson & Johnson MedTech, launched the ECHELON 3000 Stapler, a digitally enabled device that provides surgeons with simple, one-handed powered articulation to help address the unique needs of their patients.
Thus, due to the aforesaid mentioned reasons, the segment is expected to show significant growth over the forecast period.
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Sweden wound care management market is fragmented in nature due to the presence of several operating companies in the market. The competitive landscape includes an analysis of a few international as well as local companies which hold the market shares and are well known as 3M Company, B. Braun Melsungen AG, Coloplast, ConvaTec Group PLC, Hollister Incorporated, Integra LifeSciences, Johnson & Johnson, Molnlycke Health Care, Smith & Nephew, and Medtronic Plc. The companies are focusing on growing their presence in the market through initiatives such as mergers, acquisitions, partnerships, and product development.
ConvaTec Group Plc
Johnson & Johnson
Smith & Nephew
- In September 2022, Arch Therapeutics, Inc. launched a multi-site clinical study to accelerate payor adoption and differentiate the key benefits of the AC5 Advanced Wound System (“AC5”) in treating challenging wounds.
- In September 2022, BioLab Sciences launched Dermistat, which emerged as the go-to wound healing option for wound care specialists and podiatrists. Dermistat is a revolutionary regenerative therapy that is transforming the wound care industry by significantly decreasing healing times.
Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Growing Burden of Chronic Wounds and Surgical Procedures
4.2.2 Increase in Aging Population
4.3 Market Restraints
4.3.1 Stringent Regulatory Framework
4.4 Porter's 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 (Market Size by Value - USD million)
5.1 By Product
5.1.1 Wound Care
184.108.40.206 Wound Care Devices
220.127.116.11 Topical Agents
5.1.2 Wound Closure
18.104.22.168 Surgical Staplers
22.214.171.124 Tissue Adhesive, Strips, Sealant, and Glue
5.2 By Wound Type
5.2.1 Chronic Wound
5.2.2 Acute Wound
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Company Profiles
6.1.1 3M Company
6.1.2 B. Braun Melsungen AG
6.1.4 ConvaTec Group PLC
6.1.5 Integra LifeSciences
6.1.6 Johnson & Johnson
6.1.7 Molnlycke Health Care
6.1.8 Medtronic Plc
6.1.9 Smith & Nephew
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Frequently Asked Questions
What is the study period of this market?
The Sweden Wound Care Management Market market is studied from 2019 - 2027.
What is the growth rate of Sweden Wound Care Management Market?
The Sweden Wound Care Management Market is growing at a CAGR of 6.72% over the next 5 years.
Who are the key players in Sweden Wound Care Management Market?
ConvaTec Group Plc, Johnson & Johnson, Smith & Nephew, Medtronic Plc, 3M are the major companies operating in Sweden Wound Care Management Market.