With the presence of a large pool of participants, the global advanced wound care management market is displaying a highly competitive business landscape, finds a new research report by Zion Market Research (ZMR). Molnlycke Health Care, Medline Industries Inc., Coloplast A/S, and Smith & Nephew plc are some of the key vendors of advanced wound care management across the world. These players across advanced wound care management market are focusing aggressively on innovation, as well as on including advanced technologies in their existing products. Over the coming years, they are also expected to take up partnerships and mergers and acquisitions as their key strategy for business development, states the advanced wound care management market study.
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In a major event that could impact the advanced wound care management market revenue, on August 17th 2018, Avista Healthcare Public Acquisition Corporation, a special purpose acquisition firm, and Organogenesis Incorporation, a regenerative medicine organization mainly working on producing & commercialization products across advanced wound care sector, declared that they have signed a merger pact. Reportedly, as per the terms & conditions stated in the agreement the latter will become a completely owned unit of AHPAC.
As estimated in this report, the global advanced wound care management market stood at US$ 10.9 billion in 2016. Witnessing a tremendous rise during the period from 2017 to 2022, the revenue in this advanced wound care management market is expected to reach US$ 15.8 billion by the end of the forecast period. The main products available in this advanced wound care management market are advanced wound dressings, active wound care, and antimicrobial dressings.
Inflation In Surgeries & Chronic Ailments To Accelerate Market Accretion
“Rise in the number of surgeries and inflating occurrence of chronic disorders such as diabetes will boost the advanced wound care management market trends over the next few years,” says the author of this study. Apart from this, humungous requirement for treating chronic wounds to avoid severe complications such as amputation is likely to inspire the advanced wound care management products market demand in the years ahead.
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Huge escalations in the costs of medical treatments and reluctance of doctors & patients for accepting new treatment procedures can pose a threat to advanced wound care management market surge. Nevertheless, the grant allotted by the government to healthcare sector for focusing on quick healing is projected to play a vital role in shaping the growth of the advanced wound care management market, thereby normalizing the impact of hindrances on the advanced wound care management market, reports the study.
Enhanced Health Awareness In Patients To Drive North America’s Dominance
Regionally, North America has been leading the worldwide advanced wound care management market and is anticipated to continue on the dominant position in the years to come, states the market study. Escalating health consciousness among the patients suffering from vascular disorders and diabetes is the main factor behind the dominance of the North America advanced wound care management market. The high number of market players being headquartered in North America is another significant factor that is supporting this regional advanced wound care management market.
The global advanced wound care management market is segmented as follows:
- Advanced Wound Dressings
- Foam dressings
- Hydrocolloid dressings
- Hydrofiber dressings
- Film dressings
- Alginate dressings
- Hydrogel dressings
- Collagen dressings
- Active Wound Care
- Artificial skin and skin substitutes
- Growth Factors
- Antimicrobial dressing
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By Type of Wound
- Chronic Wounds
- Diabetic foot ulcers
- Pressure ulcer
- Venous leg ulcer
- Arterial Ulcer
- Acute Wounds
- Surgical and Traumatic wounds
By End User
- Home Healthcare
- Others (private nursing home, pharmacies)
- North America
- The U.S.
- Asia Pacific
- Latin America
- The Middle East and Africa