Advanced Wound Care Products Market

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ADVANCED WOUND CARE PRODUCTS MARKET:TRENDS ANALYSIS AND FORECASTS UP TO 2022 A Wound is generally defned as an injury to living tssue by a cut blow or other impact typically one in which the skin is broken. These wounds are basically classifed as chronic and acute. Among these acute wound in lasts for less than eight weeks in duraton and follows normal stag- es of wound healing whereas chronic wounds does not proceed through the normal healing stages. There are various factors which infuence the development of chron- ic wounds which includes age diabetes obesity cancer chemotherapy poor nutriton infecton chronic illness etc. The wound care market comprises two main segments namely traditonal wound dressings and advanced wound care products. Traditonal wound dressings are extensively used by healthcare professional partcularly under dry environment to protect wound from external factors. Ad- vanced wound care products are used by specialist profes- sionals to provide a therapeutc efect that supports wound healing. These wound dressings are used to treat serious problems such as chronic and complex wounds such as burns. Based on type of technology used in wound healing process these products are divided into moist wound care dressings biologics negatve pressure wound therapy and other therapeutc devices. Biologic wound care market is the emerging business segment in ad- vanced wound care market owing to the favorable reim- bursement policies in the US. These biologic wound care products include collagen dressings skin substtutes growth factors etc. The global market for advanced wound care products is valued at USD 5.5 billion in 2015 and is expected to reach around USD 9.4 billion by 2022 growing at a CAGR of 8.1 during the forecast period of 2016 to 2022. The principle driving factors fueling this market growth include rise in base of aging populaton decline in the chronic wounds treatment costs by reducing the hospital stays increasing awareness about the products favorable government reimbursement policies growing incidence of diabetes and technological advancements. However the high costs associated with these devices expected to deter the market growth. Geographically North America is leading contributor to the market and is expected to retain its positon during the forecast period. Nonetheless the market for Asia- Pacifc region is expected to grow at a faster rate owing to increasing prevalence chronic diseases growing aware- ness among the populaton increasing adopton of new technologies large number of new players entering into the market improving healthcare infrastructure rise in healthcare spending and favorable government policies. Companies profled: Smith Nephew Molnlycke Health Care ConvaTec 3M Health Care Coloplast Medtronic Covidien. Paul Hart- mann Braun Melsungen Acelity Medline Industries

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