About Wound Management Products
Wound management products are designed to treat acute and chronic wounds. Chronic wounds take longer to heal and are expensive to treat. Wound care is becoming a standard solution for the treatment of chronic wounds. Because of their efficiency and effectiveness in wound care, traditional wound care products are increasingly being replaced by advanced wound care products that enable faster healing. In addition, they help maintain a hydrated environment, maintain a constant temperature, allow the flow of oxygen, protect the injured area from exogenous infections, and relieve the pain associated with dressing changes. Wound management products include hydrocolloids, hydrogels, film and foam dressings, alginates, and others. In addition, the COVID-19 pandemic has had a negative impact on the global advanced wound care market. Many companies in the advanced wound care market are being forced to shut down their manufacturing and manufacturing operations due to the spread of the virus. In addition, business operations have been suspended due to new government decisions that have a direct impact on the revenue drift of the advanced wound care market.
Attributes | Details |
---|
Study Period | 2017-2027 |
Base Year | 2021 |
Unit | Value (USD Million) |
The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products, and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Wound Management Products market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
3M (United States), Abigo Medical AB (Sweden), Acelity LP, Inc. (United States), Amniox Medical, Inc. (United States), Angelini S.p.a. (Italy), Anika Therapeutics, Inc. (United States), B. Braun Melsungen AG (Germany), BioLargo, Inc. (United States), BioMonde (United Kingdom), Cardinal Health (United States), Celularity (United States), Cenorin LLC (United States), Coloplast Group (Denmark), ConvaTec Group PLC (United Kingdom) and Cook Biotech, Inc. (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Covalon Technologies, Ltd. (Canada), Crawford Healthcare, Ltd. (United Kingdom) and Derma Sciences, Inc. (United States).
Segmentation Overview
AMA Research has segmented the market of Global Wound Management Products market by Type (Adhesive Dressings, Gauze, Non-Adherent Dressings, Hydrogels and Wound Therapy Devices), Application (Hospitals, Specialty Clinics, Home Healthcare and Others) and Region.
On the basis of geography, the market of Wound Management Products has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Distribution Channel, the sub-segment i.e. Online will boost the Wound Management Products market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Wound Type, the sub-segment i.e. Diabetic Foot Ulcers will boost the Wound Management Products market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Leaders and their expansionary development strategies
In May 2019, 3M Co. acquired Acelity Inc. with an amount of USD 6.7 billion. This acquisition is beneficial in providing advanced wound care technologies and solutions and an excellent complement to the health care business.
“According to Food and Drug Administration (FDA) and, it’s denoted that, the Center for Devices and Radiological Health (CDRH) regulated the device does not contain antimicrobial agents that act on the body and that the guidance is not applicable for those products in which the pDADMAC leaches from the substrate. Leach ability testing is required to be submitted in the 510(k) notice for these devices to demonstrate that the drug does not leach onto the patient”.
Market Drivers
- The Increasing Number of Accidents
- Increasing Number of Surgical Procedures
- Focus Existing On Quality and Fast Healing
- Rise in Awareness among the Patients towards Personal Hygiene
Opportunities
- Increase in Healthcare Expenditure
- Expansion of the Healthcare Infrastructure, And Vast Patient Pool
Restraints
- Increasing Substitution With Advanced Wound Management Products
- Adverse Effect on Skin Due to the Product
Challenges
- Regular Maintenance of Sterilization Challenges
Key Target Audience
Manufacturers of Wound Management Products, Suppliers and Distributors of Wound Management Products, End-Users, Potential Investors, Market Research Firms and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have the better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with purpose to understand companys positioning regarding market value, volume and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders etc. and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.