Market Research Report
Infectious Wound Care Management Market - Growth, Trends, and Forecast (2019 - 2024)
|Published by||Mordor Intelligence LLP||Product code||802339|
|Published||Content info||117 Pages
Delivery time: 2-3 business days
|Infectious Wound Care Management Market - Growth, Trends, and Forecast (2019 - 2024)|
|Published: March 1, 2019||Content info: 117 Pages||
The growth of the market studied can be attributed to the increasing global geriatric population. As the population is increasing, age-related diseases are on the rise, thereby bolstering the demand for wound care management products. The current market is also growing due to the increasing prevalence of diabetes and rise in number of the accidents and burns. These factors are fueling the growth of the market studied. Due to the product innovations in the recent years, the market studied has been growing profitably worldwide.
The global infectious wound care management market (henceforth referred to as the market studied) involves the various products that help in healing and preventing infections. Wound care and closure and advanced wound care and closure products are used to treat acute and chronic wounds. Wound therapies have steadily advanced, to treat the patients more effectively and comprehensively. Over the next few years, the demand for wound care products is expected to increase significantly, particularly in the emerging economies.
Diabetes Mellitus Segment is Expected to exhibit Fastest Growth Rate Over the Forecast Period
Diabetic wounds are of three types: neuropathic, ischemic, and neuroischemic. Knowing the distinct features of each wound category is essential for identifying wound progression, infection, and healing. Failure in properly identifying the type of wound can lead to an ineffective diabetic wound treatment plan, causing long-term complications or amputation.
Infections are the main concern in any diabetic wound treatment plan. Due to the high morbidity and mortality rates associated with diabetic wounds, more aggressive forms of infection control are necessary. Both oral and topical antibiotics are recommended for all diabetic wound treatment patients who indicate signs of infection. A diabetes wound patient must be treated holistically, to reduce the risk factors that cause wounds. Achieving control over diabetes is difficult but essential, especially in terms of blood glucose levels, proper nutrition, high blood pressure, and smoking cessation.
North America captured the Largest Market Share and is expected to retain its Dominance
North America dominated the overall Infectious wound care management market, with the United States accounting for the major contribution to the same. The US segment of the market studied is the most progressive and lucrative in the world, with unconventional practices, products, and world-class clinicians.
According to the National Institutes of Health, human skin wound is a significant indirect threat to the US economy, as the government takes responsibility for the treatment of the public. This has prompted the government to invest significant amounts of money toward developing effective treatment methods. Research in the United States has revealed that the incidence of non-healing cutaneous wounds is about USD 5-7 million per year, in the country. The relative expenditure for these wounds is about USD 25 billion.
Competition among the existing players is high and price pressure has been increasing among the vendors. Despite the high number of market participants, the majority of the market share is controlled by a handful of participants. The presence of a significant number of players in the market studied has an impact on the prices of products by firms, such as Bristol-Myers Squibb Company, Cardinal Health Inc., Sanofi, Smith & Nephew, and 3M, among others.