Skin Tears Treatment Market 2022 Key Players, SWOT Analysis, Key Indicators and Forecast to 2029
Driven by promotional and educational programs conducted for increased awareness, skin tears treatment market is set to expand 1.4X during 2019 – 2029. Currently representing a US$ 400 Mn market, the global skin tears treatment landscape majorly relies on awareness through educational programs, for improved product sales. Manufacturers of skin tear treatment products are thus focusing on rising awareness levels about wound management through educational programs. Some manufacturers offer product selection criteria, whereas some companies provide these products along with the educational materials.
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- The U.S. is expected to be the prominent region in the skin tears treatment market primarily owing to increasing product adoption rate, rising awareness programs, presence of key players, and strong support from regulatory bodies in the country.
- Most manufactures focus their efforts towards increasing awareness and educate healthcare professionals towards the importance and use of skin tears treatment products.
- New skin tears treatment products such as hyaluronic acid wound devices and 2-Octyl Cyanoacrolate topical bandages are expected to gain more traction during the forecast period.
- Factors such as less awareness, dearth of skilled professionals for identifying and treating skin tears affect the adoption rate of products, thereby hindering market growth.
- Growing demand for advanced wound care in long-term care settings is expected to drive market growth.
- Increasing adoption of skin tear treatment products in long-term care settings in the U.S., Canada, Germany, and Japan will particularly assist the growth of skin tears treatment market.
Growing awareness, increasing efforts by governing bodies to design protocols, and increasing educational programs for healthcare professionals will shape adoption pattern in the near future. With the development of advanced technologies and introduction of dedicated product lines for skin tears treatment, the market will further witness increased uptake of products.
What Are the Winning Imperatives?
- Some of the key players offering skin tears treatment products include, 3M Health Care, Smith and Nephew Plc, ConvaTec Group Plc, Mölnlycke Health Care AB, Hollister Inc, BSN Medical GmbH (Essity AB), and Coloplast A/S.
- The skin tears treatment market is a consolidated market with top four players accounting for 70% of the market share.
- While most companies are working towards expanding their product reach, some companies are focused towards developing new products to penetrate and maintain a foothold in the market.
- For instance, Medline Industries is focused towards developing a stronger distribution network in the U.S. Manufacturers such as ConvaTec Group PLC., Mölnlycke Health Care, and Coloplast A/S have launched new products for skin tears treatment.
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With 28% revenue share in global market, growth prospects of skin tears treatment market in North America remain high. Greater emphasis on advanced healthcare facilities and strong presence of key players continue to influence this regional market. The former scenario has also been noticeable in East Asian countries, thereby compelling manufacturers to view these countries from a target market perspective.
East Asian market is projected to showcase promising growth, with China at the forefront. Initiatives such as wound care management programs to raise awareness in the region will remain key growth influencers.
Know More About What the Report Covers
The skin tears treatment market, a new study from Future Market Insights, provides unparalleled insights on evolution of the skin tears treatment during 2014 – 2018 and presents demand projections during 2019 – 2029 on the basis of product category (moisture-retentive dressing, dressing adhesives & fixators, barrier films, hyaluronic acid wound devices, contact layer dressing, 2-octyl cyanoacrolate topical bandages, gels & cream, and skin clousure strips), type of skin tear (type 1 skin tear, type 2 skin tear, and type 3 skin tear), and distribution channel (hospital pharmacies, retail pharmacies, speciality pharmacies, mail order pharmacies)across seven prominent regions.How Growth Will Unfold
Retail pharmacies still remain the sought-after channel for skin tears treatment products. In recent years, rapid penetration of internet and demand for convenience have been bringing significant changes in various industries, and the emergence of online pharmacy marks the greatest of its impacts.
In order to meet demand of the fast-evolving landscape, key players in the skin tears treatment market are prioritizing omni-channel strategy. Sales of skin tears treatment products through mail order pharmacy are expected to increase steadily during the next decade.
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