Skin Tears Treatment Market was valued at US$ 433.5 Million in 2021 and is expected to reach US$ 569.4 Million by 2029
Driven by promotional and educational programs conducted for increased awareness, skin tears treatment market is set to expand 1.4X during 2022 – 2029. Currently representing a US$ 446.2 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.
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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