Traditional Wound Management Market is likely to register CAGR of 3.2% through 2032
The global traditional wound management market is expected to generate profitable prospects from 2022 to 2032, with a valuation of US$ 5.1 billion by the end of 2022 and exceedingly about US$ 6.9 billion by the end of 2032.
According to a new analysis by Future Market Insights, the gauze category by product will lead the global market with a share of approximately 39.7% in 2021.
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The market for traditional wound management grew at a CAGR of 2.9% from 2014 to 2021. Conventional wound management is projected to undergo a shift in dynamics as a result of changes in the demographics of the senior population and the increasing prevalence of wounds caused by the global problem of infection acquired during surgical procedures.
Additionally, the surgical list includes chronic wound treatment. The rise in trauma and chronic diseases such as diabetes and ulcers is the primary driver of the traditional wound management market’s growth.
- Because of cost-effectiveness and clear reimbursement policies, the market is likely to display an optimistic outlook. The dramatic shift in wound healing and care dynamics, along with the widespread acceptance of traditional wound management products, represents a major revenue opportunity for the traditional wound treatment market.
- The growing number of chronic wound patients has prompted the development and application of therapies that promote faster and more efficient wound healing. Early healing is expected to contribute to shorter and average hospital stays. Chronic wounds are a persistent health issue because they frequently spread to neighbouring tissues, culminating in infection and amputation.
- Many infections occurred as a result of the surge in major health concerns, increasing overall system expenses. As a result, traditional wound care and cleansing methods are re-evaluated, and traditional wound care products are introduced into the patient and wound care system to reduce infection-related expenditures.
- Regardless of the availability of improved wound care and healing solutions, major healthcare professionals and facilities prefer traditional wound treatment products because of their low cost and long-term training and research experience.
- Some of the factors driving the market include an increase in various surgical operations, an older population, and an increase in the adoption of technologically improved products. Obstacles include a shortage of competent clinicians, a lack of general knowledge about wound care, and increased medical waste.
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The traditional wound management market environment is highly fragmented, with multiple competitors. To meet consumer demand and expand their customer base, these companies are implementing methods such as expanding their production capabilities through the construction of new factories and manufacturing facilities, as well as engaging in partnerships and collaborations and launching new products with technological advancements.
Key Companies Profiled
- Smith & Nephew plc.
- B. Braun Melsungen AG
- Johnson & Johnson Pvt. Ltd.
- Medtronic Plc.
- Cardinal Health,
- Derma Sciences Inc.
- Paul Hartman AG
- Molnlycke Health Care
- Medline Industries, Inc.
- DUKAL Corporation
- BSN Medical
More Insights into the Traditional Wound Management Market
In Asia-Pacific, the traditional wound healing market is expected to grow due to the increasing adoption of traditional medicine practices in countries like China, India, and Japan. These countries have a long history of using traditional medicine and are investing in research to support the development of traditional wound care products.
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Key Market Segments Covered in Traditional Wound Management Industry Research
- Adhesive Bandages
- Non-adhesive Bandages
- Compression Bandages
- Woven Gauzes
- Non-woven Gauzes
- Gauze Sponge
- Woven Gauze Sponges
- Non-woven Gauze Sponges
- Woven Sponges
- Non-woven Sponges
- Skin and Diabetic Ulcers
- Others (skin cuts, primary dressings, etc.)
By End User:
- Diagnostic Centers
- Homecare Settings
- Ambulatory Surgical Centers
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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