17 Sep Report Takes a Look at Wound Management Market
A newly released report says that many factors are propelling the wound care management device market including the growing demand for faster recovery of wounds, rising incidences of chronic wound, increase in the number of surgeries, and the growing occurrence of diabetes, that is expected in the expansion of the overall market.
The report, “Wound Management Market – Growth, Trends, and Forecasts (2019-2024),” released on September 11, 2019 by Reportlinker, says that diabetes is the major wound causing disease along with other chronic diseases. Twenty five percent of the persons age 65 and over suffer from diabetes. The incidence of chronic wounds, especially foot ulcers is increasing among the diabetic population. While more than 80,000 adults are expected to undergo a lower extremity amputation, it is also estimated that patients with diabetes are 10 times more likely to undergo amputation at some point in their life, say the authors of the report.
With the graying of America, the number of older diabetic patients are expected to increase, in turn, will spur the growth of the wound care management devices over the forecast period.
The report notes that wound care management products are majorly used to treat complex wounds. Wounds and injuries are common afflictions that affect billions of people worldwide. The products are highly resistant to environmental inhibitors and foreign particles and are used by a nurse under the physician’s orders and supervision, for many reasons. Therefore, the rising rates of risk factors and the need for cost-efficient treatments are driving the need for better wound care products.
Zeroing in on Market Trends
The report predicts that the hospital and specialty wound care clinic segment is estimated to account for the largest share of the global wound care market due to the increase in the number of chronic wound cases, rising incidence of diabetes, and improving hospital infrastructure in the developing countries.
North America dominates the advanced wound care management market due to the increasing incidence of chronic wounds, favorable reimbursement policies, and rise in the aging population.
However, Asia-Pacific is expected to witness the highest compound annual growth rate, with the growth in this market centered on Japan, China, and India. Additionally, there are factors, such as the rising focus of the major players in the emerging Asian countries and government support that is driving the growth of the wound care management device market in this region.
Read the full report: https://www.reportlinker.com/p05815085/?utm_source=PRN.