The global Wound
Closure Market by product type (wound dressings and surgical wound closure
products), by application (ulcer, surgical wounds, burn injuries, and other
applications), by end user (hospitals, long-term care settings, and home care
settings) and by region (North America, Latin America, Europe, Asia Pacific,
Middle East, and Africa) was valued at US$ 2.3 billion in 2017 and is projected
to expand at a CAGR of 7.1% during the forecast period (2017 - 2025).
Increasing number of geriatric
population, rise in the prevalence of chronic wounds, venous ulcers, diabetes
ulcers, and pressure ulcers, owing to the increased cases of lifestyle disease,
accidents, and casualties are expected to be major driving factor for the wound
closure market growth during the forecast period. The skin breakdown with
ulcers and chronic wound formation is one of the common clinical problem, as
the geriatric population are more prone to the wound and ulcers. Rising number
of surgical procedures among aged population are expected to have increased
potential for wound complications. According to the data published in the
National Center for Biotechnology Information (NCBI) in November 2016, in U.S.
chronic wounds are reported to affect 6.5 million patients with approximately
US$ 25 billion expenditure annually by healthcare system on wound related
complications.
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According to the data published
in the January 2016 by the Population Reference Bureau report, prevalence of
obesity rate among the older adults have been increasing from 31.6% to 41.5%
among the men aged 65 to 74 while the prevalence among the men aged 75 and
older has increased from 17.7% to 26.5%. Moreover this trend is expected to significantly
increase health burden including high risk of diabetes, cardiovascular disease,
osteoarthritis, stroke, and cancer, which adversely impact the wound healing in
geriatric population.
Wound is circumscribed injury
caused by an external force, which involves injury to any tissue or organ. On
the basis of severity of injury, wounds are classified into acute and chronic
wounds. Wounds imposes significant impact on the health of patients, which
leads to pain, loss of function and mobility, depression, anxiety, and stress.
According to the National Health Services (NHS), England, annual cost of
maintaining wounds and associated disease conditions is US$ 6.60 billion in the
U.K. In 2016, around 2.2 million population accounted to have wound and about
30% wounds lacked the diagnosis treatment in the U.K. by General Physician (GP)
report. Pressure ulcer account for around US$ 1.7 million to US$ 2.6 million
annually in the U.K., which is same as 4% of total NHS expenditure in 2016.
Browse 55 Market Data Tables and
35 Figures spread through 145 Pages and in-depth TOC on wound closure market by
product type (wound dressings, and surgical wound care), by application
(ulcers, surgical wounds, burn injuries, and other applications), by end user
(hospitals, long-term care settings, and home care settings) and by region
(North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) -
Global Forecast to 2025.
Browse Research
Report: https://www.coherentmarketinsights.com/market-insight/wound-closure-market-1205
Key Takeaways of the wound
closure market:
The global wound closure market
is expected to expand at a CAGR 7.1% during the forecast period (2017 – 2025),
due to the rising prevalence of chronic wounds and emergence of technically
advanced wound closure products.
Among product type, wound
dressings segment hold a dominant position in the global wound closure market,
owing to features such as optimized and cost-effective treatment, reduced the
number of dressing changes, and accelerated wound healing time.
Surgical wounds is the major
application area of the global wound closure market. Increasing number of
surgeries resulting into wound indications post-surgery is fueling the growth
of wound closure market in near future.
Hospitals is the major end user
segment in the global wound closure market due to the increased hospital
administration, owing to the growing cases of accidents, casualties, and rising
administration of geriatric population suffered with lifestyle disease
conditions.
Some of the key players operating
in global wound closure market are Acelity L.P.Inc., Smith & Nephew plc,
Johnson & Johnson, B. Braun Melsungen AG, ConvaTec Group plc, Baxter
International Inc., Integra LifeSciences Corporation, Medtronic plc, Molnlycke
Health Care AB, and Cardinal Health, Inc.
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