Some of the most widely used
traditional wound care products include, bandages, gauzes, woven gauze,
sponges, and gauze sponge. Gauze sponges are made up of gauzes and are used to
absorb blood and wound exudates.
Statistics:
The global Traditional
Wound Management Market is estimated to account for US$ 5,926.0 Mn in terms
of value by the end of 2027.
Global Traditional Wound
Management Market: Drivers
Sustainable demand for first aid
and versatility of products is expected to propel growth of the global
traditional wound management market over the forecast period. There is steady
demand for traditional wound managing first-aid products globally in home care
settings as well as hospitals. Products such as gauze bandages and adhesive
bandages enjoy sustainable demand for small cuts and bruises.
Global Traditional Wound Management
Market: Opportunities
Tracking interdisciplinary
collaboration for wound management is expected to offer lucrative growth
opportunities for players in the market. Inter and intra-departmental
collaboration between surgeons and their support staff - the nurses plays a key
role in better wound management. This determines product usage pattern, order
placement cycles, and choosing preferred vendors. Application of customer
analytics and critical vendor management strategies are factors that could fuel
demand for traditional wound management products. Therefore, market players
need to track zonal purchase patterns by departments in order to achieve higher
profitability.
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Global Traditional Wound Management
Market: Restraints
Increasing R&D and demand for
low molecular weight hyaluronic acid derivatives for wound healing is expected
to hamper growth of the market. For instance, in July 2019, researchers from
Jilin University, China, reported development of N-butyrylated low molecular
weight hyaluronic acid for improved murine cutaneous wound healing.
Key Takeaways:
The Gauzes segment in the global
traditional wound management market was valued at US$ 1,820.3 Mn in 2019 and is
expected to reach US$ 2,381.9 Mn by 2027 at a CAGR of 3.4% during the forecast
period. Increasing development and adoption of advanced wound care products is
expected to hinder growth of the market during the forecasted period.
The Surgeries segment held
dominant position in the global traditional wound management market in 2019,
accounting for 70.1% share in terms of value, followed by Skin and Diabetic
Ulcers, respectively. Increasing number of surgical procedures is anticipated
to assist the growth of the segment during the forecast period.
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Market Trends
High prevalence of diabetes and
other chronic diseases is aiding in growth of the global traditional wound
management market. For instance, according to the study, ‘Global Prevalence of
Type 2 Diabetes over the Next Ten Years (2018-2028)’, published by the American
Diabetes Association, 500 million people worldwide suffered from type 2
diabetes in 2018.
The adoption of traditional wound
care measures with novel solutions such as foam, hydrogel dressing, and others
has increased significantly. This in turn has led to high output in wound care
management.
Global Traditional Wound
Management Market: Competitive Landscape
Major players operating in the
global traditional wound management market include, 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, and BSN Medical.
Global Traditional Wound Management
Market: Key Developments
Players in the market are also
focused on developing and launching sustainable products. For instance, in July
2019, Nutricare, an Australia-based company, launched PATCH, 100% compostable,
natural and non-irritating bamboo bandage.
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