The global Traditional Wound Management Market size 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. Traditional 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.
Furthermore, 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.
Key Takeaways
- 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. persistent wounds are a persistent health issue because they frequently spread to neighbouring tissues, culminating in infection and amputation.
- Several 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 goods, major healthcare professionals and facilities prefer traditional wound treatment products because of their low cost and long-term training and research experience.
- The surge in various surgical procedures, the aging population, and the surge in the adoption of technically advanced products, are some of the factors driving the market. The hurdles faced are due to a lack of skilled professionals, general awareness about wound care, and rising medical waste.
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Competitive Landscape
With numerous competitors in the Traditional Wound Management market landscape, the overall industry is fragmented. In order to meet consumer demand and expand their customer base, these companies are implementing methods such as expanding their production capabilities by constructing new factories and manufacturing facilities also indulging in partnerships and collaborations and availing new product launches 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
The US is expected to dominate the global Traditional Wound Management market as it accounted for around 26.4% in 2021 and is expected to continue to experience the same growth throughout the forecast period.
China is the second largest manufacturer of Traditional Wound Management. According to the estimations, China is expected to account for 6.0% of globally. The market is expected to surge at a robust pace over the forecast period due to rising healthcare facilities in the region along with the presence of prominent manufacturers.
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Key Market Segments Covered in Traditional Wound Management Industry Research
By Product:
- Bandages
- Adhesive Bandages
- Non-adhesive Bandages
- Compression Bandages
- Gauzes
- Woven Gauzes
- Non-woven Gauzes
- Gauze Sponge
- Woven Gauze Sponges
- Non-woven Gauze Sponges
- Sponges
- Woven Sponges
- Non-woven Sponges
By Application:
- Skin and Diabetic Ulcers
- Burns
- Surgeries
- Trauma
- Others (skin cuts, primary dressings, etc.)
By End User:
- Hospitals
- Clinics
- Diagnostic Centers
- Homecare Settings
- Ambulatory Surgical Centers
About Future Market Insights, Inc.
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient 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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