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Wound Management Technologies Market Estimated to Record Highest CAGR by 2020
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Whereas, market for advanced wound care segment can be segmented into moist wound care, wound care devices and wound care biologics. Moist wound care technology consists of foam dressings, hydrocolloid dressings, alginate dressings and hydrogel dressings. Wound care devices consist of ultrasound devices, wound closure devices and negative pressure wound therapy (NPWT). Wound care biologics segment consists of cell based therapeutics, collagen based therapeutics and skin replacement therapeutics.
North America, followed by Europe, has the largest market for wound management technologies due to increasing prevalence of chronic wounds and high acceptance for different wound management technologies available. Asia is expected to show high growth rate in next five years in wound management technologies market. China and India are expected to be the fastest growing wound management technologies markets in Asia region. Some of the key driving forces for wound management technologies market in emerging countries are large pool of patients and growing awareness about different wound management technologies.
Some of the key factors driving the wound management technologies market are improving efficiency of wound care products, growing awareness about different types of dressings and therapies available in market and improvement in the healthcare facilities. However, lack of regulation for use of wound management technologies and improved wound prevention techniques are some of the key factors restraining the wound management technologies market.
Growing demographics and economies in the developing countries such as India and China are expected to offer good opportunities for wound management technologies market. In addition, rise in awareness about the availability of different technologies for management of wound is expected to offer new opportunity to global wound management technologies market. Acceptance of emerging new wound management technologies is one of the major challenges faced by wound management technologies market. Some of the latest trends that have been observed in global wound management technologies market include companies involved in acquisitions, mergers and deals in intellectual property.
Some of the major companies dealing in global wound management technologies market are Johnson and Johnson, 3M, Smith & Nephew, Systagenix, Kinetic Concepts Inc. and Hill-Rom.
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