Some of the most widely usedtraditional wound care products include, bandages, gauzes, woven gauze,sponges, and gauze sponge. Gauze sponges are made up of gauzes and are used toabsorb blood and wound exudates.
Statistics:
The global TraditionalWound Management Market is estimated to account for US$ 5,926.0 Mn in termsof value by the end of 2027.
Global Traditional WoundManagement Market: Drivers
Sustainable demand for first aidand versatility of products is expected to propel growth of the globaltraditional wound management market over the forecast period. There is steadydemand for traditional wound managing first-aid products globally in home caresettings as well as hospitals. Products such as gauze bandages and adhesivebandages enjoy sustainable demand for small cuts and bruises.
Global Traditional Wound ManagementMarket: Opportunities
Tracking interdisciplinarycollaboration for wound management is expected to offer lucrative growthopportunities for players in the market. Inter and intra-departmentalcollaboration between surgeons and their support staff - the nurses plays a keyrole in better wound management. This determines product usage pattern, orderplacement cycles, and choosing preferred vendors. Application of customeranalytics and critical vendor management strategies are factors that could fueldemand for traditional wound management products. Therefore, market playersneed to track zonal purchase patterns by departments in order to achieve higherprofitability.
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Global Traditional Wound ManagementMarket: Restraints
Increasing R&D and demand forlow molecular weight hyaluronic acid derivatives for wound healing is expectedto hamper growth of the market. For instance, in July 2019, researchers fromJilin University, China, reported development of N-butyrylated low molecularweight hyaluronic acid for improved murine cutaneous wound healing.
Key Takeaways:
The Gauzes segment in the globaltraditional wound management market was valued at US$ 1,820.3 Mn in 2019 and isexpected to reach US$ 2,381.9 Mn by 2027 at a CAGR of 3.4% during the forecastperiod. Increasing development and adoption of advanced wound care products isexpected to hinder growth of the market during the forecasted period.
The Surgeries segment helddominant position in the global traditional wound management market in 2019,accounting for 70.1% share in terms of value, followed by Skin and DiabeticUlcers, respectively. Increasing number of surgical procedures is anticipatedto assist the growth of the segment during the forecast period.
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Market Trends
High prevalence of diabetes andother chronic diseases is aiding in growth of the global traditional woundmanagement market. For instance, according to the study, ‘Global Prevalence ofType 2 Diabetes over the Next Ten Years (2018-2028)’, published by the AmericanDiabetes Association, 500 million people worldwide suffered from type 2diabetes in 2018.
The adoption of traditional woundcare measures with novel solutions such as foam, hydrogel dressing, and othershas increased significantly. This in turn has led to high output in wound caremanagement.
Global Traditional WoundManagement Market: Competitive Landscape
Major players operating in theglobal traditional wound management market include, Smith & Nephew plc., B.Braun Melsungen AG, Johnson & Johnson Pvt. Ltd., Medtronic Plc., CardinalHealth, Derma Sciences Inc., Paul Hartman AG, Molnlycke Health Care, MedlineIndustries, Inc., DUKAL Corporation, and BSN Medical.
Global Traditional Wound ManagementMarket: Key Developments
Players in the market are alsofocused on developing and launching sustainable products. For instance, in July2019, Nutricare, an Australia-based company, launched PATCH, 100% compostable,natural and non-irritating bamboo bandage.
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