The North America wound care management market size is projected to register a substantial CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the rising chronic wounds and ulcers, increasing diabetes prevalence, ageing population, more knowledge of innovative wound care technologies, and government assistance in the form of financing.
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Acute and chronic wounds are the two types of wounds. For their treatment, there are standard and sophisticated wound care and closure solutions. Chronic wounds are those that are difficult to heal, require a long time to cure, and are costly to treat. The majority of wound care products are used to treat complicated wounds. Injuries and wounds are frequent ailments that impact billions of individuals across the world. For a variety of reasons, the products are very resistant to environmental inhibitors and foreign particles, and they are administered by a nurse under the direction and supervision of a physician. Wound care is essential for preventing infections and promoting patient well-being. It specifically relates to treatment options for pressure sores, skin ulcers, and other skin-breaching lesions.
Market Trends, Drivers, Restraints, and Opportunities
- Rising chronic wounds and ulcers and increasing diabetes prevalence are projected to fuel the market during the forecast period.
- Increasing ageing population, more knowledge of innovative wound care technologies, and government assistance in the form of financing is key factor propelling the market in the coming years.
- High price of technically better wound care products is estimated to hamper the market expansion.
- Lack of adequate reimbursement schemes act as major challenge that can restrict the market expansion in the coming years.
- R&D investment and technological advancement is anticipated to create lucrative opportunities for the market players.
Market Segment Insights
The dressing in wound care segment is projected to hold a major market share
Based on product, the North America wound care management market is divided into wound care and wound closure. The dressing in wound care segment is expected to represent a key share of the market during the forecast period. Foam plays an important function in the treatment of chronic wounds and the healing of wet wounds. Polyurethane foam has been one of the most widely used wound dressings for exudate control in wet wound healing. The foam is made out of a porous structure that may absorb fluids by capillary action into air-filled gaps.
The surgical in acute wounds segment is expected to grow at a rapid pace
In terms of wound type, the North America wound care management market is segregated into chronic wound and acute wound. The surgical in acute wounds segment is expected to represent a key share of the market during the forecast period. Due to increase in the number of instances of trauma, the surgical wounds category held the major share. An acute wound is a skin damage that arises abruptly rather than gradually.
Canada is expected to dominate the market
On the basis of geography, the North America wound care management market is classified as United States, Canada, and Mexico. Canada is anticipated to dominate the market during the forecast period. The growing demand for new wound care products and services is expected to propel the Canadian market. As improved products can reduce the likelihood of long-term problems, the government is focused on product development and funding research programs. The Canadian association of wound care has taken a collaborative and interdisciplinary approach to wound management and prevention. Rise in product demand is due to increasing incidence of trauma injuries and burns.
Competitive Landscape
Key players competing in the North America wound care management market include Johnson & Johnson, Smith + Nephew, Baxter International, 3M Company, and Integra Life Sciences.
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