May 25th, 2022 DelveInsight Business Research Releases
The Global Wound Healing Device market to witness growing demand for Wound Healing Device is primarily attributed to the shifting focus among the population on lowering the healthcare cost, and the rising shift from the traditional techniques of wound care management towards sophisticated wound care techniques and products across the globe. Moreover, the increasing number of chronic and acute wounds across the globe, and a rise in the usage of Wound Healing Devices such as dressing products among the patient population are also expected to bolster the demand for Wound Healing Device Market.
According to the latest report published by DelveInsight Wound Healing Device Market Insight, Competitive Landscape & Market Forecast 2027, the global Wound Healing Device market is expected to witness appreciable growth in product demand owing to various reasons, one of the major factors influencing the growth of the Wound Healing Device market is the rising prevalence of chronic, acute wounds and ulcers among others, worldwide. This report will provide an in-depth market understanding of the Wound Healing Device market which will further benefit the competitors or stakeholders operating in the Wound Healing Device market.
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Wound Healing is considered a dynamic and complicated process wherein the devitalized, cellular structures and missing tissue layers are replaced in the human body. A Wound Healing Device comes under the wound management process and it comprises of a wound dressing, cotton wool, gauze dressing, bandage, and sutures for dermal wound closures (of less than 30 days). The device might also incorporate an antimicrobial agent or animal tissue.
Among all the regions, North America is expected to occupy a largest share in the Global Wound Healing Device market in the year 2021 and continue to do the same during the forecast period from 2022 to 2027. This domination is due to the rise in rising in the number of patients suffering from acute and chronic wounds, technological advancements in the field of advanced wound care, and the rising investments by government and private manufacturers are also likely to increase the regional Wound Healing Device market.
According to the Centres for Disease Control and Prevention (CDC) 2021, in 2020, diabetes was considered to be one of the leading causes of non-traumatic lower extremity amputations in the United States, with approximately 5% of the diabetics developing foot ulcers.
Furthermore, the increasing prevalence of acute and chronic wounds will also lead to an increase in the demand for Wound Healing Device, thereby leading to an increase in the Wound Healing Device market growth. For instance, according to the National Institute of Health 2020, the United States had assumed that the elderly population present was approximately 55 million, suggesting that chronic wounds will continue to be an increasingly persistent problem in the population. As per the same source, overall in the United States, approximately 2% of the total population is found to be affected by chronic wounds leading to a surge in the Global Wound Healing Device market.
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Some of the leading Wound Healing Device Market players operating in the Wound Healing Device market include Smith & Nephew plc, BSN medical (Svenska Cellulosa Aktiebolaget SCA), Cardinal Health, Organogenesis Inc., Coloplast Group, Integra LifeSciences Corporation, Acelity L.P., Inc., B. Braun Melsungen AG, Hollister Incorporated, Mölnlycke Health Care AB, 3M Healthcare, Medline Industries, Inc., ConvaTec Inc., Ethicon, Inc. (Johnson & Johnson), Hill-Rom Holdings, Inc., Accel-Heal, and others.
The increase in demand for Wound Healing Device is primarily attributed to the shifting focus among the population on lowering the healthcare cost, and the rising shift from the traditional techniques of wound care management towards sophisticated wound care techniques and products across the globe. Moreover, an upsurge in various chronic and acute wounds across the globe, and a rise in the usage of Wound Healing Device such as dressing products, and Wound Healing Device among the patient population, among others are also expected to bolster the demand for Wound Healing Device Market. The Wound Healing Device market is witnessing a growth in product demand owing to several other reasons as well including a rising number of cases of surgical and traumatic wounds and the launch and approval of wound healing products, advantages offered by the foam dressings will lead to an increase in the demand of the Wound Healing Device, leading to an increase in the Wound Healing Device market growth.
However, limitations such as stringent regulations and product recalls are some of the factors expected to limit the growth of Wound Healing Device market. The Wound Healing Device market witnessed a dip in the generated revenue due to the outbreak of COVID-19. The global spread of the COVID-19 had led to undisrupted restrictions and disruptions caused in the business and personal activities. For instance, many governments had issued lockdown orders for both personal and local business activities. The direct impact of the COVID-19 and the preventive and precautionary measures that had been implemented as a result of the lockdown is expected to continue to affect certain industry elements, including operations, commercial organizations, supply chains, and distribution systems serving as a major drawback for a surge in Wound Healing Device market. Several manufacturing facilities were shut down temporarily for some time. Also, the supply chains and distribution networks were also interrupted owing to restrictions in traveling due to lockdown and a decline caused in the sales activity leading to disrupted growth in the Wound Healing Device market.
To gain a better understanding of the short/long-term impact of COVID-19 on the Wound Healing Device market. Get a snapshot @ Wound Healing Device Market Impact Due to COVID-19
Delveinsight Analysis: As per DelveInsight estimates, the Global Wound Healing Device market was valued at USD 19.7 Billion in 2021, growing at a CAGR of 5.32% during the forecast period from 2022 to 2027, to reach USD 26.7 Billion by 2027.
Know more about which key player is set to dominate the Wound Healing Device market @ Key Wound Healing Device Companies
Know more about Wound Healing Device @ Wound Healing Device Market Report Sample
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