Traditional Wound Management Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028

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Traditional Wound Management Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028

Status : October, 2020 | Medical Devices | PPT format

Report Digest


Global Traditional Wound Management Market: Overview

For centuries, generations in various countries across continents have used traditional therapies for wound care with significant success. However, the need for better management therapies for chronic wounds led to a shift in the attention of the healthcare industries seek advanced, novel solutions. Nonetheless, even after modern medicine for wound management started gathered steam, the paradigm of traditional wound management continued to evolve. Unique benefits underlie the steady need for traditional wound management. Traditional wound care in contrast to advanced wound management is easily accessible at local pharmacies, is cost-effective, and works fine for various non-severe wounds. It therefore continues to be used by clinicians in wound care along with secondary dressings and antibacterial ointments for a complete wound management. 

Some of the key products used in the traditional wound care management market are gauze, lint, plasters, wadding, and bandages. Over the past few years, there has been perceptible rise in the demand for gauze bandages and tapes in hospitals, specialty clinics, and home healthcare. Extensive uptake of these product types has added substantial revenues to the global traditional wound management market. 

Global Traditional Wound Management Market: Notable Developments

Incorporation of moist wound healing concepts in the traditional wound management market has been a bellwether of growing relevance of traditional therapies in wound care. The concept has also proved effective for treating patients with acute and chronic wounds also. A few recent developments in the traditional wound management market drive home the point. 

In the past couple years, considerable research in the academia has been made with respect to effectiveness of skin liquid bandage and skin-like liquid bandage for treating a wide range of wounds. This has in a way disrupted the use of liquid bandage in traditional wound management market. A case in point is elastic skin-like liquid bandage developed by a biomedical start-up Aleo BME, Inc. The product bagged the U.S. FDA approval in January 2018. 

The company focuses on incorporating nature-inspired biomaterials for traditional wound care. Its initiatives, including the aforementioned, in a way sets new directions for numerous other medical device manufacturers seeking new revenue streams in the traditional wound management market. These will likely result in more efficacious products in traditional wound management for prescription and over-the-counter uses. 

Some of the prominent players seeking marked revenue streams in the traditional wound management market are Derma Sciences, Inc., Cardinal Health, Smith & Nephew, Medtronic Plc, Johnson & Johnson Pvt. Ltd., and B. Braun Melsungen AG. 

Global Traditional Wound Management Market: Key Drivers

The overall wound care market-advanced as well as traditional-has been notably vibrant for reasons more than one. Growing numbers of patients with chronic wound and traumatic injuries in various parts of the world has propelled the demand for traditional wound management. Rising numbers of road accidents, especially in low- and middle-income countries, has also opened new prospects in the traditional wound management market. 

In particular, the past few years have seen the rise of wound care patients in ambulatory surgery centers. This has resulted in the proliferating use of traditional wound management products, especially in developed nations such as the U.S. 

Stakeholders in the market have benefitted from various studies supporting the increasing efficacy of traditional wound care products to be used in first line of care in treating uncomplicated wounds. This alone is a robust underpinning to the evolution of the traditional wound management market. Further, vigorous efforts have been made by various medical device makers in to develop wound care products that can counter the rise in antibiotic resistance will pave way for new avenues. 

 Global Traditional Wound Management Market: Regional Assessment 

Traditional wound management products and technologies find extensive markets in North America and Asia Pacific, among other developing and developed regions. Particularly in North America, wound care technologies have made rapid advances over the years, bringing new products for chronic and acute wounds. 

Asia Pacific has been a fast emerging market. To a great deal, this can be attributed to the vast uptake of traditional wound management products in the emerging economies. Rising diabetic population in the region has also shaped the contours of this regional market in recent years.

This study provides a particularized anatomy according to the L.E.A.P mechanism

  • Latest trends and cardinal growth prospects
  • Existing and future insights in growth
  • Ascensions in technology
  • Pain points

The regional analysis offers market assays across:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.

Latest Trends and Cardinal Growth Prospects

The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.

Existing and Future Insights in Growth

The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.

Ascensions in Technology

Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.

Pain Points

The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.

The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.

An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.

The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!

This report is the key to questions such as:

What are the prominent factors that will help in reshaping the market growth?

Which trends have the potential to bring expansive growth for the market?

What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?

Which regions will emerge as champion growth contributors for the market?

Which aspects will serve as game-changers for the market?

What are the latest innovations in the market?

Which factors will hinder the growth of the market?