Traditional Wound Management Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028
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.
The study presents reliable qualitative and quantitative insights into:
The regional analysis covers:
The vast market research data included in the study is the result of extensive primary and secondary research activities. Surveys, personal interviews, and inputs from industry experts form the crux of primary research activities and data collected from trade journals, industry databases, and reputable paid sources form the basis of secondary research. The report also includes a detailed qualitative and quantitative analysis of the market, with the help of information collected from market participants operating across key sectors of the market value chain. A separate analysis of macro- and micro-economic aspects, regulations, and trends influencing the overall development of the market is also included in the report.
Highlights of the report:
Note: Immense care has been taken to present data with the highest levels of accuracy in all TMRResearch reports. Nevertheless, recent developments related to market/vendor landscape may take time to reflect in the analysis.
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