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 : May, 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.

The study presents a granular assessment and quantitative evaluation of:

  • Key growth factors and prominent trends
  • Size and share of key segments in overall market
  • Key challenges and winning imperatives
  • Factors shaping competitive landscape
  • Insights into how contours of market will change in coming years
  • Technological advances
  • New avenues and imminent investment pockets
  • Regulatory landscape shaping current and future strategies of companies

The region-wise assessment includes market dynamics in:

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

The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.

The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:

  • Which key factors will shape the competitive landscape?
  • Which trends will stimulate research and development activities in different geographies?
  • Which are the lucrative growth areas and what is the size of potential they are likely contribute to the overall market?
  • Which disruptions in market growth are likely to come with the new business models?
  • Which are some of the recent overhauls in policies that may change the course of the market significantly?
  • Which are the geographies that will form sizable sources of new streams to new and established players alike?
  • How are top players likely to realign their strategy to counter the forces of competition?
  • Which key strategies emerging players are likely to focus on to consolidate their position?
  • Which changes in end-user preferences might affect the status quo held by the leading players?
  • Which are some of the game-changing innovations influencing the projected share and revenue of the market and its segments?

Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.

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