Wound Tissue Analysis Solutions Market: Opportunities, Demand and Forecasts, 2018-2028
Wound tissue analysis solutions are designed for tissue analysis of wounds to determine characterization and classification of wounds so as to determine the prognosis for optimum rate and degree of healing. Wound tissue analysis solutions detect parameters such as an array of pathogens, state of recovery, pH and others that aid in designing appropriate treatment regimens depending on individual cases.
The growing cases and incidence of wounds owing to rise in risk factors such as trauma, diabetes, occupational hazards, sporting culture, burns, and violence, among others is the major factor driving the growth of the wound tissue analysis solutions market. According to the World Health Organization (WHO), wounds inflicted from such conditions kill more than five million people worldwide annually and account for 9 % of global mortality. The WHO also estimates that road traffic crashes and homicide are expected to be among the top 20 leading causes of deaths globally by 2030. It also states that road traffic crashes will become the fifth leading cause of deaths by 2030. It estimates that nearly one-third of the 5.8 million deaths from injuries due to violence and one-quarter are the result of road traffic accidents.
Thus, a large wound tissue analysis solutions market with unmet need exists which has been expanded by the emergence of microbial resistance. The growing per capita income and geriatric population are the other factors expected to drive the growth of the wound tissue analysis solutions market.
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Technological advancements in wound tissue analysis solutions such as the development of fluorescence tagging solutions providing visual validation of wound infection, growing sensitivity and selectivity of wound tissue analysis solutions, robustness of detection unaffected by impurities such as concurrent antibiotic use, faster detection than conventional tissue analysis, lower healthcare costs, identification of antibiotic resistance are increasing the adoption of wound tissue analysis solutions. However, lack of awareness and difficulties in accurately interpreting signals that vary by a large magnitude are expected to act as a barrier in the growth of the wound tissue analysis solutions market over the forecast period.
Wound Tissue Analysis Solutions Market: Overview
The global market for wound tissue analysis solutions is highly consolidated with a handful players dominating the scene owing to the nascent stage of market and the high technological intensity of these devices. The wound tissue analysis solutions market is dominated by the developed regions such as North America and Europe owing to faster adoption of technology and high per capita income.
The developing regions of Asia Pacific, such as India and China, represent an enormous market opportunity for wound tissue analysis solutions. Online distribution and ecommerce is expected to drive distribution efficiency, which will be hastened by the emergence of self-educated customers. Technology gains from product development represent the largest value proposition over cost. Product development is another attractive strategy followed by several wound tissue analysis solutions companies.
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Wound Tissue Analysis Solutions Market: Regional Outlook
The global wound tissue analysis solutions market is classified into North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific, Japan and Middle East & Africa. North America dominated by the U.S. is expected to account a large share in the global wound tissue analysis solutions market owing to large presence of key market players and growing adoption of latest technologies. The Europe wound tissue analysis solutions market is expected to be led by Germany, France and the U.K.
The Asia Pacific excluding Japan wound tissue analysis solutions market is expected to grow at a high CAGR over the forecast period. In addition, China and India are expected to drive a large share in the Asia Pacific wound tissue analysis solutions market share.
The Middle East and Africa wound tissue analysis solutions market is expected to be dominated by the wealthy gulf economies of Saudi Arabia, Kuwait, UAE and Qatar. However, the poor income of African economies coupled with poor social conditions are hampering the wound tissue analysis solutions market in Africa.
Wound Tissue Analysis Solutions Market: Key Players
Examples of some of the key players operating in the global wound tissue analysis solutions market are Tissue Analytics, Creative Bioarray, Swift Medical Inc., Systagenix, and Mölnlycke, among others.
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