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Wound and Tissue Management Market to Incur Rapid Extension by 2021
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On the basis of static compression therapy, wound and tissue management market can be segmented into graduated compression stockings, medical compression stockings, unna boot, OTC compression stockings, compression bandages and anti-embolism stockings. On the basis of advanced dressing, wound and tissue management market can be segmented into moist dressing, interactive dressings, iodine dressings, antimicrobial dressings and non-adherent contact layers. Moist dressings include foam dressings, hydrocolloid dressings, alginate and hydrofiber dressings, transparent film dressing, hydrogel dressing and others. On the basis of tissue sealant, wound and tissue management market can be segmented into fibrin-based internal tissue sealant, synthetic internal tissue sealant and protein-based internal tissue sealant. Negative pressure wound therapy (NPWT) market includes NPWT dressings, NPWT canister and NPWT pump.
North America, followed by Europe, has the largest market for wound and tissue management due to developed healthcare infrastructure, technological advancement and rise in healthcare expenditure in this region. Asia is expected to show high growth rate in the wound and tissue management market in next few years due to government initiatives, rise in chronic diseases and adoption of advancement wound and tissue management products and technologies in the region.
Rise in aging population, technological advancement, increasing incidence of diabetes cases, rise in healthcare expenditure, government initiatives are driving the market for wound and tissue management. In addition, growing incidence of chronic diseases, increasing awareness about wound and tissue management products and technologies available in the market are driving the market for wound and tissue management. However, economic downturn is acting as one of the major restraints for the growth of global wound and tissue management market.
Growing demographics and economies in the developing countries such as India and China are expected to lead growth in wound and tissue management market in Asia. In addition, technological advancement, new product innovations and growing awareness about benefits of timely wound and tissue management are expected to offer new opportunities for global wound and tissue management market. Increasing number of mergers and acquisitions, new product launches and rise in number of collaborations and partnerships are some of the latest trends that have been observed in global wound and tissue management market.
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Some of the major companies operating in the global wound and tissue management market are 3M, Smith & Nephew, Baxter, Coloplast and B. Braun. In addition, some other companies operating in the global wound and tissue management market are Molnlycke Health Care, Ethicon, Covidien, Pfizer and ConvaTec.
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