The key factors propelling the wound management market include the growing demand for faster recovery of wounds, an increase in the number of surgeries, and the rising incidences of chronic diseases, such as diabetes.
According to the report of Diabetes Footcare Pathway Blueprint, 2017, around 10% of the diabetic population is likely to suffer from foot ulcers. Approximately 450,000 million people in the United Kingdom developed diabetic foot ulcer.
Wound care has become a major concern for patients suffering from diabetes, due to the slow healing process. The incidence of chronic wounds, especially foot ulcers is increasing among the diabetic population. While more than 7,000 adults are expected to undergo a lower extremity amputation at some point in their life, according to the above-mentioned source.
The management of chronic wounds is a significant medical burden associated with large healthcare expenditures. The development of affordable solutions may drive this market toward growth.
Key Market Trends
In the Wound Closure Segment, Surgical Staplers are Expected to Grow at a Rapid Rate
Surgical staplers are specialized medical staplers, which can be used as an alternative to sutures, for the purpose of wound closure. They can be used during minimally invasive image-guided procedures. With the rise in demand for minimally invasive surgeries, the surgical staplers segment is expanding. Surgical staplers offer benefits, such as faster recovery, less pain, coagulation, and accurate closure, especially in minimally invasive procedures. Various applications of surgical staplers include the areas of gynecology, abdominal surgeries, cardiothoracic, and orthopedic surgeries, among others.
The wound care market is significantly fragmented, with the presence of a large number of players. Market players are focusing on various growth strategies, in order to enhance the market presence by mergers, acquisitions, partnerships, collaborations, new product launches, etc. The companies are also showing continuous growth and are developing new and differentiated products and services, which address the evolving healthcare needs among patients, providers, and consumers.
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