Wound Debridement Products Market is expected to be valued at US$ 497.3 Billion in 2022 | FMI
In 2022, the wound debridement products market is anticipated to be worth US$ 497.3 billion. The overall demand for wound debridement products is anticipated to increase at a CAGR of 5.6% between 2022 and 2032, reaching approximately US$ 857.55 Billion by 2032 due to the rise in the incidence of hard and heal wounds, as well as the rising number of collaborations, partnerships, and new product launches.
Demand for wound debridement products is surging steadily owing to its steady demand, especially from hospitals and specialty clinics. The report also expands on the previous competitive section, with divestures, mergers & acquisitions, and new forays analyzed.
According to latest analysis, wound debridement product sales have witnessed a minor decline in US, the largest market globally. However, demand still continues to be strong and manufacturers can expect a steady stream of opportunities during the forecast period. US currently accounts for nearly one-fourth of all wound debridement sales globally.
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Applications in Treating Chronic Ulcers and Surgical Wounds Driving Demand
Demand for wound debridement products continues to remain high for treating chronic ulcers and surgical wounds.
According to the study, these two application areas continue to create opportunities for market players.
Of particular significant is application in chronic leg ulcers. Chronic ulceration of lower legs continues to be a challenge area, with 3.6% of people older than 65 years suffering from this (Grant Medical College).
FMI’s study reveals that use of wound debridement products in treating these types of ulcers will continue to account for steady demand over the course of the forecast period.
Who is Winning in this Space?
The global wound debridement products market is extremely competitive in nature.
According to FMI, majority of the players in the wound debridement products market are focusing on acquisitions and launching new and effective product variants
For instance, Axio Biosolutions, a leading Indian company working in the industry, is consistently working on the creation of an emergency wound hemostat.
The company also launched an effective dressing namely “Axiostat” which gained a whole lot of importance and wide acceptance across the defense forces and civil hospitals.
The dressing has helped majorly in preventing bleeding in the wounds.
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Key Takeaways from Study
- Hospitals will remain the largest demand generators for wound debridement products
- Strong demand in US to continue in 2021 and beyond, making North America the largest market globally
- New product innovation to be a key focus area for manufacturers
- Demand for wound debridement products rising in Asia Pacific as various economies make an early recovery from COVID-19 pandemic
Demand Likely to Increase in Asia Pacific
FMI’s analysis reveals US to be the most lucrative market for wound debridement products, but owing to relatively less impact on many Asian economies, demand is likely to surge.
China, India, and South East Asian countries have been lesser impacted by the covid-19 crisis, as compared to US and Western Europe.
Further, healthcare sector in these countries is going through an infrastructure revamp, which is also likely to create opportunities for manufacturers.
More Valuable Insights
In its latest report, FMI offers an unbiased analysis of the global wound debridement products market, providing historical data for the period of 2016-2020 and forecast statistics for the period of 2021-2031.
In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of end users, application, regions and product types.
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Wound Debridement Products Market – Segmentation by Category End Users
- Hospitals
- Ambulatory Surgical Centres
- Specialised Clinics
- Nursing Facilities
- Others
Regions
- North America
- Latin America
- Europe
- Asia Pacific
- MEA
Applications
- Chronic Ulcers
- Surgical Wounds
- Traumatic Wounds
- Burn Cases
Product Types
- Hydrosurgical Debridement Devices
- Low Frequency Ultrasound Devices
- Surgical Wound Debridement Devices
- Mechanical Debridement Pads
- Traditional Wound Debridement Devices
- Larval Therapy
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