Market Overview

North America Wound Care Product Market 2018-2023 - ResearchAndMarkets.com

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The "North
America Wound Care Product Market (2018-2023)"
report has been
added to ResearchAndMarkets.com's offering.

The North America wound care product market is anticipated to expand at
an overall compound annual growth rate (CAGR) of 5.4 % and will be worth
of USD 9.74 Bn by 2023.

With an increase in the number of chronic diseases, wound care products
are becoming more popular due to easier access to new healing
technologies. One such example is the demand for combination dressings.

The wound care product market in North America is anticipated to be
driven majorly by the U.S., throughout the forecast period. This is
because in the U.S., the reimbursement schemes are good and better
utilized since a simple dressing can heal a wound. This is referred by
practitioners, making it less labor intensive and cheap.

By countries, the North America wound care product market is divided
into U.S. and Canada. The U.S. is expected to hold more than half of the
market. It was also reported that in the U.S., The proportion of aged
population in the U.S. is expected to increase to nearly 24% by 2060 ,
from its current 15%. This is one of key reasons that U.S. is investing
in advanced wound care products with backing from the government. On the
other hand, Canada is expected to show a slow growth rate within the
forecasted period due to low innovation and limited product launches.

There are better chances to improve wound care solutions to combat this
situation.

By product type, North American wound care products are used for
surgical wound care, advanced wound care, and traditional wound care.
Surgical wound care dominates the market because of increasing number of
surgeries, which results in a higher number of wounds.

For segmentations based on, North American wound care products are used
for chronic and acute wound care. Chronic wound care is the largest and
also the highest growing segment due to new cost-effective innovations
of advanced wound care products.

Hospitals and specialty wound care clinics, long-term care facilities,
and home healthcare are the end user segments. Home healthcare is the
fastest growing segment due to its cost-effectiveness. The long-term
care facilities will also have steady growth in the market, more than
the Hospitals and specialty wound care clinics.

Key growth factors

  • North America holds the largest market share because there are a large
    number of players offering wound care products in the region. The
    organizations have made huge investments in advanced healing
    technologies.
  • North America dominates the surgical wound care product segment. It
    will hold half of the market share owing to a rise in population of
    people who are aged 65 years and above.

Threats and key players:

  • The presence of intense competition will deter the growth of the wound
    care products market in the North America.
  • Increasing cost of materials is straining profitability for many wound
    care companies which are coming up with products for the developed
    markets.
  • The key players operating in this market are Acelity L.P. Inc., 3M,
    Integra LifeSciences Holdings Corporation, Johnson & Johnson Pvt.
    Ltd., and Baxter International Inc.

Companies Mentioned

  • Acelity L.P. Inc.
  • 3M
  • Integra LifeSciences Holdings Corporation
  • Johnson & Johnson Pvt. Ltd.
  • Baxter International Inc.

For more information about this report visit https://www.researchandmarkets.com/research/svxvhc/north_america?w=4

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