North America Advanced Wound Care Market Size Growth Rate:
According to the research report, North America Advanced Wound Care Market size was valued at USD 3630 Million in 2018 and this figure estimated to cross USD 4846 Million by the end of 2025, and it is growing at a CAGR of 4.39% during the forecast period 2019-2025.
Growth Drivers and Restraints:
The main factors driving the North American market for wound treatment devices include an increase in the number of wounds and chronic ulcers, an increase in the incidence of diabetes, an aging population, knowledge of new technologies for the treatment of wounds and government support in the form of funding. The market is also fueled by the increase in the number of surgeries; increase in the number of road accidents; increase in the number of burns; increased incidence of chronic wounds, such as diabetic foot ulcer, pressure ulcer and venous ulcer; and increasing the prevalence of diabetes. The expansion of the sector can be attributed to the availability of multiple service and device options and connections with healthcare companies to improve the supply of health care products and services.
In addition, hospitals are the preferred option because of the availability of advanced technologies and better health care services. The home health care segment is growing at a high rate, particularly in developed economies, as a result of the growing geriatric population and infrastructure and support for medical care. In addition, an increase in the demand for advanced wound care management in home care facilities for geriatric patients is expected to boost the segment. The huge increase in medical treatment costs and the reluctance of physicians and patients to accept new treatment procedures can pose a threat to the market, which benefits North American advanced wound care.
However, the government's allocation to the health sector to focus on early recovery should play a critical role in the growth of the North American market, thereby, normalizing the impact of barriers in the advanced wound care. It is also likely that the enormous demands for chronic wound treatment to avoid serious complications, such as amputation, will inspire the market in the coming years.
At the regional level, North America has dominated the global wound care market and is expected to remain in a dominant position in the coming years. Increased health awareness of patients with vascular disease and diabetes is the main factor behind the prevalence of the market in North America. The large number of market participants based in North America is another important factor behind this regional market demand. In addition, it is expected that advances in technology and increased adoption rate of advanced wound management products will drive the market in the region during the forecast period.
Some of the Promising Companies leading the North America Advanced Wound Care Market Profiled in the Report are:
- 3M Health care
- Integra Lifesciences
- Derma Sciences
- Smith & Nephew
This research report includes the following segmentation for the North America Advanced Wound Care Market size and forecast until 2025:
North America Advanced Wound Care Market – By Type:
- Therapy Devices
- Active wound care
North America Advanced Wound Care Market – By Application:
- Skin ulcers
- Surgical wounds
- Burn Wounds
North America Advanced Wound Care Market – By End User:
- In-patient services
- Out-patient services
North America Advanced Wound Care Market – By Regional Segmentation:
- United States
- Rest of North America