Advanced wound care market is majorly propelling by the advancements in the technologies, growing aging population, ineffective traditional wound healing methods and associated risks with them. Government initiatives and need for safer and prompt treatment for the chronic wounds are anticipated to boost the growth of advanced wound care market. Increasing prevalence rate of lifestyle disorders further leads to chronic wounds like venous leg ulcer, pressure ulcer and diabetic foot ulcer are the key factors which are anticipated to increase the global growth of advanced wound care management market. However, High cost of treatment and less reimbursement policies for new technologies are the factors that are hampering the advanced wound care market growth
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The advanced wound care market segmented by product type, application, end-user, and geography.
On the basis of product type, advanced wound care market is segmented as:
Advanced Wound Dressing
Foam Dressing
Hydrocolloid Dressing
Film Dressing
Alginate Dressing
Hydrogel Dressing
Collagen Dressing
Others
Wound Therapy Device
Negative Pressure Wound Therapy (NPWT) Device
Oxygen & Hyperbaric Oxygen Equipment
Electrical Stimulation Device
Others
Active Wound Care Product
Artificial Skin and Skin Substitutes
Topical Agents
On the basis of the application, advanced wound care market is segmented as:
Surgical and Chronic Wounds
Ulcers
Burns
Others
On the basis of the end-user, advanced wound care market is segmented as:
Hospitals
Clinics
Home health care
Community Medical Centres
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The advanced wound care market consists a group of competing technologies like hyperbaric oxygen therapy devices, advanced technologies in wound dressing, biologics/bioactive products, and Negative Pressure Wound Therapies (NPWT). As the technology becomes progressive and viable, it improves quality of life of the patients. Conventional wound care products are being substituted by the advanced wound care products owing to their effectiveness and efficacy in the management of wounds by enabling speedy healing.
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Based on geographical regions, the advanced wound care market is segmented as Europe, North America, Latin America, Asia-Pacific and The Middle East & Africa. North America is dominating the advanced wound care market having highest market share globally followed by Europe & Asia-Pacific regions. The Asia-Pacific is considered as the fastest growing market because of having fast untapped developing economies but lacking in awareness regarding the wound care management and high price is hampering advanced wound care market growth in countries like China, Brazil, India, and others.
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Some of the players in global advanced wound care market are Oculus Innovative Sciences, Coloplast Corporation, Medtronic, Integra Life Sciences Corporation, Smith and Nephew plc, Mo-Sci Corporation, Organogenesis Inc., Molyncke Health Care, Acelity L.P. Inc., Derma Sciences Inc. and Hollister Incorporated, DeRoyal Industries Inc., DermaRite Industries LLC., TriStar Wellness Solutions.
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