Steady Demand in Developing Countries Drives the Global Traditional Wound Management Products Market, According to New Report by Global Industry Analysts, Inc.
GIA announces the release of a comprehensive global report on Traditional Wound Management Products markets. Global market for Traditional Wound Management Products is projected to reach US$8.3 billion by 2020, driven by steady demand from developing countries, growing preference for self-care, and rising incidence of lifestyle diseases such as diabetes.
San Jose, California (PRWEB) February 04, 2014
Follow us on LinkedIn – Adhesive bandages, topical ointments and gauzes constitute the most widely used traditional wound management products. While demand for adhesive bandages is largely being driven by first-aid treatments at homes for small cuts and bruises, use of gauze is mainly supported by their low cost and easy availability over-the-counter. Versatility is also one of the core attributes of gauze that has helped sustain its use over the years. While in hospitals they are generally used to cover surgical sites, at home they are used to cover scrapes or injuries on elbows or knees, or cuts on hands and fingers. Similarly, topical ointments are an ever-green traditional wound management solution, with their usage not only limited to treatment of minor injuries or acute wounds, but also for chronic wounds such as diabetic foot ulcers. Growing trend towards homecare as a result of increasing focus of the healthcare sector on reducing patient hospital stays, and increasing willingness of patients to recuperate in non-hospital settings particularly bodes well for the traditional wound management products market.
With the population of elderly expanding rapidly across the world, particularly in developed economies, aging population is emerging to be a strong growth driver in the market. With advancing age, incidence of various health ailments such as obesity and diabetes increases resulting in pressure and foot ulcers, which is fuelling the need for various wound management products. In conjunction with antibiotic treatments, traditional wound care forms the standard treatment approach for diabetic ulcers/wounds.
Against the backdrop of increased competition from advanced wound care products that offer faster wound healing benefits, traditional wound management products in developed countries continue to register tepid growth. In developing countries however, these products continue to be the mainstay of wound management given the limited accessibility to healthcare services, low costs of these products, and limited insurance coverage for advanced wound management solutions. Moreover, widespread lack of awareness over the availability of alternate advanced products among patients continues to benefit traditional wound care products.
As stated by the new market research report on Traditional Wound Management Products, Europe represents the largest market worldwide, while Asia Pacific ranks as the fastest growing market with a CAGR of 4.1% over the analysis period. Growth in Asia-Pacific is primarily supported by growing population, preference for affordable wound care solutions, and lack of awareness over alternate advanced wound management solutions.
Major players in the market include B.Braun Melsungen AG, Beiersdorf AG, Cremer S.A., Covidien plc, Derma Sciences Inc., Johnson & Johnson, Paul Hartmann AG, and Synergy Health Plc, among others.
The research report titled “Traditional Wound Management Products: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, drivers, challenges, issues, mergers, acquisitions and other strategic industry activities. The report provides market estimates and projections in US dollars for all major geographic markets including the US, Canada, Japan, Europe, Asia-Pacific, Latin America and Rest of World. Segments analyzed include Adhesive bandages, Topical Ointments and Gauzes.
For more details about this comprehensive market research report, please visit –
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
Global Industry Analysts, Inc.
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