The Global Wound Care Devices Market is expected to rise at a healthy CAGR of 5.1% between 2017 and 2025 as per a new report by Fortune Business Insights. Fortune Business Insights in a report, titled “Wound Care Devices Market: Global Market Analysis, Insights and Forecast, 2018-2025” provides insights on factors enabling growth in the market. As per the report, the market was valued at US$ 1994.8 Mn in 2017 and is projected to reach a valuation of US$ 2949.2 Mn by 2025.
KEY COMPANIES COVERED IN THE REPORT
- Smith & Nephew
- KCI Licensing, Inc.
- Talley Group Ltd
- Cardinal Health
- Devon Medical Products
- BSN medical
- Medela AG
- Other Prominent Players
Increase in Governments Spending to Fuel Demand for Wound Care Devices
The rising prevalence of chronic diseases such as diabetic foot ulcers among the geriatric population and obesity is enabling growth in the market. This will further fuel the demand for wound care therapies and wound care medical devices. As diabetic foot ulcers take time to heal, wound care products help to reduce the healing time and improve the patient’s quality of life. In addition to this, the rising awareness about hygienic conditions among patients is escalating demand for wound care devices. The growth of the market is boosting on account of rising per capita expenditure on healthcare and disposable income especially in developing countries.
Growing demand for anti-infective wound dressings such as iodine-based and plant-based to treat chronic wounds is trending. This is expected to drive the global market during the forecast period. The wound care devices market is likely to witness growth opportunities as a result of increased healthcare spending by governments across regions. In addition to this, the launch of novel wound care therapies such as nanotechnology, electromagnetic therapy, and electrical stimulation is likely to increase adoption of wound care devices in the years to come.
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