Facts and Factors Market Research has published a new report titled “Specialty Surgical Wound Care Products Market By Product Type (Absorbable Hemostats, Glues, Adhesion Prevention Products, and Sealants), By End-User Type (Ambulatory Centers, Hospital, Home Healthcare, and Long-Term Care), By Therapeutic Areas (Abdominal, Vascular Surgery, Breast/Plastic, Orthopedic, Cardiothoracic, Pediatric, and Obstetric), and By Application (Alleviate Wound Pain, Stop Wound Bleeding, and Heal Wound): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018 – 2027”. According to the report, the global Specialty Surgical Wound Care Products market is predicted to be valued at approximately USD 3,970 million in 2018 and is expected to reach a value of around USD 6,673 million by 2027, at a CAGR of around 5.92 % between 2019 and 2027.
Specialty surgical wound care products are producing new value for the customers in the medical devices industry. The massive product demand and competitive pricing have forced the manufacturers to coin new business strategies for attracting & retaining the end-users. Moreover, firms in the specialty surgical wound care products business adopt the lean selling model of business for effectively handling the products on the verge of the end of their product life-cycle with the launching of new products. Furthermore, these products are created for treating complicated wounds caused during surgeries. They are sterile wound care preparations.
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Growing healthcare concerns to drive the market trends
The surge in the growth of the specialty surgical wound care products industry over the forecast period is due to an increase in the incidences of obesity along with surging healthcare concerns. Additionally, a rise in the number of hospitals & clinics is expected to open new vistas of growth for the specialty surgical wound care products industry over the timespan from 2019-2027. Continuous innovation in the product will further embellish the business growth over the forecast timeline.
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Furthermore, the rise in the cases of diabetes, as well as related chronic diseases, will further accelerate the growth of the market over the forecast timeline. The bulge in the cases of chronic wounds & infections caused during the surgeries in hospitals or clinics is likely to produce new facades of growth for the industry over the forecast timeline. Inflation witnessed in the number of acute wounds, burn incidences, and trauma will create lucrative product demand over the forecast timeline.
Moreover, the rise in the intake of junk foods, as well as binge eating, will further accelerate the expansion of the market during the period from 2019 to 2027. In addition to this, lack of regular exercise and increase the stress levels can also result in the market growth over the forecast timeline. Nevertheless, huge costs of specialty surgical wound care equipment will hinder the expansion of the industry over the forecast period. However, massive demand for specialty surgical wound care products in long-term care units, home healthcare, and ambulatory centers will not only enlarge the business scope but will generate lucrative growth avenues for the market during the forecast timeline.
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Absorbable Hemostats to lead the product type segment in terms of revenue
The growth of the absorbable hemostats segment during the forecast period is owing to a prominent rise in the proportion of surgical operations, large-scale healthcare spending, and technological innovations. This product type is used during the surgery for controlling bleeding from fistula puncture locations and acquiring homeostasis at the time of vascular surgery.
Ambulatory centers segment to record highest CAGR over the forecast period
The ambulatory centers segment is set to register the highest growth rate of more than 7% during the period from 2019 to 2027. The segmental growth is owing to the high usage of specialty surgical wound care products in the ambulatory centers.
North America to account for the major market revenue share by 2027
The growth of the market in the region during the forecast timeline is owing to a rise in the number of well –equipped & more advanced ambulatory surgery centers in countries like the U.S. Apart from this, the high presence of product manufacturers in countries like the U.S. is anticipated to boost the regional market growth during the forecast timeline.
Some of the key participants in the business include 3M Company, Acelity, Aspen Medical Europe Ltd., Baxter, C. R. Bard, Inc., Cesca Therapeutics Inc., Coloplast Pty Ltd., CSL Behring ApS, DUKAL Corporation, Integra LifeSciences Corporation, Medline Industries, Inc., Medpace, Medtronic, Mölnlycke Health Care, Neomend Inc., Pfizer Inc., Stryker, and Tricol Biomedical.
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This report segments the Specialty Surgical Wound Care Products market as follows:
Specialty Surgical Wound Care Products Market: By Product Type Analysis
- Absorbable Hemostats
- Adhesion Prevention Products
Specialty Surgical Wound Care Products Market: By End-User Type Analysis
- Ambulatory Centers
- Home Healthcare
- Long-Term Care
Specialty Surgical Wound Care Products Market: By Therapeutic Areas Analysis
- Vascular Surgery
Specialty Surgical Wound Care Products Market: By Application Analysis
- Alleviate Wound Pain
- Stop Wound Bleeding
- Heal Wound
Specialty Surgical Wound Care Products: By Regional Segment Analysis
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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