ALBANY, New York, December 4, 2017 /PRNewswire/ --
As competition soars, companies such as Smith & Nephew plc, Zimmer Biomet, Lohmann & Rauscher International DeRoyal Industries, Inc., BSN Medical, Misonix, Söring GmbH, Arobella Medical, LLC, and Derma Sciences Inc., among others are toying with various idea to buoy growth. Strategic collaborations for instance have proven a popular tactic among companies to gain competitive edge. With mergers and acquisitions, the market players can expect foraying in unexplored regions, in turn expanding their footprint as well as product portfolio. Some of the leading companies are also investing in research and development for robust product launches. Such strategies adopted by the market players are likely to influence the global wound debridement market significantly, finds Transparency Market Research (TMR) in a new study.
According to TMR, the global wound debridement market was valued at US$1,750 mn in 2016. Exhibiting a CAGR of 6.4% between 2017 and 2025, the market is expected to reach US$3,044.8 mn by the end of 2025. Based on type of wound, the chronic wounds segment exhibited high demand in the global market in 2025. By the end of 2017, the market is likely to witness North America emerge dominant. However, during the course of the forecast period, Asia Pacific is expected to showcase strong growth.
Despite Several Positive Impacts Stringent Approval Norms May Threaten Market
The global wound debridement market is expected to grow at a steady pace on account of the increasing prevalence of infectious diseases. Besides this, growing investment by the prominent market players and improving healthcare infrastructure worldwide, especially in developed nations will pave the way for the market's steady growth in the coming years. This holds true in case of growth scenario offered by nations across the Middle East and Africa and Latin America. Conversely, stringent norms of approval implemented by Ministry of Public Health, besides numerous registration regulations to get commercialization objectives a nod are key challenges witnessed by the market at present.
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In response to the rising geriatric population and the increasing incidence of chronic ailments, which may affect skin integrity leading to peripheral vascular diseases, the demand for preventive therapeutics is sure to rise. In addition, the rising incidence of diabetes is also factored in by experts analyzing the market's future. As skin breakdown is a frequent consequence of these diseases leading to chronic wound or formation of ulcers, the usability of wound debridement is expected to rise even further in the coming years. "Against this backdrop, experts foresee a considerable rise in the demand for wound debridement," said a lead TMR analyst.
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Rising Demand from Emerging Nations to Aid Growth
The expanding demographics and developing economies of India and China and several other emerging nations have created an environment conducive to the market's growth. In addition, the surging demand for apt wound bed preparation, advancements in debridement products, rising awareness, and the increasing popularity of wound care at home have enabled growth in the global wound debridement market. Also the increasing demand for preventing long stays at hospitals will have a positive influence in the overall wound debridement market.
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company's exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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SOURCE Transparency Market Research