According to study, “China Wound Care Product Market
(2018-2023)” some of the major companies that
are currently working in the China wound care product market are Smith &
Nephew, Molyncke Healthcare AB, Coloplast Corporation, Acelity L.P. Inc., Convatec,
Baxter International, Teleflex Inc., Kinetic Concepts Inc., Beiersdorf,
Medtronic / Covidien, Coloplast, Johnson & Johnson Pvt. Ltd. These key
players are progressively focusing on offering well-established products. The major
vendors started increasingly competing against each other, which are based on
factors such as features, price and product quality.
Wound care products
are used for wound healing, decreasing tissue loss, minimizing scar formation
and facilitating hemostasis. They protect deeper tissues from chemical damage
(acids & bases), thermal injury (heat & cold) mechanical injury (bumps
& cuts), bacterial injury and ultraviolet radiation (sunlight) etc.
Wound care products are classified
into surgical staples, wound care strips, sutures, hemostats and adhesives
& tissue sealants. Additionally, they include therapy devices such as
negative pressure wound therapy device (NPWT), oxygen & hyperbaric oxygen
equipment, electrical stimulation devices and cutting edge wound therapy
device.
Some of the key products include
advanced wound care, wound therapy devices, surgical wound care, active wound
care products and traditional wound care. Advanced wound care product is
segmented into foam dressings, advanced wound dressings, hydrocell foam
dressings, alginate dressings, collagen dressings, hydrogel dressings, others.
The wound therapy devices product includes negative pressure wound therapy
device (NPWT), oxygen & hyperbaric oxygen equipment, electrical stimulation
devices,cutting-edge wound therapy device and others. Surgical wound care
includes staples, sutures and glues. An active wound care product issegmented
into artificial skin, topical agents and skin substitutes etc. In addition, traditional
wound care includes dressing, compression bandages, tapes, gauge, disinfectants
and plasters.
On the basis of end user, the
market is segmented into long-term care facilities, hospitals & specialty
clinics and home healthcare. The applications market has been segmented on the
basis of the demand for the wound care product includes burn, wounds, trauma,
ulcers and wounds. Based on type wound care product is defined by acute wound
are and chronic wound care. Acute wounds passes through normal therapeutic
process whereas chronic wounds fail to passes through normal therapeutic
process.
The market is mainly driven by increasing
incidence of chronic and acute diseases like ulcers, and obesity. Increasing in
the number of surgeries, growing middle class families, increasing disposable
income, increasing in aging population, rise in technological advancements,
increasing in diabetes population, increasing number of lifestyle diseases,
rising in chronic wounds & ulcers and government regulations significantly
led to the growth of the market. Apart from advantages, price sensitivity is
one the major challenge of wound care product market. In addition, some
restraints factors include lack of proper reimbursement policies, expensive
procedures and reluctance in acceptance of new technologies etc.
In 2018, it is estimated that more
than 9% of the population is suffer from diabetes, in China. In the future, it
is expected that new participants will come in the forecast period will provide
the financial support to the market for more advancement in the technology and
to increase the effectiveness of the wound care product. The effective
strategies and development in the technology for manufacturing the wound care
product are expected to grow significantly in the coming years. It is expected
that the wound care product market will be register a single digit growth over
the upcoming years.
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