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Wound care market to grow to $11 billion by 2017

Source:Ringier Medical     Date:2014-11-06
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NEW analysis from Frost & Sullivan, Global Wound Care Market Outlook, finds that the market earned revenues of $8.73 billion in 2013 and estimates this to reach $11.13 billion in 2017. Steady growth will be driven by the rapid rise in lifestyle diseases and the related risk of chronic wounds. The wound care market in this study included the traditional wound dressings, moist wound dressings, antimicrobial dressings, active therapies, and negative pressure wound therapy.

Immense opportunities will come from the public health sector, and the emergence of private funding and clinics will also add to demand. A burgeoning population, greater awareness among patients, and higher buying power will further push the market.

“The biggest opportunity for wound care manufacturers and suppliers will emerge from the public healthcare sector and hence, they must work closely with the government to determine and forecast demand in this sector,” noted Parthasarathy Raghava senior research analyst at Frost & Sullivan Healthcare.

“Players must also widen their product portfolio to gain consumers, particularly as public hospitals opt for bulk purchases to contain costs.”

The home care segment will be another key avenue for revenue generation for wound care solution providers in the global space. Enhancing brand loyalty by establishing a robust relationship with end users and an effective post-sales strategy will be the way forward for companies striving to carve a niche for themselves in the global market. 

Global Wound Care Market Outlook is part of the Advanced Medical Technologies Growth Partnership Service program from Frost & Sullivan.

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