• Global wound irrigation systems market revenue is expected to expand at a CAGR of 3.0% over the forecast period to reach value of US$ 310.9 Mn by 2027 end
• In terms of revenue, battery-operated wound irrigation systems is projected to remain the dominant segment by product type and it is expected to gain traction due to advanced features for wound care
• Chronic wound segment is expected to grow at a faster rate compared to acute wound segment over the next decade owing to rising prevalence of chronic ulcers such as diabetic foot ulcer and venous ulcer.
• Among all end users, hospital segment is the most dominant segment for wound irrigation systems market whereas home care settings is expected to be the fastest growing segment.
• North America is considered to be a lucrative marketplace for the global wound irrigation market and estimated to retain over 40.9% of the share of the market in terms of revenue during 2017
• Increased prevalence of chronic wounds and rising adoption of advanced wound care products are expected to propel the revenue growth of global wound irrigation systemsmarket.
Macro-economic Factors:
• Increasing Spending on Healthcare Per Capita
• Rising Government Support in Developed Economies
Opportunities:
• Emergence of e-commerce-based Distribution Channels
• Growing Demand for Advanced Wound Care in Homecare Settings
Trends:
• Growing Acceptance of Standardized Protocols to Manage Complex Wounds
• Collaborative Agreements Between Manufacturers and Channel Partners
Overall Market Approach:
• The increased adoption by various end use segments of e-commerce based channels and collaboration of leading manufacturers with various channel partners to drive sales and product reach is expected to positively impact the market for wound irrigation systems
• The incidence of acute and chronic wounds continue to grow at a rapid pace in U.S. and Canada. However, availability of several wound care and management methods is expected to lead to a modest growth for wound irrigation systems
Key Segments:
• Chronic wound segment is expected to gain more traction compared to acute wound owing to rising prevalence of chronic ulcers such as diabetic foot ulcer and venous ulcer
• Manufacturers are focusing on developing battery-operated portable systems which are more user friendly keeping in mind end use preferences
Target Country:
• The U.S. is a highly mature market due to which manufacturers of wound irrigation systems can expect limited market growth over the forecast period
• APEJ is expected to be the more lucrative market considering the untapped potential, leading to a higher growth rate over the forecast period
Differentiating Strategy:
• Manufacturers of wound irrigation systems are actively engaging in mergers, acquisitions and partnerships in order to strengthen their product portfolio and increase market share
• These companies are also focusing on development of novel wound irrigation systems to the enhance the healing time of chronic wound and burns and reduce the treatment costs
Source: futuremarketinsights.com
