According to the new market research report by IndustryARC titled “Bioactive Wound Care Market: By First Line Interactive Dressing (Foams, Alginates, Hydrogel, Hydrocolloids, Collagen); By Second Line Interactive Dressing (Honey, Hydrofiber, Silicon, Silver); By Geography - (2018-2023)
”, the market is largely driven by the increasing adoption of Bioactive Wound Care products by different age groups.
Browse 13 Market Tables, 52 Figures spread through 124 slides and an in-depth TOC on “Global Bioactive Wound Care Market (2018 - 2023)”
APAC continues to lead the market share during 2018-2023.
The North American region is the biggest market in terms of revenue for bioactive wound care and it continues to grow strong as compared to the major economies in Europe and Asia. The North American region has witnessed such strong growth because of high incidence of chronic and acute wounds such as diabetic foot ulcers, venous leg ulcers and pressure ulcers. The healthcare spending in the region is one of the main factors for the growth of the market. The patients are able to afford bioactive wound dressings due to high disposable income. The rise in geriatric population and high incidence of chronic wounds has propelled the demand for bioactive wound care. Europe has been slowly gaining pace in the Bioactive Wound Care market. The European market is still in its nascent stage and there are multiple factors that have hindered the growth of the market. The major factor is the lack of clinical trials in Europe for bioactive wound dressings.
On the other side, the Asia-Pacific is projected to register highest growth rate with 8.15% CAGR for the Bioactive Wound Care Market, throughout the forecast period. Asia Pacific is the most promising avenue for global Wound Care market and the next wave of growth will occur in countries such as Australia, Japan and India. The regulatory scenario is not as stringent as in the US and UK. The opportunities to invest are seamless, with an improving health-care infrastructure. The geriatric population is on the rise in countries such as China. The aging population is an important customer base for the global wound care market.
The Value Chain of Bioactive Wound Care market comprises of numerous stakeholders who have an impact on the overall process. These stakeholders have individual roles to play which shall help to attain an efficient Value Chain. The various stakeholders are Consumer, Manufacturer, Hospitals, Clinics, Pharmacy Shops, Regulatory Bodies/ Associations, Health Ministry, NGO’s, Product Wholesalers and Product Distributors.
Value Chain Analysis is of high importance to understand how the market functions from the point of respective stakeholders. In the bioactive wound care market, the value addition takes place at different points of the value chain. The regulatory bodies such as FDA and European Union have different mandates for the selection of the product. Most of the bioactive wound dressings pass through 510 k regulatory pathway in US. The health ministry supports the growth of the market by implementing reimbursement policies. The product wholesalers and product distributors are one of the key components of the entire value chain. They are the connecting link between the manufacturer and the end consumer. The bioactive wound care market is in a continual state of transformation. The manufacturer associates with the market in a close manner so as to understand the market dynamics and changing consumer preferences. The company makes an effort to bring new and innovative products in the market to meet consumer demand. The Hospitals, Clinics and Pharmacy Shops make the product available for the end consumer. The consumer can purchase the product from pharmacy shops. In case of an emergency, clinics provide the bioactive wound dressings to provide immediate treatment. The connection between each stakeholder can be observed from the figure above, and the flow of value from the start of the value chain till the end is self-illustrative.
Excerpts on Market Growth Factors Mentioned in the Full Report
- Rise in geriatric population across all over the world results in the demand for bioactive wound dressings that in turn escalates the demand and growth of the Bioactive Wound Care Market.
- The increasing number of patients who require wound care is a major factor that is driving significant growth for the Bioactive Wound Care Market.
Key Players of the Bioactive Wound Cares Market
The major key players of the Bioactive Wound Cares Market includes Smith & Nephew, Acelity, Coloplast, Convatec and 3M Health-care. These 5 companies contributed 72% of the total market share. This is evident from the fact that these companies invest heavily in R&D and bring out better products in the market. Among the top 5 companies, Smith & Nephew is the dominant company owing to a wide product line and wide distribution network. The high number of new product launches is a part of customer acquisition and retention strategy. The advent of new players into the market will push forward the innovations which will help in delivering better and effective products to the customers. Also, recently, Acelity Inc. launched TIELLE9r0 non adhesive dressing in Europe, after its successful run in North America. Integra Lifesciences launched Integra® Wound Matrix.
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