Please Wait.....
Report
North America Wound Care Management Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023- 2028)
Market Report I 2023-01-23 I 85 Pages I Mordor Intelligence
North America wound care management market is expected to grow at a CAGR of 5.5% during the forecast period.
The Covid-19 pandemic created havoc in the North American healthcare system and impacted the studied market diversly during the initial phase. However, there was increasing research on the impact of Covid-19 on wound care and management in North America. For instance, as per an article published in Advances in Wound Care (AWC) Journal in May 2021, comorbidities like diabetes, vascular issues, hypertension, and other disease are linked to chronic non-healing wounds (CNHW). These risk factors put people with CNHW at a high risk of experiencing severe and fatal results from infection with the coronavirus two pathogens. Such instances increased the need for wound care and management during the pandemic in North America, positively impacting the market growth. Additionally, with surgeries coming to standard terms as pre-pandemic days, the demand for wound care and wound closure products is increasing. Therefore, the pandemic has significantly and considerably impacted the studied market growth.
The increasing geriatric population and rising incidences of chronic wounds are the primary factors contributing to the market growth. For instance, according to an article published in the WRR journal in February 2022, the incidence of chronic wounds is high and increasing, while venous ulcers and active or healed wounds are present in 1% of the population in the United States. In addition, several other sources also mentioned that chronic injuries commonly occur in 1 to 2 per 100,000 population in the United States. This incidence will lead to increased adoption of wound care and management products in the United States, driving the growth of the studied market. ?
Furthermore, as per the ITF's road safety report-2021, Mexico recorded 13,630 road fatalities at a rate of 10.5 per 100,000 inhabitants in 2020. Therefore, the burden of road accident cases and injuries within Mexico is growing. As accidents and injuries require dressings and stitching for wound healing purposes, the burden of injuries in the country is estimated to boost the demand for wound closure and wound care products, which is expected to fuel the overall market growth.
Therefore, due to the factors mentioned above, the studied market is expected to grow significantly during the study period. However, the high cost of the procedures is expected to restrain the market growth.
North America Advanced Wound Care Management Market Trends
Suture Sub-segment by Wound Closure Segment is Expected to Grow Over the Forecast Period
A suture refers to any strand of material that is used to litigate blood vessels or tissues to close a surgical site. The type of material used primarily decides the level of sutures layers be done by a specialty doctor. Owing to the increasing cases of injuries and the geriatric population prone to injuries and burns, the demand for wound closure and suturing is increasing. This contributes to segment growth.
According to an article published in Polymers Journal in April 2022, with the increasing demand for wound healing and wound care management, the level of medical equipment is also increasing. But sutures remain the most preferred medical equipment for medical personnel for wound closures. Thus, with an increasing demand for surgeries related to trauma and injury cases in North America, the demand for suture devices is increasing. Thereby, driving the segment growth.
In addition, according to April 2021 update by McGill University, sutures are intended to close wounds and speed up the natural healing process, but their stiff fibers can damage delicate tissues. And to solve this issue researchers from Montreal, Canada have created novel tough gel sheathed (TGS) sutures that were designed to address the issue and were inspired by the human tendon. These next-generation sutures can deliver drugs, prevent infections, and monitor wounds. Thus, such developments are expected to fuel segment growth. Therefore, owing to the factors mentioned above, the segment is anticipated to witness growth over the forecast period.
United States is Expected to Have a Significant Market Share Over the Forecast Period
The United States is expected to dominate the overall market throughout the forecast period. The major factors attributing to the growth are the growing prevalence of injuries, trauma, and the increase in the geriatric population.
The growing geriatric population in the United States contributes to the growth of surgical sutures as they contribute to a more significant number of age-related injuries and wounds leading to surgeries. As per the April 2022 update by the Administration of Community Living (ACL), in the United States, the number of people above 65 years of age is projected to reach 80.8 million by 2040 and 94.7 million by 2060, an increase from 54.1 million in 2019. Hence, increasing geriatrics is expected to create demand for wound care products. This is expected to further the market's growth in the United States, fuelling the overall market growth over the forecast period.
In addition, as per the article Advances in Wound Care (AWC) journal published in May 2021, nearly 2.5% of the United States population suffers from chronic wounds that reduce their quality of life (QoL), and managing injuries has a substantial financial impact on healthcare. This shows a high burden of chronic wounds in the country. This is further expected to contribute to the market growth in the country. Thus, the market is expected to witness a high growth rate over the forecast period due to the aforementioned factors in the United States.
North America Advanced Wound Care Management Market Competitor Analysis
North America wound care management market is competitive and consists of several significant players globally. The key players are developing novel products to compete with the existing products, while others are acquiring and partnering with the other companies trending in the market to expand their global presence. Some of the market players in the studied market are 3M, Baxter, Coloplast, ConvaTec Group PLC, Hollister Incorporated, Integra LifeSciences, Johnson & Johnson (Ethicon), Molnlycke Health Care, Smith + Nephew, Medtronic, Becton, Dickinson and Company, and Cardinal Health, among others.
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increase in the Geriatric Population
4.2.2 Rising Incidences of Chronic Wound
4.3 Market Restraints
4.3.1 High-cost and Risk associated with Advanced Products
4.4 Porters Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION (Market Size by Value - USD million)
5.1 By Product
5.1.1 Wound Care
5.1.1.1 Dressing
5.1.1.2 Bandages
5.1.1.3 Topical Agents
5.1.1.4 Wound Care Devices
5.1.2 Wound Closure
5.1.2.1 Suture
5.1.2.2 Surgical Staplers
5.1.2.3 Tissue Adhesive, Sealants and Glue
5.2 By Wound Type
5.2.1 Chronic Wound
5.2.1.1 Diabetic Foot Ulcer
5.2.1.2 Pressure Ulcer
5.2.1.3 Arterial and Venous Ulcer
5.2.1.4 Others
5.2.2 Acute Wound
5.2.2.1 Surgical Wounds
5.2.2.2 Burns
5.2.2.3 Others
5.3 Geography
5.3.1 United States
5.3.2 Canada
5.3.3 Mexico
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 3M
6.1.2 Baxter
6.1.3 Coloplast
6.1.4 ConvaTec Group PLC
6.1.5 Hollister Incorporated
6.1.6 Integra LifeSciences
6.1.7 Johnson & Johnson (Ethicon)
6.1.8 Molnlycke Health Care
6.1.9 Smith + Nephew
6.1.10 Medtronic Plc
6.1.11 Becton, Dickinson and Company
6.1.12 Cardinal Health
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
- Not Sure / Need Reassuring
- Confirm Content
-
Content is provided by our partners and every effort is made to make Market Report details as clear as possible. If you are not sure the exact content you require is included in this study you can Contact us to double check. To do this you can:
Use the ‘? ASK A QUESTION’ below the license / prices and to the right of this box. This will come directly to our team who will work on dealing with your request as soon as possible.
Write to directly on support@scotts-international.com with details. Please include as much information as possible including the name of report or link so our staff will be able to work on you request.
Telephone us directly on 0048 603 394 346 and an experienced member of team will be on hand to answer.
-
- Sample Pages
-
With the vast majority of our partners we can obtain Sample Pages to support your decision. This is something we can arrange without revealing your personal details.
It is important to note that we will not be able to provide you the exact data or statistics such as Market Size and Forecasts. Sample pages usually confirm the layout or the Categories included in Charts and Graphs, excluding specific data.
To ask for Sample Pages by contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Check for Alternatives
-
Whilst we try to make our online platform as easy to use as possible there is always the possibility that a better alternative has not been found in your search.
To avoid this possibility Contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346 and a Senior Team Member can review your requirements and send a list of possibilities with opinions and recommendations.
-
- Confirm Content
- Prices / Formats / Delivery
- Prices
-
All prices are set by our partners and should be exactly the same as those listed on their own websites. We work on a Revenue share basis ensuring that you never pay more than what is offered elsewhere.
Should you find the price cheaper on another platform we recommend you to Contact us as we should be able to match this price. You can Contact us though through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Discounts
-
As we work in close partnership with our Partners from time to time we can secure discounts and assist with negotiations, this is part of our personalised service to you.
Discounts can sometimes be arranged for speedily placed orders; multiple report purchases or Higher License purchases.
To check if a Discount is possible please Contact our experienced team through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Available Currencies
-
Most Market Reports on our platform are listed in USD or EURO based on the wishes of our Partners. To avoid currency fluctuations and potential price differentiations we do not offer the possibility to change the currency online.
Should you wish to pay in a different currency to that advertised online we do accept payments in USD, EURO, GBP and PLN. The price will be calculated based on the relevant exchange rate taken from our National Bank.
To pay in a different above currency to that advertised online please Contact our team and a quotation will be sent within a couple of hours with payment details.
-
- Licenses
-
License options vary from Partner to Partner as is usually based on the number of Users that will benefitting from the report. It is very important that License ordered is not breached as this could have potential negative consequences for you individually or your employer.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Global Site License
-
The Global Site License is the most comprehensive license available. By selecting this license, the Market Report can be shared with other ‘Allowed Users’ and any other member of staff from the same organisation regardless of geographic location.
It is important to note that this may exclude Parent Companies or Subsidiaries.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Formats
-
The most common format is PDF, however in certain circumstances data may be present in Excel format or Online, especially in the case of Database or Directories. In addition, for certain higher license options a CD may also be provided.
If you have questions or need clarification about the specific formats we recommend you to Contact us and a detailed explanation will be provided.
-
- Delivery
-
Delivery is fulfilled by our partners directly. Once an order has been placed we inform the partner by sharing the delivery email details given in the order process.
Delivery is usually made within 24 hours of an order being placed, however it may take longer should your order be placed prior to the weekend or if otherwise specified on the Market Report details page. Additionally, if details have been not fully completed in the Order process a delay in delivery is possible.
If a delay in delivery is expected you will be informed about it immediately.
-
- Shipping Charges
-
As most Market Reports are delivered in PDF format we almost never have to add additional Shipping Charges. If, however you are ordering a Higher License service or a specific delivery format (e.g. CD version) charges may apply.
If you are concerned about additional Shipping Charges we recommend you to Contact us to double check.
-
- Prices
- Ordering
- By Credit Card
-
We work in Partnership with PayU to ensure payments are made securely in a fast and effortless way. PayU is the e-payments division of Naspers.
Naspers operates in over 133 International Markets and ranks 3rd Globally in terms of the number of e-commerce customers served.
For more information on PayU please visit: https://www.payu.pl/en/about-us
-
- By Money Transfer
-
If you require an invoice prior to payment, this is possible. To ensure a speedy delivery of the Market Report we require all relevant company details and you agree to maximum payment terms of 30 days from receipt of order.
With our regular clients deliver of the Market Report can be made prior to receiving payment, however in some circumstances we may ask for payment to be received before arranging for the Market Report to be delivered.
-
- By Credit Card
- Security
- Website security
-
We have specifically partnered with leading International companies to protect your privacy by using different technologies and processes to ensure security.
Everything submitted to Scotts International is encrypted via SSL (Secure Socket Layer) and all personal information provided to Scotts International is stored on computer systems with limited access in controlled environments.
-
- Credit Card Security
-
We partner with PayU (https://www.payu.pl/en/about-us) to ensure all credit card payments are made securely in a fast and effortless way.
PayU offers 250+ various payment channels and eWallet services across 4 continents allowing buyers to pay electronically, whether on a computer or a mobile device.
-
- Website security