Healing Wounds is not painful anymore!

There was a time when chronic wounds led to death of the people. Science was not advanced to cure wounds that were fatal in nature. However, with advancement in science, new and effective treatment for chronic diseases is readily available today.  Such advance wound care & closure market is rapidly growing due to the ineffective wound treatment.

Allied Market Research has made a thorough study in this market to come up with some concrete facts and figures, which would provide a support to the market participants in chalking out strategies. The report expects the market to reach $20.5 billion by 2020 with a respectable CAGR of 8.0% from 2014 to 2020.

Are you wandering what makes the market grow at the speed of light? Here are the major drivers:-

 

• Ineffective traditional wound care & closure products
• Rising cases of chronic diseases
• Rising demand to reduce surgical cost
• Growing demand for products that improve therapeutic results

 

As every coin has two sides, this market also has some loopholes, which restrict its growth. Two major challenges faced by the market are:-

 

• High cost 
• Weak reimbursement policy

 

Three segments of the global advanced wound care and closure market are Type, Applications, End Users and Geography.
 

Types:

• Advanced wound closure market
• Advanced wound care market

 

Applications:-

 

• Burns
• Ulcers
• Surgical Wounds

 

End Users:-

 

• Hospitals & community healthcare services
• Home healthcare

 

The market for ulcer treatment would shoot up to $7.8 billion by 2020.

 

The geographical market consists of North America, Europe, Asia-Pacific and LAMEA. North America leads the market, followed by Europe. However, rising medical tourism in Asia Pacific region would prove to be beneficial for the market growth.

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