Medical Newswire

Medical Newswire!

Medicine, Healthcare, Medical Research, Hospitals, Management
Press release distribution service
Home | Medical-Newswire.Com:

Canada Advanced Wound Care Market, Size, Share, Outlook and Growth Opportunities 2019-2026

 



(Medical-NewsWire.com, March 26, 2020 ) Market Overview
• The Canada Advanced Wound Care Market is expected to grow at a CAGR of 5.0% during the forecasting period (2019-2026). Canada’s per-capita consumption and spending on advanced wound care are one of the highest in the world. As a consequence of the strong economic growth, growing prevalence of chronic wounds, and an increasingly aging population wound care expenditure in Canada has almost doubled over the last decade. The total wound care expenditure currently stands at around USD 3,500 million, or 0.2% of GDP, and is projected to reach USD 4,200 million by 2022.
• As the population ages, Canada's universal healthcare system will require extensive reforms to address the long-term needs of wound management in terms of affordability and accessibility. Canada has some of the highest medical expenses for advanced wound care dressing in the world, partially because advanced wound dressings are not subject to the stringent pricing regulations as other medical devices.
• The advanced wound dressing market is expected to grow as the government encourages its usage and as quality perceptions increase among patients. The Decline in sales of conventional dressing will also bolster the growth of this segment.

Download free sample: https://www.datamintelligence.com/download-sample/canada-advanced-wound-care-market

Market Segmentation
• By product, the Advanced Wound Care Market is segmented into Exudate Management, Infection Management, Skin Substitutes, Therapy Devices, Compression Bandage, Hemostatic Dressing, and Nano Fibre Dressing. The exudate management market is estimated to grow at a CAGR of XX% in the forecasted period to reach a market value of USD XX by 2026 from an initial market value of USD XX million in 2018. Exudate management accounts for XX% of the total advanced wound care market in 2018. Foam dressing accounts for the largest share in the exudate management followed by alginate. Silicone Dressing is the fastest growing market in the forecasted period. Exudate is the fluid leaking from the wound, which has a vital role in the healing process. It is mainly water but also consists of nutrients, proteins, waste products and various types of cells such as platelets and macrophages. Exudate management is essential as it avoids significant pain, discomfort, and suffering of the patient due to wounds; helps create an optimal environment for wound healing; and, prevents the risk of infection.
• The hydrogel wound care market is estimated to grow at a CAGR of XX % in the forecasted period to reach a market value of USD XX million by 2026 from an initial market value of USD XX million in 2018. Hydrogels are multifaceted hydrophilic, organic-based, cross-linked polymers consisting of an 85%–90% water. The hydrogels are available in a fixed flexible sheet form or free-flowing amorphous gel.
• The growing prevalence of diabetic patients with ulcer and wound disorders and an increasing number of traumatic injuries, especially severe burn injuries, led to the significant requirement of hydrogel dressings for wound management.
• In addition, increasing acceptance of hydrogel dressings as a substitute for conventional gauze for wound management is one of the key drivers of the market.
• Moreover, technological innovation in wound care techniques, specifically, stimulus- activated amorphous hydrogels for preventing bleeding in severe trauma cases further complement the market growth.
• Factors limiting the market growth are the high expenses related to the manufacturing of hydrogel dressings and an extensively long period to market pipeline products.


Market Drivers and Restraints
• Rising Prevalence of Diabetes
• The high cost of Advanced Wound Care Products
• Advancement in Technologies
• There has been a significant rise in the number of chronic diseases, especially diabetes, which is considered to be one of the major segments demanding advanced wound care products.
• According to the Canadian Diabetes Association (CDA), in 2019, the prevalence of diabetes in Canada is close to 10%, and it is estimated that >1.5 million individuals are living with undiagnosed diabetes. Within the next decade, it is expected that the prevalence of diabetes will jump to >11% and costs associated with diabetes are expected to rise to $39 billion.
• This huge population of diabetes would also face various diabetic complications such as diabetic ulcers, peripheral vascular neuropathy, and diabetic neuropathy.
• In 2017, 7.3% of Canadians aged 12 and older (roughly 2.3 million people) reported being diagnosed with diabetes. Between 2016 and 2017, the proportion of males who reported being diagnosed with diabetes increased from 7.6% in 2016 to 8.4% in 2017.
• Canadians with type 1 diabetes have been living with their diagnosis for an average of 20.2 years, compared to 12.2 years for type 2 diabetes.
• Patients with diabetes and obesity often have the risk of multisystem disorder, with implications for acute and chronic wounds and a slower wound healing process.
• Chronic wounds can have complications like infection, ulceration, and insufficient blood supply that may take years to heal the wound.
• All these complications would demand advanced wound care products. Thus, a growing number of chronic diseases in Canada are
• expected to increase the expenditure on healthcare services and propel the growth of the wound care market.

View full report: https://www.datamintelligence.com/research-report/canada-advanced-wound-care-market

Enquiry before buying: https://www.datamintelligence.com/enquiry/canada-advanced-wound-care-market

About Us
DataM Intelligence was incorporated in the early weeks of 2017 as a Market Research and Consulting firm with just two people on board. Within a span of less than a year we have secured more than 100 unique customers from established organizations all over the world.

For more information:
Sai Kiran
Sales Manager at DataM Intelligence
Email: info@datamintelligence.com
Tel: +1 877 441 4866
Website: www.datamintelligence.com


DataM Intelligence

Sai Kiran

+1 877 441 4866

pr@datamintelligence.com

Source: EmailWire.Com

Source: EmailWire.com


Medical Resources
We are pleased to offer you this exciting, new, and entirely free professional resource. Visit our Free Healthcare resource center today to browse our selection of 600+ complimentary Healthcare magazines, white papers, webinars, podcasts, and more. Get popular titles including:

Eyecare Business
Medical Laboratory Observer
FierceHealthcare

No credit cards, coupons, or promo codes required. Try it today!

Medical Sponsors

Health News


Pharmanewswire.com is part of GropWeb Network, online properties of GroupWeb Media LLC. Copyright © GroupWeb Media LLC. All Rights Reserved.

For unlimited press release distribution for $99 per month, call (281) 645-4086 or start posting your press releases online at EmailWire.com. CityRegions.Com is part of GropWeb Network, online properties of GroupWeb Media LLC. Copyright © 2012 GroupWeb Media LLC. All Rights Reserved.


GroupWeb Media Network
AfricaNewswire.Net | AppleNews247.Com | AsiaNewsWire.Net | Aviation-NewsWire | Energy Industry | EstateNewsWire | Entertainment-NewsWire.com | Food Beverage News | Glamour NewsWire | Health NewsWire | Hosting NewsWire | i-Auto NewsWire | i-Business News | EuropeNewsWire.Net | iCameroon.com | i-Canada-News.Com | i-SoftwareNews.com | iT-NewsWire.Com
| InvestorsNewsDesk.Com | i-TravelNewsWire.Com | LegalLaw247.com | Medical-NewsWire.com | MiningNewsWire.net | MoneyNewsWire.Net | Movie-Stars-News.Com | PayDayNews247.Com | PharmaNewsWire.Com | Publishing-NewsWire.Com | Shopping-NewsWire.com | Telecom-NewsWire.Net | Transportation-News.Com | USGovernment-News.Com | WebPosters.Net | Wireless-NewsWire.Com |
Medical-Newswire.com - Medicl Newswire and Press Release service of GroupWeb Media LLC