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(Medical-NewsWire.com, July 06, 2017 ) People who are afflicted with chronic wounds, which take significant amount of time to heal and are expensive to treat have received a much-needed relief in the form of Advanced Wound care products. Technology has leapfrogged in this area. Advanced wound care products are being preferred to traditional wound care products due to their effectiveness in enabling faster healing.
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Advanced Wound care market caters feasible and user-friendly products to the afflicted patients. Treatment in advanced wound care includes interventions therapies and products such as collagen products, foam dressings, hydrocolloids, alginate dressings, gauze composites, and hydrogels among others. As technology advances and becomes a much more viable option, the quality of life of patients afflicted with chronic wounds in Europe rises.
The European market is mainly driven by Increasing Aging Population, Growing Incidences of Chronic Wounds and diabetes, technological advances, Increasing Hospital costs, and policies undertaken by the government. Reimbursement issues and cost issues serve as factors which hinder the market in Europe.
The Europe advanced wound care market has been segmented on the basis of type, end users and application. By type, the global advanced wound care market is segmented into dressings, therapy devices, and active wound care. The dressing segment accounts for the largest portion of the Europe market. However, active wound care is the fastest growing segment in this category. On the basis of the end user, the market is further segmented into inpatient services and outpatient services. The inpatient facilities segment grabs the largest chunk of the European market. However, outpatient service is the fastest growing segment in this category. On the basis of application, the market is divided into skin ulcers, surgical wounds, and burn wounds. The surgical wounds segment leads the Europe market. However, skin ulcer is the fastest growing segment in this category.
The European market is geographically segmented into Germany, France, Spain, Italy, U.K, and others. Europe has the second largest market for Advanced Wound care products, after North America. Factors, such as rising incidences of diabetes, technological advancements, and encouraging government policies drive the market in Europe. However, high cost associated with the treatment is a major constraint associated with this market.
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The market in this region has more significance with trends showing that people desire more efficient solutions for their illnesses. This technology is especially inclined towards the elderly population in Europe, for whom easily accessible healthcare is paramount. The major companies dominating this market for its products and services in Europe are Acelity L.P., Inc. (U.S.), Smith and Nephew Plc. (U.K) (market share is around 15-20%), Mölnlycke Health Care (Sweden), ConvaTec, Inc. (U.S.), Coloplast Corp. (Denmark), 3M Health care (U.S), Medtronic (U.S), Integra Lifesciences Corporation (U.S.). The recent trends in mergers and acquisitions in this region show that smaller companies are working with bigger ones for advanced innovations in the global anaesthesia monitoring devices market, by utilizing their core competencies. The future of this technology in this part of the world looks pretty optimistic as it offers a huge potential for change in treating patients in this region.
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