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(Medical-NewsWire.com, July 06, 2017 ) The Middle East and Africa Advanced Wound Care Market has been estimated at USD 494.7 million in 2015 and is projected to reach USD 604.9 million by 2020, at a CAGR of 4.1% during the forecast period from 2015 to 2020. Advanced wound care products provide a much-needed relief to the people who are suffering from chronic wounds, which take significant amount of time to heal and are expensive to treat. Technology in this area has grown manifold. Traditional wound care products are gradually being replaced by advanced wound care products due to their efficacy and usefulness in managing wounds by enabling faster healing.
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Advanced Wound care market offers solutions to patients suffering from chronic wounds, by providing them readily accessible and reasonably priced products which can be used at one’s own convenience. Treatment in advanced wound care includes interventions therapies and products such as collagen products, foam dressings, hydrocolloids, antimicrobial dressings, film dressings, alginate dressings, gauze composites, and hydrogels among others. As technology progresses and becomes more viable, the quality of life of patients afflicted with chronic wounds rises.
This market is mainly driven by technological advances, problems associated with ineffective traditional wound healing methods, initiatives taken by the government, and a pressing need for swift and safer treatment of chronic wounds. Attempts to lower the duration of hospital stay in order to reduce the surgical healthcare expenses and the growing inclination towards products that enhance therapeutic outcomes are also driving the demand for the advanced wound care market. The High cost associated with the treatment and reimbursement issues for the new technologies serve as factors which hinder the market.
The global advanced wound care market has been segmented on the basis of type, application and end users. By type, the global advanced wound care market is segmented into dressings, active wound care, and therapy devices. The dressing segment accounts for the largest share of the global market. On the basis of application, the market is divided into surgical wounds, ulcers, and others, of which the surgical wounds segment grabs the largest share of the global market. 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 global market.
The Middle East and Africa market is geographically segmented and analysed under regions of Middle-East and Africa. The Middle East and Africa market, which consists of fast-developing economies has remained largely untapped. However, this market is expanding steadily and has created abundant opportunities for the launch of new products. This region is projected to be the fastest-growing market for Advanced Wound care products for the next decade. In terms of revenue, South Africa leads the market in this region. Rapid urbanization and rising number of chronic diseases have made this region, an area of enormous potential and opportunities. However, lack of awareness and price sensitivity has considerably hindered the growth of this market
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The market has more significance with trends showing that people desire more efficient solutions for their illnesses. This technology is especially inclined towards the elderly population, for whom easily accessible healthcare is paramount. The major companies dominating this market for its products and services are Acelity L.P., Inc. (U.S.), Integra Lifesciences Corporation (U.S.), ConvaTec, Inc. (U.S.), Coloplast Corp. (Denmark), Smith and Nephew Plc. (U.K), Organogenesis Inc. (U.S.), Medline Industries Inc. (U.S.), Mölnlycke Health Care (Sweden), MPM Medical, Inc. (RBC Life Sciences, Inc.) (U.S.). The recent trends in mergers and acquisitions 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 looks pretty optimistic as it offers a huge potential for change in treating patients all over the world.
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