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(Medical-NewsWire.com, October 27, 2018 ) Overview:
In the year 2018, Europe Advanced Wound Care Market was valued at USD 2.8 Billion. By the year 2023, it is expected to reach USD 3.51 Billion at pace of 4.63% CAGR.
Advanced wound care products are generally used to treat complex wounds, including burns, chronic wounds and complex trauma and surgical wounds. Advanced wound care management uses moisturizing therapy, which provides a moist microenvironment that stimulates the natural healing process. Products used in the care of wet wounds include hydrogels, film and foam dressings, hydrocolloids and alginates. Advanced wound care products provide oxygen flow, maintain a constant temperature, eliminate dead tissue, relieve pain associated with dressing changes, and protect the site against exogenous infections.
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Underlying Causes
The growth for Advanced Wound Care Market is driven due to factors like rising incidences of chronic wounds, ulcers, and diabetes, growing geriatric population, increasing demand for advanced wound care products, reduce the duration of hospital stays, increasing number of surgeries, and rising healthcare expenditure. In addition, advancement of technologies in medical sector, increasing investments by private organizations, and introduction of advanced surgical procedures are expected to drive the market growth. However, high cost of treatments, and lack of reimbursement policies are restraining the growth rate for Europe Advanced Wound care market during the forecast period.
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Geographic Segmentation:
Based on geography the Europe Advanced Wound Care Market has been primarily divided into United Kingdom, France, Spain, Italy and Germany. Europe holds the second largest market in the Advanced Wound care market due to rising incidences of diabetes, technological advancements, and encouraging government policies are the driving factors in this region.
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Key Players:
Leading companies for Europe Advanced Wound Care Market 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.).
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