Wound care products are defined based on specific types of a cure for skin ulcers, pressure infections and other wounds that halt the skin. Pressure infections are also called bed sores include adhesives, hydrocolloids, pressure relief, negative pressure wound therapy (NPWT), silver dressings, debridement, staples, collagen, and sutures.
According to the study, “Europe Wound Care Product Market (2018-2023)” some of the major companies that are currently working in Europe wound care product market are Coloplast Corporation, Johnson & Johnson Pvt. Ltd, Smith, and Nephew Plc., Biotronik, Medtronic/Covidien, Livanova, Cardia Science, Nihon Kohden Corporation, Beiersdorf AG, Molnlycke Health Care AB, Schiller Ag, St Jude Medical, Zoll Medical Corporation, ConvaTec Plc., Boston Scientific, Medtronic Public Limited Company.
The European Wound Management Association (EWMA) and European Tissue Repair Society (ETRS) and European Pressure Ulcer Advisory Panel (EPUAP) are government regulatory authorities that have several initiatives for innovative therapies in wound care & management with the purpose of making.
Some of the major applications of the wound care product market are acute and chronic wound care. An acute wound is segmented into proliferation or migration, inflammatory phase, hemostasis, and remodeling. Chronic wounds are defined as infection or biofilm, impaired angiogenesis, elevated MMPs, hyperproliferation epidermis, fibrin cuffs, fibroblast senescence, and persistent inflammation. In addition, trauma, radiation induces surgical and demarche categories of chronic wounds. Moreover, some of the major consumers are home healthcare, facilities, hospitals & specialty wound care clinics and long-term care facilities. Home healthcare is the rapidly growing segment in the EU as a consequence of rising demand for self-treatment at home followed by the large percentage of the aging population.
In Europe wound care products market have led to increasing in healthcare facilities innovative products, increasing demand of products, increasing disposable income, increasing awareness about affordable advanced wound therapies, developments in wound care research area, rising in the geriatric population, better access to improved healthcare, rise in number of chronic diseases and government regulations etc. The complex regulatory approval processes are one of the major challenge apart from this some of the new opportunities are potential application are therapy in the wound care, emerging economies, the growing popularity of active wound care products and increasing research in the field of advanced wound care.
Europe is the second largest wound care product market in the world. Based on the countries, region’s wound care market is segmented into EU5 and rest of EU5. EU5 holds the major market share in the region due to some countries such as Germany, the United Kingdom, and France that are creating significant funds in wound care. In 2018, Smith & NephewPlc, launched PICO 7wound care product in order to make stronger its position in European wound care market. By the end of 2018, in EU5, many wound care companies have plans to launch new innovative wound care products across the respective countries. It is estimated that Europe wound care product market to reach US$ 6.2 billion, at a CAGR of 6.0 %, by 2023. In near future, it is expected that the market to grow increasingly owing to the rising incidence of chronic diseases such as ulcers, diabetes, and trauma etc.
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Ankur Gupta, Head Marketing & Communications