Traditional Wound Management Market is Growing at a Highest CAGR by 2031

The global traditional wound management market was valued at $5,247.9 million in 2020 and is projected to reach $7,635.0 million by 2028 registering a CAGR of 4.70 % from 2021 to 2028. Gauze, lint, plasters, bandages (natural or synthetic), and cotton wool are traditional wound dressings that are dry and used as primary or secondary dressings to protect the wound from infection. It is used in the chronic wound treatment such as pressure ulcers, diabetic foot ulcers, venous leg ulcers, and arterial ulcers. Its application also includes its use for major surgeries to treat surgical wounds as well as various acute wounds such as burns and trauma.

The global traditional wound management market is segmented on the basis of product, application, end user, and region. On the basis of product, the market is categorized into gauze, bandages, absorbent cotton, and others. By application, it is classified into acute wound and chronic wound. By end user, it is segmented into hospitals & clinics, home healthcare, ambulatory surgical centers, and other. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

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The factor that drives the traditional wound management market growth includes rise in occurrence of diabetes due to unhealthy lifestyle of people. Moreover, increase in prevalence of acute wounds such as burn, trauma and chronic wounds such as pressure ulcers, diabetic foot ulcers, venous leg ulcers, arterial ulcers drive the growth of the traditional wound management market. In addition, application of traditional wound management products in various surgical wounds and surge in geriatric population further boost the growth of the market. However, increase in development and adoption of advanced wound care products are expected to restrain the growth of the market. Moreover, improvements in regulatory environments in developing countries are anticipated to provide lucrative growth opportunities for market players.

The healthcare sector is vital to both national economies and people all across the world. One of the industries with the fastest growth rates is this one. There is a correlation between income levels and healthcare spending across nations because healthcare spending accounts for more than 10% of the GDP of the majority of developed countries. According to the Centers for Medicare and Medicaid Services, US healthcare spending increased by 4.6% in 2019 to reach US$ 3.8 trillion, or US$ 11,582 per person and represented 17.7% of GDP. Additionally, households paid for 28.4% of all health expenditures, followed by the federal government for 29.0%. 16.1% of all healthcare costs were paid for by state and municipal governments, while 7.5% came from other private sources.

Due to advancements spurred by AI/ML, the impact of digital health technology will grow. Data from the Department for Promotion of Industry and Internal Trade show that FDI in the medicines and medication sector totaled US$19.12 billion (DPIIT).

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KEY BENEFITS FOR STAKEHOLDERS– The study provides an in-depth analysis of the global traditional wound management market along with the current trends and future estimations to elucidate the imminent investment pockets.– A comprehensive analysis of the factors that drive and restrict the market growth is provided in the report.– Comprehensive quantitative analysis of the industry from 2020 to 2028 is provided to enable the stakeholders to capitalize on the prevailing market opportunities.– Extensive analysis of the key segments of the industry helps understand the application and products of traditional wound management used across the globe.– Key market players and their strategies have been analyzed to understand the competitive outlook of the market.

LIST OF KEY PLAYERS PROFILED IN THE REPORT– B.Braun Melsungen AG– BSN Medical– Cardinal Health– Derma Sciences Inc.– Johnson & Johnson Pvt. Ltd.– Medtronic PLC– Medline Industries, Inc.– Molnlycke Health Care AB– PAUL HARTMANN AG– Smith & Nephew

KEY MARKET SEGMENTS

By Product– Gauze– Bandage– Cotton– Others

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By Application– Acute wound– Chronic Wound

By End User– Hospitals & Clinics– Home Healthcare– Ambulatory Surgical Centers– Other

By Region– North Americao U.S.o Canadao Mexico– Europeo Germanyo Franceo UKo Italyo Spaino Rest of Europe– Asia-Pacifico Japano Chinao Indiao Australiao South Koreao Rest of Asia-Pacific– LAMEAo Brazilo Saudi Arabiao South Africao Rest of LAMEA

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