According to study, “China Wound Care Product Market (2018-2023)” some of the major companies that are currently working in the China wound care product market are Smith & Nephew, Molyncke Healthcare AB, Coloplast Corporation, Acelity L.P. Inc., Convatec, Baxter International, Teleflex Inc., Kinetic Concepts Inc., Beiersdorf, Medtronic / Covidien, Coloplast, Johnson & Johnson Pvt. Ltd. These key players are progressively focusing on offering well-established products. The major vendors started increasingly competing against each other, which are based on factors such as features, price and product quality.
Wound care products are used for wound healing, decreasing tissue loss, minimizing scar formation and facilitating hemostasis. They protect deeper tissues from chemical damage (acids & bases), thermal injury (heat & cold) mechanical injury (bumps & cuts), bacterial injury and ultraviolet radiation (sunlight) etc.
Wound care products are classified into surgical staples, wound care strips, sutures, hemostats and adhesives & tissue sealants. Additionally, they include therapy devices such as negative pressure wound therapy device (NPWT), oxygen & hyperbaric oxygen equipment, electrical stimulation devices and cutting edge wound therapy device.
Some of the key products include advanced wound care, wound therapy devices, surgical wound care, active wound care products and traditional wound care. Advanced wound care product is segmented into foam dressings, advanced wound dressings, hydrocell foam dressings, alginate dressings, collagen dressings, hydrogel dressings, others. The wound therapy devices product includes negative pressure wound therapy device (NPWT), oxygen & hyperbaric oxygen equipment, electrical stimulation devices,cutting-edge wound therapy device and others. Surgical wound care includes staples, sutures and glues. An active wound care product issegmented into artificial skin, topical agents and skin substitutes etc. In addition, traditional wound care includes dressing, compression bandages, tapes, gauge, disinfectants and plasters.
On the basis of end user, the market is segmented into long-term care facilities, hospitals & specialty clinics and home healthcare. The applications market has been segmented on the basis of the demand for the wound care product includes burn, wounds, trauma, ulcers and wounds. Based on type wound care product is defined by acute wound are and chronic wound care. Acute wounds passes through normal therapeutic process whereas chronic wounds fail to passes through normal therapeutic process.
The market is mainly driven by increasing incidence of chronic and acute diseases like ulcers, and obesity. Increasing in the number of surgeries, growing middle class families, increasing disposable income, increasing in aging population, rise in technological advancements, increasing in diabetes population, increasing number of lifestyle diseases, rising in chronic wounds & ulcers and government regulations significantly led to the growth of the market. Apart from advantages, price sensitivity is one the major challenge of wound care product market. In addition, some restraints factors include lack of proper reimbursement policies, expensive procedures and reluctance in acceptance of new technologies etc.
In 2018, it is estimated that more than 9% of the population is suffer from diabetes, in China. In the future, it is expected that new participants will come in the forecast period will provide the financial support to the market for more advancement in the technology and to increase the effectiveness of the wound care product. The effective strategies and development in the technology for manufacturing the wound care product are expected to grow significantly in the coming years. It is expected that the wound care product market will be register a single digit growth over the upcoming years.
To know more, click on the link below:
Ankur Gupta, Head Marketing & Communications