Demand for wound debridement products is surging steadily owing to its steady demand, especially from hospitals and specialty clinics. The new edition of the report from Future Market Insights (2021-2031) offers a post COVID-19 analysis on wound debridement sales across the globe. The report also expands on the previous competitive section, with divestures, mergers & acquisitions, and new forays analyzed.
According to latest analysis, wound debridement product sales have witnessed a minor decline in US, the largest market globally. However, demand still continues to be strong and manufacturers can expect a steady stream of opportunities during the forecast period. US currently accounts for nearly one-fourth of all wound debridement sales globally.
The study also finds that manufacturers are focusing on launching innovative products to consolidate their market share.
“Production of pads and scalpels for effectively treating minor wounds is gaining traction. Although the profit margins in these products are low, they are sold in bulk, which remains a lucrative option for manufacturers,” says an FMI analyst.
Key Takeaways from Study
- Hospitals will remain the largest demand generators for wound debridement products
- Strong demand in US to continue in 2021 and beyond, making North America the largest market globally
- New product innovation to be a key focus area for manufacturers
- Demand for wound debridement products rising in Asia Pacific as various economies make an early recovery from COVID-19 pandemic
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Applications in Treating Chronic Ulcers and Surgical Wounds Driving Demand
Demand for wound debridement products continues to remain high for treating chronic ulcers and surgical wounds. According to the study, these two application areas continue to create opportunities for market players. Of particular significant is application in chronic leg ulcers. Chronic ulceration of lower legs continues to be a challenge area, with 3.6% of people older than 65 years suffering from this (Grant Medical College).
FMI’s study reveals that use of wound debridement products in treating these types of ulcers will continue to account for steady demand over the course of the forecast period.
Demand Likely to Increase in Asia Pacific
FMI’s analysis reveals US to be the most lucrative market for wound debridement products, but owing to relatively less impact on many Asian economies, demand is likely to surge.
China, India, and South East Asian countries have been lesser impacted by the covid-19 crisis, as compared to US and Western Europe. Further, healthcare sector in these countries is going through an infrastructure revamp, which is also likely to create opportunities for manufacturers.
Who is Winning in this Space?
The global wound debridement products market is extremely competitive in nature. According to FMI, majority of the players in the wound debridement products market are focusing on acquisitions and launching new and effective product variants
For instance, Axio Biosolutions, a leading Indian company working in the industry, is consistently working on the creation of an emergency wound hemostat. The company also launched an effective dressing namely “Axiostat” which gained a whole lot of importance and wide acceptance across the defense forces and civil hospitals. The dressing has helped majorly in preventing bleeding in the wounds.
More Valuable Insights
In its latest report, FMI offers an unbiased analysis of the global wound debridement products market, providing historical data for the period of 2016-2020 and forecast statistics for the period of 2021-2031. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of end users, application, regions and product types.
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Key Questions Answered in Report
Which are the top wound debridement product manufacturers?
Some of the top companies providing wound debridement products are Smith & Nephew PLC, Derma Sciences, Inc., Lohmann & Rauscher International and Zimmer Biomet.
Which are some of the lucrative markets for wound debridement products?
The US, UK, France, Germany, China, and India are among the most lucrative wound debridement product markets.
Which sector accounts for the highest demand for wound debridement products?
The hospital industry accounts for the highest demand for wound debridement products.
Which are the key applications for wound debridement products?
Presently, key applications of wound debridement products are hospital industry, homecare facility industry, and others, which will aid demand growth over the coming years.