Wound Treatment System Market Introduction
Wounds and injuries are common conditions that affect billions across the globe. Several million acquire chronic wounds due to complications from diabetes, obesity, and cardiovascular diseases, which are projected to rise dramatically across the world in the next few decades. Moreover, people suffer from trauma and burns as a result of accidents, natural disasters, and violence.
Non-healing wounds are a significant problem in health care systems across the world. Researchers observe that traditional treatments such as bandaging would take more time to heal. Hence, in order to heal the wound quickly, the cause of the wound must be first identified so that the underlying factors can be controlled. Researchers also believe that negative pressure systems and electric stimulation systems heal chronic wounds at a faster rate.
Wound Treatment System Market- Competitive Landscape
Smith & Nephew launched PICO7Y, the first portable single use negative pressure wound therapy system to treat two wound simultaneously. The new PICO7Y will be an enhanced protection solution that helps the patients to cure multiple wound effectively.
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Founded in 2010, BRH Medical is located in the Israel. The company provides advanced medical devices and solution for chronic wound care. The company’s products implement a novel, patent protected technology that combines therapeutic ultrasound and electrostimulation, together with advanced database software to produce outstanding results in clinical applications
Inotec AMD is a Cambridge based company that specially provides new innovative technology to wound care specialists, around the world. Company recently signed, a distribution agreement with AG-Nass, LLC Medical Supply to distribute its products in the Northeastern cities of the US.
Established in 1998, Stimux is located in the Turkey. The company offers various product and accessories to full the need of wound care. Product includes topical negative pressure wound therapy device, vacuum assisted sponge instated closure sets, vaccum assisted spreader and other wound treatment system accessories.
KCI Licensing, Inc.
KCI Licensing Inc., is a global advanced wound care company with diverse product portfolio. KCI’s negative pressure technologies have revolutionized the way in which caregivers treat a wide variety of wound types. The KCI Vacuum Assisted Closure therapy system, has been clinically demonstrated to help promote wound healing. V.A.C. therapy has been used on more than 8 million wounds worldwide.
Wound Treatment System Market Dynamics
Increase in Incidence of Diabetic Foot Ulcers and Pressure Ulcers Driving Demand for Wound Treatment System
According to a Humana Press release 2014, (an academic publisher of science, technology, and medical books and journal), the prevalence rate of pressure ulcers in different kinds of intensive care units is in the range of 15% to 20%. Additionally, the diabetic foot ulcers prevalence in the countries like US, Germany are 13.0%, 9.5%. Such high incidence rate of chronic wound generating demand for the use of wound treatment system.
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Manufacturers Focus on Innovative Techniques to Enter Developing Wound Treatment System Market
Manufacturers in the wound treatment system market are increasingly investing in the research and development activities to find new and innovative techniques to develop wound treatment system. Manufacturers are also focusing on offering highly-efficient and reliable system or devices to provide better cure against chronic wound effects of utility various patented technology like vacuum based technology etc.
High Dependence on Traditional Treatments Limiting the Growth of Wound Treatment System Market
One of the key factors hampering the growth of the wound treatment system market is that a major population is still highly dependence on the traditional treatment options like cleansing, bandaging, debridement etc. However, in response to the growing demand for wound therapy system by consumers, companies are focusing to rise in awareness program about the advantages of the system to treat wound as compare to tradition approach.
Wound Treatment System Market Segmentation
Based on the product type, the wound treatment system market is segmented into
- Negative Pressure Wound Therapy System
- Oxygen Wound Therapy System
- Electric Stimulation Wound Therapy System
Based on the indication, the wound treatment system market is segmented into
- Diabetic Foot Ulcers
- Venous Leg Ulcers
- Ischemic Ulcers
- Pressure Ulcers
Based on the end-user, the wound treatment system market is segmented into
- Specialty Clinics
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
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