The Wound care and Wound closure market is expected to grow at a rate of 12-15% during the next 5 years. Wound Management products have a huge growth opportunity due to high incidence of chronic and acute wound patients in India along with a growing middle class population, having greater affordability, rising health awareness and purchasing power. Advanced wound management techniques have been gaining fast acceptance among physicians due to reduced length of hospital stay, improved performance, increasing promotion from companies and word of mouth. The analysis includes market dynamics, revenue forecasts, market share, and competitive structure. The market is divided into wound closure and wound care.
Wound Closure Market accounted for % of the total market contributing to $ M revenue in the year 2012 and is expected to grow at a rate of % during 2012–2017.
The Wound Closure market is dominated by the sutures- and energy-based closure devices, contributing % market share followed by others like tissue sealants and hemostats, mechanical wound closure devices, and wound closure strips.
This market thrives on distribution structure and relationship with doctors or hospitals; Companies like Johnson & Johnson holds monopoly in products like sutures and energy-based closure devices (the biggest pie of the market) due to their extensive marketing and distribution network.
Wound Care Market formed % of the total market which is about $ M. This market is estimated to grow at a CAGR of % during 2012–2017.
Traditional wound care products like gauze and gamgee pads still constitute major share (%) of this market. Low cost, local availability, ease of use and maintenance are the primary reasons for gauze dominating the wound care materials currently.
The advanced wound care products are still in the developmental stage and
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