The growth of the wound care management market is attributed to the increase in the geriatric population, rising incidences of a chronic wound, and an increase in the number of surgeries
According to the National Institute of Health, one in every 16 people in the United Kingdom is suffering from diabetes. The prevalence of diabetes is around 6% of the overall population. Nearly one-third of the diabetic population develop foot ulceration within a year of diagnosis. ‘Diabetic foot’ refers to infection, ulceration, and possible amputation of a foot or leg among diabetics. Incidences of chronic wounds, especially foot ulcers, are common among the diabetic population. While more than 80,000 adults are expected to undergo a lower extremity amputation, diabetics are 10 times more likely to undergo amputation at some point in their lifetime. The diabetic population is likely to grow in the United Kingdom, which, in turn, is anticipated to drive the market for wound care management devices during the forecast period.
Key Market Trends
The Surgical Staplers Segment is Expected to Grow Rapidly over the Forecast Period
Surgical staplers are specialized medical staplers, which can be used as an alternative to sutures for the purpose of wound closure. They can be used during minimally invasive image-guided procedures. With the rise in demand for minimally invasive surgeries, the surgical staplers segment is expanding. Surgical staplers offer benefits, such as faster recovery, less pain, coagulation, and accurate closure, especially in minimally invasive procedures. Various applications of surgical staplers include the areas of gynecology, abdominal surgeries, and cardiothoracic and orthopedic surgeries.
The UK wound care management devices market is moderately competitive and consists of several major players. The companies are implementing certain strategic initiatives, such as mergers, new product launches, acquisitions, and partnerships, which help them in strengthening their market positions. For instance, in December 2017, Smith & Nephew announced the European launch of MolecuLight i:X, which is a handheld imaging device that can be used to instantly measure wound surface area and visualize the presence of potentially harmful bacteria in it.
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1.2 Study Assumptions
1.3 Scope of the Study
4.2 Market Drivers
4.2.1 Increase in Geriatric Population
4.2.2 Growing Burden of Chronic Wound and Related Diseases
4.2.3 Growing Technological Advancement in Surgical Procedures
4.3 Market Restraints
4.3.1 High Cost
4.3.2 Lack of Proper Reimbursements
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5.1.1 Wound Care
188.8.131.52 Topical Agents
184.108.40.206 Wound Care Devices
5.1.2 Wound Closure
220.127.116.11 Surgical Staplers
18.104.22.168 Tissue Adhesives, Sealants, and Glue
5.2 By Wound Type
5.2.1 Chronic Wound
22.214.171.124 Diabetic Foot Ulcer
126.96.36.199 Pressure Ulcer
188.8.131.52 Arterial and Venous Ulcer
184.108.40.206 Other Chronic Wound
5.2.2 Acute Wound
220.127.116.11 Surgical Wounds
18.104.22.168 Other Acute Wounds
6.1.1 Johnson & Johnson
6.1.2 KCI Inc.
6.1.4 Smith & Nephew
6.1.5 Convatec Inc.
6.1.6 Medtronic PLC
6.1.8 Coloplast AS
6.1.9 Molnlycke Health Care
6.1.10 Derma Sciences