Global Wound Irrigation Systems Market Expected to Grow At a CAGR of 3.8% During the Forecast Period

The latest market report published by Credence Research, Inc. “Wound Irrigation Systems Market: Growth, Future Prospects, and Competitive Analysis, 2019 – 2027” the wound irrigation systems market was valued at US$ 192.6 Mn in 2018, expected to grow at a CAGR of 3.8% during the forecast period from 2019 to 2027.

Market Insights

The global wound irrigation systems market is growing proficiently from 2019 to 2027 accredited to an increase in prevalence for chronic or acute wounds, surgical infection, pressure ulcers, traumatic wounds, and others. Increased U.S FDA approvals for new wound irrigation systems with enhanced irrigation solutions for higher patient safety and outcomes will drive the market growth. Increasing partnerships, new product launch, technology expansion and increased adoption of battery-operated systems on a global scale will contribute a significant revenue share. In Feb 2017, Centurion Medical Products launched the new wound irrigation system IRIG-8 for acute wound management in the U.S. market and internationally.

 

According to WHO, Cancer Research UK, Medicare and other wound care fact sheets, every year more than 305 million acute, traumatic and burn wounds are recorded and treated on a global scale. In the U.S. market, diabetic foot ulcers in patients add up to around US$ 70 to US$ 80 billion in treatment costs each year. Increasing aging population and upsurges in diabetes and obesity are key factors driving the overall growth of wound care management. Increasing chronic wounds in the elderly population along with the adoption of advanced wound irrigation systems in the developed nations will further spur revenue growth during the forecast period. For e.g. top products include Igloo® wound irrigation system, IRIG-8, Irrijet wound irrigation system, Wadwand wound irrigation system, Simpulse PLUS System, and many other products are gaining traction in the international market.

The North America market dominated on a global scale attributed to increasing prevalence of diabetes, a large pool of geriatric population, increase in surgical wound infection and trauma cases along with the residence of top medical device manufacturers in U.S market. Major factors driving the market growth are an expansion of wound care management and services in home care, increasing preference for single-use products, increasing awareness associated with advanced techniques and wound care therapy in the developing nations globally.

 

OUR Website: Credence Research – Market Research Consulting Firm San Jose (CA) USA

Our Blog:  Home – Target Market Size

Back to top button