Boom in hospital industry to compliment the growth of the global wound debridement products market
Global wound debridement products market revenue is expected to soar at a CAGR of 6.7 % through the forecast period. Amongst the assessed regions, the North America wound debridement products market occupied more than 30% share of the global wound debridement products market in 2015 and is likely to grow at a CAGR of 6.9% till the end of the assessment period. Manufacturers operating in the global wound debridement products market are producing differential products such as pads and scalpels for minor wound treatments as well as other skin sensitive traditional wound debridement products to retain their market share in the global wound debridement products market and to earn a competitive edge over market contenders.
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New market strategies are being rolled out by manufacturers to woo consumers. North America is likely to play a crucial role in the all-round development of the global wound debridement products market. On the other hand the MEA wound debridement products market is expected to record comparatively less growth due to low awareness among patients and healthcare professionals.
Hospitals segment to play a significant role in the development of the global wound debridement products market
The end-use segment will push the global wound debridement products market ahead in the forthcoming years. Orthopedic hospitals, cardiac hospitals and multi-specialty hospitals are expected to emerge as high potential consumers of medical tapes over the forecast period. The global wound debridement products market is expected to benefit as the use of wound debridement products will spike in hospitals and homecare facilities. The market value of the global wound debridement products market is projected to cross US$ 700 Mn by the end of the foreseen period. Hospitals segment is the largest segment amongst the end user segments in the global wound debridement products market and is slated to occupy more than 47% of the global market share of wound debridement products by the end of the assessment period. The ambulatory surgical centres and specialised clinics segments are also expected to witness a healthy growth during the forecast period.
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The hospitals segment is anticipated to expand at a CAGR of 8.3% in the global wound debridement market and is likely to cross a market valuation of US$ 300 Mn within the period of prediction. The hospitals segment dominated the global wound debridement products market in 2015 and is projected to continue its dominance throughout the forecast period. For investors, the hospitals segment is predicted to stay the most attractive segment till the end of the assessment period.
Performance analysis of the hospitals segment across regional markets
The hospitals end user segment dominated the North America wound debridement products market in revenue terms in 2015 and is projected to continue to do so throughout the forecast period. Hospitals is also the most attractive segment, with a market attractiveness index of 2.8 during the forecast period.
The hospitals end user segment performed well in the Latin America wound debridement products market in 2015 and is poised to remain the most attractive segment with an attractiveness index of 3.1 during the forecast period. In APAC and in Europe regions the hospitals segment is likely to perform well till the end of the forecast period. The hospitals segment in the APAC region will grow at a CAGR of 8.9% throughout the period of assessment while in the MEA wound debridement products market, this segment is likely to record a CAGR of 7.3% between 2016 and 2024.
The traditional wound debridement products market will record a healthy absolute dollar opportunity within the forecast period, as a massive population living in Africa and India will opt for traditional wound debridement products owing to their cost-effectiveness. A growing diabetic and geriatric population is anticipated to keep the North America wound debridement products market afloat in the competitive global wound debridement products market.
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