Research and Markets: Traditional Wound Management Market is Forecast to Reach $1.9 Billion by 2019

Research and Markets (http://www.researchandmarkets.com/research/d24g4q/traditional_wound) has announced the addition of the "Traditional Wound Management Market to 2019 - Cost Sensitivity Spurs Adoption in Emerging Markets, as Uptake of Advanced Wound Management Products Limits Growth in Developed Economies" report to their offering.

The global market for traditional wound management was valued at $1.6 billion in 2012, and is forecast to reach $1.9 billion by 2019, at a Compound Annual Growth Rate (CAGR) of 2.1%. Future growth of traditional wound management is expected to be subdued, due to increasing preference for advanced wound management techniques, particularly in developed economies such as the US and Europe. Given that traditional wound management is still widely perceived to be a cost-effective alternative to advanced therapies, the latter is actually proving to be significantly economical in terms of overall treatment costs.

However, traditional wound management continues to be the primary mode of treatment in developing economies such as India and China, where there is limited accessibility and minimal insurance coverage to support the use of advanced wound management techniques. Traditional wound management lacks innovative products that help in faster wound healing, patient comfort and economic benefits. However, lack of awareness in developing economies of the importance of advanced wound management will help sustain the projected moderate growth of traditional wound management.

Presence of Low-Cost Affordable Models in Developing Countries is Driving Adoption

Price-sensitive economies such as India and China continue to experience rapid growth due to low cost of traditional wound management products in these countries. The average selling prices of traditional wound management products in developing economies are approximately five times cheaper than developed economies such as the US and Europe. This price differential along with other factors such as an unfavorable reimbursement scenario and lack of awareness of the importance of advanced wound management therapies will continue to drive rapid growth in developing economies.

Bandages, gauzes and sponges are still the primary modes of treatment in these countries, as there is lack of awareness of the importance and benefits of advanced wound management. Though there will be a gradual shift towards advanced wound management, it will not be significant enough to cause a rapid decline in the traditional wound management segment.

Even in developed economies reimbursement guidelines are stringent, and reimbursement authorities such as US Medicare take considerable time to make reimbursement available for advanced wound management techniques. This encourages use of traditional wound management techniques for wounds with short healing times.

Companies Mentioned

- B. Braun Melsungen AG

- Covidien plc

- Cremer SA

- Hollister Incorporated

- Johnson & Johnson

- Mölnlycke Health Care AB

- Paul Hartmann AG

- Synergy Health plc

For more information visit http://www.researchandmarkets.com/research/d24g4q/traditional_wound

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Sector: Healthcare and Medical Devices, Pharmaceuticals