Less Time Spent in the Hospital Equals Revenue Growth in Wound Management
Technological developments have reduced the time spent in operating rooms. Although newer products can be more expensive, less is needed during treatment, saving money for both patients and hospitals.
Vancouver, BC -- (ReleaseWire) -- 11/28/2019 --Throughout the wound and tissue management market, companies are constantly releasing new products. Patients are benefiting from this competitive landscape as newer devices have shorter healing times, cause less scarring and reduce the amount of pain during application. KitoTech Medical and their recent innovations in wound closure demonstrates the rapid growth in wound and tissue management, and why this market is projected to grow to over $20 billion by 2025 in the U.S. and Europe.
Furthermore, iData Research has found that Wound practitioners are becoming more aware of the different tools they have at their disposal to properly treat these wounds. They are becoming better educated in how to properly use advanced wound dressings and technology. Additionally, newer technologies have become more streamlined, reducing the amount of time needed to incorporate their use.
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"Facility-acquired infections, surgical complication and increased time to heal wounds cost hospitals hundreds of thousands of dollars in additional labor, time and medical devices. Therefore, without the advanced technology of biosurgery products, dressings and therapeutic support surfaces that can help wounds heal more rapidly, these facilities would lose millions of dollars," says CEO of iData Research, Kamran Zamanian. Despite the high initial costs, the long-term reward of some of these products is much greater.
Top Competitors in The Wound Tissue & Management Market
Ethicon dominates the sutures, clip appliers, skin adhesive and mesh and cyanoacrylate-based skin closure system segments and retained their position as market leader in wound closure. Additionally, Ethicon is also the leading competitor in the hemostat market, due to their ability to manufacture a wide range of products.
For Further Market Information
More insights like this on the global market (21 Countries) can be found in a 3,924 page series of studies published by iData Research entitled the Wound Care Market Analysis, Size, Trends | Global | 2019-2025 | MedSuite
iData Research is an international consulting and market research firm dedicated to empowering confident strategic decisions within the medical device, dental, and pharmaceutical industries.
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