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The global wound debridement products market is estimated to be valued at US$ 779.9 Mn or Mn in 2023 and is expected to exhibit a CAGR of 9.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Wound debridement products are used to remove dead, contaminated or infected tissue from a wound to help promote healing and prevent infection. Various types of products available include mechanical debridement pads, ultrasonic debridement devices, hydro-surgical debridement devices, hydrotherapy debridement products and larval therapy. These products are gaining significant traction among healthcare professionals and patients owing to their effectiveness in painless and rapid debridement as compared to traditional surgical methods. The growing instances of chronic ulcers, traumatic and surgical wounds worldwide have boosted the demand for advanced wound debridement solutions.
Market key trends:
One of the key trends witnessed in the market includes growing demand for minimally invasive products. The minimally invasive products cause less pain to patients and enable faster recovery. This has prompted manufacturers to invest in developing advanced wound debridement technologies such as hydrosurgical and ultrasonic devices. For instance, in 2022, DeRoyal Industries, Inc. launched DermaFlowTM Ultrasonic debridement device that effectively removes necrotic tissue or slough from acute and chronic wounds using pulsating ultrasound waves. Rising geriatric population and subsequent increase in age-related conditions and disorders will further stimulate the wound debridement products market over the forecast period.
Porter’s Analysis
Threat of new entrants: New entrants will find it challenging to enter the wound debridement products market due to high capital requirements and stringent regulatory framework governing medical devices.
Bargaining power of buyers: Large institutional buyers have significant bargaining power over suppliers and negotiate for competitive prices resulting in pricing pressures.
Bargaining power of suppliers: Key suppliers are major players operating at global level and have moderate level of bargaining power.
Threat of new substitutes: Low threat of substitutes currently as there are limited product types available for wound debridement.
Competitive rivalry: High level of competitio among existing players.
Key Takeaways
The global wound debridement products market is expected to witness high growth, exhibiting CAGR of 9.2% over the forecast period, due to increasing prevalence of chronic wounds globally. North America is expected to dominate the global wound debridement products market during the forecast period.
The global wound debridement products market size for 2023 is US$ 779.9 Mn. The market is expected to grow at a high rate due to increasing prevalence of diabetes and associated chronic wounds. As per estimates, nearly 422 million people worldwide have diabetes and every year around 1.6 million deaths occur due to diabetes. This is expected to drive the demand for wound debridement products for managing chronic wounds.
Regional analysis: North America is expected to hold a major share in the global wound debridement products market during the forecast period. High healthcare expenditure, presence of advanced healthcare facilities and growing geriatric population susceptible to chronic wounds are some of the major factors expected to contribute towards the region’s large market share. Asia Pacific is expected to exhibit fastest growth during forecast period owing to growing medical tourism, increasing healthcare expenditure and expanding patient pool in countries like India and China.
Key players operating in the wound debridement products market are DeRoyal Industries, Inc., Monarch Labs, Zimmer Biomet, Bactiguard AB, Bioventus, Convatec Group PLC, B. Braun SE, Scapa Healthcare, PAUL HARTMANN AG, ACRO Biomedical Co., Ltd., Medline Industries, LP., Organogenesis Inc., Cardinal Health, Human Biosciences Inc. Key players are adopting strategies such as new product launches and geographical expansion to strengthen their market presence.
