Technavio analysts forecast the global wound irrigation solution market to grow at a CAGR of over 3% during the forecast period, according to their latest market research report.
The support for the inclusion of electromicyn and microdacyn in WHOEML is one of the major trends being witnessed in the global wound irrigation solution market 2019-2023. Electromicyn and microdacyn are solutions used in the treatment of chronic and acute wounds, including wounds caused by diabetes, cuts, and burns. Electromicyn is a medical device consisting of a stabilized pH-neutral solution of hypochlorous acid, ozone, peroxide, and superoxide. Microdacyn, on the other hand, is a solution containing sodium hypochlorite and hypochlorous acid. Both these solutions are highly effective in debridement, moistening, and treatment of several chronic and acute wounds.
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According to Technavio analysts, one of the key factors contributing to the growth of the global wound irrigation solution market is the increasing government support to meet healthcare needs:
Global wound irrigation solution market: Increasing government support to meet healthcare needs
Increasing government funds for public healthcare activities is making primary health care and medicines more accessible to a greater portion of the population. For instance, in Germany, all residents are covered under a common health insurance and are entitled to insurance benefits, including universal access to medical specialists, physiotherapists, and medical aids, including medicines.
According to a senior analyst at Technavio, Developing countries such as India are also planning to implement large-scale health insurance programs. In January 2018, the Indian government had announced a massive public-service healthcare program that would give about 500 million people free access to healthcare. This would give necessary access to medical facilities to a large section of the population, thereby driving the demand for wound irrigation solution.
Global wound irrigation solution market: Segmentation analysis
The global wound irrigation solution market research report provides market segmentation by product (wetting agents and antiseptics) and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Of the two major products, wetting agents and antiseptics, the wetting agents segment held the largest market share in 2018, contributing to close to 63% of the market. This product segment will dominate the global market throughout the forecast period.
The Americas held the largest share of the market in 2018, accounting for close to 46% share, followed by EMEA and APAC respectively. Although APAC held the smallest share of the market, it is expected to witness the maximum increase in its market share over the forecast period.
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- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
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- Market positioning of vendors
- Competitive scenario
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