Wide adoption of wound irrigation solution has been witnessed in the recent years, owing to reduce in healing times and minimizing tissue damage. According to a recent market intelligence by Fact.MR, the wound irrigation solution market in Asia Pacific is likely to be driven by several macroeconomic factors. Growing prevalence of acute as well as chronic wounds and rising aging demographic are expected to augment the growth of wound irrigation solution market in the Asia Pacific region. Further, manufacturers of wound irrigation solution are targeting on extending their product line in developing countries such as China and India, creating lucrative prospects of the market.
Increasing acceptance of advanced methods of wound cleansing and healing lined with healthcare facilities raising awareness of these methods is escalating the market at quicker pace. Growing awareness of the benefits of wound irrigation solution and its mandatory use in various healthcare units are estimated to boost the market in Asia Pacific. According to the Fact.MR’s study, growing preference of wound irrigation solution for its high efficacy and specificity with presence of highly functional distribution channel will possibly elevate the market in the Asia Pacific region.
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Although wound irrigation solution market is gaining increasing momentum in Asia Pacific, North America has been envisaged to dominate the global market over the assessment period, 2018-2027. North America accounts for around 39% of market revenue share in 2017 which is likely to reach 57% in combination with Europe by 2026. These two regions are expected to be the most lucrative market for wound irrigation solution, owing to availability of innovative and expanded product line for advanced wound care.
On the basis of product type, the global wound irrigation solution market is divided into two segments including wetting agents and antiseptics. According to the Fact.MR’s research, the wetting agents is estimated to be valued over US$ 590 Mn in 2017, maintaining a dominant position in global wound irrigation solution market. While the overall segment is expected to expand at a moderate CAGR of 3.5%, demand for antiseptics is likely to witness a significant growth during the forecast period.
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By end-users, the global wound irrigation solution market is expected to remain concentrated in hospitals and ambulatory surgical centers, with rising adoption of advanced wound care products. Further, the demand for wound irrigation solution is expected to grow among clinics, long term care centers, and home care settings over the period of assessment.
Although Fact.MR maintains a positive outlook of the global wound irrigation solution market, major challenges associated with limited awareness will possibly create hindrance. Unawareness of advanced treatment methods among large population coupled with dearth of reimbursement from healthcare facilities is estimated to hamper the growth of global wound healing solution market. In addition, for acute care units, there is larger demand for low frequency wound healing methods which is likely to restrain the adoption of wound irrigation solution.
The Fact.MR’s report highlights detailed profiles of leading players actively operating in global wound irrigation solution market. It is further enhanced by companies’ strategies regarding initiatives, new system development, opportunities, and market consolidation.
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