Argentina Wound Care Management Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 5.90 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Argentina Wound Care Management Market Analysis
The Argentina Wound Care Management Market is expected to register a CAGR of 5.9% during the forecast period. The major factors driving the growth of the market in Argentina is due to increasing incidences of chronic wounds, ulcers, diabetic foot ulcers, and rising surgical site infections (SSI).
There is also an increase in the tourist numbers since 2003, with Argentina proving particularly popular with United Kingdom visitors. Argentina has two major benefits, other than cost. It has the best cosmetic surgeons in the world, and thus, the demand for breast implants, laser surgery, and nip-and-tuck treatments is high in this country. Due to this, there is an increase in surgical treatments, and thereby, an increase in the usage of wound care management products.
As per the International Diabetes Federation, estimated that the number of the adult population with diabetes in Argentina in 2017 was about 1.76 million people. Moreover, in Argentina, the healthcare spending on diabetes was about USD 1.59 billion in 2017. This number is projected to reach USD 2.14 billion by 2045. As healthcare spending on diabetes is expected to increase in coming years which shows positive impact on market because the people with diabetes are more prone to diabetic foot ulcers which ultimately increases the use of wound care products in near future. Thus, owing to above factors the market is expected to show significant growth over the forecast period.
Argentina Wound Care Management Market Trends
This section covers the major market trends shaping the Argentina Wound Care Management Market according to our research experts:
Sutures Segment is Expected to Hold a Major Market Share in the Argentina Wound Care Management Market
Sutures can be absorbable or nonabsorbable. Absorbable sutures are broken down by the body and eventually dissolve completely, whereas non-absorbable suture should be manually removed. Absorbable sutures are made from synthetic polymer materials, such as polylactic acid (Vicryl), polyglycolic acid (Dexon), polyglyconate (Maxon), and polydioxanone (PDS).
In addition, the country is also witnessing a large number of minimally invasive surgeries, which also acts as a fueling factor. This also indicates that the country is having a considerable amount of surgeries performed. As the number of surgeries that are performed increases, there is an increase in the use of surgery devices.
In Argentina, in 2017, healthcare expenditure was more than 9.1% of Argentina's gross domestic product (GDP), up from 7.54% in 2016. Moreover, healthcare expenditure increasing in the country which shows positive impact on the market.
Thus, owing to the above-mentioned factors the segment is expected to show a healthy growth rate in the coming years.
Argentina Wound Care Management Industry Overview
The Argentina Wound Management Market is competitive and consists of several major players. The companies are also showing continuous growth and are developing new and differentiated products and services, which address the evolving healthcare needs among patients, providers, and consumers. Some of the companies which are currently dominating the market are 3M Company, Medtronic PLC, Smith & Nephew, Johnson and Johnson, ConvaTec Group PLC, B. Braun Melsungen AG, Coloplast A/S, and Molnlycke Health Care.
Argentina Wound Care Management Market Leaders
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Medtronic PLC
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3M Company
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Johnson and Johnson
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Smith & Nephew
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ConvaTec Group PLC
*Disclaimer: Major Players sorted in no particular order
Argentina Wound Care Management Market Report - Table of Contents
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1. INTRODUCTION
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1.1 Study Assumptions
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1.2 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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4. MARKET DYNAMICS
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4.1 Market Overview
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4.2 Market Drivers
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4.2.1 Increasing Incidences of Chronic Wounds, Ulcers and Diabetic Ulcers
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4.2.2 Increase in the Number of Surgical Procedures
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4.3 Market Restraints
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4.3.1 Lack of Reimbursement Policies
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4.3.2 High Treatment Costs
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4.4 Porter's Five Force Analysis
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4.4.1 Threat of New Entrants
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4.4.2 Bargaining Power of Buyers/Consumers
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4.4.3 Bargaining Power of Suppliers
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4.4.4 Threat of Substitute Products
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4.4.5 Intensity of Competitive Rivalry
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5. MARKET SEGMENTATION
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5.1 By Product
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5.1.1 Wound Care
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5.1.1.1 Dressings
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5.1.1.2 Wound Care Devices
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5.1.1.3 Topical Agents
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5.1.1.4 Other Wound Care Products
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5.1.2 Wound Closure
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5.1.2.1 Suture
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5.1.2.2 Surgical Staplers
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5.1.2.3 Tissue Adhesive, Strips, Sealant, and Glue
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5.2 By Wound Type
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5.2.1 Chronic Wound
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5.2.1.1 Diabetic Foot Ulcer
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5.2.1.2 Pressure Ulcer
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5.2.1.3 Arterial and Venous Ulcer
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5.2.1.4 Other Chronic Wounds
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5.2.2 Acute Wound
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5.2.2.1 Surgical Wounds
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5.2.2.2 Burns
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5.2.2.3 Other Acute Wounds
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6. COMPETITIVE LANDSCAPE
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6.1 Company Profiles
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6.1.1 3M Company
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6.1.2 Medtronic PLC
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6.1.3 Smith & Nephew
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6.1.4 Johnson and Johnson
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6.1.5 ConvaTec Group PLC
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6.1.6 B. Braun Melsungen AG
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6.1.7 Coloplast A/S
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6.1.8 Molnlycke Health Care
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- *List Not Exhaustive
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Argentina Wound Care Management Industry Segmentation
As per the scope of the report, wound management products are majorly used to treat complex wounds. Wounds and injuries are common afflictions that affect billions of people worldwide. The products are highly resistant to environmental inhibitors and foreign particles and are used by a nurse under the physician's orders and supervision, for many reasons. The Argentina wound care management market is segmented by product and wound type.
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Argentina Wound Care Management Market Research FAQs
What is the current Argentina Wound Care Management Market size?
The Argentina Wound Care Management Market is projected to register a CAGR of 5.90% during the forecast period (2024-2029)
Who are the key players in Argentina Wound Care Management Market?
Medtronic PLC, 3M Company, Johnson and Johnson, Smith & Nephew and ConvaTec Group PLC are the major companies operating in the Argentina Wound Care Management Market.
What years does this Argentina Wound Care Management Market cover?
The report covers the Argentina Wound Care Management Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Argentina Wound Care Management Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
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