Market Size of United Kingdom Wound Care Management Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
Forecast Data Period | 2024 - 2029 |
Historical Data Period | 2019 - 2022 |
CAGR | 6.80 % |
Major Players*Disclaimer: Major Players sorted in no particular order |
UK Wound Care Management Market Analysis
The growth of the wound care management market is attributed to the increase in the geriatric population, rising incidences of a chronic wound, and an increase in the number of surgeries
According to the National Institute of Health, one in every 16 people in the United Kingdom is suffering from diabetes. The prevalence of diabetes is around 6% of the overall population. Nearly one-third of the diabetic population develop foot ulceration within a year of diagnosis. 'Diabetic foot' refers to infection, ulceration, and possible amputation of a foot or leg among diabetics. Incidences of chronic wounds, especially foot ulcers, are common among the diabetic population. While more than 80,000 adults are expected to undergo a lower extremity amputation, diabetics are 10 times more likely to undergo amputation at some point in their lifetime. The diabetic population is likely to grow in the United Kingdom, which, in turn, is anticipated to drive the market for wound care management devices during the forecast period.
UK Wound Care Management Industry Segmentation
As per the scope of this report, the term wound care management is the utilization of different products and technologies for the healing of wounds. In simple words, it is the treatment given for both acute and chronic wounds.
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United Kingdom Wound Care Management Market Size Summary
The UK wound care management market is experiencing growth driven by several factors, including an increasing geriatric population, a rise in chronic wound incidences, and a higher number of surgical procedures. The prevalence of diabetes in the UK is significant, with a notable portion of the diabetic population developing foot ulcers, which are a common type of chronic wound. This condition, along with the anticipated growth of the diabetic population, is expected to propel the demand for wound care management devices. Additionally, the market is witnessing an expansion in the surgical staplers segment, attributed to the growing preference for minimally invasive surgeries. Surgical staplers provide advantages such as quicker recovery times, reduced pain, and precise wound closure, making them valuable in various surgical applications.
The competitive landscape of the UK wound care management devices market is characterized by the presence of several major players who are actively engaging in strategic initiatives like mergers, new product launches, acquisitions, and partnerships to enhance their market positions. Companies such as Johnson & Johnson, 3M, Smith & Nephew, Convatec Inc., and Medtronic PLC are key participants in this market. For example, Smith & Nephew's launch of the MolecuLight i:X, a handheld imaging device for wound assessment, highlights the innovative approaches being adopted to meet market demands. These strategic moves are crucial for companies aiming to maintain a competitive edge and capitalize on the growing opportunities within the wound care management sector in the UK.
United Kingdom Wound Care Management Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Increase in Geriatric Population
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1.2.2 Growing Burden of Chronic Wound and Related Diseases
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1.2.3 Growing Technological Advancement in Surgical Procedures
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1.3 Market Restraints
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1.3.1 High Cost
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1.3.2 Lack of Proper Reimbursements
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1.4 Porter's Five Forces Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 By Product
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2.1.1 Wound Care
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2.1.1.1 Dressings
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2.1.1.2 Bandages
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2.1.1.3 Topical Agents
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2.1.1.4 Wound Care Devices
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2.1.2 Wound Closure
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2.1.2.1 Suture
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2.1.2.2 Surgical Staplers
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2.1.2.3 Tissue Adhesives, Sealants, and Glue
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2.2 By Wound Type
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2.2.1 Chronic Wound
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2.2.1.1 Diabetic Foot Ulcer
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2.2.1.2 Pressure Ulcer
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2.2.1.3 Arterial and Venous Ulcer
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2.2.1.4 Other Chronic Wound
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2.2.2 Acute Wound
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2.2.2.1 Surgical Wounds
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2.2.2.2 Burns
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2.2.2.3 Other Acute Wounds
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United Kingdom Wound Care Management Market Size FAQs
What is the current United Kingdom Wound Care Management Market size?
The United Kingdom Wound Care Management Market is projected to register a CAGR of 6.80% during the forecast period (2024-2029)
Who are the key players in United Kingdom Wound Care Management Market?
Johnson & Johnson, 3M, Smith & Nephew, Convatec Inc. and Medtronic PLC are the major companies operating in the United Kingdom Wound Care Management Market.