The wound irrigation system market size was estimated to be US$ 259.64 million in 2021 and US$ XX million in 2023 and is expected to reach US$ 352.45 million by 2031; it is estimated to record a CAGR of 3.1% till 2031. Product innovations are likely to remain key trends in the market.
Wound Irrigation System Market Analysis
Global increase in chronic diseases such as autoimmune disorders, diabetes, and cancer is burdening healthcare systems worldwide. Chronic diseases directly impact the human body's natural ability to heal. Immunodeficiency conditions and diabetes are among the most harmful conditions that can slow wound repair. Diabetes is the commonly identified chronic disease associated with hospital-acquired and facility pressure injuries. It impacts the immune system, making infections more common and complicating wound healing. As per the International Diabetes Federation (IDF), the total number of people living with diabetes is anticipated to increase to 643 million by 2030 and 783 million by 2045. Therefore, the prolonged healing process due to chronic diseases leads to a long-term requirement for wound care, resulting in high demand of wound irrigation system propelling the wound irrigation system market growth.
Wound Irrigation System Market Overview
Global wound irrigation systems market is segmented by region into Asia Pacific, North America, Europe, Middle East & Africa, and South & Central America. According to the World Health Organization (WHO), approximately 1.3 million people die in road traffic crashes every year. Furthermore, between 20 and 50 million people suffer non-fatal injuries, with many experiencing disabilities due to their injuries. Thus, the growing number of road accidents is leading to an increased use of wound irrigation systems as it is an essential element of standard wound care.
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Wound Irrigation System Market: Strategic Insights
Market Size Value in US$ 238.43 Million in 2018 Market Size Value by US$ 310.43 Million by 2027 Growth rate CAGR of 3.0% from 2019-2027 Forecast Period 2019-2027 Base Year 2019
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Wound Irrigation System Market: Strategic Insights
| Market Size Value in | US$ 238.43 Million in 2018 |
| Market Size Value by | US$ 310.43 Million by 2027 |
| Growth rate | CAGR of 3.0% from 2019-2027 |
| Forecast Period | 2019-2027 |
| Base Year | 2019 |
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Wound Irrigation System Market Drivers and Opportunities
Increasing Rise in the Geriatric Population to Favor Market
An elderly population is a group of people aged 65 and over. According to data provided by the United Nations, in 2017, the community that is 60 years and above is growing at a rate of about 3 percent annually. Worldwide, the number of individuals above 80 years of age is expected to triple by 2050. The aged population was almost 137 million in 2017, which will reach up to 425 million in 2050.
The aging population is more likely to have chronic wounds than the young population, and the effect of chronic wounds on life quality is particularly severe in this population. The process of wound healing is extended in the aging population, due to the basic biology underlying chronic wounds and the influence of age-related changes on wound healing with an increase in the number of geriatric populations. The prevalence of chronic diseases and related injuries has increased. Therefore, the demand for wound irrigation systems is expected to increase in the coming years.
Growth in the Global Healthcare Market
The healthcare industry has been experiencing rapid transformations in recent years, with various technological advancements being witnessed. Technology-enabled care (TEC) solutions are being preferred in healthcare systems in emerging economies to meet the growing demand for better healthcare facilities. Growing incidence of chronic illnesses, rising aging population, and increase in the need for pediatric care are the major factors driving the growth of the healthcare sector.
A number of established market players have been investing a significant amount of their revenue in research and development activities to develop better and more advanced products and technologies for use in the healthcare industry. Additionally, the availability of reimbursement for various medical procedures is expected to fuel the industry's growth in the coming years.
The presence of regulations laid down by government bodies makes it possible to obtain better and more reliable healthcare facilities, ensuring quality care and patient safety while mitigating fraud and cyber threats.
There has been a significant increase in healthcare expenditure in recent years. According to the latest estimates of the Organization for Economic Cooperation and Development (OECD) Health Statistics 2023 database, the average health expenditure to GDP ratio for OECD countries decreased from 9.7% at the peak of the pandemic in 2021 to 9.2% in 2022. This ratio is still higher than the pre-pandemic level of 8.8%, although in 11 OECD countries, the ratio in 2022 is projected to have fallen below the 2019 pre-pandemic levels. When looking at country-level data, the USA had the highest health expenditure to GDP ratio at 16.6% in 2022, followed by France at 12.1% and Germany at 12.7%. The factors mentioned above are projected to offer wide growth opportunities in the wound irrigation system market.
Wound Irrigation System Market Report Segmentation Analysis
Key segments that contributed to the derivation of the wound irrigation system market analysis are product, wound type, and end user.
- Based on the product, the wound irrigation system market is bifurcated into manually operated and battery operated. The battery segment held a larger market share in 2023.
- By wound type, the market is segmented into burns, chronic wounds, surgical wounds, traumatic wounds, and others. The segment of chronic wounds held the largest share of the market in 2023.
- In terms of end users, the wound irrigation system market is segmented into ambulatory care centers, hospitals, and others. The hospitals segment held a significant share of the market in 2023.
Wound Irrigation System Market Share Analysis by Geography
The geographic scope of the wound irrigation system market report is primarily divided into five regions: Europe, North America, Asia Pacific, Middle East & Africa, and South & Central America.
North America has dominated the market. In US rates of chronic injuries among older people in the country are significantly high in the country. As per data published by Wound Healing Society, In the US, 3% of the population that is aged 65 years and above have open wounds. Hence, the factors as mentioned above, are anticipated to fuel the growth of North America wound irrigation systems market during the forecast period.
Wound Irrigation System Market Report Scope
Wound Irrigation System Market News and Recent Developments
The wound irrigation system market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes association data, important corporate publications, and databases. A few of the developments in the wound irrigation system market are listed below:
- In April 2022, Sanara MedTech Inc., a provider of products and technologies for surgical and chronic wound care dedicated to improving patient outcomes, announced the completion of the previously announced merger to acquire Precision Healing Inc. (Source: Sanara MedTech Inc. Press Release, April 2022)
- In June 2021, Irrimax Corporation, the manufacturer of Irrisept, announced new clearance from the U.S. Food and Drug Administration (FDA), making Irrisept the only self-contained irrigation system for antimicrobial wound lavage in the US market. Currently, over 2,000 US hospitals are using the Irrisept, totaling more than 2 million lifetime uses. (Source: Irrimax Corporation, Newsletter, June 2021)
Wound Irrigation System Market Report Coverage and Deliverables
The “Wound Irrigation System Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Wound irrigation system market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Wound irrigation system market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed SWOT analysis and PEST/Porter’s Five Forces
- Wound irrigation system market analysis covering key market trends, global and regional framework, regulations, major players, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the wound irrigation system market
- Detailed company profiles.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Product , Wound Type , End User and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
Frequently Asked Questions
The North America region held the largest share of in the wound irrigation system market 2023.
Factors such as increasing prevalence of diabetes & related chronic wounds and increasing rise in the geriatric population propel the wound irrigation system market.
Product innovations be the trend in the wound irrigation system market
The wound irrigation system market majorly consists of the players, including Zimmer Biomet, BSN Medical and C.R.Bard (BD), CooperSurgical, Inc. Stryker, Centurion Medical Products, Sunmed, PulseCare Medical, Bionix Development Corporation, Westmed, Inc., and PulseCare Medical, LLC.
The wound irrigation system market is expected to be valued at US$ 352.45 million in 2030.
The wound irrigation system market is estimated to record a CAGR of 3.1% till 2031.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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