"Latin America Wound Care Product Market
With the increase in the number of chronic diseases in Latin America, the wound care products market is becoming more popular due to easier access to new healing technologies. One such example is the demand for combination dressings. The Latin America wound care product market is anticipated to expand at an overall compound annual growth rate (CAGR) of 6.4 % and will be worth USD 2.40 Bn by 2023.
Latin America is becoming an important market since the technology has grown manifold in this region. In 2017, Latin America generated only 10.2% of the revenue of the global wound care product market.
By countries, the Latin America wound care product market is classified into Brazil, Mexico, Argentina, and other markets. Brazil is one the largest economies in the Latin America region. The country, being the most important and vital market for Latin American healthcare, is undergoing a healthcare revolution. This is why Brazil has massive opportunities for wound care product manufacturers to propel their businesses.
By product type, Latin America wound care products are used for surgical wound care, advanced wound care, and traditional wound care. Surgical wound care dominates the market. The Latin American market though faced a downturn recently but is expected to bounce back in the coming years.
Key growth factors
o New business strategies for advanced wound care treatment are designed to capitalize on the prevalent opportunities in the market in this region.
o The number of middle-class people is expected to increase in the emerging markets which will lead to improved access to better healthcare and awareness about cost-effective advanced wound therapies.
Threats and key players
o High technical assistance is required for the use of advanced wound care devices. The absence of such personnel is a challenge for the wound care market in this region.
o High costs and repayment issues for the new technologies associated with wound care treatment deter market growth.
o The key players in this market are Acelity L.P., Inc., Integra LifeSciences Corporation, ConvaTec, Inc., Coloplast Corporation, and Smith and Nephew Plc.
What's covered in the report?
1. Overview of the Latin America wound care product market
2. The current and forecasted market size data for the Latin America wound care product market
3. The current and forecasted market size data for the segments of the market, based on product type – surgical wound care products, advanced wound care products, and traditional wound care products
4. The current and forecasted market size data for the segments of the market, by application – chronic wound care products, and acute wound care products
5. The current and forecasted market size data for the segments of the market, by end user – hospitals and specialty wound care clinics, long-term care facilities, and home healthcare
6. The current and forecasted market size data for the segments of the market, by country - Brazil, Mexico, Argentina and the Rest of LATAM
7. Market trends in the Latin America wound care product market
8. Market drivers and challenges in the Latin America wound care product market
9. Analysis of competitor profiles of the major players operating in the market
1. Get a broad understanding of the Latin America wound care product market and its segments - by region, by product types, by application, and by end-user
2. Get region-specific drivers and challenges affecting the Latin America wound care product market
3. Recognize significant competitors' business and market dynamics, and respond accordingly
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