In a recent published report, Kenneth Research has updated the Market report for Latin America Wound Care Product Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Latin America Wound Care Product Market Products.
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According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018. Moreover, growing concern for deaths caused due to various diseases and the need for treatment that can lower the crude death rate, which in the year 2019 recorded close to 7% (per 1000 people), are also anticipated to drive the market growth during the forecast period.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
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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The Market report answers the following questions:
What is the aim of the report?
- The market report presents the estimated market size of Latin America Wound Care Product Market by the end of forecast period. Additionally, the historical and current market size is also examined in the report.
- Based on various indicators, the Year-on-Year growth (%) and compound annual growth rate (CAGR) for the given forecast period is offered.
- An overview of the Market based on geographical scope, market segmentation and financial performance of key players is presented in the report.
- The report presents current trends in the industry and future scope of the Market in North America, Asia Pacific, Europe, Latin America and Middle East and Africa.
- The various parameters accelerating the growth of Market are incorporated in the research report.
- The report analyzes growth rate, market size and valuation of the Market during the forecast period.
What aspects regarding the regional analysis Market are included in this report?
- Geographical regions covered in the report include North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
- The report consists of detailed region-wise analysis of current and future market trends, providing information on product usage and consumption.
- The growth rate of the market in every region, including their countries over the forecast period is included in the market report.
Based on what factors are the key market players assessed in this report?
- The report offers detailed analysis of leading companies in the market across the globe.
- It provides details of the major vendors involved in the Market including Key Playes
- A comprehensive overview of each company including the company profile, generated revenue, pricing of goods and the manufactured products is incorporated in the report.
- The facts and figures about market competitors along with standpoints of leading market players are presented in the report.
- The recent developments, mergers and acquisitions related to mentioned key players are provided in the market report.
What is the key information extracted from the report?
- Extensive information on factors estimated to affect the Market growth and market share during the forecast period is presented in the report.
- The report offers the present scenario and future growth prospects Market in various geographical regions.
- The competitive landscape analysis on the market as well as the qualitative and quantitative information is delivered.
- The SWOT analysis is conducted along with Porter’s Five Force analysis.
- The in-depth analysis provides an insight into the Market, underlining the growth rate and opportunities offered in the business.
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