Covalent has 6.5 % of Saudi Wound care Device Market Covalon's new wound care products with the recent $11.1 million contracts now have 6.5 % of the Saudi Market ( 11.1/$170 million cad ).
Actually, with 3 other unspecified contracts, its higher than that
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The major trend driving the wound care management devices is the increase in the number of Government initiatives towards the prevention of wounds and injuries and the technological advancements taking place simultaneously.
The Saudi Arabia wound care management devices Market is currently estimated to be valued as $0.134 billion for the year 2014 and is expected to reach $0.185 billion by the end of 2019. The CAGR during this period of forecast is 6.62%.
This escalation is developing the need to analyze, review and to forecast the growth of the wound care management device market. Owing to the rapid evolution of market in the use of wound closure devices, medical device companies which are able to launch new innovative equipment will be awarded with huge benefits.
Drivers
Increase in the aging population, rise in chronic wounds, ulcers and diabetes population, increase in the number of surgeries, rise in the number of government initiatives towards prevention of injuries and the rapid rise in the technological advancements are the major factors driving the growth of the wound care management device market.