(EMAILWIRE.COM, November 08, 2019 )
Market Outlook:-
A gunshot wound (GSW), also known as ballistic trauma, is a form of physical injury sustained from the discharge of arms or bullets or any other projectiles.
GSWs are painful and extremely traumatic for the injured person as these wounds cause high blood loss and at times site of injury cannot heal quickly, and the open wound attracts other infections. Management of GSWs can range from local wound care to urgent surgical intervention.
Damage caused due to gunshot depends on the location of the injury and type of bullet that inflicted it. GSWs can cause severe damage to tissues and organs, wound infections, paralysis, and sometime it may lead to death.
Market Dynamics:-
Primary drivers of the gunshot injuries market are increasing incidences of firearm-related crime resulting in non-fatal gunshot wounds, incidents of war, armed riots, and the rising crime rates. These factors are expected to boost the growth of the gunshot injuries treatment market across the globe.
For instance, in 2017 alone, 11 mass shootings in the US caused 117 fatalities and 587 injuries occurring in concert, religious, workplace, airport, and shopping venues and the community. According to the CDC, there were 1,555 firearm fatalities in Pennsylvania alone, in 2016.
However, limited availability of products mainly in the emerging economies, alternative methods, and options for treating the gunshot wounds, along with the stringent guidelines for products approved by the government may hinder the growth of the gunshot injury market.
Market Segmentation:-
By Product type, the global gunshot injury is segmented into Xstat, Airwrap, and Floseal. Xstat share dominants the product segment is owing it to the increase in adoption of the product due to its efficiency in preventing blood loss and the novelty of the product.
January 2017, RevMedx announced that the Highland Park Department of Public Safety (Highland Park, TX) is fielding XSTAT as a new treatment option in their medical and trauma kits. Xstat is prescription devices that work using a syringe-like applicator to inject a group of small, rapidly-expanding sponges into a wound cavity.
After inserting, the sponges rapidly expand and exert pressure and closing up the wound. XSTAT can stop bleeding in seconds to stabilize injuries until patients reach emergency care, unlike traditional methods which take several minutes to come into effect.
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Geographical Trends:-
Based on geography the market is segmented into North America, South America, Europe, Asia Pacific and Rest of the world.
North America accounts for the largest share in the gunshot injuries market, followed by Europe. It is a crucial contributor to the market as it a developed region with high spending of GDP in healthcare, especially in the US and Canada, increased research and development expenditure and availability of advanced gunshot wound care products such as sponge-filled syringes and bandages.
The Asia Pacific is expected to witness the most significant growth regarding the consumption of gunshot injuries products.
The growth of the share is supposed to be driven by China and India owing it to their large populations, increasing gun-related crime cases, rise in accessibility of wound care products, and developing health care infrastructure. The gunshot injuries market in the Middle East, Africa, and South America is anticipated to expand during the forecast period, owing to the expected launch of wound care products in these regions.
Competitive Landscape:-
Key companies in this market are RevMedx, Inc. and Baxter Healthcare Corporation.
For instance, XStat was manufactured by RevMedx is the only gunshot injury management device which is extensively used on battlefields, globally. Xstat was approved by the FDA in April 2014, to plug up life-threatening wounds. It is a sponge-filled syringe that can plug deep and narrow wounds from gunshots or stabbings in seconds.
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