The global wound care market size was valued at USD 19.83 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 4.1% from 2021 to 2028. The demand for wound care products is increasing owing to the growing geriatric population; the high prevalence of chronic diseases, such as diabetes, cancer, and other autoimmune diseases; and the rising number of Ambulatory Surgical Centers (ASCs) across the globe.
Advanced wound care solutions are innovative products, which are introduced for welfare of patients suffering from wound related concerns such as ulcers and diabetes. Rise in diseases, which take long time for healing require such advanced wound care solutions for better treatment. According to the International Diabetes Federation (IDF), presently, more than 460 million people between 20 and 79 years of ages are living with diabetes worldwide and by 2045 this number is expected to rise to 700 million. Diabetes is a chronic disease, which is known to give rise to complex conditions, which usually do not heal on their own and require surgery. For instance, diabetic foot ulcers usually turn out to be infectious and at times patient may end up with amputations. In such cases, advanced wound care dressings and devices are beneficial to ease suffering of patients.
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Wound care products are, thus, increasingly being used to prevent surgical site infections. Most surgical wounds post-cancer surgery are relatively large in size and deep, producing exudate that requires regular management. The wound care products, such as Negative Pressure Wound Therapy (NPWT) devices, sutures, and staples, help manage large wounds, significantly reducing the risk of infection.
Key Player Mentioned:
Smith & Nephew PLC
Mölnlycke Health Care AB
Acelity (KCI Licensing, Inc.)
ConvaTec Group PLC
Ethicon Inc. (Johnson & Johnson)
Baxter International, Inc.
Coloplast Corp.
Medtronic PLC
Product Segment Analysis:
- Advanced Wound Dressing
- Surgical Wound Care
- Traditional Wound Care
- Wound Therapy Devices
Application Segment Analysis:
Chronic Wounds
Acute Wounds
The advanced wound care market is segmented on the basis of product, application, end user, and region. By product, the market is segmented into infection management, exudate management, active wound care, and therapy devices. Infection management is further sub segmented into silver dressings, non-silver dressings, and collagens. Exudate management is further sub segmented into hydrocolloid dressings, foam dressings, alginate dressings, and hydrogel dressings. Active wound care is further divided into skin substitutes and growth factors. Therapy devices is further categorized into negative pressure wound therapy (NPWT), oxygen and hyperbaric oxygen equipment, electromagnetic therapy devices, and others.
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Regional Segment Analysis:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
KEY aspects covered in the report include:
- The market size and industry growth rate of the global and regional market across various segments
- The region or the sub-segment that is expected to drive the Wound Care market in the forecast period 2021-2028
- Key companies operating in the global Wound Care market and their market share
- The Factors that are estimated to drive the Wound Care Market growth
- Key opportunities in the Wound Care market
- Key technological advancements and market trends that shape the market
The study objectives of this report are:
- To research global status, future forecasts, growth opportunities, key markets and key players.
- To present the market development in us, Europe and China.
- To strategically profile the key players and comprehensively analyze their development plan and methods.
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
