Pune, Jan. 18, 2023 (GLOBE NEWSWIRE) -- As per Maximize Market research, a global business research and consultancy firm, the total global market for “Wound Care Market” was USD 19.3 billion in 2021 and is expected to grow at a CAGR of 7.5 % over the forecast period to reach USD 34.42 Billion by 2029.
Wound Care Market Scope and Research Methodology:
The Wound Care market is segmented based on Product, Type, End User, and Region. The growth of various segments helps our clients in acquiring knowledge of the many growth factors expected to be prevalent throughout the market and develop different strategies to help identify core application areas and the gap in the target market. The Wound Care report provides an in-depth analysis of the market and contains meaningful insights, facts, historical data, and statistically supported and industry-validated market statistics. It also includes estimates based on an appropriate set of assumptions and methodologies.
The bottom-up approach has been used to estimate the Wound Care market size. Major Key Players in the Wound Care market are identified through secondary research and their market revenues are determined through primary and secondary research. Secondary research included a review of annual and financial reports of leading manufacturers, while primary research included interviews with important opinion leaders and industry experts such as skilled front-line personnel, entrepreneurs, and marketing professionals. Some of the leading key players in the global Wound Care market are Smith 7 Nephew plc (UK), Coloplast A/S (US), and Medtronics plc (US.). These companies are continuously strategizing on mergers and acquisitions, strategic alliances, joint ventures, and partnerships for the growth of their market shares.
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Global Wound Care Market Overview
Wound care is a medical specialty that focuses on the treatment of non-healing wounds. Wound treatment and management are important stages in preventing catastrophic consequences. Oxygenation, infection, age and sex hormones, stress, diabetes, obesity, medicines, alcoholism, smoking, and an unhealthy diet are all factors contributing to non-healing wounds. The demand for wound care and wound healing products is increasing because of the rising number of surgical cases, and the rising prevalence of chronic diseases across the globe.
Global Wound Care Market Dynamics
Wound care products such as wound healing therapies assist in the treatment of diabetic foot ulcers, which are prevalent in diabetes patients. According to ScienceDirect, diabetic foot ulcers may affect more than 25% of the diabetic population and result in foot amputation in 20% of patients. Wound care products such as hydrocolloid dressings assist in moisture retention and allow for faster wound healing both internally and externally. Furthermore, these products help in the absorption of necrotic tissues, which is beneficial in cases of surgical site infections. As a result, healthcare professionals prefer to use wound care products, which is expected to drive market growth throughout the forecast period.
The growing number of Ambulatory Surgical Centers (ASCs) is likely to boost the wound care market. ASCs provide a wide range of treatments, such as surgical care, diagnostics, and preventative care. Ambulatory surgical centers also perform pain treatment, urology, orthopedics, restorative, reconstructive, or alternative plastic procedures, and Gastro-Intestinal (GI) related surgeries. Furthermore, as the number of ASCs increases, they can provide more cost-effective services. As a result of the growing number of ASCs, the market is likely to grow throughout the forecast period.
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Global Wound Care Market Regional Insights
The APAC region is expected to develop considerably throughout the forecast period for the Wound Care industry. Changing lifestyles are increasing the prevalence of chronic diseases in this region, which is driving regional growth throughout the forecast period. China is likely to lead the Asia Pacific wound care market. The rapidly growing diabetes population is likely to drive up demand for wound treatment in the region. According to the International Diabetes Federation (IDF), the country will have the most diabetes patients in the world in 2021, with around 116 million active cases. Because of the presence of key companies such as BSN Medical in the country, the Wound Care market in India is expected to grow significantly during the forecast period.
| Market Size in 2021 | USD 19.3 billion |
| Market Size in 2029 | USD 34.42 billion |
| CAGR | 7.5 % (2022-2029) |
| Forecast Period | 2022-2029 |
| Base Year | 2021 |
| Number of Pages | 213 |
| No. of Tables | 110 |
| No. of Charts and Figures | 112 |
| Segment Covered | Product, Type, End User, and Region. |
| Regional Scope | North America, Europe, Asia Pacific, Middle East and Africa, South America |
| Report Coverage | Market Share, Size & Forecast by Revenue | 2022−2029, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players’ Market Ranking Analysis. |
Global Wound Care Market Segmentation
By Product:
- Advanced wound management products
- Surgical wound care products
- Traditional/Basic wound care products
By Type:
- Chronic
- Acute
By End User:
- Hospital
- Long term care
- Home healthcare
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Global Wound Care Market Key Competitors:
- ConvaTec Healthcare B S.a.r.l. (UK)
- Smith 7 Nephew plc (UK)
- Coloplast A/S (US)
- Medtronics plc (US)
- Acelity L.P Inc. (US)
- 3M Company (US)
- Alliqua BioMedical (US)
- Fidia pharama USA Inc.(US)
- Wound Care Technologies (US)
- Integra LifeSciences Holding Corporation (US)
- Baxter International Inc.(US)
- Organogenesis Inc. (US)
- DeRoyal Industries (US)
- IonMed (US)
- Ethicon (US)
- Hill-Rom Holdings (US)
- Leap Therapeutics Inc.(US)
- NovaBay Pharmaceuticals (US)
- Derma Science (South Africa)
- Vivostat ( Slovenia)
- Molnlycke Health Care AB (Sweden)
- Paul Hartmann AG (Germany)
- BSN Medical GmbH (Germany)
- Triage Meditech Pvt. Ltd (India)
Key questions answered in the Global Wound Care Market are:
- What is the growth rate of the Global Wound Care Market during the forecast period?
- What is the nature of competition in the Global Wound Care industry in developed economies and developing economies?
- Which are the top five key market leaders in the Wound Care Market?
- What will be the future innovation in the Wound Care market in the upcoming six years?
- Which Type and End-Use Industry will lead the largest share of the Market?
- What are the growth drivers, restraints, and challenges of the Wound Care industry?
- What will be the CAGR and size of the Wound Care Market for the base year and forecast period?
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Key Offerings:
- Market Share, market size, its growth rates & Forecast by Revenue | 2022−2029
- Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Key Trends
- Market Segmentation – A detailed analysis by Product, Type, End User, and Region.
- Competitive Landscape – Top Key players and Other Prominent Vendors
Maximize Market Research is leading research firm, has also published the following reports:
Advanced Wound Care Market – The market size is expected to reach USD 14.76 Bn. by 2029, at a CAGR of 5.81 % during the forecast period. An increase in the aging population and the increasing number of diabetic patients are some major factors driving the Advanced Wound Care market’s growth.
Wound Debridement Market - The was valued at USD 4.33 Bn. in 2021 and the total Wound Debridement revenue is expected to grow at 3.7 % during the forecast period. The rise in the aging population around the globe further drives the growth of the wound debridement market during the forecast period.
Healthcare Fabrics Market - The market size was at USD 18.2 billion in 2021 and the total revenue is expected to grow at 7 % of CAGR during the forecast period. The growing demand for high-quality wound dressing materials, combined with growing consumer awareness is driving the Healthcare Fabrics Market during the forecast period.
Surgical Wound Closure Device Market - The market is expected to reach USD 30.22 Bn. by 2029. The market is primarily being pushed by the increase in surgical procedures being carried out globally during the forecast period.
Tattoo Removal Market - The tattoo removal market size was valued at USD 3702.4 Mn. in 2021 and the total revenue is expected to grow at 13.8 % during the forecast period. A growing number of tattoo consumers along with tattoo regrets people across the globe is expected to provide a huge opportunity for market growth during the forecast period.
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