NEWARK, Del, Nov. 28, 2023 (GLOBE NEWSWIRE) -- The global chronic wound care market was valued at US$ 16,689.3 million in 2022 and is anticipated to exhibit a CAGR of 3.8% from 2023 to 2033. It is projected to attain a valuation of US$ 17,272.4 million in 2023. It will likely reach US$ 25,042.5 million by 2033.
Antimicrobial dressings are essential for preventing infections. Healthcare professionals are increasingly using antimicrobial dressings in their wound care protocols as knowledge of the importance of infection control increases. Antimicrobial wound dressings are manufactured to reduce the bacterial load and accelerate healing to create an ideal wound-healing environment.
Patients and healthcare professionals are more likely to choose antimicrobial dressings over traditional dressings when they are aware of these benefits. Antimicrobial dressings are becoming more common owing to their faster healing ability and better outcomes.
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Companies in the chronic wound care market are heavily spending on research and development to introduce new and improved solutions. Innovative dressing materials, cutting-edge technology integration, and enhanced antibacterial properties are the key aims of research and development. Businesses seek to maintain their competitiveness and adapt to the changing needs of both patients and healthcare providers through these expenses.
The development of antimicrobial wound dressings with improved qualities and functions is the focus of research and development spending. This includes the development of dressings with higher biocompatibility, longer wear times, improved moisture management, and simplicity of use. The goal of research and development is to develop novel solutions that specifically address the needs of patients and healthcare professionals.
Key Takeaways from the Chronic Wound Care Market Study
- By product, the advanced wound dressing segment is expected to witness a CAGR of 0% over the forecast period.
- By wound type, the other ulcers segment is set to hold a lucrative CAGR of 8% from 2023 to 2033 and hold a market share of 49.6% in 2022.
- By distribution channel, the hospital segment held about 4% market share in 2022.
- North America is considered the leading region, with a value share of 8% by 2033.
- India held about 1% share of the global market in 2022 and is projected to showcase robust growth during the forecast period.
“The increasing incidence of diabetic foot ulcers in the elderly in developing countries is leading to a steady demand for antimicrobial wound dressing products. The chronic wound care market is expected to witness an advancement over the forecast period,” Says Sabyasachi Ghosh Associate Vice President at Future Market Insights, Inc.
Scope of the Report:
| Attribute | Details | ||
| Chronic Wound Care Market Size (2023) | US$ 17,272.4 million | ||
| Chronic Wound Care Market Forecast Value (2033) | US$ 25,042.5 million | ||
| Value-based CAGR (2023 to 2033) | 3.8 % | ||
| Forecast Period | 2023 to 2033 | ||
| Historical Data Available for | 2018 to 2022 | ||
| Market Analysis | Value (US$ million) | ||
| Key Regions Covered | North America, Latin America, East Asia, South Asia Pacific, Western Europe, Eastern Europe, Central Asia, Russia and Belarus, Balkan and Baltic Countries, Middle East and Africa | ||
| Key Countries Covered | United States, Canada, Brazil, Mexico, Argentina, China, Japan, South Korea, India, Indonesia, Thailand, Philippines, Malaysia, Vietnam, Australia and New Zealand, Western Europe, Eastern Europe, Germany, GCC Countries, Türkiye, Northern Africa, South Africa, Israel. | ||
| Key Market Segments Covered |
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| Key Companies Profiled |
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Competitive Landscape
The key tactics used by the industry's top producers, such as AstraZeneca and Perrigo Company plc, to increase their market share and contend with rivals in the years to come include brand and company acquisitions and expansion. Below are a handful of instances of their growth and procurement strategies to attain a significant valuation-
- In September 2021, according to a press release from Perrigo, funds connected to the private equity companies Astorg and Goldman Sachs Asset Management have accepted its binding offer to purchase HRA Pharma.
- In March 2021, as part of Horizon Therapeutics plc, AstraZeneca completed the sale of its 26.7% share in Viela Bio, Inc. (Viela).
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Chronic Wound Care Market Outlook by Category:
By Product:
- Advanced Wound Dressings
- Antimicrobial Dressings
- Silver Dressings
- Non-Silver Dressings
- Foam Dressings
- Silicon
- Non-Silicon Dressings
- Hydrogels Dressings
- Semi-Permeable Films Dressings
- Alginate Dressings
- Hydrocolloid Dressings
- Collagen Dressing
- Contact Layer
- Honey Dressings
- Super Absorbent Dressings
- Other
- Antimicrobial Gels
- Antimicrobial Powder
- Concentrated Surfactant
- Skin Protectants
- Wound Cleansers
- Unna Boots
- Tapes
- Antimicrobial Dressings
- Drugs
- Topical Drug
- Becaplermin
- Gentamicin
- Minocycline
- Lidocaine
- Sulfadiazine
- Others
- Oral Drugs
- Colchicine
- Prednisolone
- Aspirin
- Anticoagulants
- Warfarin
- Others
- Topical Drug
- Biologics
- Biological Skin Substitutes
- Biomembranes
- Negative Pressure Wound Therapy (NPWT) Devices
- Standalone NPWT Devices
- Disposable NPWT Devices
- Portable NPWT Devices
- NPWT Accessories (Canister)
By Wound Type:
- Diabetic Foot Ulcers
- Venous Ulcers
- Pressure Ulcers
- Other Ulcers
By Distribution Channel:
- Hospitals
- Specialty Clinics
- Ambulatory Surgical Centers
- Long-Term Care Centers
- Retail Pharmacies and Drug Stores
- Hypermarkets and Supermarkets
- Online Sales
Author:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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Antimicrobial Wound Care Dressings Market Outlook: This Market is estimated to be worth US$ 1.38 billion, with a CAGR of 6.4%. The global antimicrobial wound dressings market is expected to reach US$ 2.57 billion by 2033.
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Wound Skin Care Market Analysis: The global market is estimated to secure a valuation of US$ 8.5 Billion in 2023 and is estimated to rise to US$ 13.2 Billion by 2033.
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