New York, US, Aug. 05, 2021 (GLOBE NEWSWIRE) -- Wound Care Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “Wound Care Market Information by Type, Product, Application, End Users, and Region - Forecast till 2027”, the market is anticipated to reach USD 29,900 Million by 2027.
Market Scope:
The growing prevalence of chronic and acute illnesses is contributing to the increase in wound care need. Wound care items account for a sizable share of hospital and clinical supplies. With the constant advent of new and enhanced products, wound care product categories have continued to expand throughout the forecast period.
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Competitive Landscape:
The eminent players operating in the global wound care market include top wound care companies –
- B. Braun Melsungen AG
- 3M
- Baxter
- Ethicon Inc.
- Smith & Nephew
- ConvaTec
- Kinetic Concepts Inc.
Market Drives
Due to their success in the treatment of wounds, advanced wound care products have received numerous awards during the previous decade. The increasing prevalence of acute and chronic wounds in patients, the rise in the worldwide geriatric population, and advantageous reimbursement scenarios are all contributing to the global wound care market's growth. Other macroeconomic reasons, such as an increase in global healthcare spending, have also contributed to the market's expansion. The growth of the global wound care market is due to an increase in the prevalence of chronic and acute wounds as a result of an increase in the number of surgeries and severe burns, as well as an increase in the number of road accident injuries, which is driving up demand for wound closure products.
Another factor fueling the global wound care market's expansion is the growing worldwide elderly population. Because senior patients have a higher risk of surgical complications, the market for wound care products is projected to grow. Favorable reimbursement conditions in developed nations have aided market expansion, as payment facilities for wound closure in hospitals have enhanced the affordability factor of wound care products, resulting in high demand.
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Market Restraints:
Even though the worldwide wound care products market appears to have a bright future, it may be constrained by a number of factors, one of which is the high cost of wound care products.
COVID-19 Analysis
COVID-19 is a highly contagious virus that puts a strain on the healthcare system. The scarcity of medical resources has become a problem as the number of verified cases grows. To prevent the healthcare system from collapsing during the fight against COVID-19, all healthcare workers, particularly wound care practitioners, should adapt to new responsibilities and adopt any available ways to slow the virus's spread. During an outbreak, incorporating telemedicine into wound care helps maintain social distance, preserve personal protective equipment and medical resources, and reduce unnecessary exposure for both vulnerable patients and high-risk healthcare personnel.
Market Segmentation
The global wound care market is divided into product, type, application, and end user segments.
Advanced wound management products, wound treatment devices, traditional wound care goods, wound care products, and active wound care products have been included in the product segment.
The global wound care market has been divided into two types: chronic wounds and acute wounds.
The global wound care market has been divided into surgical wounds, ulcers, burns, trauma wounds, and others based on application.
The market has been divided into hospitals, clinics, home healthcare, trauma centers, and others based on the end user.
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Regional Insights:
North America, Europe, Asia Pacific, and the Rest of the World are all part of the global wound care market. Because of the large number of diabetic patients, North America holds the largest share of the global wound care industry. Diabetes patients require more time for wound healing, which increases the demand for wound closure solutions. Furthermore, due to the region's high healthcare spending, hospitals and healthcare organizations invest a significant amount in modern wound care products in order to deliver better healthcare services. The United States is the leading contributor to the wound care market in North America.
Europe is the second-largest wound-care market, with significant increase projected over the projection period. The rise in diabetes cases, technological developments, and favorable government efforts all contribute to the market's expansion in Europe. The United Kingdom and Germany are the two most important contributors to the European market.
Asia Pacific is a promising market that is predicted to develop at a faster-than-average rate of more than 6% over the projection period. The growing elderly population, the frequency of chronic wounds, and the presence of other severe diseases in the region all contribute to a favorable environment for the wound care market in Asia Pacific to flourish.
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