Dublin, Jan. 25, 2024 (GLOBE NEWSWIRE) -- The "Global Topical Wound Agents Market Size, Share & Trends Analysis, 2023-2030" report has been added to ResearchAndMarkets.com's offering.
This report projects a robust growth trajectory for the sector. The market size is expected to expand significantly, reaching a valuation of $2.5 billion by 2030, at a CAGR of 8.4% during the forecast period between 2023 and 2030.
Topical wound agents are critical in treating a variety of wound types, including those that are chronic, acute, surgical, and traumatic. With advancements in healthcare and rising incidences of diabetes and road accidents, there is an increasing need for effective wound management products that can accelerate healing, prevent infections, and manage exudate.
Market Segmentation Highlights
The report segments the market based on end-use, application, product type, and regional demographics. Hospitals accounted for the largest end-use segment, reaffirming their crucial role in wound care management. In terms of application, acute wounds held a significant share, echoing the demand for products designed for immediate wound treatment, especially post-surgery.
Further, the chronic wounds category, including diabetic foot ulcers and pressure ulcers, was highlighted for its substantial part of the market, indicating a pressing need for advanced wound care in the management of long-duration wounds. The product-based analysis pointed to creams as the most used topical wound agent due to their ease of application and effectiveness.
Regional Analysis
Geographical insights reveal that North America leads the market, backed by a comprehensive healthcare infrastructure and a higher prevalence of chronic diseases necessitating advanced wound care solutions. The impact of regional market dynamics was further elaborated, considering the trends and growth factors specific to key areas.
Key Insights and Market Trends
- Technological advancements have led to the development of innovative wound care products, including bioactive agents, antimicrobial dressings, and others, enhancing the standard of care in treating wounds.
- The Global Topical Wound Agents Market is driven by the increasing occurrence of chronic conditions, such as diabetes, which contribute significantly to the prevalence of chronic wounds like diabetic foot ulcers.
- The ongoing impact of the COVID-19 pandemic on healthcare resources also plays a pertinent part in shaping the market landscape, particularly as it pertains to wound care.
- Concerns over the high cost associated with chronic wound treatment pose challenges that market players continue to address through cost-effective solutions.
Companies Mentioned
- Smith & Nephew PLC
- Teva Pharmaceutical Industries Ltd.
- Molnlycke Health Care AB
- Viatris, Inc. (Mylan N.V.)
- AstraZeneca PLC
- Coloplast Group
- Novartis AG
- Pfizer Inc.
- Johnson & Johnson (Johnson & Johnson Services, Inc.)
- ConvaTec Group PLC
For more information about this report visit https://www.researchandmarkets.com/r/3nv507
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