New York, USA, Feb. 10, 2023 (GLOBE NEWSWIRE) -- Wound Care Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Wound Care Market Information by Product Type, by Wound Type, by Application, End and Users - Forecast till 2030”, the market is projected to reach USD 19,393.44 million by 2030 at 5.80% CAGR during the forecast period 2022-2030.
Market Scope
The key factors that drive the global wound care market are the rising number of patients suffering from acute and chronic wounds. An increasing geriatric population susceptible to chronic wounds is supporting the growth of this market. The rising rate of both chronic and acute diseases is adding to the increased demand for wound treatment. The percentage of hospital and clinical supplies devoted to wound care is relatively high. Over the course of the anticipated time period, the wound care product landscape has grown as new and improved options have become available.
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Report Scope:
| Report Attribute | Details |
| Market Size in 2030 | USD 19393.44 Million |
| CAGR | 5.80% |
| Base Year | 2019 |
| Forecast Period | 2022-2030 |
| Historical Data | 2021 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Type, Application and End-user |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Increasing prevalence of acute and chronic wounds |
| Rising geriatric population |
Wound Care Market Competitive Landscape
Some of the most prestigious organizations in the wound care industry are actively competing in the international market –
- B. Braun Melsungen AG
- 3M
- Baxter
- Ethicon, Inc.
- Smith & Nephew
- ConvaTec
- Kinetic Concepts, Inc
Wound Care Market Dynamics:
Market Drives
Recent years have seen a proliferation of accolades bestowed upon cutting-edge wound care devices in recognition of their effective treatment of wounds. Advantageous reimbursement scenarios, an aging population, and rising rates of both acute and chronic wounds among patients are all factors driving expansion in the global wound care industry. The rise in global healthcare spending is just one example of the macroeconomic factors that have aided the market's growth. Increases in surgical procedures, severe burns, and automobile accident injuries are all contributing to the rising demand for wound closure solutions, which in turn is fueling expansion in the global wound care market.
Increases in the world's geriatric population are also contributing to the growth of the global wound care industry. The demand for wound care supplies is expected to rise as the number of elderly patients who experience complications during surgery increases. Market growth in developed countries has been supported by the ease with which hospitals can be reimbursed for the cost of wound care products, which has led to a surge in demand.
Market Restraints
There are a number of reasons that could limit the growth of the global wound care products market, despite the fact that it appears to have a promising future. Infection is by far the most typical problem that arises with wound treatment. Up to 3 percent of persons who have surgery develop an infection at the incision site, according to research by Johns Hopkins Medicine. Wound and injury patients undergoing surgery require special attention. Osteomyelitis, gangrene, peri-wound dermatitis, and edema are among surgical consequences.
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COVID-19 Analysis
The widespread spread of COVID-19 places a burden on the medical system. Everything from the acquisition of raw materials to the production, packaging, and distribution in the wound care business has been impacted by the COVID-19 epidemic. Due to the large number of producers who keep the necessary inputs and outputs in store, the effect appears to be temporary at best. The impact, however, is anticipated to grow if the epidemic drags on and trade restrictions are maintained for a longer period of time. Since wound care continued to be essential, especially for chronic patients, the industry continued to see new product introductions even while the pandemic raged on.
As the number of confirmed cases rises, so does the strain on medical resources. All healthcare personnel, but especially wound care practitioners, should adjust to new tasks and implement all available techniques to restrict the spread of COVID-19 in order to prevent the healthcare system from failing during the fight against the virus. Using telemedicine for wound care during an epidemic helps keep fragile patients and high-risk healthcare workers at a safe distance from the spread of the disease, as well as preserves personal protective equipment and medical resources.
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Wound Care Market Segmentation
By Product Type
A primary goal of wound care products is to facilitate a speedy and complete recovery from injury. Products designed to treat wounds are being used more frequently to ward off infections at surgical sites. The exudate that results from most surgical incisions is substantial and must be regularly managed. These items help with managing major wounds and include gauze sponges, medical drapes, sutures, dressings and bandages, surgical tapes, and staples.
By Wound Type
The high rates of morbidity and mortality caused by chronic wounds place a tremendous financial and medical burden on society. Healing from a chronic wound can take a long time. They have a major impact on the quality of life of each individual and are a major contributor to rising healthcare expenses. Patients with diabetes are more likely to develop chronic wounds, such as diabetic foot ulcers. The length of time it takes for a chronic wound to heal depends on a number of factors, including its size, location, pressure, blood flow, swelling, glucose levels, and response to treatment and wound dressing.
By Application
Because of rising surgical procedures in developed nations and rising healthcare spending for wound care in developed countries, the surgical wound market is expanding. For instance, surgery is regarded as the cornerstone of secondary care in the United Kingdom's National Health Service (NHS). In 2018, at least 1.16 million cesarean sections were done in the European Union, as reported by Eurostat.
Wound Care Market Regional Insights
The worldwide market of wound care includes the regions of North America, Europe, Asia-Pacific, and the rest of the world. North America has the greatest share of the global market of wound care due to the high concentration of diabetic patients in the region. Since wound healing in diabetics takes longer, there is a greater need for effective wound closure methods. Additionally, hospitals and healthcare organizations invest heavily in cutting-edge wound care products to better serve patients in the region, which is largely responsible for the high cost of healthcare in the area. When it comes to the North American wound care market, the United States accounts for a disproportionate share.
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The wound-care market in Europe is expected to grow rapidly over the forecast period, making it the world's second largest. The increasing prevalence of diabetes, innovative new treatments, and supportive government initiatives are all factors fueling the market's growth in Europe. It's safe to say that the United Kingdom and Germany are the continent's two most significant economic contributors.
Over the forecast period, the Asia-Pacific region is expected to grow at a rate of over 6%, making it a potential market. The wound care market in Asia Pacific is seeing rapid growth due to several factors, including the region's aging population, the prevalence of chronic wounds, and the existence of other serious diseases.
Discover more research Reports on Healthcare Industry by Market Research Future:
Wound Closure Devices Market Information by Device (Adhesives, Staples, and Others), Application (Burns and Others), Types of Wound (Acute Wound and Others), End-User (Hospitals, Community Healthcare Services, and Others)- Forecast Till 2030
Wound Debridement Products Market Research Report: By End-Users (Specialty Care, Nursing Units, Ambulatory Centers, Multi-Specialty Clinics and Hospitals) and By Region (Europe, Asia Pacific, Americas and the Middle East and Africa) – Forecast till 2030
Digital Wound Measurement Devices Market Research Report, by Wound Type (Diabetic Ulcers, Incisional, Traumatic, Chronic), Product (Contact Wounds, Non-Contact Wound Measuring Devices), End-User (Hospital and Clinics) – Forecast Till 2030
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