Dublin, July 17, 2023 (GLOBE NEWSWIRE) -- The "Global Wound Care Market (by Product Type, Application, Wound Type, Region and Company), Size, Share, Acquisitions, Recent Developments - Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
The global wound care market is predicted to surpass US$ 30.1 Billion by 2030
The market for wound care products is increasing owing to the growing number of surgical cases, rising geriatric population, and surge in the prevalence of chronic diseases across the globe.
The increasing incidence of diabetes due to the widespread adoption of a sedentary lifestyle is one of the leading factors contributing significantly to the market growth. According to California Podiatric Medical Association (CPMA), 15% of people diagnosed with diabetes tend to develop a foot ulcer. Wound care products help treat diabetic foot ulcers, which are prevalent in diabetic patients.
Over the years, wound care product categories have continued to expand with the continuous arrival of new and advanced products. The developments in wound dressings have led to a shift from simple dressings to advanced products and devices that incorporate pharmaceutically active ingredients.
Furthermore, launch of novel therapies such as electromagnetic therapy, electrical stimulation, nanotechnology, and the use of silver and other combination bandages are enhancing the entire market. However, the high cost of advanced wound care products restricts the market growth.
Market Dynamics
Driving Factors
- High Patient Pool and Increasing Prevalence of Acute and Chronic Wounds to Drive Global Wound Care Market
- Technological Advancement
- Rapid Growth in the Geriatric and Obese Population
- Increasing Demand for Combination Dressings
- Growing Prevalence of Diabetes
Challenges
- High Cost of Wound Care Products Impeding Market Growth
- Delayed Diagnosis of Chronic Wounds in Emerging Markets Restricts Market Growth
Product Type Key Takeaways
- In terms of Product Type, Traditional adhesive dressings lead the global wound care market, followed by the traditional gauze dressings.
- Antimicrobial dressings is the third leading segment of the wound care market.
- Non-adherent dressings and Foam dressings product segments are competing closely to grab maximum share of the pie.
- Hydrocolloids market share is likely to be more or less stable over the forecast period.
- Hydrogel dressings captured least share of the global wound care market.
Application Key Takeaways
- Moist dressings and wound closure applications together accounted for over 55% share of the global wound care market in 2022.
- Negative Pressure Wound Therapy is the third leading application of the wound care market, followed by the Pressure Relief segment. The Negative Pressure Wound Therapy segment is expected to record a significant growth due to the introduction of technologically advanced NWT devices by market players.
- The bioengineered skin and skin substitutes captured least share of the global wound care market.
Wound Type Key Takeaways
- Surgical & traumatic wounds accounted for largest share of the global wound care market, followed by Diabetic foot ulcers.
- In the United States, approximately 486,000 burn injuries occur each year that require medical treatment.
- The global pressure ulcers market is likely to grow at a growth rate of around 6% over the forecast period 2023 - 2030. Increase in geriatric population is a key factor for the rising prevalence of pressure ulcers.
Region Takeaways
- United States captured highest share of the global wound care market, followed by the Europe.
- Asia Pacific is the most prominent region in the global wound care market. The economies like Australia, India and China within the region are increasing healthcare expenditure and awareness regarding the wound care management.
- Middle East & Africa has the least share in the global wound care market due to the presence of poor economies especially in the African region.
Company Analysis
- 3M Health Care leads the global wound care market, followed by Smith & Nephew. In October 2019, 3M completed the acquisition of Acelity Inc. and its KCI subsidiaries.
- Johnson & Johnson wound care sales is continuously declining year on year due to competitive pressures.
- Convatec Group continues to see strong demand for AQUACEL product lines, with foam, silver and surgical cover dressing the main drivers of growth.
Company Analysis
- Acelity L.P. Inc. (Acquired by 3M)
- Smith & Nephew
- Convatec Group
- Molnlycke Health Care AB
- Coloplast Corp.
- Derma Sciences, Inc. (Acquired by Integra LifeSciences)
- Scapa Healthcare (Acquired by Schweitzer-Mauduit International, Inc.)
- 3M Healthcare
- Hartmann
- Johnson & Johnson
Scope of the Report
- Global Wound Care Market & Forecast (2015 - 2030)
- Global Wound Care Market Share & Forecast (2015 - 2030)
- By Product - Global Wound Care Market & Forecast (2015 - 2030)
- By Applications - Global Wound Care Market & Forecast (2015 - 2030)
- By Wound Type - Global Wound Care Market & Forecast (2015 - 2030)
- By Region - Global Wound Care Market & Forecast (2015 - 2030)
- Wound Care Market - Company Analysis, Wound Care Revenue, Recent Developments
- Global Wound Care Market - Major Deals
- Global Wound Care Market - Recent Developments
- Global Wound Care Market - Driving Factors & Challenges
By Product Type
- Traditional Gauze Dressings
- Non-Adherent Dressings
- Film Dressings
- Foam Dressings
- Hydrogel Dressings
- Hydrocolloid
- Alginate Dressings
- Antimicrobial Dressings
- Wound Care Growth Factors
- Others
By Application
- Wound Closure
- Moist Dressings
- Negative Pressure Wound Therapy
- Bioengineered Skin and Skin Substitutes
- Pressure Relief
- Miscellaneous Wound Management
By Wound Type
- Surgical & Traumatic wounds
- Burns
- Diabetic foot ulcers
- Pressure ulcers
- Venous leg ulcers
- Others
For more information about this report visit https://www.researchandmarkets.com/r/gm7w0e
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