Wound Care Market
Healthcare professionals use specialized wound care devices. It is a clinical technique to facilitate an efficient method of wound healing. Advanced treatment for wound care uses moisture therapy, which offers a moist micro-environment that promotes the process of natural healing. Film and foam dressings, hydrogels, alginates, and hydrocolloids are the materials used in wet wound care. In addition to maintaining a hydrated environment, this therapy also maintains the temperature constant, facilitates air supply, eliminates dead tissue, protects the site from exogenous infection, and relieves the pain associated with changes in dressing. In contrast to conventional wound care products, advanced wound care products have a higher absorption ability, such as gauze, sponge, plaster, and wadding, which is necessary to avoid wound infiltration. They also allow the exchange of oxygen and block the entry of microbes into the wounds at the same time, maintain moisture, and help build new tissue tissues.
Global Wound Care Market is expected to project a notable CAGR in 2030.
Global Wound Care Market to surpass USD XXXX million by 2030 from USD XXXX million in 2018 at a CAGR of XX% throughout the forecast period, i.e. 2019-30. The advanced wound care market is growing due to the increasing geriatric population, burn cases across the globe, volume of surgeries, cases of diabetes and obesity, incidence of chronic wounds, and number of road accidents. Furthermore, technological advancements and raising awareness on the same, leading to the heavy use of advanced wound care products, are also leading to the growth of the market.
Global Wound Care Market: Segments
Advanced Wound Care Segment to grow with the highest CAGR during 2019-30
Global Wound Care Market is segmented by type wound closure products, traditional wound care products, and advanced wound care products. The greater market share in 2018 was accounted advanced wound care products segment and is expected to see the highest growth during the forecast period. This is due to the faster healing of serious wounds and the comfort and flexibility provided by these products, allowing free movement of the body. Furthermore, the advanced segment is further divided into foams, films, hydrogels, hydrocolloids, super absorbents, contact layers for wounds, alginates, collagen, and hydro fiber. The foam segment accounted for the largest share of the whole advanced segment and is projected to expand at the fastest pace on the market.
Surgical Wound segment to grow with the highest CAGR during 2019-30
Global Wound Care Market is segmented by application into ulcers, burns, and surgical and chronic wounds. The surgical and chronic wound is expected to hold the major market share of XX% in 2018 due to the rising volume of surgeries and increasing number of road accidents. In addition, the high prevalence of pressure ulcers and venous leg ulcers in the geriatric population can be due to the increasing incidence of diabetes and diabetic foot ulcers. Adoption of advanced dressings is increased by benefits such as moisture wound healing, non-adherent design, and bacterial barrier. In addition, new product launches and new dressing developments are reinforcing segment growth over the forecast period.
Inpatient facilities segment to grow with the highest CAGR during 2019-30
Global Wound Care Market is segmented by End-User into inpatient and outpatient facilities. The inpatient facilities category accounted for the largest size in in 2018 and are predicted to dominate it during the forecast period as well. This is due to the wide variety of wound care options that these facilities provide, such as conventional and advanced wound care products. In addition, this pattern is projected to continue over the forecast period due to an increase in the number of operations performed and a higher number of patients tend to visit hospitals for various cases such as surgical wounds, burns, and ulcers. However, due to the availability of improved services and therapies for wounded patients, the wound care centre segment is projected to rise at the fastest growth rate.
Global Wound Care Market: Market Dynamics
Increasing prevalence of surgical and chronic wounds
Growing geriatric population, increasing number of diabetes patient globally, rising occurrence of wound ulcer and surgical wounds, growing research and development activities, the introduction of novel treatments for advanced wounds, favorable reimbursement scenario, and technological advancement in advanced wound care products are the key factors enhancing the growth of the Global Wound Care market. Some of the other key factors driving the growth of the advanced wound care industry are the rising adoption of evidence-based treatment for chronic wounds, escalating healthcare expenditure, and awareness programs for advanced wound care treatment and management.
Technological Advancements and Increasing Product Launches
Over the forecast period, the growing expansion strategies by market players are expected to improve the advanced growth of the wound care management market. The advanced demand for wound care is driven primarily by technical advancements, ageing populations, issues associated with inadequate conventional methods of wound healing, government measures, and an urgent need for faster and safer treatment of chronic wounds.
High cost of advanced wound care products
The high cost of chronic wound treatments and advanced wound care products, especially in cost-sensitive markets such as Asia and RoW, may have a negative impact on their adoption. Patients and doctors in these regions are opting for innovative wound care items that are less costly. Although there are many bio-engineered dressings available in these markets, due to their low prices, doctors and patients prefer to opt for conventional and simple wound care products.
Global Wound Care Market: Key Players
Key Product Offerings
Key Performance Indicators
Smith & Nephew PLC
Mölnlycke Health Care AB
ConvaTec Group PLC
Johnson & Johnson
Global Wound Care Market: Regions
Global Wound Care Market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, APAC, and MENA.
Global Wound Care Market in North America held the largest market share of XX.X% in the year 2018 owing to increasing launches of new wound care products in the U.S. and rising number of global players tapping into the region. The wound care management market in the Asia-Pacific, consisting of rapidly developing economies, has remained largely untapped. Asia Pacific is expected to experience rapid growth in the global demand for wound care. During the forecast period, the Asia Pacific market is expected to gain traction due to the rising incidence of chronic wounds.
Global Wound Care market, which is highly competitive, consists of several major players. Companies, such as Convatec, Integra, Smith and Nephew Hartmann and Coloplast, hold a substantial market share in the Global Wound Care market. Other players analyzed in this report are celerity L.P., Inc., 3M Company, Baxter International, Inc., Coloplast A/S, Integra Lifesciences, Johnson & Johnson, Inc., Smith & Nephew Plc., Cardinal Health, ConvaTec Group PLC, and Organogenesis Inc. among others
Recently, various developments have been taking place in the market. For instance, In December 2018, Acelity LP, launched its V.A.C.RX4 Therapy System for multiple traumatic wounds in the U.S.
Global Wound Care Market is further segmented by region into:
North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America
Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe
APAC Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
MENA Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa, and Rest of MENA
Global Wound Care Market report also contains analysis on:
Global Wound Care Market Segments:
By Product Type:
Advanced Wound Care
Traditional Wound Care
By End User:
Wound Care Market Dynamics
Wound Care Market Size
Supply & Demand
Competition & Companies Involved in the Market
Value Chain of the Market
Market Drivers and Restraints