The Worldwide Wound Care Market is expected to grow at a CAGR of 6.20% during the forecast period. According to the American Burn Association, in 2014, approximately 486,000 burn injuries were reported which boosted the market growth during the forecasted period. Moreover, increasing prevalence of diabetes and chronic diseases alongwith growing number of surgeries and rising per capita income and development in the medical technology have boosted the market growth during the forecated period. However, the high cost of advanced wound care products is expected to restrain the market growth. Wound care & closure products are considered as a standard devices used for the treatment of chronic wounds. Introduction of the advanced wound care & closure products has substituted traditional wound care & closure products are owing to their effectiveness and efficacy in the treatment of the wounds.
The Global Wound Care Market is segmented on the basis of products, type, application, and end users. On the basis of products, the market is segmented into advanced wound management products, wound therapy devices, traditional wound care products, wound care products, active wound care products, and others. The advanced wound management products segment is sub segmented into advanced wound dressings, foam dressings, hydrocell foam dressings, alginate dressings, hydrogel dressings, collagen dressings, others.
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The wound therapy devices segment is sub segmented into oxygen and hyperbaric oxygen equipment, negative pressure wound therapy device (NPWT), cutting-edge wound therapy device, electrical stimulation devices, and others. The wound care products segment is sub segmented into sutures, surgical staples, haemostats, wound care strips, adhesives and tissue sealants, and others. The active wound care products segment is sub segmented into topical agents, artificial skin and skin substitutes and others.
Wound Care Market Regional Analysis:
The Americas dominates the global wound care market owing to a well-developed healthcare sector and high per capita healthcare expenditures. Moreover, the presence of global players like 3M and Baxter in the developed economies like U.S and Canada within the region fuels the market growth.
Europe is the second largest market for wound care, which is followed by Asia Pacific. Availability of funds for research, high healthcare expenditures, huge patient population and government support for research & development will drive the market in the Europe. In the U.K,the cost to the National Health Service for caring for patients with chronic wounds was estimated to be around USD 3.4-4.6 billion per year.
Asia Pacific is the fastest growing region for the wound care market due to the presence of developing economies like India and China. This along with favorable government policies and rising healthcare expenditure boosted the market growth in the presence of huge opportunity for the untapped market within the region.
The Middle East & Africa has the least share in the global wound care market due to presence of poor economies especially in the African region. Majority of the market of Middle & Africa region is held by the Middle East due to a well-developed healthcare sector.
Wound Care Market Key Players:
Braun Melsungen AG (Europe), 3M (U.S.), Baxter (U.S.), Ethicon, Inc. (U.S.), Smith & Nephew (U.S.), ConvaTec (Europe), Kinetic Concept, Inc. (U.S.) and others.
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Major TOC of Wound Care Market Research Report – Global Forecast till 2023:
1 Report Prologue
2.1 Scope of Study 16
2.2 Research Objective 16
2.3 Assumptions & Limitations 16
2.3.1 Assumptions 16
2.3.2 Limitations 16
2.4 Market Structure 17
3 Research Methodology
3.1 Primary Research 19
3.2 Secondary Research 19
3.3 Market Size Estimation 19
3.3.1 Market Share analysis 20
3.4 Market Pricing Approach 21
List of Tables
TABLE 1 PRIMARY INTERVIEWS
TABLE 2 GLOBAL WOUND CARE MARKET, BY PRODUCT, 2014-2027 (USD MILLION)
TABLE 3 GLOBAL ADVANCED WOUND MANAGEMENT PRODUCTS MARKET, BY REGION, 2014-2027 (USD MILLION)
TABLE 4 GLOBAL WOUND THERAPY DEVICES MARKET, BY REGION, 2014-2027 (USD MILLION)
TABLE 5 GLOBAL TRADITIONAL WOUND CARE PRODUCTS MARKET, BY REGION, 2014-2027 (USD MILLION)
TABLE 6 GLOBAL WOUND CARE PRODUCTS MARKET, BY REGION, 2014-2027 (USD MILLION)
TABLE 7 GLOBAL ACTIVE WOUND CARE PRODUCTS MARKET, BY REGION, 2014-2027 (USD MILLION)
List of Figures
FIGURE 1 GLOBAL WOUND CARE MARKET, BY PRODUCT, 2016 (%)
FIGURE 2 GLOBAL WOUND CARE MARKET, BY TYPE, 2016 (%)
FIGURE 3 GLOBAL WOUND CARE MARKET, BY APPLICATION, 2016 (%)
FIGURE 4 GLOBAL WOUND CARE MARKET, BY END USER, 2016 (%)
FIGURE 5 GLOBAL WOUND CARE MARKET, BY REGION 2016 (%)
FIGURE 6 GLOBAL WOUND CARE MARKET: MARKET STRUCTURE
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