According to Coherent Market Insights, the Global Wound Care Market was valued at US$ 17,790 million in 2018, and is projected to exhibit a CAGR of 4.6% during the forecast period (2019 – 2026).
Key Trends and Analysis of the Global Bioelectric Medicine Market:
The global wound care market size is expected to witness significant growth during the forecast period, owing to increase in regulatory approvals for wound care products. For instance, in April 2019, Baxter International Inc. received U.S. Food and Drug Administration (FDA) approval for faster preparation of its leading hemostatic product ‘Floseal Hemostatic Matrix’ for wound care management.
Moreover, manufacturers are focusing on launching advanced products in global wound care market. For instance, in September 2016, Coloplast A/S introduced its new series of silicon wound dressing for wound care management. In 2016, Coloplast expanded its Biatain Silicone portfolio with introduction of eight new wound dressings products referred to as sizes & shapes.
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Technological advancements in wound care product is expected to drive the global wound care market growth during the forecast period. For instance In November 2018, Dalethyne, a new medicine with few component (methyl iodine, methyl anisidine, methyl peroxide, and methyl aldehyde), was introduced by Indonesia-based Company, Dermozone. These new components have the ability to kill growing bacteria in the wound and develop new skin and blood vessels. The treatment is used for chronic and acute wounds such as diabetic foot ulcers, decubitus ulcer, deep cavity wounds, burns, and post-operative/ traumatic wounds.
Furthermore, in April 2019, researchers at Binghamton University and State University of New York developed a method to treat bacterial infections, which could result in better wound care. This novel therapeutic strategy works using new dispersion method to effectively kill biofilm bacteria and could improve wound care. This combination treatment was significantly more effective than treatment with antibiotics alone or even with antimicrobial cream and silver sulfadiazine.
Key Market Takeaways:
- The global wound care market is projected to witness a CAGR of 4.6% during the forecast period (2019 – 2026), owing to increasing acquisition of wound care management companies. For instance, in 2019, 3M announced acquisition of Acelity Inc., a company focused on advanced wound care and specialty surgical applications. This acquisition is expected to expand 3M’s medical solutions business and support growth in advanced and surgical wound care solutions.
- Among regions, North America is expected to hold a dominant position in the global wound care market during the forecast period, owing to increasing incidence of chronic wounds in the U.S. For instance, according to the S. National Institutes of Health estimates, in 2017, around 6.5 million people were affected with chronic wounds in the U.S.
Major players operating in the global wound care market include Acelity 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.
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Detailed Segmentation:
- Global Wound Care Market, By Product Type:
- Advanced Wound Management Products
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- Wound Dressings
- Foam Dressings
- Hydrocolloid Dressings
- Film Dressings
- Anti-Infective Dressings
- Alginate Dressings
- Collagen Dressings
- Wound Therapy Devices
- Pressure Relief Devices
- Negative Pressure Wound Therapy Systems
- Hyperbaric Oxygen Equipment
- Electrical Stimulation Devices
- Active Wound Care
- Wound Dressings
-
- Surgical Wound Care Products
- Sutures and Staples
- Tissue Adhesives, Sealants, and Glues
- Traditional Wound Care Products
- Medical Tapes
- Dressings
- Cleansing Agents
- Advanced Wound Management Products
- Global Wound Care Market, By Wound Type:
- Chronic Wounds
- Pressure Ulcers
- Diabetic Foot Ulcers
- Venous Ulcers
- Other Chronic Wounds
- Acute Wounds
- Surgical and Traumatic Wounds
- Burns
- Chronic Wounds
- Global Wound Care Market, By End User:
- Hospitals
- Clinics
- Ambulatory Surgical Centers
- Home Care Settings
- Others
- Global Wound Care Market, By Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East
- Africa
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- Company Profiles
- Acelity L.P., Inc.*
- Company Overview
- Product Portfolio
- Financial Performance
- Recent Highlights
- Strategies
- 3M Company
- Baxter International, Inc.
- Coloplast A/S
- Integra Lifesciences
- Johnson & Johnson, Inc.
- Smith & Nephew Plc.
- Cardinal Health
- ConvaTec Group PLC
- Organogenesis Inc.
- Company Profiles
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