Wound Care Market Overview
The global wound care market is expected to reach a valuation of close to USD 30 billion by 2027, according to the latest research report from Market Research Future (MRFR). The market is thus likely to almost double in valuation over the forecast period from 2017 to 2027, according to MRFR. The new MRFR report profiles all the relevant factors affecting the global wound care market and provides readers with a comprehensive overview of the leading drivers and restraints affecting the global wound care market. The leading players operating in the global wound care market are also profiled in the report in order to provide readers with a clear overview of the market’s competitive landscape.
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The global wound care market is characterized by a growing trend of product advancement and development. New technologies and solutions for wound care are being developed on a regular basis by major players operating in the market, giving the market a solid push. New developments in fabric products and technologies have led to promising developments in the wound care market, as the wound care market has absorbed many promising innovations in the fabrics sector. The growing textiles industry and the growing rate of product innovation in the same is likely to be a major driver for the global wound care market over the forecast period.
The increasing prevalence of chronic diseases such as diabetes is likely to be a major driver for the global wound care market. Chronic diseases such as diabetes often lead to wounds on various parts of the body, as the diseases affect the circulatory system and cause blood loss in a variety of sites. The growing awareness about such conditions and the growing prevalence of these diseases is likely to be a major driver for the global wound care market, as this is likely to drive the demand for effective wound care solutions over the forecast period.
Leading players in the global wound care market include Kinetic Concepts Inc., CanvaTec, Smith & Nephew, Ethican Inc., Baxter, 3M, and B. Braun Melsungen AG. Leading players in the global wound care market are likely to focus on product development in the coming years, as there is significant scope for product innovations in the wound care market.
In December 2019, Orleans Community Health opened a new wound care center in Medina Memorial Hospital, Medina, New York. The center provides advanced wound care solutions for chronic, non-healing wounds caused by diseases such as diabetes.
In November 2019, Avery Dennison Medical introduced new wound care solutions.
Segments Covered in the Report:
The global wound care market is segmented on the basis of product, type, application, end use, and region.
By product, the global wound care market is segmented into advanced wound management products, wound therapy devices, traditional wound care products, wound care products, and active wound care products.
By type, the global wound care market is segmented into chronic wounds and acute wounds.
By application, the global wound care market is segmented into surgical wounds, ulcers, burns, and trauma wounds.
By end use, the global wound care market is segmented into hospitals, clinics, home healthcare, and trauma centers.
The Americas holds the dominant share in the global wound care market, followed by Europe. The Americas region is primarily driven by advancements in North America, where many leading players in the wound care market have set up establishments. The North America market for wound care is highly developed and houses innovative cutting-edge products, offering state of the art healthcare services to citizens in the region. The high healthcare expenditure in North America is also a major driver for the wound care market, as is the growing prevalence of diabetes in the region, which causes chronic, non-healing wounds. The growing geriatric population in North America is also likely to be a major driver for the wound care market in the region over the forecast period.
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