Wound Care Market Trends, Share and Size Analysis By Type (Chronic, Acute), Application (Ulcers, Burn, Trauma Wounds), Product (Wound Therapy Devices, Traditional and Active Wound Care Products), End Users (Hospitals, Clinics, Trauma Center), Global forecast till 2027
Wound Care Market Overview
As per Market Research Future (MRFR) analysis, the global wound care market held a valuation of USD 15,456.2 million in 2016. It is expected to surpass an estimate of USD 29,900 million from 2016 to 2027 (forecast value). The report provides in-depth primary research and a comprehensive review of qualitative and quantitative aspects by various industry analysts and key opinion leaders in order to provide useful insight into market demand and industry performance.
The increase in cases of chronic wound conditions, such as venous ulcers, arterial ulcers, and diabetic ulcers, requires effective solutions for restoring capabilities of the body. The need to improve the quality of life from unhealed wounds to curb risk of infections and complications can promote the wound care market expansion through the study period. The increase in demand for easy and septic-free surgical recovery and disease management can also promote the wound care market.
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A type of injury caused by a blow, cut, forceful impact, which breaks the skin and tissues, is referred to as a wound. In medical terms, wounds are distinguished by their types, such as abrasion, contusion, and laceration. Several methods are used to cure wounds in order to avoid future hazards. Wound infection is a huge safety concern for patients as well as healthcare professionals worldwide, making wound care vital to reduce infections and promote the well-being of patients. Over the years, the ranges of wound care products have continued to grow with the constant introduction of innovative and advanced products.
The increasing number of geriatric population and surgeries is driving the global market for wound care. Rising awareness among people about first aid medicines has also strengthened the demand for the global market for wound care. The high number of road accidents and advanced medical facilities are critical factors responsible for the growth of the global market for wound care. The government’s focus on health benefit plans and reimbursement policies has increased the rate of hospitalization for wound injuries and medicines that indirectly affect the growth of the global market for wound care.
Wound Care Market Segmentation
The wound care market is segmented on the basis of product, type, application, and end-user.
The wound care market, by product, has been segmented into advanced wound management products, wound therapy devices, traditional wound care products, wound care products, and active wound care products. Among these, the advanced wound management products segment will be noting a high surge in terms of global demand as it ensures faster healing, mitigating the possibility of infection.
The types of wound care market include chronic wound and acute wound. The chronic wound segment is set to acquire the largest share of the total market, accounting for 60.3% market share, in 2016. The segment will be most likely retaining the substantial share it has amassed, over the next few years.
Application-dependent segments in the global wound care market are surgical wound, ulcer, burn, trauma wounds, and others. Here, the surgical wound segment is forecasted to note a massive surge in demand, reaching the value of over USD 10 Mn by the end of 2027.
The end-users in the global wound care market are hospitals, clinics, home health care, trauma centers, and others, wherein the hospitals segment amassed the most substantial share of the market in 2016. The segment is postulated to retain its lead, clocking in a CAGR of over 6% during the forecast period.
Wound Care Market Regional Outlook
Region-wise, the global wound care market has been segmented into North America, South America, Europe, Asia Pacific, and the Middle East & Africa.
North America dominates the global wound care market due to an increasing number of geriatric patients and a rising number of diabetic patients.
Europe is second in the global wound care market, as the region is developing a beneficial care facility for the population.
The Asia Pacific wound care market is projected to grow significantly due to an increasing population.
The Middle East & Africa has the lowest share in the global wound care market
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Wound Care Market Key Players
- 3M, Kinetic Concepts Inc
- Baxter
- Ethicon
- ConvaTec
- Braun Melsungen AG Inc
- Smith & Nephew
are some reputed companies in the wound care market that are listed by MRFR.
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