According to Emergen Research, the global wound care market size was USD 19.72 Billion in 2019 and is expected to reach USD 28.15 Billion in 2027 and register a revenue CAGR of 4.5% during the forecast period, 2020-2027.
Emergen Research has published its latest report titled “Wound Care Market By Product, By Wound Type (Burns, Diabetic Foot Ulcers, Venous Leg Ulcers, Pressure Ulcers, Surgical & Traumatic Wounds, Other Wounds), By End User (Hospitals & Clinics, Home Care Settings, Long-term Care Facilities), and By Region, Forecasts to 2027”
According to Emergen Research, the global wound care market size was USD 19.72 Billion in 2019 and is expected to reach USD 28.15 Billion in 2027 and register a revenue CAGR of 4.5% during the forecast period, 2020-2027.
Market Dynamics:
Wound care is essential to prevent unnecessary complications. Wound dressings, specific enzymes, antiseptics and collagen- sulfa antibiotics are used to speed up healing process. Without proper care, wounds can develop serious infections such as sepsis, lockjaw or cellulitis. Therefore, it is important to act quickly whether a person has a minor or a more serious open wound. Although some open wounds can be treated at home, but this is not always possible, in the case of deep cut or heavy bleeding. This increases the need for effective wound care management to get the best therapy possible and reduces the risk of infection and is expected to be a key factor contributing to market revenue growth.
In addition, technological advancements in wound care equipment, increasing number of surgical procedures, rising incidences of trauma & burns injuries, and increasing funding for wound care research activities globally are other factors expected to positively impact wound care market revenue growth throughout the forecast period. Advanced wound coverings are resistant to germs like bacteria and help wounds heal faster. This type of wound care is becoming more common, especially for the treatment of chronic wounds. Due to their efficiency in treating the seriousness of wounds by enabling faster healing, the demand for advanced wound care services & products is increasing significantly in healthcare, and are also displacing other traditional wound care products. However, high cost of advance wound care products, lack of medical reimbursement policies, and growing popularity of biological products are factors expected to restrain wound care market revenue growth over the forecast period.
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COVID-19 Impact Analysis
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
Surgical & Traumatic Wounds Segment Revenue to Expand at a Rapid CAGR:
Surgical & traumatic wounds segment is expected to register a rapid revenue CAGR over the forecast period owing to increasing number of surgeries due to rising cases of trauma, and accidents and rising incidence of diabetic foot ulcers and post-operative surgical wounds. A traumatic wound is an unintentional injury that can range from small to serious, such as a skinned knee or a gunshot wound.
Hospitals & Clinics to Register Significant Revenue Growth:
Hospitals & clinics segment is expected to register significant revenue growth over the forecast period attributed to increasing government and private investments to develop healthcare infrastructure globally, rising hospital admission owing to increase in incidences of chronic diseases, growing demand for healthcare services, availability of health insurance, advancements in medical science, and increase in multispecialty hospitals.
Asia Pacific to Account for Largest Revenue Share:
Asia Pacific is expected to account for largest revenue share in the global market throughout the forecast period due to increasing incidence of accidents, rising healthcare spending, improvement in healthcare infrastructure and development of advanced wound care products. Further, rise in geriatric population and increasing number of patients suffering from chronic diseases, in the emerging economies such as India, Japan and China having huge population base are other major factors expected to boost market growth in the region.
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Major Companies in the Market Include:
- Ethicon Inc.
- Smith & Nephew plc
- Baxter International Inc.
- Convatec Group Plc
- Coloplast A/S
- Medtronic plc
- Paul Hartmann AG
- 3M Company
- Mimedx Group
- Integra LifeSciences Holding Corporation
For the purpose of this report, Emergen Research has segmented the global wound care market on the basis of product, wound type, end-user, and region:
Product Outlook (Revenue, USD Billion; 2017-2027)
- Advanced Wound Care Products
- Advanced Wound Dressings
- Foam Dressings
- Silicone Dressings
- Non Silicone Dressings
- Hydrocolloid Dressings
- Film Dressings
- Alginate Dressings
- Hydrogel Dressings
- Collagen Dressings
- Hydrofiber Dressings
- Wound Contact Layers
- Antimicrobial Dressings
- Superabsorbent Dressings
- Foam Dressings
- Wound Therapy Devices
- Pressure Relief Devices
- Wound Assessment & Monitoring Devices
- Negative Pressure Wound Therapy Systems
- Conventional NPWT Systems
- Disposable NPWT Systems
- Accessories
- Oxygen & Hyperbaric Oxygen Equipment
- Electrical Stimulation Devices
- Other Therapy Devices
- Active Wound Care Products
- Biological Skin Substitutes
- Human Donor Tissue-derived Products
- Acellular Animal-derived Products
- Biosynthetic Products
- Topical Agents
- Biological Skin Substitutes
- Advanced Wound Dressings
- Surgical Wound Care Products
- Sutures
- Staplers
- Tissue Adhesives, Sealants, & Glues
- Fibrin-based Sealants
- Collagen-based Sealants
- Synthetic Adhesives
- Anti-infective Dressings
- Traditional Wound Care Products
- Medical Tapes
- Dressings
- Cleansing Agents
Wound Type Outlook (Revenue, USD Billion; 2017-2027)
- Diabetic Foot Ulcers
- Pressure Ulcers
- Venous Leg Ulcers
- Surgical & Traumatic Wounds
- Burns
- Other Wounds
End-User Outlook (Revenue, USD Billion; 2017-2027)
- Hospitals & Clinics
- Inpatient Settings
- Outpatient Settings
- Long-term Care Facilities
- Home Care Settings
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Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- U.A.E.
- South Africa
- Turkey
- Rest of MEA
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