U.S. Advanced Wound Care Market to Grow at $3.4 Billion by 2026 | Key Industry Players are Smith & Nephew, Molnlycke Health Care AB, and Baxter

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U.S. Advanced Wound Care Market to Grow at $3.4 Billion by 2026 | Key Industry Players are Smith & Nephew, Molnlycke Health Care AB, and Baxter

September 17
08:52 2019
U.S. Advanced Wound Care Market to Grow at $3.4 Billion by 2026 | Key Industry Players are Smith & Nephew, Molnlycke Health Care AB, and Baxter

Grand View Research, Inc. – Market Research And Consulting.
According to report published by Grand View Research, The U.S. advanced wound care market size was valued at USD 2.46 billion in 2018 and is expected to grow at a CAGR of 4.2% over the forecast period

The U.S. advanced wound care market is expected to reach USD 3.42 billion by 2026, according to a new report by Grand View Research, Inc., exhibiting a CAGR of 4.2% over the forecast period. Rising number of surgeries and increasing incidence of chronic wounds in the U.S. are the key factors driving the market.

In the recent past, there has been a rise in the number of surgical procedures in the U.S. Rising prevalence of chronic diseases, such as cancer, diabetes, and autoimmune diseases, is one of the key factors leading to an increase in the number of surgeries being performed in the country. Incidence of infectious and non-communicable diseases has increased over the past few decades. This can be attributed to factors such as urbanization, borderline poverty in most developing states, antimicrobial resistance, and rise in prevalence of food-borne diseases. Unhealthy lifestyle, limited physical activity, alcohol abuse, and smoking are some of the major factors contributing to rising prevalence of the abovementioned diseases. According to CDC, in 2017, more than 100.0 million people were living with diabetes in the U.S. 

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Type II diabetes is the most common type of diabetes, and 90% of the affected population is suffering from type II diabetes. Diabetic foot ulcer, a common complication of diabetes, typically requires surgical intervention to prevent foot amputation. Thus, increasing number of surgeries is expected to drive growth of the advanced wound care market in the U.S. Cancer is a major healthcare burden in the U.S., as it is the second leading cause of death. According to CDC, about 1,658,716 new cases of cancer were reported in the U.S. in 2016. Therefore, these factors are likely to expedite market growth.

U.S. advanced wound care market size, by product, 2015 - 2026 (USD Billion)

Further key findings from the study suggest: 

  • In terms of revenue, foam dressing segment held the largest share in 2018 owing to the rising incidence of chronic wounds
  • In the application segment, chronic wound segment is expected to witness the fastest growth rate over the forecast period owing to rising incidence of diabetes in the U.S.
  • Home healthcare segment is expected to witness fastest growth over the forecast period due to the increasing number of surgeries in the U.S.
  • Prominent key players present in the U.S. advanced wound care market are Smith & Nephew, Molnlycke Health Care AB, and Baxter.

U.S. advanced wound care market share, by end use, 2018 (%)

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Grand View Research has segmented the U.S. advanced wound care market on the basis of product, application, and end use:

U.S. Advanced Wound Care Product Outlook (Revenue, USD Million, 2015 – 2026)

  • Foam
  • Hydrocolloid
  • Film
  • Alginate
  • Hydrogel
  • Collagen
  • Others

U.S. Advanced Wound Care End-use Outlook (Revenue, USD Million, 2015 – 2026)

  • Hospitals
  • Specialty Clinics
  • Home Healthcare
  • Others

U.S. Advanced Wound Care Application Outlook (Revenue, USD Million, 2015 – 2026)

  • Chronic Wounds
    • Diabetic Foot Ulcers
    • Pressure Ulcers
    • Venous Leg Ulcers
    • Others
  • Acute Wounds
    • Surgical & Traumatic Wound
    • Burns

Browse Related Report:

Medical Automation Market: https://www.grandviewresearch.com/industry-analysis/medical-automation-market

Ophthalmic Devices Market: https://www.grandviewresearch.com/industry-analysis/ophthalmic-devices-market

About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

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