Wound Care Market Size Will Reach USD 32.02 Billion by 2028: Rising Demand for Advanced Wound Care Systems is Drive Industry Growth

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Wound Care Market Size Will Reach USD 32.02 Billion by 2028: Rising Demand for Advanced Wound Care Systems is Drive Industry Growth

September 22
18:18 2022
Wound Care Market Size Will Reach USD 32.02 Billion by 2028: Rising Demand for Advanced Wound Care Systems is Drive Industry Growth
wound care market
The global wound care market size is expected to reach USD 32.02 Billion in 2028 and register a CAGR of 7.6% over the forecast period

The global wound care market size is expected to reach USD 32.02 Billion in 2028 and register a CAGR of 7.6% over the forecast period, according to latest report by Reports and Data. Steady revenue growth of the wound care market can be attributed to growing use of different wound care products such as advanced wound dressings, surgical wound care products traditional wound care products, in healing different type of chronic wounds and acute wounds.

Fast-growing geriatric population and increasing incidences of surgical wounds and burn wounds are major factors responsible for the wound care market revenue growth. Increasing cases of diabetic foot ulcers, and increasing expenditure is expected to escalate the market revenue growth.

Rising demand for advanced wound care systems for fast healing of wounds and growing awareness among people regarding chronic wounds are major factors driving market growth – Our Expert Opinion

 

Increasing incidences of diabetic foot ulcers, pressure ulcers and venous leg ulcers has led to serious chronic wounds. According to data published in the U.S. National Library of Medicine, in 2018, it was estimated that 5.7 million patients were suffering from chronic wounds. Prevalence of chronic wounds among youth and adults has become a matter of concern which will drive the market revenue growth.

However, difficulties in advancements of the wound care market include huge purchasing cost of advanced wound care systems. Lack of awareness, poor reimbursement policies in underdeveloped countries may hamper the market revenue growth in upcoming years.

Some Key Highlights from the Report:

  • By product, surgical wound care products segment revenue is expected grow at significant rate over the forecast period. Increase in number of patients undergoing surgery after suffering from any type of chronic disorders, fatal falls, and road accidents has increased the demand of surgical wound care products. Adoption of modern surgical wound care products for treating and healing of post-surgery wound aids in revenue growth of this segment.
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  • By end-use, home care settings segment revenue is expected grow at significant rate over the forecast period, owing to increasing inclination among people towards home care settings. Rising prevalence of chronic wounds among elderly people is also contributing to revenue growth of this segment.
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  • Wound care market revenue in Asia-Pacific is expected to witness the fastest CAGR over the forecast period, due to presence of large number of major market players and increasing awareness among people regarding various products for wound care. The APAC has a large number of geriatric populations which is more prone to diabetic-related disorders, hence increasing the demand for wound care products, which is expected to drive the market revenue growth.
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  • On 14 January 2020, ConvaTec Inc. launched the ConvaMax, a superabsorber wound dressing in the market, to expand its product portfolio for wound management
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  • On 11 October 2019, 3M Company completed the acquisition of Acelity Inc. and its KCI subsidiaries for a total value of USD 6.7 Billion. The acquisition would help the company expand its medical solutions business and support its strategy to offer comprehensive advanced and surgical wound care products.

 

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Competitive Landscape:

The report also focuses on details of each market player including its global position, financial standing, revenue generation, company overview, product & service portfolio. The Wound Care market is extremely competitive and consists of several key players at regional and global level. Key players are focused on adopting various strategies such as new product launches, mergers and acquisitions, investments in R&D, partnerships, joint ventures and collaborations to strengthen their market position and enhance product portfolio.

Leading companies operating in the market are:

Smith & Nephew PLC, 3M, ConvaTech Inc., Cardinal Health, Coloplast A/S, Molnlycke Health Care AB, Medtronic, Paul Hartmann AG, BSN Medical, Integra LifeSciences Corporation, and Johnson & Johnson Services Inc.

The report also offers detailed insights about market segmentation based on type, application and regional bifurcation:

Wound Care Market Segmentation:

 

End-use Outlook (Revenue, USD Billion; 2018-2028)

  • Hospitals
  • Clinics
  • Long-term Care Settings
  • Home Care Settings
  • Others

 

Type Outlook (Revenue, USD Billion; 2018-2028)

  • Surgical & Traumatic Wounds
  • Diabetic Foot Ulcers
  • Pressure Ulcers
  • Venous Leg Ulcers
  • Others

 

Geographic Segment Covered in the Report:

The Wound Care report provides information about the market area, which is further subdivided into sub-regions and countries/regions. In addition to the market share in each country and sub-region, this chapter of this report also contains information on profit opportunities. This chapter of the report mentions the market share and growth rate of each region, country, and sub-region during the estimated period.

• North America (the USA and Canada)

• Europe (UK, Germany, France, and the rest of Europe)

• Asia Pacific (China, Japan, India, and the rest of the Asia Pacific region)

• Latin America (Brazil, Mexico, and the rest of Latin America)

• the Middle East and Africa (GCC and the rest of the Middle East and Africa)

 

Key market aspects are illuminated in the report:

  • Executive Summary: It covers a summary of the most vital studies, the Global Wound Care market increasing rate, modest circumstances, market trends, drivers and problems as well as macroscopic pointers.
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  • Study Analysis: Covers major companies, vital market segments, the scope of the products offered in the Global Wound Care market, the years measured, and the study points.
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  • Company Profile: Each Firm well-defined in this segment is screened based on a products, value, SWOT analysis, their ability and other significant features.
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  • Manufacture by Region: This Global Wound Care report offers data on imports and exports, sales, production and key companies in all studied regional markets.

 

Thank you for reading the report. Kindly note that we also offer customized reports according to the client’s requirements. Contact us to know more about the customization feature and our team will provide you with the best-customized report. 

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