Wound care Market Synopsis:
With increased research and development activities and rapid incorporation of advanced technology in the healthcare sector, various innovative treatment solutions are being introduced along with improvements in the existing treatment techniques. Market Research Future (MRFR) has published a research report asserting that the global wound care market is witnessing noteworthy expansion at a CAGR of 6.20% during the forecast period of 2017-2027 and reach the valuation of USD 29,955.2 Mn by the end of forecast period from USD 15,465.2 Mn in 2016. Increasing availability of advanced wound care treatments and high prevalence of chronic diseases that require prolonged wound healing time are resulting in the significant growth of the global wound care market. However, lack of awareness and poor healthcare facilities in the underdeveloped countries are restraining the expansion of the global wound care market during the forecast period.
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Wound care Market Segmentation:
The global wound care market has been segmented on the basis of product, type, application and end user. Based on product, the wound care market has been segmented into advanced wound management products, traditional wound care products, wound therapy devices, wound care products and active wound care products. The advanced wound management segment is forecasted to account for the largest share in the global wound care market owing to the increasing demand for innovative wound management products in the global market. Based on type, the wound care market has been segmented into chronic wound and acute wound. Based on application, the wound care market has been segmented into surgical wound, ulcer, burn and trauma wound. The chronic wound segment is forecasted to dominate the global wound care market owing to the rising geriatric population and prevalence of diabetes. Based on end-user, the wound care market has been segmented into hospitals, clinics, home healthcare and trauma centers.
Wound care Market Regional Analysis:
Geographically, the global wound care market has been segmented into five major regions such as North America, Europe, South America, Asia Pacific, and the Middle East and Africa. The North America region captures the major share in the global wound care market owing to the high demand for wound care as a result of increasing prevalence of diabetic patients who require prolonged wound healing time and increased healthcare expenditure by the population in this region. The Europe region commands for the second largest share in the global wound care market owing to the increased research and development investments for the introduction of highly effective wound care medication in the well-developed healthcare sector and innovative initiatives from non-governmental as well as government organizations such as European Wound Management Association in this region. Increasing geriatric population, high prevalence of diabetes and rise in awareness regarding wound care are majorly propelling the growth of the wound care market in the Asia Pacific region.
Industry Updates:
In November 2018, Dermozone, an Indonesia-based wound care product manufacturer, has synthesized +dalethyne after 18 years of untiring research. +delethyne will be utilized as a key ingredient of the new range of Dermozone wound care products which would be launched soon in India.
In November 2018, Ren Ci Hospital and Tetsuyu Healthcare (Singapore) has collaboratively developed a wound management application, CARES4WOUNDS, which is capable of capturing 3D images of wounds, record, measure and monitoring progress of wounds and also providing treatment guidance online.
In October 2018, researchers at Albert Einstein College of Medicine (the U.S.) have incorporated a gene-suppressing drug into an over-the-counter wound care gel, which has led to the reduction of healing time by half and has significantly improved the healing outcomes compared to control treatments.
Key Players:
The leading players profiled by MRFR that are operating in the global wound care market are B.Braun Melsungen AG, 3M, Baxter, Ethican, Inc., Smith & Nephew, ConvaTec, and Kinetic Concepts, Inc.
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