The report provides an in-depth analysis of the competitive landscape, along with company profiling of key players involved in the global Wound Care Market. The authors of the report make sure to equip readers with a thorough evaluation of the vendor landscape and inform them of the current and future changes that can be expected. The competitive analysis offered in the report inspects the market share, gross margin, product portfolio, consumption, market status, and technologies of leading players controlling a significant portion of the global Wound Care Market.
The growth of the wound care market is driven by the increasing incidences of diabetes and its prevalence and increasing wound ulcer prevalence.
The global Wound Care Market is forecasted to be worth USD 28.15 Billion by 2027, according to a current analysis by Emergen Research. The wound care market is primarily driven by increasing diabetes incidence and prevalence, increasing geriatric population, increasing wound ulcer prevalence, increased funding for wound care research, and increasing awareness programs on wound management.
The rising geriatric population base at high risk of chronic wounds will support the demand for the wound care market. An increasing pool of patients suffering from chronic injuries results in significant cost burdens on healthcare systems across the globe.
Leading Players Analyzed in the Report are:
Ethicon Inc., Smith & Nephew plc, Baxter International Inc., Convatec Group Plc, Coloplast A/S, Medtronic plc, Paul Hartmann AG, 3M Company, Mimedx Group, and Integra LifeSciences Holding Corporation, among others.
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It is predicted that the existing and rising cost burden of these chronic wounds will drive investment in wound care technology that will have a significant positive impact on the growth of the wound care industry. However, prohibitive costs of the market products, which often undermine the affordability of treatment, will, in the foreseeable future, hinder industry growth. Impaired or delayed healing of the wound in chronic diseases, as well as after surgical procedures, poses a serious threat to patients and puts them at risk of infection, amputation, and death.
Some Key Highlights from the Report
- The large proportion of surgical wounds segment can be attributed to the increasing incidence of diabetic foot ulcers & pressure ulcers, and post-operative surgical wounds. Surgical wounds extend the stay of the hospital, cause an enormous economic burden, and significantly impair the quality of life. The increasing number of surgeries due to trauma, accidents, and increasing chronic disease prevalence will boost the market over the forecast period.
- A diabetic foot ulcer is an open wound which occurs in most of the diabetic patient and is generally located on the bottom of the foot. Several patients who suffer from the ulcer require an amputation. The development of foot ulcers is preventable.
- Increasing hospital admissions due to chronic and increased incidence of hospital-acquired pressure ulcers are key market drivers for this end-user segment’s growth. Furthermore, extended hospital stays of diabetes patients in this end-user segment further increases the demand for advanced wound care products.
- The market for the Asia Pacific is presumed to expand at a high CAGR throughout the forecast timeframe. The regional growth can be accredited to India, Japan, and China owing to factors such as the growing advancements by prominent players in these countries and increased support from the government.
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For the purpose of this report, Emergen Research has segmented into 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
- Hydrocolloid Dressings
- Film Dressings
- Alginate Dressings
- Hydrogel Dressings
- Collagen Dressings
- Hydrofiber Dressings
- Wound Contact Layers
- Antimicrobial Dressings
- Superabsorbent Dressings
- Wound Therapy Devices
- Pressure Relief Devices
- Wound Assessment & Monitoring Devices
- Negative Pressure Wound Therapy Systems
- Oxygen & Hyperbaric Oxygen Equipment
- Electrical Stimulation Devices
- Other Therapy Devices
- Active Wound Care Products
- Biological Skin Substitutes
- Topical Agents
- Advanced Wound Dressings
- Surgical Wound Care Products
- Tissue Adhesives, Sealants, & Glues
- Anti-infective Dressings
- Traditional Wound Care Products
- Medical Tapes
- Cleansing Agents
Wound Type Outlook (Revenue, USD Billion; 2017-2027)
- Diabetic Foot Ulcers
- Pressure Ulcers
- Venous Leg Ulcers
- Surgical & Traumatic Wounds
- 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
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Saudi Arabia
- Rest of MEA
Key points covered in the report:
- A detailed outlook of the market with essential data beneficial for business
- Market segmentation based on product types, applications, and end-users. For further understanding, the key segments are further divided into sub-segments
- Growth factors, driving and restraining factors, product trends, and technological advancements are extensively discussed
- Latest product developments, incorporation of new techniques and profiles of major competitors
- An 8-year forecast estimation detailing the growth and expansion scope of the Wound Care Market
- In-depth analysis of the historical years (2017-2018) and forecast period (2020-2027)
- Market dynamics with information of players, challenges, restraints, threats, and opportunities
- SWOT analysis and Porter’s Five Forces analysis of the top vendors
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