PUBLISHED DATE : Oct 2019 | Pages : 337
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Wound Care Market Size, Share, & Trends Analysis Report by Products (Advanced Wound Care Products, Sutures, and Stapling Devices, Traditional Wound Care, Hemostats and Surgical Sealants), Wound Type (Acute, Chronic), End-users (Hospitals and Specialty Wound Care Clinics, Long-term Care Facilities, Home Healthcare), and Geography (Europe, North America, Latin America, Middle East Africa, and APAC), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019-2024
337 Pages
89 Tables
176 Charts
5 Regions
19 Countries
57 Companies
4 Market Segment
| Report Attribute | Details |
|---|---|
| Market Size ( revenue) | USD 38 Billion (2024) |
| CAGR | 5.5% (2019-2024) |
| Base Year | 2018 |
| Forecast Year | 2019-2024 |
| Market Segments | Products (Advanced Wound Care Products, Sutures, and Stapling Devices, Traditional Wound Care, Hemostats and Surgical Sealants), Wound Type (Acute, Chronic), End-users (Hospitals and Specialty Wound Care Clinics, Long-term Care Facilities, Home Healthcare) |
| Geographic Analysis | Europe, North America, Latin America, Middle East & Africa, and APAC |
| Countries Covered | US, Canada, UK, Germany, France, Italy, Spain, Japan, China, India, South Korea, Australia, Brazil, Mexico, Argentina, Turkey, South Africa, Saudi Arabia, & Iran |
The global wound care market size to reach USD 38 billion by 2024, growing at a CAGR of 5.5% during the forecast period. The global wound care market growth is witnessing a surge due to the emergence of stem cell therapy for healing. Stem cell research is expected to become more widely understood and accepted by the general population, especially for its benefits in wound treatment management. The rising incidence of infections caused in lesions is likely to accelerate the growth of antimicrobial wound dressings segment in the global wound care market.
Increased benefits of clinically proven advanced wound care products and devices to manage acute and chronic wounds have majorly contributed to the strong demand for wound care products. A majority of healthcare professionals prefer advanced products due to faster healing capacities, which is contributing to the growth of the market share.
This Wound Care industry analysis report includes detailed segmentation by
The sutures and stapling devices segment is likely to register the highest CAGR during the forecast period. The rising number of surgical procedures worldwide is a key driver for the growth of the segment. The use of wound dressings has witnessed significant growth in recent years, and this trend is likely to continue during the forecast period. The growing incidence of chronic lifestyle diseases such as diabetes and other acute and chronic injuries due to surgical procedures is one of the major factors driving advanced wound dressings market growth.
The surgical wound care market share is likely to increase during the forecast period. The growing burden of ulcers, which include diabetic foot ulcers, venous leg, and pressure ulcers, is contributing to the market growth. In 2018, the surgical sealants category accounted for a share of 39% of the overall hemostats & surgical sealants segment. Surgical procedures are generally accompanied by several risks, including infection, excessive bleeding, or tissue damage. Surgical sealants are less traumatic than traditional methods since they do not have the risk of causing further damage to tissues. The growing elderly patient population suffering from diabetic foot ulcers needs various surgical procedures to treat orthopedic, GI, and other diseases. This patient population needs to take extra precautions as chances of infections and injuries, during and after surgery are significantly high. This further drives the growth of surgical sealants, given their added advantages to treating surgical wounds.
The acute wound segment accounts for more than half of the global wound care market share. Surgical and traumatic injuries, superficial burns, and abrasions are generally considered as acute injuries. The segment is growing mainly due to the growing number of surgical procedures and the increasing incidence of several diseases. Surgical site infections (SSI) is another key factor for the growth of the acute injury segment of the global market.
In 2018, the hospital & specialty clinic segment accounted for more than half of the global wound care market share. The segment is growing mainly due to the increasing number of surgical procedures and surgical wounds. Vendors such as Acelity and ConvaTec are also increasingly focusing on strengthening their relationships with hospitals. They establish a relationship to sell a high volume of their products to hospitals. The long-term care facilities segment is growing at a steady pace due to the rising incidence of chronic injuries, mainly due to the increasing burden of the patient population with chronic diseases such as diabetes. The growing elderly population is also contributing to the growth of the segment since the people in this age group are vulnerable in developing various chronic diseases such as diabetes. In 2018, the home healthcare segment accounted for a share of 10% of the market.
North America is the market wound care market, accounting for a market share of 38%. The US is the largest market compared to other countries worldwide. The growing population suffering from several acute and chronic injuries are the primary factor for its high market share. Also, the growing geriatric population is another key factor driving the growth of the region.
Germany, France, the UK, Italy, and Spain are witnessing significant growth in the market. Factors such as the presence of highly sophisticated healthcare infrastructure, the increase in the patient population, and high awareness regarding the availability of advanced treatment options are the major growth factors. Also, the increased investment in R&D activities for the development of innovative products will have a positive impact on growth.
The APAC region is likely to witness an absolute growth of around 52%, higher than all other regions during the forecast period. China, Japan, India, South Korea, and Australia are the major revenue contributors to the wound care market in the APAC region. Some of the factors contributing to the region’s growth are the presence of a large pool of patients with acute and chronic injuries, the high volume of surgical procedures, improvements in healthcare infrastructure, and increased healthcare expenditure.
The global wound market is highly competitive and dynamic. It is characterized by the presence of several global, regional, and local vendors. The major players operating in the market offer a diverse range of products and devices for treating various acute and chronic injuries. Approximately more than 400 vendors are providing a wide array of products worldwide.
Multiple product launches and strategic acquisitions have fueled the growth in recent years. Large and diversified companies account for nearly 48% of the global wound care market share. 3M, Acelity, Cardinal Health, Coloplast, ConvaTec, Medtronic, Mölnlycke Health Care, PAUL HARTMANN, Smith & Nephew are the key players in the global market.
Segmentation by Products
By Wound Type
By End-users
By Geography
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