The growing incidence of infections caused in lesions is likely to accelerate the growth of the global wound care market
Arizton’s recent market research report on the global Wound Care Market provides a comprehensive industry analysis, trend forecasts, and competitive analysis. The study includes insights by products (sutures and stapling devices, advanced and traditional wound care products, and hemostats and surgical sealants), wound type (acute and chronic wound), end-users (hospitals and specialty wound care clinics, long-term care facilities, home healthcare, and others), and geography (North America, APAC, Europe, Latin America, and MEA).
The global wound care market is expected to grow at a CAGR of over 5% during the period 2018−2024
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The global wound dressing market constitutes an important segment of the medical device industry. Several factors are expected to influence the growth of the market. First, it is expected that surgeons and patients will continue to demand innovative wound care products and devices, which allow fast, safe wound healing and promote better clinical outcomes. With the availability of positive clinical evidence, end-users are becoming increasingly adopting advanced products. North America region is leading the global wound care market.
The leading drivers and trends propelling the growth of the global wound care market are discussed below:
High Prevalence of Acute and Chronic Wounds
The prevalence of acute and chronic diseases is driving the global wound care market at a significant rate worldwide. Approximately one in three adults suffers from more than one chronic condition or multiple chronic conditions (MCC) globally, which mainly include cardiovascular disease (CVD), cancer, chronic lung diseases, and diabetes. Diabetes is one of the most common chronic diseases worldwide. According to the IDF 2017 estimates, around 425 million people had diabetes in 2017, and the number is expected to reach roughly 939 million by 2045. In the US and Canada, around 46 million people or 13% of the total population suffer from diabetes. With the increase in the number of people with diabetes, the prevalence of diabetic foot ulcers is also increasing globally. Approximately more than 305 million acute, traumatic and burn wounds are recorded and treated worldwide annually, and the incidence is expected to rise in the coming years.
Read: Surgical Wound Closure Devices Market - Global Outlook and Forecast 2021-2026
Growing Demand for Anti-microbial Wound Dressing Products
Antimicrobial wound dressing products help to prevent infection and provide protection from common infectious bacteria and other contaminants. They are considered more suitable for wound healing than antibiotics. The growing incidence of infections caused in lesions is likely to accelerate the growth of the industry. The increasing incidence of surgical and disease infections antimicrobial agents such as chlorhexidine, maggots, cutimed sorbact, silver, iodine, and honey is a major driver for the global wound care market. The incorporation of antimicrobial agents in wound dressing management by market players due to improved clinical outcomes is further expected to drive the global market.
Read: Laboratory Information Management System (LIMS) Market - Global Outlook and Forecast 2021-2026
Increasing Popularity of Natural Surgical Sealants
Surgical sealants are used in surgical procedures for closing incisions, sealing tissues internally, stopping bleeding, and securing implants to tissues. They are also applied in post-surgical procedures such as sealing of surgical incision leakage, reinforcing staples or suture line to control surgical site infections. The abundant availability and affordable price of natural sealants is contributing to the popularity of natural surgical sealants in the global wound care market.
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3M, Acelity, Cardinal Health, Coloplast, ConvaTec, Medtronic, Mölnlycke, Health Care, PAUL HARTMANN and Smith & Nephew are identified as prominent vendors in the global wound care market.
The complete overview of the latest market research report on the global wound care market by Arizton is now available.
The report offers a detailed study of major trends, drivers, challenges, and provides the market size and forecast for major geographical regions and key countries.
Read the complete report: Wound Care Market - Global Outlook and Forecast 2019-2024
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