The new report by Expert Market Research titled, ‘Global Wound Care Market Size, Share, Industry Growth, Price, Trends, Analysis, Report and Forecast 2020-2025′, gives an in-depth analysis of the global wound care market, assessing the market based on its segments like product types, applications, end uses, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2015-2025)
1. Historical Market Size (2019): USD 19.73 billion
2. Forecast CAGR (2020-2025): 3.8%
3. Forecast Market Size (2025): USD 24.68 billion
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The increasing growth, as well as the rapid innovation in the industry, has been pushing the growth of the wound care market in the historical period and is likely to boost the growth in the coming years as well. The rising diabetes cases worldwide are also expected to drive the market growth further. The rising geriatric population is also an important factor propelling the market growth. The growth of the industry is being driven by the increased funds as well as investments in research. The spike in accidents and serious injuries has also led to the development of the wound care market. Enhanced customer awareness campaigns are also expected to boost the market growth.
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Industry Definition and Major Segments
Wound care is applied to different cases of pressure sores, skin ulcers, as well as other skin splitting wounds.
On the basis of product type, the industry can be divided into:
1. Infection Management
2. Exudate Management
3. Active Wound Care
4. Therapy Devices
Based on application, the industry can be segmented into:
1. Chronic Wounds
2. Acute Wounds
The major end use sectors in the market include:
2. Community Health Service Centres
The regional markets for wound care include:
1. North America
3. Asia Pacific
4. Latin America
5. Middle East and Africa
The main drivers for skin, as well as wound care market, are the awareness initiatives for wound treatment and management and the rise in funding for research globally. In addition, the increasing number of road injuries and accidents is expected to lead to the growth of the market for wound care. For example, due to the recent advancements, the healing process is accelerated due to changes in the injury’s microenvironment that influence the activity of different immune cells. The new technology enables researchers to boost the number of a CXCL12 chemokine directly to the wound surface for ample time. Furthermore, CXCL12 bioavailability is improved in a synergistic manner in the wound since a slight degree of pH is inhibited by the bacterial generated lactic acid.
Key Market Players
The major players in the market are 3M Company, BSN Medical GmbH, Mlnlycke Health Care AB, ConvaTec Healthcare B S.a.r.l., Acelity L.P. Inc., Medtronic Plc, Coloplast A/S, and Smith & Nephew Plc, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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