Wound Care Market is Anticipated to Witness Significant Growth by 2024 | Hexa Research

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Research Report on Wound Care Market Size, Share, Trends, Growth Analysis, Segmentation, Outlook, Overview and Forecasts – 2024

25 February 2019
Global wound care market is expected to witness substantial growth over the forecast period on account of the growing geriatric global population. Rising incidences and prevalence of chronic diseases has led to increasing demand for wound care services and products. As the wound care market is not restricted to commercial market segment, it has a wide scope and include commercial as well as residential wound care market segment. Wound care is a growing market and is anticipated to grow even further owing to increasing incidences and need for medical care across the globe. Wound infection is a major concern for the patients as well as medical professionals, thus wound care market is expected to grow even further in the forecast period. Rising wound care infections coupled with personal hygiene awareness has led to the growth of wound care products demand.

Wound care market demand is expected to grow even further on account of the technological developments such as innovative and advanced wound care systems. There has been a paradigm shift in the trend towards active wound care in India as the Government is taking initiatives to improve healthcare standards by programs like NRHM and investing in ramping up Government Medical Colleges. Furthermore, wound care products help in overall well being of patients suffering from diseases such as venous stasis ulcers, diabetic ulcers and pressure ulcers. Higher disposable income of patients coupled with sophisticated infrastructure and technological advancement are anticipated to be the vital drivers of wound care market.

Wound healing, at cellular level involves complex process and takes time if the wound is a complex wound. As complex wound takes time to heal, the risk of infections increase which is prevented by wound care products and help speeding up the process of healing. Advanced wound care consists of antimicrobial dressing, foaming dressing, film dressing and hydrogels which help to heal the regular as well as the complex wounds rapidly. Furthermore there are emerging trends and opportunities in the field of advanced wound care systems which is expected to boost the wound care products and wound care systems market.

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Global wound care market is categorized on the basis of mainly four types, advanced wound care, which is further subcategorized into films, foams, hydrocolloids, hydrogels, collagens, alginates and silver wound dressings. Active wound care is classifies into, skin substitutes & growth factors. Therapy devices are sorted into; negative pressure wound therapy, pressure relief devices, ultra-violet devices, oxygen and hyperbaric oxygen equipment, whirlpool therapy devices, ultrasound devices. Advanced wound closure is bifurcated into fibrin sealant, surgical sealant; gelatin based sealant, human fibrinogen and human fleece, mechanical stapling device, legating clips, and wound closure strips. Furthermore wound care market can be classified on the basis of application into, burns, ulcers, pressure ulcers, diabetic ulcers, venous leg ulcers, arterial ulcers and surgical wounds. Also, the market is bifurcated on the basis of end users into, hospitals & community health services and home healthcare.

North America is expected to dominate wound care market share in terms of value with U.S. anticipated to account for highest market share owing to the growing population, sophisticated healthcare centers and relatively high per capita income. In parts of Latin America such as Costa Rica and Panama, the market is expected to grow owing to the emerging diseases and rise in population whereas the market is expected to witness sluggish growth in some parts such as Guatemala where the consumer disposable income is low and majority of population will not able to afford the expensive treatments of advanced wound care systems. Market in South America is expected to grow eventually owing to the application of wound care products in sports and sports like event. Europe is expected to grow substantially on account of increasing awareness amongst people and development in the healthcare infrastructure. Asia-Pacific is anticipated to contribute and dominate the majority market of wound care products owing to the increasing awareness towards personal hygiene and growing per capita income. Middle East & Africa market is anticipated to grow on account of innovation which is expected to boost the wound care market.

Major contributors to wound care markets include, L.P., Inc., Smith and Nephew Plc., Integra Lifesciences Corporation, Mölnlycke Health Care, ConvaTec, Inc., Coloplast Corp., Organogenesis Inc., Medline Industries, Inc. and MPM Medical, Inc. (RBC Life Sciences, Inc.).

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