Wound Care Market Overview:
In a recent research report by Market Research Community, the Wound Care market is expected to surpass USD 30.38 billion by the year 2030, from USD 20.80 billion in 2021.
Wound care is performed on acute wound or chronic wound to increase the rate of healing. Increasing investments by key players such as Braun Melsungen AC, ConvaTech Group PLC, and other in advanced wound care products are expected to boost the growth of the wound care market.
During the projection period, the surgical wound care sub segment is expected to increase at a significant pace of 4.7%. This can be attributable to an increase in invasive surgical cases and surgical site infections throughout the world. According to the National Healthcare Safety Network (NHSN) Surgical Site Infection Surveillance in 2018, 157,500 instances of SSI are recorded in the United States each year. As a result, the segment is growing in the wound care market.
Asia-Pacific is expected to have the highest CAGR of 4.8% over the projection period. Owing changing lifestyle, which has led to a rise in the incidence of chronic illnesses in this region. According to the Down to Earth group, India will have 74.2 million diabetes patients aged 20 to 79 by December 2021. Furthermore, the figure is predicted to rise to 124.8 million by 2045. Furthermore, as medical tourism grows in this region, so does the number of procedures do. For the reasons, Asia-Pacific is expected to develop at the quickest rate throughout the predicted period.
The market is projected to grow at a significant pace reaching a CAGR of approximately 4.3%, over the forecast period of 2022–2030, despite a considerable fall in product sales during the initial phase of pandemic spread and lockdown restrictions imposed globally.
The study is consolidated into major segments and further into sub-segments, such as by Product (Advanced Wound Dressing, Surgical Wound Care, Traditional Wound Care, Wound Therapy Devices ), by application (Chronic Wounds, and Acute wound) end-use (Hospitals, Specialty Clinics, Home Healthcare, Others), to forecast the Wound Care market size by value; also includes the analysis of past market dynamics from 2016 – 2021, considering 2021 as the base year.
Lastly, the report includes a regional analysis and country analysis with the latest trends, along with the major key players including Smith Nephew, Mölnlycke Health Care AB, ConvaTec Group PLC, Ethicon (Johnson Johnson), Baxter International, URGO Medical, Coloplast Corp., Medtronic, 3M, Derma Sciences Inc. (Integra LifeSciences)
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