Wound care market is expected to reach USD 22.01 billion by 2022 from USD 18.35 billion in 2017, at a CAGR of 3.7%. Factors driving growth of market include increasing prevalence of diabetic foot, pressure ulcers, venous leg ulcers & other chronic wounds, increasing geriatric population, surging R&D activities in field of wound care research, development of advanced wound care products, rising number of road traffic accidents, & increasing awareness programs for wound care treatment & management. —
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The global wound care market segmented by product, wound type, end user and regions. By product type, the wound care market is segmented into advanced wound management products, surgical wound care products, and traditional wound care products. The advanced wound management products segment is estimated to account for the largest market share of the global wound care market in 2017.
The wound care market is segmented into hospitals and specialty wound care clinics, long-term care facilities, & home healthcare. Hospitals and specialty wound care clinics segment is estimated to account for largest share of global wound care market. Increase in number of chronic wound cases, rising incidence of diabetes, and improving hospital infrastructure in developing countries are some of major factors driving growth of this end-user segment.
• Wound care associations
• Research & consulting firms
• Distributors of wound research products
• Contract manufacturers of wound care products, devices, equipment and consumables
• Research institutes and clinical research organizations (CROs)
• Venture capitalists
• Doctors, nurses and wound care specialists surgeon
• Government associations
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The global wound care market is dominated by North America, followed by Europe. North America will continue to dominate global wound care market in forecast period. However, Asia Pacific is expected to witness highest CAGR, with growth in this market centered at Japan, China, and India. Factors such as rising focus of major players in emerging Asian countries and government support are driving growth of the wound care market in this region.
The advanced wound management products segment is estimated to account for the largest market share of the global wound care market in 2017. Factors driving the growth of this segment include the increasing incidence of diabetes and rising demand for innovative & advanced wound management products.
Wound care products may negatively affect their adoption, especially in cost-sensitive markets such as Asia and the RoW. A dry dressing costs around USD 3.25, whereas a bioengineered skin product costs USD 650. Owing to a significant cost difference, physician and patients are reluctant to adopt technologically advanced products, which in turn is likely to hinder the growth of the market.
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In addition, the company profiles includes the product portfolios, developments, and strategies adopted by prominent market players to maintain and increase their shares in the market. This report will enable both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn will help these firms garner greater market shares. Firms purchasing the report can use any one or a combination of the below-mentioned five strategies for strengthening their market shares.
Wound care market research data, current market size, and forecast of the future trends will help key market players and new entrants to make the necessary decisions regarding product offerings, geographic focus, change in strategic approach, and levels of output in order to remain successful in the type, products, applications, end users, and regions.
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