The global wound care market is growing at a CAGR of over 5% during the forecast period 2018-2024.
Key Market Insights
This report provides the following insights into the wound care market for the forecast period 2019-2024.
Offers market sizing and growth prospects of the wound care market for the forecast period 2019-2024.
Provides comprehensive insights on the latest industry trends, market forecast, and growth drivers in the wound care market.
Includes a detailed analysis of market growth drivers, challenges, and investment opportunities.
Delivers a complete overview of market segments and the regional outlook of the wound care market.
Offers an exhaustive summary of the vendor landscape, competitive analysis, and key market strategies to gain a competitive advantage in the market.
The adoption of wound care biologics is augmenting the growth of the global wound care market. The commercial availability of a wide array of wound biologics is likely to encourage many end-users to use them in treating wounds as they are clinically proven, safe, and effective than other products.
The growing incidence of infections caused in lesions is another factor accelerating the growth of anti-microbial dressings market segment. Anti-microbial agents such as chlorhexidine, maggots, silver, iodine, and honey are increasingly becoming important in the global wound care market. Therefore, the incorporation of anti-microbial agents in wound dressing products is improving clinical outcomes for the treatment of wounds, thereby driving the global wound care market.
The following factors are likely to contribute to the growth of the wound care market during the forecast period:
Growing Focus on the Development and Commercialization of Wound Biologics
The emergence of Stem Cell Therapy for Wound Healing
New Product Approvals/Launches
Increasing Number of Surgical Procedures
Wound Care Market: Segmentation
This research report includes detailed market segmentation by products, wound type, end-users, and geography.
The increase in the geriatric population is a major contributing factor for the growth of the advanced wound care segment as the prevalence of diabetes and other diseases is more common in the elderly age group than youth. The advanced segment is also growing as the majority of market players are offering innovative products to meet the demand for wound care worldwide. The rising incidence of diabetes and associated diabetic foot ulcers in the elderly population globally is fueling steady growth for traditional products. The market is also growing steadily as products such as gauze bandages and adhesive bandages witness sustainable demand for small cuts, bruises as well as for chronic wounds and burns, especially in developing countries. Developing regions such as Africa, Asia, and Latin America are the largest contributors to the traditional products.
The acute wound market is growing mainly due to the rise in surgical site infections (SSI) and the increase in the number of burn cases worldwide. Chronic wounds do not heal through the normal healing process. The segment is growing due to the growing burden of diabetic foot ulcers, venous leg ulcers, pressure ulcers, and some surgical site infections that do not heal naturally or with medicines. Further, about 70% of lower-extremity ulcers are caused by chronic venous insufficiency. People aged 65 years or above are vulnerable to venous ulcers. The overweight and obese population also develop a high risk for diabetes and associated chronic wounds. Therefore, the growing incidence of several chronic wounds is driving the growth of the segment.
The shift from traditional lower technology wound care treatments to the adoption of advanced treatments is a major factor for the high share of the hospitals and specialty wound clinic segment. Long-term care facilities segment is growing at a steady pace because of the growing incidence of chronic wounds due to the increase in chronic diseases such as diabetes. The growing elderly population is contributing to the growth of the segment as they are more prone to chronic diseases.
Key Vendor Analysis
The global wound care market is highly competitive and dynamic characterized by the presence of several global, regional, and local vendors, offering a diverse range of products and devices for treating various acute and chronic wounds. There are approximately more than 400 vendors providing a wide array of wound care products worldwide. Multiple product launches, strategic acquisitions, and differentiated products have fueled the growth in recent years. New product launches and strategic acquisitions, collaborations will be crucial for companies to maintain revenue growth in the coming years.
Large and diversified companies account for nearly 48% of the market share. Also, the majority of key players have demonstrated consistent growth in the last three years. Moderate to the high growth of major players will continue to boost the market growth. In addition, both established and emerging players are developing or commercializing wound care products and devices. Major players are focusing on technological innovations, thereby investing substantial amounts on R&D activities for offering advanced wound care products such as advanced wound dressings, skin grafts, and wound biologics.
Key Topics Covered
1 Research Methodology
2 Research Objectives
3 Research Process
4 Scope & Coverage 4.1 Market Definition 4.1.1 Inclusions 4.1.2 Exclusions 4.2 Base Year 4.3 Scope of the study 4.4 Market Segments 4.4.1 Market Segmentation by Product 4.4.2 Market Segmentation by Wound Type 4.4.3 Market Segmentation by End-user Type 4.4.4 Market Segmentation by Geography
24 Key Company Profiles 24.1 Smith & Nephew 24.1.1 Business Overview 24.1.2 Smith & Nephew in the Global Wound Care Market 24.1.3 Major Product Offerings 24.1.4 Key Strengths 24.1.5 Key Strategies 24.1.6 Key Opportunities 24.2 Acelity 24.3 Mlnlycke Health Care 24.4 3M 24.5 ConvaTec 24.6 Paul Hartmann 24.7 Coloplast 24.8 Cardinal Health 24.9 Medtronic
25 Other Prominent Vendors 25.1 ACell 25.2 Adhesys Medical 25.3 Advanced Medical Solutions Group 25.4 Advancis Medical 25.5 AediCell 25.6 AlloSource 25.7 AMERX Health Care 25.8 AOTI 25.9 Axio Biosolutions 25.10 Baxter 25.11 B. Braun Melsungen 25.12 BD 25.13 BSN medical 25.14 BTI Biotechnology Institute 25.15 Carilex Medical 25.16 Cohera Medical 25.17 CONMED 25.18 Cork Medical 25.19 Covalon Technologies 25.20 CryoLife 25.21 DeRoyal Industries 25.22 Ethicon 25.23 Grena 25.24 Hollister 25.25 Intergra LifeSciences 25.26 Intuitive Surgical 25.27 Lohmann & Rauscher (L&R) 25.28 Medline Industries 25.29 MiMedx 25.30 MPM Medical 25.31 MTF Biologics 25.32 Ocular Therapeutix 25.33 Organogenesis 25.34 Osiris Therapeutics 25.35 Pters Surgical 25.36 Purple Surgical 25.37 Reach surgical 25.38 Sealantis 25.39 Sechrist 25.40 Sonoma Pharmaceuticals 25.41 Sutures India 25.42 Synovis MCA 25.43 Talley Group 25.44 Triage Meditech 25.45 Tricol Biomedical 25.46 URGO 25.47 Vivostat 25.48 Waston Medical Appliance
Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.
CONTACT: ResearchAndMarkets.com
Laura Wood, Senior Press Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
Related Links:
Author: Copyright GlobeNewswire, Inc. 2016. All rights reserved. You can register yourself on the website to receive press releases directly via e-mail to your own e-mail account.
Real-time