Wound Care Market by Product (Advanced (Foam, Alginate, Hydrogel, NPWT, Active), Surgical, Traditional), Type (Chronic (Diabetic Foot, Pressure Ulcer), Acute (Burn, Trauma)), End User (Hospital, Long-term Care, Home Healthcare) - Global Forecast to 2022
“Global wound care market projected to grow at a CAGR of 3.7% during the forecast period”
The 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 the growth of this market include the increasing prevalence of diabetic foot, pressure ulcers, venous leg ulcers and other chronic wounds, increasing geriatric population, surging R&D activities in the field of wound care research, development of advanced wound care products, rising number of road traffic accidents, and increasing awareness programs for wound care treatment and management. On the other hand, the growth of this market is hindered to some extent due to the high cost of chronic wound treatment and side-effects associated with the use of these products.
“Advanced wound management products segment expected to grow at the fastest rate during the forecast period”
The advanced wound management products are anticipated to grow at the highest CAGR during the forecast. Factors such as the increasing incidence of acute and chronic wounds and the surging demand for novel and advanced wound management products for the treatment of acute and chronic wounds, are responsible for this positive market growth.
“The chronic wounds segment is anticipated to grow at the fastest growth rate during the forecast period”
The wound care market by wound type, the market is categorized into chronic wounds and acute wounds. The chronic wounds segment is estimated to grow at the fastest rate during the forecast period. Factors such as the rising incidence of pressure ulcers, diabetic foot ulcers, and venous ulcers and the increasing geriatric population worldwide are the key factors for driving the growth of this market.
“The home healthcare segment is estimated to grow at a rapid rate during the analysis period”
By end user, the wound care market is segmented into hospitals and specialty wound care clinics, long-term care facilities, and home healthcare. The home healthcare segment is the fastest growing segment of the global wound care market on the basis of end user. The rapid growth in the aging population and the rising incidence of chronic diseases are driving the demand for wound care products in this end-user segment. The need for wound care products is especially high where surgical interventions, especially for orthopedics, vascular diseases, endoscopic surgeries, dermatological ulcers, bedsores, and burns, are involved. The increasing volume of surgical procedures and the need to control soaring healthcare costs are expected to increase the use of single-use disposable and portable systems such as negative pressure wound therapy (NPWT) that are used in home care.
“Asia Pacific is estimated to grow at the highest CAGR during the study period”
Geographically, the wound care market is dominated by North America, followed by Europe in 2017. The Asia Pacific region is estimated to grow at the fastest rate which can be attributed to the large population in China and India, increasing research in wound care, and the increasing penetration of key players in the emerging markets of Asia Pacific.
The primary interviews conducted for this report can be categorized as follows:
• By Company Type - Tier 1 – 70% and Tier 2 – 30%
• By Designation – C level – 62%, Director level – 21%, Others – 17%
• By Region – North America – 50%, Europe – 20%, Asia Pacific – 30%
The key players in the wound care market include Acelity L.P. Inc. (US), Smith & Nephew plc (UK), Mölnlycke Health Care AB (Sweden), ConvaTec Group Plc (UK), Baxter International Inc. (US), Coloplast A/S (Denmark), BSN medical GmbH (Germany), Organogenesis Inc. (US), DeRoyal Industries, Inc.(US), IonMed (Israel), Ethicon, Inc. (US), Medtronic plc (Ireland), 3M Company (US), Hill-Rom Holdings, Inc. (US), Paul Hartmann AG (Germany), NovaBay Pharmaceuticals, Inc. (US), Derma Sciences, Inc. (US), Vivostat A/S (Denmark), Wound Care Technologies, Inc. (US), Leap Therapeutics Inc. (US), Hematris Wound Care GmbH (Germany), Alliqua BioMedical, Inc. (US), LayerBio Inc. (US) Triage Meditech Pvt. Ltd (India), and Fidia Pharma USA Inc. (US).
The report analyses the wound care market by product, wound type, end user, and regions. Apart from comprehensive geographic & product analysis and market sizing, the report also provides a competitive landscape that covers the growth strategies adopted by industry players over the last three years. 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. 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.
Key benefits of buying the Report:
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.
The report provides insights on the following pointers:
• Market Penetration: Comprehensive information on the product portfolios of the top players in the wound care market
• Product Development/Innovation: Detailed insights on the upcoming technologies, R&D activities, and product launches in the wound care market
• Competitive Assessment: In-depth assessment of the market strategies, geographic and business segments, and product portfolios of the leading players in the wound care market
• Market Development: Comprehensive information about emerging markets. This report analyzes the market for various wound care products across geographies
• Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the wound care market
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