Global $34.45 Bn Wound Care Markets, 2021-2030 by Product Type, Wound Type, Age Group, End User

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Feb 08, 2022, 08:30 ET

DUBLIN, Feb. 8, 2022 /PRNewswire/ -- The "Wound Care Market Research Report: By Product Type, Wound Type, Age Group, End User - Global Industry Revenue Estimation and Demand Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.

The global wound care market revenue is predicted to witness a 5.5% CAGR during 2021-2030, to reach $34,459.2 million by 2030.

The rising prevalence of chronic diseases, such as diabetes; increasing cases of burns and other types of injuries, and booming geriatric population are propelling the demand for wound care products.

Manufacturing facilities of wound care market players were shut down in the beginning of 2020 to lessen the spread of the COVID-19 infection among workers. Additionally, lockdowns and movement restrictions forced people inside their homes, which substantially reduced the incidence of chemical burns and road accidents, thereby pushing down the demand for wound care products.

Wound closure, advanced, and traditional are the categories of the wound care market, based on product type. Among these, in 2020, the market was dominated by the advanced category, and the same trend is expected till 2030. Advanced wound care offers faster wound healing and more-effective infection control and leads to fewer drainage issues.

North America was the largest wound care market in 2020 due to the increasing demand for such products among the elderly, technological advancements in such products due to extensive research and development (R&D), and surging spending on healthcare. Asia-Pacific (APAC) will likely grow the fastest till 2030, driven by the booming geriatric population and increasing number of burns and traumatic wounds.

In order to improve their position in the wound care market, the providers of such products are engaging in mergers and acquisitions.

For instance, in February 2020, an agreement was signed by Essity AB for the acquisition of 75% shares of ABIGO Medical AB, a medical solutions firm based in Sweden. ABIGO Medical AB offers a range of advanced wound care solutions, including Sorbact. With the acquisition, Essity AB widened its portfolio of advanced wound care products that prevent bacterial invasion without making the body resistant to antibiotics.

In the same way, in April 2019, Leaf Healthcare Inc., which developed the Leaf Patient Monitoring System for patient mobility monitoring and pressure injury prevention, was acquired by Smith & Nephew PLC. After a two-year exclusive distribution and strategic investment partnership with Leaf Healthcare, Smith & Nephew acquired the latter to improve its advanced wound care portfolio.

Market Dynamics

Trends

Shift in preference from traditional products to advanced therapies

Drivers

Growing geriatric population
Increasing prevalence of diabetes
High rate of injuries and trauma cases
Increasing prevalence of chronic wounds
Rising cases of burns
Impact analysis of drivers on market forecast

Restraints

High cost of advanced wound dressing products
Inability of traditional wound dressing to treat severe wounds
Impact analysis of restraints on the market forecast

Opportunities

Developing economies offer lucrative growth opportunities

Impact of COVID-19

Porter's Five Forces Analysis

Market Segments

By Product Type

Advanced
Dressing
Foam
Hydrocolloid
Film
Alginate
Antimicrobial
Hydrogel
Collagen
Hydrofiber
Wound contact layer
Superabsorbent
Therapy device
NPWT device
Pressure relief device
Biologic
Skin substitute
Collagen-based
Growth factor
Wound closure
Suture
Hemostat
Surgical staple
Adhesive & tissue sealant
Wound closure strip
Traditional
Bandage
Fixation tape
Gauze
Sponge
Abdominal pad
Others

By Wound Type

DFU
Pressure ulcer
Surgical & traumatic wound
Burn
VLU
Others

By Age Group

By End User

Hospital & clinic
Homecare setting
Long-term care setting

Company Profiles

Hollister Incorporated
DeRoyal Industries Inc.
ConvaTec Group plc
Johnson & Johnson
Smith & Nephew PLC
Molnlycke Health Care AB
3M Company
Essity AB
Paul Hartmann AG
B. Braun Melsungen AG
Coloplast A/S
Tecnoquimicas S.A.
Beiersdorf AG
Integra LifeSciences Holdings Corporation
Wright Medical Group N.V.

For more information about this report visit https://www.researchandmarkets.com/r/mfca7e

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