Wound Antiseptics Market projected to expand at a steady 3.5% CAGR by 2022-2032 - Persistence Market Research
NEW YORK, May 16, 2022 /PRNewswire/ -- The global wound antiseptics market is expected to expand at a CAGR of 3.5% over the next ten years (2022-2032).
Increasing incidence of chronic wound cases has resulted in the development and introduction of therapies that offer faster and more efficient wound healing. This helps reduce the average length of hospital stay through early recovery. Chronic wounds are a major health concern as they frequently progress to the surrounding tissues causing infection and sometimes leading to the need for amputation. Traditional methods of wound care and cleansing are being re-evaluated, and as a result, advanced wound antiseptics are being incorporated for the reduction of infection-related costs.
Growing awareness and increasing application of wound antiseptics in wound management are expected to drive market growth. These wound antiseptics significantly reduce the risk of contamination and transmission of infection at the site of the wound. Furthermore, healthcare professionals are now accepting new technology-driven treatment protocols as they can manage the wound healing process in a lesser duration of time than traditional methods. Key manufacturers, along with the development of new products for wound care, are also focussing on establishing standard protocols for their management. Also, some companies have launched digital education portals for healthcare professionals to provide them with better guidance for wound care management.
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Key Takeaways from Market Study
- Hydrogen peroxide-based wound antiseptics held more than 45% market share by solution in 2021.
- Wound antiseptic sprays contributed nearly 25.7% revenue share in 2021.
- Acute wounds are the most commonly seen wound type, holding 49.4% of the global market in 2021.
- By end user, hospitals are preferred more by patients, and the segment held a market share of around 37.2% in 2021.
- Around 34.4% of the global market share, by region, was accounted for by North America in 2021.
"High prevalence of diabetic ulcers, growing geriatric population, and increasing consumption of wound antiseptics will drive market growth over the coming years," says an analyst of Persistence Market Research.
Market Competition
To sustain in the market, market players are focusing on the development of innovative products that are not only suitable for faster healing but also for increasing the comfort level of patients. This is because, when the patient is comfortable, he will be more cooperative throughout the procedure.
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Furthermore, due to wounds being at a different location for every patient, there is the need for customization and development of products that can easily be utilized for several patients. Thus, most manufacturers are focused on the development and approval of new products.
- For instance, in November 2020, Sanara MedTech announced the launch of the BIAKO?S antimicrobial wound gel as well as recent viral testing results for the BIAKO?S skin and wound cleanser.
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What Does the Report Cover?
Persistence Market Research offers a unique perspective and actionable insights on the wound antiseptics market in its latest study, presenting a historical demand assessment of 2017 – 2021 and projections for 2022 – 2032.
The research study is based on the product type (PHMB, povidone-iodine, and hydrogen peroxide), form (sprays, solutions, foams, wipes and gels), wound type (acute wounds (surgical wounds and traumatic wounds), chronic wounds (vascular ulcers, diabetic ulcers, pressure ulcers, surgical ulcers, and traumatic ulcers), and burns), and end user (hospitals, ambulatory surgical centers, clinics, long-term care centers, and home care settings), across seven key regions of the world.
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