The global wound care market size is expected to reach USD 32.02 Billion in 2028 and register a CAGR of 7.6% over the forecast period, according to latest report by Reports and Data. Steady revenue growth of the wound care market can be attributed to growing use of different wound care products such as advanced wound dressings, surgical wound care products traditional wound care products, in healing different type of chronic wounds and acute wounds.
Fast-growing geriatric population and increasing incidences of surgical wounds and burn wounds are major factors responsible for the wound care market revenue growth. Increasing cases of diabetic foot ulcers, and increasing expenditure is expected to escalate the market revenue growth.
Rising demand for advanced wound care systems for fast healing of wounds and growing awareness among people regarding chronic wounds are major factors driving market growth – Our Expert Opinion
Increasing incidences of diabetic foot ulcers, pressure ulcers and venous leg ulcers has led to serious chronic wounds. According to data published in the U.S. National Library of Medicine, in 2018, it was estimated that 5.7 million patients were suffering from chronic wounds. Prevalence of chronic wounds among youth and adults has become a matter of concern which will drive the market revenue growth.
However, difficulties in advancements of the wound care market include huge purchasing cost of advanced wound care systems. Lack of awareness, poor reimbursement policies in underdeveloped countries may hamper the market revenue growth in upcoming years.
Some Key Highlights from the Report:
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Competitive Landscape:
The report also focuses on details of each market player including its global position, financial standing, revenue generation, company overview, product & service portfolio. The Wound Care market is extremely competitive and consists of several key players at regional and global level. Key players are focused on adopting various strategies such as new product launches, mergers and acquisitions, investments in R&D, partnerships, joint ventures and collaborations to strengthen their market position and enhance product portfolio.
Leading companies operating in the market are:
Smith & Nephew PLC, 3M, ConvaTech Inc., Cardinal Health, Coloplast A/S, Molnlycke Health Care AB, Medtronic, Paul Hartmann AG, BSN Medical, Integra LifeSciences Corporation, and Johnson & Johnson Services Inc.
The report also offers detailed insights about market segmentation based on type, application and regional bifurcation:
Wound Care Market Segmentation:
End-use Outlook (Revenue, USD Billion; 2018-2028)
Type Outlook (Revenue, USD Billion; 2018-2028)
Geographic Segment Covered in the Report:
The Wound Care report provides information about the market area, which is further subdivided into sub-regions and countries/regions. In addition to the market share in each country and sub-region, this chapter of this report also contains information on profit opportunities. This chapter of the report mentions the market share and growth rate of each region, country, and sub-region during the estimated period.
• North America (the USA and Canada)
• Europe (UK, Germany, France, and the rest of Europe)
• Asia Pacific (China, Japan, India, and the rest of the Asia Pacific region)
• Latin America (Brazil, Mexico, and the rest of Latin America)
• the Middle East and Africa (GCC and the rest of the Middle East and Africa)
Key market aspects are illuminated in the report:
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