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Wound Care Market Size, Business Strategies, Regional Outlook and Analysis Through 2030

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Wound Care Market Size, Business Strategies, Regional Outlook and Analysis Through 2030

January 10
12:04 2022
Wound Care Market Size, Business Strategies, Regional Outlook and Analysis Through 2030
North America was the largest contributor to the wound care market in 2020. This is mainly attributed to the rise in demand for wound care products among geriatric population, availability of technologically advanced products, high healthcare spending, and increase in research and development activities, in the region.

A wound is one of the most-common signs of a physical injury, prompting the conscious to take action to seal it and stop blood loss. As a result, the science of wound care is an ancient one, with traditional techniques involving wrapping a piece of cloth tightly around the injured area (tourniquet) and even applying the sap or crushed leaves of certain plants said to contain antiseptic properties. Hence, as the global population grows, so will the number of people with wounds.

This is why according to P&S Intelligence, the wound care market value will increase from $20,368.2 million in 2020 to $34,459.2 million by 2030, at a 5.5% CAGR during 2021–2030 (forecast period). With time, as new types of wounds have been discovered and studied that aren’t curable with traditional methods, the wound care science has continuously evolved. For a long time, bandages and gauzes were preferred, but even they have proven slightly ineffective in treating severe and deep wounds.

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Thus, the demand for advanced wound care products is surging around the world. These products include foam, film, hydrocolloid, alginate, hydrogel, antimicrobial, collagen, wound contact layer, Hydrofiber, and superabsorbent dressings; pressure-relief and negative-pressure wound therapy (NPWT) devices; and skin substitutes, collagen-based biologics, and growth factors. Compared to traditional wound care products, they provide faster and more-effective healing, by keeping the wound moist, allowing for gaseous exchange, and preventing microbial colonization.

In this regard, the growing geriatric population is a key reason for the wound care market advance. With age, the body loses its ability to heal itself, which is why it needs external care. Moreover, wounds in older people are nastier and longer-lasting, which makes advanced wound care imperative. Another reason the requirement for extensive care among the elderly is high is the higher prevalence of chronic diseases, such as cancer and diabetes, in them. These diseases often lead to wounds, which take a long time to heal unless extensive wound care is constantly provided.

Considering the increasing incidence of all these issues and of physical injuries due to accidents and violence, wound care is easily available at hospitals and clinics, long-term-care settings, and homecare settings. Among these places, hospitals and clinics dispense wound care services to the largest number of people as these places have trained professionals with extensive experience and advanced equipment. Moreover, victims of extreme violence and accidents often require immediate and extensive surgery and wound care, which is mostly provided by the trauma departments at full-fledged hospitals.

Browse detailed report on Wound Care Market Segments Analysis, Future Opportunity, Current Challenges, Geographical Regions, Key Manufacturers and Industry Forecast To 2030

During 2014–2020 (historical period), the wound care market was led by North America because of the high prevalence of chronic diseases, rising geriatric population, and high healthcare spending. With over $4 trillion, the healthcare spending of the U.S. was the highest in the world in 2020. Such a high spending leads to numerous research and development (R&D) projects, which, ultimately result in the availability of more-effective wound care solutions.

In the coming years, the demand for these solutions is set to grow the fastest in Asia-Pacific (APAC), which is the most-populous region on earth. This is why the geriatric population of the region is also the largest in the world, as is the population of people with medical issues. Therefore, governments in the region are spending huge sums to develop their healthcare infrastructure, boost R&D, and make effective care available to the masses.

Therefore, as the number of people with chronic diseases and wounds increases, so will the demand for wound care.

Market Size Breakdown by Segment

By Product Type

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

By Wound Type

  • Diabetic Foot Ulcer
  • Pressure Ulcer
  • Surgical & Traumatic Wound
  • Burn
  • Venous Leg Ulcer
  • Others

By Age Group

  • Under 14
  • 14–49
  • 50–64
  • 65–74
  • 75–80
  • Above 80

By End User

  • Hospital & Clinic
  • Homecare Setting
  • Long-Term Care Setting

Market Segmentation by Region

  • North America Wound Care Market
    • By product type
    • By wound type
    • By age group
    • By end user
    • By country – U.S. and Canada
      • U.S. wound care market
        • By product type
        • By wound type
        • By age group
        • By end user
      • Canada wound care market
        • By product type
        • By wound type
        • By age group
        • By end user
  • Europe Wound Care Market
    • By product type
    • By wound type
    • By age group
    • By end user
    • By country – Germany, France, U.K., Italy, Spain, Russia, Netherlands, Belgium, Switzerland, and Rest of Europe
      • Germany wound care market
        • By product type
        • By wound type
        • By age group
        • By end user
      • France wound care market
        • By product type
        • By wound type
        • By age group
        • By end user
      • U.K. wound care market
        • By product type
        • By wound type
        • By age group
        • By end user
      • Italy wound care market
        • By product type
        • By wound type
        • By age group
        • By end user
      • Spain wound care market
        • By product type
        • By wound type
        • By age group
        • By end user
  • Asia-Pacific (APAC) Wound Care Market
    • By product type
    • By wound type
    • By age group
    • By end user
    • By country – Japan, China, India, South Korea, Australia, and Rest of APAC
      • Japan wound care market
        • By product type
        • By wound type
        • By age group
        • By end user
      • China wound care market
        • By product type
        • By wound type
        • By age group
        • By end user
      • India wound care market
        • By product type
        • By wound type
        • By age group
        • By end user
  • Latin America Wound Care Market
    • By product type
    • By wound type
    • By age group
    • By end user
    • By country – Brazil, Mexico, and Rest of LATAM 
  • Middle East and Africa Wound Care Market
    • By product type
    • By wound type
    • By age group
    • By end user
    • By country – Saudi Arabia, South Africa, and Rest of MEA

Browse Other Related Reports

Colombian Wound Care Market – The Colombian wound care market is predicted to register the highest growth in Cundinamarca in the forthcoming years. The key factors fueling the expansion of the market in this state are the surging healthcare expenditure, the soaring research and development activities, and the increasing implementation of favorable government initiatives regarding wound care products in the state. 

Advanced Wound Care Market – Across the globe, the advanced wound care market will exhibit the fastest growth in the Asia-Pacific region in the forthcoming years. This is credited to the surging population of geriatric people and the rising incidence of diabetes, burns and road accidents in the region. According to the observations of the World Health Organization (WHO) in 2014, around 1 million people are diagnosed with moderate and severe burns in India every year.

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Country: India
Website: https://www.psmarketresearch.com/market-analysis/wound-care-market

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