Global Wound Care Market Share, Analysis And Forecast To 2031

(MENAFN- Straits Research) Introduction

The global demand for wound care products is increasing as the number of patients with chronic and acute wounds rises. market leaders continually focus on introducing innovative wound care products to meet unmet demand. As a result, more people are using conventional, bioactive, and other wound care products. In addition, governments in developing nations and other for-profit and non-profit organizations are increasingly focusing on various awareness campaigns to educate the public about innovative product offerings and therapeutic options for chronic and advanced wounds.

Market Dynamics Growing Popularity of Ambulatory Surgery Centers (ASCs) and Expanding funding for R&D Activities Drives the Global Market

The increase in Ambulatory Surgical centers (ASCs) is also anticipated to impact the wound care market. Surgery, testing, and preventive care are just a few of the many services that ASCs provide. Surgery for pain management, urology, orthopedics, restorative, reconstructive, alternative plastic surgery, and gastrointestinal (GI) surgery are all performed in ambulatory surgery facilities. ASCs have become more prevalent, their services have improved, and they have become more affordable.

Due to increased R&D spending and the launch of innovative products by market players like B. Braun Melsungen AG and ConvaTec Group PLC, demand for these products is predicted to increase, especially in developed countries. Additionally, the distinct clinical benefits of negative pressure wound therapy and the introduction of cutting-edge features like single use by market players entice medical professionals worldwide to use NPWT devices.

Numerous manufacturers attempt to expand the market primarily through acquisitions in developing regions. In addition, market participants are anticipated to adopt mergers or acquisitions with regional players and other expansion strategies to expand their market offerings. In addition, the growth of the markets for sealants, glues, and hemostats has been strong enough to captivate market participants.

Regional Analysis

North America has dominated the wound care market with the highest revenue share and is expected to increase during the forecast period. Significant factors influencing the market growth in this region include a sizable population base and an expanding patient pool in nations like the U.S.

Key Highlights

• The global wound care market was valued at USD 19.90 billion in 2021. It is projected to reach USD 31.81 billion by 2030, growing at a CAGR of 5.35% during the forecast period (2022–2030).
• Based on the product, the market is divided into advanced wound dressing, surgical wound care, traditional wound care, and wound therapy devices. The market for wound care is dominated by the advanced wound dressing segment.
• Based on application, the market is bifurcated into chronic and acute wounds. The chronic wounds segment dominated the wound care market.
• Based on end-use, the market is categorized into hospitals, specialty clinics, and home healthcare. During the forecast period, the segment for acute wounds is anticipated to experience the fastest CAGR.
• North America has dominated the wound care market with the highest revenue share and is expected to increase during the forecast period.