Bizizz Market Research has recently published a research report, “Wound Care Market by Type (Advanced Dressings, Foam Dressings, Hydrocolloid Dressings, Film Dressings, Alginate Dressings, Hydrogel Dressings, Collagen Dressings, Others, Surgical Dressings, Sutures & Staples, Tissue Adhesives and Sealants, Anti-infective Dressings, Traditional Wound Care, Medical Tapes, Cleansing Agents, Wound Therapy Devices, Negative Pressure Wound Therapy, Oxygen and Hyperbaric Oxygen Equipment, Electric Stimulation Devices, Pressure Relief Devices, Others), Application (Chronic, Diabetic Foot Ulcers, Pressure Ulcers, Venous Leg Ulcers, Others, Acute, Surgical & Traumatic Wounds, Burns), End User (Hospitals, Specialty Clinics, Home Healthcare, Others), and Region-Global Industry Trends, Estimation & Forecast, 2019 – 2024”.
As per the report, Global Wound Care Market was valued at US$ XX Bn in 2018 and it is anticipated to reach at market value of US$ 22.3 Bn by 2024, witnessing a CAGR of 4.2 % during the forecast period.
The upsurge in the frequency of chronic diseases such as diabetes, autoimmune diseases and surge in quantity of ambulatory surgical centers (ascs), and rising elderly populace to boost the global wound care market. The crucial facets boosting the wound care market consist of the increasing requisition for quicker retrieval of wounds, upsurge in the quantity of surgical procedures, and the growing occurrences of chronic ailments like diabetes. Furthermore, diabetes is found to be a serious wound causing ailment in consort with other chronic disorders. In grownups who are aged over 65 years, the populace having diabetes disorder is more than 25%. The prevalence of long-lasting wounds, particularly foot sores is rising amid the diabetic people. Whereas more than 80,000 adults are predicted to experience a lower extremity amputation. Consequently, the quantity of diabetic patients is estimated to rise with the growing aged populace that will power the development of the wound care market over the evaluation timeframe.
The Wound Care market is anticipated to register a CAGR of over 4.2 % during the forecast period.
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By Application, Chronic Segment of Global Drone Market Is Anticipated To Witness the Fastest CAGR during the Forecast Period
On the basis of application, the chronic segment is anticipated to witness the fastest growth in the wound care market over the forecast period owing to increasing cases of chronic diseases, especially diabetes, and rising geriatric population across the globe are major factors driving the segment.
By End User, Hospitals Segment of Global Wound Care Market Is Anticipated To Dominate during the Forecast Period
According to end-user global wound care market segmented into Hospitals, Specialty Clinics, Home Healthcare and Others, Hospital segment has largest share in market as Surgical wound care bandages and negative pressure wound therapy are mainly appropriate for hospital use and are not practicable for homecare.
North Americais Anticipated to Dominate the Global Wound Care Market during the Forecast Period
Geologically, North America is prominent in the international wound care market, in consequence of an increasing number of the elderly populace and rising of diabetic patients. North America holds the prevalent share of the wound care market and is estimated to display substantial development over the assessment period. Growing sports wounds, road mishaps, and the existence of numerous important companies in the region are estimated to power the wound care market in North America. Additionally, the accessibility of skillful specialists and development in healthcare set-up are estimated to fuel the wound care market over the evaluation timeframe.
Global Wound Care market was highly fragmented among the number of local and global players. Prominent players operating in the Global Wound Care Market are: DeRoyal Industries Inc., Medtronic PLC, ConvaTec Group PLC, DermaRite Industries LLC, Acelity L.P.Inc., Integra LifeSciences Holdings Corporation, Johnson & Johnson, Mo-Sci Corporation, Organogenesis Inc., Hollister Incorporated, Mölnlycke Health Care, Smith & Nephew PLC, and 3M Company.
Impact of COVID-19 on Economy, Industry and Company
The emergence of novel coronavirus has affected the global economy, industry dynamics and company’s top line. The entire ecosystem has to suffer the impact of this pandemic disease which would result in demand & supply gap, production delay and weak consumer demand of end products across industries.
At Bizizz Market Research, our analyst has done extensive research across industries and identified various methodologies which would assist C-Level executives to counter this ongoing threat and make informed business decisions.
Areas at which Bizizz Market Research would help decision makers are:
a) Insights on current demand & supply gap analysis
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d) In-depth analysis on market segmentation – both value and volume analysis
e) Market assessment, regional
and country attractiveness, competitive benchmarking
and entry strategy
f) Prioritizing strategies and
how it would impact company’s short to long-term business
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