Wound Care Centers Market Worth $49.4 Billion By 2026 | CAGR: 4.5%: Grand View Research, Inc.

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06 Nov, 2019, 10:05 GMT

SAN FRANCISCO, Nov. 6, 2019 /PRNewswire/ -- The global wound care centers market size is expected to reach USD 49.4 billion by 2026, expanding at a CAGR of 4.5%, according to a new report by Grand View Research, Inc. Growing prevalence of diabetic ulcers on a global scale, along with rising number of sports-related injuries, is expected to drive the market over the forecast period. In addition, growing awareness regarding the use of modernized wound care products is propelling the market.

Increasing number of road accidents is also anticipated to augment market demand. According to the Global Status Report on Road Safety 2018, approximately 1.35 million individuals die in road accidents every year. Road mishaps is the 8th leading cause of death for individuals across all ages. This number is expected to grow three times higher in low-income economies as compared to high-income economies.

Key suggestions from the report:

By type, the hospital segment led the global market owing to well-established healthcare facilities and growing patient pool in developed economies
The clinics segment is expected to grow considerably over the forecast period owing to high preference by patients in order to avoid hospital-acquired infections
Specialized dressings held the largest share in the market in 2018 due to growing introduction of new and effective products, such as biological skin products, skin substitute, and other complex dressing products
Asia Pacific is anticipated to be the fastest growing segment owing to increasing number of surgeries, rising healthcare expenditure, and awareness regarding wound care management among patients
Key players in the wound care centers market include Hologic, WoundTech, Oxyheal, Wound Care Advantage, Wound Care Specialists, RestorixHealth, Systagenix Wound Management, and Mölnlycke Health Care AB.

Read 120 page research report with ToC on "Wound Care Centers Market Size, Share & Trends Analysis By Type (Hospitals, Clinics), By Procedure (Specialized Dressings, Negative Pressure Wound Therapy, Compression Therapy), By Region, And Segment Forecasts, 2019 – 2026'' at: https://www.grandviewresearch.com/industry-analysis/wound-care-centers-market

Significant cost of wound care management is hampering the growth of the market. Wound care comprises direct healthcare cost, cost of actual dressing, and cost of applying the dressing or treating systemic infections, if any. Moreover, use of other medications in healthcare centers contributes to wound care. Hence, all these factors are anticipated to result in a higher price for patients.

Growing prevalence of type 1 and type 2 diabetes is also augmenting the demand for advanced wound dressing products in healthcare centers. On a global scale, approximately 425 million people suffered from diabetes mellitus in 2017, according to the International Diabetes Federation, and this number is expected to cross 628 million patients by 2045. Hence, this growing prevalence of diabetes is an opportunity for players to focus on more advancements in wound care management in healthcare centers.

North America accounted for the largest share in the wound care centers market in 2018 and is expected to retain its lead in the future as well. This can be attributed to high disposable income of consumers for treating pressure ulcers in healthcare centers as well as growing number of research and development activities in the region. Asia Pacific is anticipated to register the fastest growth over the forecast period owing to growing geriatric population prone to various disorders. Moreover, growing number of surgeries, increasing healthcare expenditure, and rising patient awareness is driving the wound care centers market.

Grand View Research has segmented the global wound care centers market based on type, procedure, and region:

Wound Care Centers Type Outlook (Revenue, USD Million, 2015 - 2026)

Hospitals
Clinics

Wound Care Centers Procedure Outlook (Revenue, USD Million, 2015 - 2026)

Debridement
Negative pressure wound therapy
Compression therapy
Hyperbaric oxygen therapy
Specialized dressings
Infection control

Wound Care Centers Regional Outlook (Revenue, USD Million, 2015 - 2026)

North America

U.S.
Canada

Europe

Germany
U.K.
France
Italy
Spain

Asia Pacific

Japan
China
India
·Australia
South Korea

Latin America

Mexico
Brazil
Argentina
Colombia

Middle East & Africa

South Africa
Saudi Arabia
UAE

Find more research reports on Medical Devices Industry, by Grand View Research:

Wound Care Market – The global wound care market size was valued at USD 18.4 billion in 2018 and is expected to exhibit a CAGR of 3.9% over the forecast period.
Wound Dressing Market – The global wound dressing market size was valued at USD 9.16 billion in 2014 and is expected to grow at a CAGR of 4.4% over the forecast period.
Bioactive Wound Care Market – The global bioactive wound care market was valued at USD 6.9 billion in 2015 and is expected to grow at a CAGR of 6.3% over the forecast period.

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About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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