CHICAGO, April 11, 2019 /PRNewswire/ -- According to the new market research report "Wound Care Market by Product (Advanced (Foam, Alginate, Hydrogel, NPWT, Active), Surgical, Traditional), Type (Chronic (Diabetic Foot, Pressure Ulcer), Acute (Burn, Trauma)), End User (Hospital, Long-term Care, Home Healthcare) - Global Forecast to 2022", published by MarketsandMarkets™, the Wound Care Market is expected to reach USD 22.81 billion by 2022 from USD 18.35 billion in 2017, at a CAGR of 3.7%.
Factors driving the growth of this market include the increasing prevalence of chronic wounds and acute wounds, increasing aged population, rising R&D activities and advancement in the field of wound care research, rising number of road traffic accidents globally, and the increasing awareness about wound care treatment and management through awareness programs.
Advanced wound management products are estimated to account for the largest market share in 2017
On the basis of product type, the Wound Care Market is classified into advanced wound management products, surgical wound care products, and traditional wound care products. Advanced wound management products are expected to lead the global Wound Care Market in 2017. Factors driving the growth of this segment include the increasing incidence of diabetes and the rising demand for innovative and advanced wound management products.
The chronic wounds segment is estimated to dominate the market in 2017
By the type of wound, the market is bifurcated into chronic wounds and acute wounds. The chronic wounds segment is anticipated to account for the largest share of the global Wound Care Market. Factors such as the increasing geriatric population and the rising incidence of diabetic foot ulcers, pressure ulcers, and other types of chronic wounds, are driving the growth of this market.
By end user, hospitals and specialty wound care clinics are estimated to command for the largest share of the market during the forecast period
On the basis of end users, the Wound Care Market is categorized into hospitals and specialty wound care clinics, long-term care facilities, and home healthcare. The hospitals and specialty wound care clinics segment is estimated to account for the largest share of the global Wound Care Market. Increasing patient admissions for the treatment of chronic wounds, rising incidence of diabetes, and improving hospital infrastructure in developing countries are key factors driving the growth of this end-user segment.
North America is estimated to command the largest share of the market
Based on region, the Wound Care Market is segmented into North America, Europe, Asia Pacific, and Rest of the World (RoW). North America is expected to dominate the Wound Care Market in 2017, this is attributed to factors like increasing research activities in the field of wound care and rising governmental investment for wound care research in the region as compared to other regions.
Key players in the Wound Care Market include Acelity L.P. Inc. (US), Smith & Nephew plc (UK), Mölnlycke Health Care AB (Sweden), ConvaTec Group Plc (UK), Baxter International Inc. (US), Coloplast A/S (Denmark), BSN medical GmbH (Germany), Organogenesis Inc. (US), DeRoyal Industries, Inc.(US), IonMed (Israel), Ethicon, Inc. (US), Medtronic plc (Ireland), 3M Company (US), Hill-Rom Holdings, Inc. (US), Paul Hartmann AG (Germany), NovaBay Pharmaceuticals, Inc. (US), Derma Sciences, Inc. (US), Vivostat A/S (Denmark), Wound Care Technologies, Inc. (US), Leap Therapeutics Inc. (US), Hematris Wound Care GmbH (Germany), Alliqua BioMedical, Inc. (US), LayerBio Inc. (US) Triage Meditech Pvt. Ltd (India), and Fidia Pharma USA Inc. (US).
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