- The growth of the market is attributed to the growing number of accidents leading to traumatic disorders and increasing incidences of chronic diseases with complications
- Market Size – USD 1.50 Billion in 2019, Market Growth - CAGR of 3.5%, Market Trends – Growing awareness of wound cleanser products in developing economies
VANCOUVER, BC, Oct. 28, 2020 /PRNewswire/ -- The Global Wound Cleanser Products Market will be worth USD 1.97 billion by 2027, according to the latest analysis by Emergen Research. The sector has been growing at a considerable pace because of the growing demand for accurate and dependable wound care products to treat both acute and chronic wounds. Additionally, the market is projected to witness a progressive growth curve over the forecast span. It is expected to leverage the increasing penetration of cutting-edge advanced wound care therapies across developing economies.
The rise in the prevalence of critical wounds, the growing number of cases surrounding burns, traumas, and different surgeries along with the increasing disposable income of consumers coupled with the rising awareness of the requirement for the diagnosis of complex wounds, are the key drivers of the wound cleanser products market. The steep rise in the per capita disposable incomes across all developed economies and the affordability of high-end products in developing economies also contribute positively to the growth of the market.
The market growth is additionally fuelled by rising risk factor rates and the requirement for cost-effective treatments. The increasing preference for e-commerce channels for procuring different variants of wound cleansing products because of the convenience provided by this mode of commerce across developed economies is becoming a trend over the recent past. Major product manufacturers are undertaking cross-industry collaborations with e-commerce companies in order to get the most out of the trend.
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Key Highlights From The Report
- In August 2020. GIGA Fine Chem, based out of Taiwan, launched ZigaBio E-34, which is a multi-functional and structurally synthesized green algae. It maintains its stability in air and room temperature and is expected to be integrated actively in cosmetic and skincare products as a potential wound cleanser.
- The wipes segment was valued at USD 14.49 billion in 2019 and is anticipated to capture a considerable market share over the forecast period. This can be attributed to its ease of usage among consumers. Although the affordability and availability is still a concern, yet it is likely to get sorted over the coming years.
- Over the forecast period, the hospitals segment is expected to hold a prominent share in the overall wound cleanser products market because of the increasing prevalence of chronic wounds across inpatient settings, especially in ICU. The homecare settings segment is expected to grow at a CAGR of around 3.2%, especially across the developed economies owing to the increasing geriatric population and growing health care infrastructure and support.
- In 2019, North America held the most prominent share of the market mainly, followed by Europe. This is because, over the recent past, there has been an increasing number of people suffering from chronic health disorders. Around 27 million people in the U.S. had diabetes, with a prevalence rate of 11%, as per the International Diabetes Federation, in 2019. The new entrants in the market are bringing forth innovative products in wound care in the U.S.
- Key participants include Coloplast Group, Smith & Nephew plc., B. Braun, Melsungen AG, Johnson & Johnson Services Inc., Derma Sciences Inc., Molnlycke Healthcare, and Medtronic Plc., and Reckitt Benckiser Group plc. among others.
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For the purpose of this report, Emergen Research has segmented the Global Wound Cleanser Products Market on the product type, form type, end-user, and region:
- Product Type Outlook (Revenue, USD Billion; 2017-2027)
- Wetting Agents
- Form Type Outlook (Revenue, USD Billion; 2017-2027)
- End-User Outlook (Revenue, USD Billion; 2017-2027)
- Ambulatory Surgery Centers
- Pharmacies and Clinics
- Homecare Settings
- Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- Rest of Europe
- South Korea
- Rest of APAC
- Rest of LATAM
- Saudi Arabia
- Rest of MEA
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