The global wound care market is projected to reach USD 24.8 billion by 2024 from USD 19.8 billion in 2019, at a CAGR of 4.6% from 2019 to 2024. The emerging economies such as India, China, and Brazil are expected to provide a wide range of opportunities for players in the industry, which is driven by growing healthcare infrastructure, increasing diabetic population, vast population pool, in and the increasing healthcare spending.
“Advanced wound care products accounted for the largest market share in 2019”
The advanced wound care products segment dominated this market in 2019. This segment is expected to have the highest growth as well. Factors attributing for their growth are rising incidence of hard-to-heal wounds and their growing adoption (due to their high efficacy) and reducing the risk of infections in the wound.
“Asia Pacific to grow at the highest rate during the forecast period (2019–2024)”
The wound care market in Asia Pacific is expected to grow at a high pace in the coming years. The factors attributing for the high growth of the Asia Pacific region, rising geriatric population, a growing number of surgeries, increase in healthcare expenditure, expansion of the healthcare infrastructure, and vast patient pool. However, the North American and European markets will account for a large share due to mature economies and the presence of major players in the region.
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Key Market Players
The major players operating in the wound care market are Smith & Nephew plc (UK), , Ethicon, Inc. (A Subsidiary of Johnson & Johnson) (US), Convatec Group Plc (UK), Baxter International Inc. (US), Coloplast A/S (Denmark), Paul Hartmann AG (Germany), Medtronic plc (Ireland), 3M Company (US), and Integra LifeSciences Holding Corporation (US).
Major companies such as Smith & Nephew plc (UK), Acelity L.P. Inc. (US), and Mölnlycke Health Care AB (Subsidiary of Investor AB) (Sweden) have a robust product portfolio. These companies have established wound care products such as PICO by Smith & Nephew plc, Mepilex by Mölnlycke Health Care AB, and ACTISORB by Acelity L.P. Inc., which have a prominent presence in the market. Coupled with the global distribution network and partnerships, which exists for these players, they will have a prominent share in the market during the forecast period.
“Advanced wound care products accounted for the largest market share in 2019”
The advanced wound care products segment dominated this market in 2019. This segment is expected to have the highest growth as well. Factors attributing for their growth are rising incidence of hard-to-heal wounds and their growing adoption (due to their high efficacy) and reducing the risk of infections in the wound.
“Asia Pacific to grow at the highest rate during the forecast period (2019–2024)”
The wound care market in Asia Pacific is expected to grow at a high pace in the coming years. The factors attributing for the high growth of the Asia Pacific region, rising geriatric population, a growing number of surgeries, increase in healthcare expenditure, expansion of the healthcare infrastructure, and vast patient pool. However, the North American and European markets will account for a large share due to mature economies and the presence of major players in the region.
Download PDF Brochure : https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=371
Key Market Players
The major players operating in the wound care market are Smith & Nephew plc (UK), , Ethicon, Inc. (A Subsidiary of Johnson & Johnson) (US), Convatec Group Plc (UK), Baxter International Inc. (US), Coloplast A/S (Denmark), Paul Hartmann AG (Germany), Medtronic plc (Ireland), 3M Company (US), and Integra LifeSciences Holding Corporation (US).
Major companies such as Smith & Nephew plc (UK), Acelity L.P. Inc. (US), and Mölnlycke Health Care AB (Subsidiary of Investor AB) (Sweden) have a robust product portfolio. These companies have established wound care products such as PICO by Smith & Nephew plc, Mepilex by Mölnlycke Health Care AB, and ACTISORB by Acelity L.P. Inc., which have a prominent presence in the market. Coupled with the global distribution network and partnerships, which exists for these players, they will have a prominent share in the market during the forecast period.
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