Wound Care Market Trends, Revenue, Major Players, Share Analysis & Forecast Till 2027
The wound
care market is expected to register a CAGR
of 6.99% during the forecast period.
MRFR
recognizes the following companies as the key players in the global wound care
market— B. Braun Melsungen AG (Germany), 3M (US), Baxter International Inc.
(US), Johnson & Johnson Services, Inc. (US), Smith & Nephew (UK),
ConvaTec Group Plc (UK), Cardinal Health, Inc. (US), Medtronic Plc (Ireland),
Coloplast Corp. (Europe) and Avery Dennison Corporation (US)
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Market
Highlights
The
global wound care market is expected to register a CAGR of6.99% during the
forecast period and is expected to hit USD 31,657.06 million by 2027.
The key
factors that drive the global wound care market are the rising number of
patients suffering from acute and chronic wounds. An increasing geriatric
population susceptible to chronic wounds is supporting the growth of this
market. Moreover, favorable reimbursement scenario and increasing number of
product launches are anticipated to increase the global wound care market size.
However, side-effects associated with products and complications associated
with surgical wounds are anticipated to hamper the market growth.
Segment
Analysis
The global
wound care market is mainly segmented into product type, wound type,
application and end user. On the basis of product type, the wound care market
has been sub-segmented into advanced wound management products, wound therapy
devices, traditional wound care products, wound care products and active wound
care products. On the basis of wound type, the wound care market has been
segmented into chronic wound and acute wound. On the basis of application, the
wound care market has been segmented into surgical wound, ulcer, burn and
trauma wounds. On the basis of end user, the wound care market has been
segmented into hospitals, clinics, home healthcare and trauma centers.
Regional
Analysis
The global
wound care market has been segmented on the basis of region into Americas,
Europe, Asia-Pacific, and the Rest of the World. The North American market is
further divided into the US and Canada. The European wound care market has been
segmented into Germany, France, the UK, Italy, Spain, and the rest of Europe.
The wound care market in Asia-Pacific has been segmented into China, India,
Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the
World wound care market includes the Middle East, Africa, and Latin America.
The
Americas wound care market accounted for USD 19,895.90 million in 2020 and is
projected to grow at a CAGR of 6.99% during the forecast period. The Americas
is divided into North America and South America. North America is further
segmented into the US and Canada. The increasing patient pool with acute or
chronic wounds and rising diabetic population prone to wounds are driving the
growth of the market in this region. According to Scientific Electronic Library
Online, in Brazil, an increase in the aging population affects health care
systems since it is accompanied by an increase in the prevalence of diseases
and chronic diseases. Pressure injuries, diabetic ulcers, and chronic
vasculogenic ulcers are more frequent and tend to be associated with common
diseases in the geriatric population. Thus, the increasing prevalence of wounds,
rising geriatric population, and increasing diabetes patients with wounds are
the key factors driving the growth of the wound care products market in the
region.
The wound
care market in Europe is expected to propel during the forecast period, owing
to rising government initiatives, increasing awareness among healthcare
providers regarding wound care, and the rising prevalence of wounds. The market
in Europe is segmented into Western Europe and Eastern Europe. Western Europe
is further segmented into Germany, France, the UK, Italy, Spain, and the rest
of Western Europe. According to the Journal of Community Medicine, in 2018,
approximately 4.5% or 22 million people in the UK are expected to have a wound
per year. There were an estimated 3.8 million patients
with a wound managed by the National Health Service, the UK, in 2017/2018. An
increasing geriatric population is anticipated to increase the number of
patients prone to wounds. According to The Office for National Statistics,
between 2018 and 2028, the number of people aged 75 to 84 years in England is
projected to increase by 33.9%, and aged 85 years and over by 22.8%.
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