Wound Care Products Market Report
Wound Care Products Market, Dynamics, and Market Analysis See less
Wound Care Products Market, Dynamics, and Market Analysis
The report on the Wound Care Products Market is segmented By Type (Collagen Products, Antimicrobial Dressings, Foam Dressings, Gauze, Hydrocolloids, Film Dressings, Other), By Application (Acute Wounds, Chronic Wounds, Surgical Wounds), By End User (Hospitals and Specialty Wound Care Clinics, Long Term Care Facilities, Home Healthcare), and Region - COVID-19 Impact Analysis and Forecast to 2026. This market research report provides in-depth information on trends, dynamics, revenue opportunities, competitive landscape, and recent developments in the global Wound Care Products market. The historic years considered for the study are 2016-2019, the base year is 2020, the estimated year is 2021, and the forecast period is 2022-2026.
The report on the Wound Care Products Market is segmented By Type (Collagen Products, Antimicrobial Dressings, Foam Dressings, Gauze, Hydrocolloids, Film Dressings, Other), By Application (Acute Wounds, Chronic Wounds, Surgical Wounds), By End User ...
The Wound Care Products Market is estimated to grow from USD 20.2 billion in 2020 to USD 27.0 billion by 2026 at a healthy CAGR of 5.1% during the forecast period.
Figure: Global Wound Care Products Market Size, 2020-2026 (USD Billion)
Wound care products are defined as products that help to heal wounds and control infection effectively. Some of the commonly used types of wound care products include collagen products, hydrocolloids, foam dressings, antimicrobial dressings, gauze, and film dressings among others. Wound care products are used to treat various types of wounds such as acute wounds, chronic wounds, and surgical wounds.
Key players operating in the global Wound Care Products market are-
The global market growth is primarily driven by increased spending on the healthcare industry coupled with rising geriatric populations. The increasing prevalence of chronic diseases such as diabetes and cardiovascular diseases among others due to busy lifestyles and unhealthy diets is expected to propel the market growth at a significant rate during the review period. Growing emphasis on the development of advanced wound care products by the key market players is likely to create lucrative market growth opportunities.
Based on end user, the market has been divided into hospitals and specialty wound care clinics, long term care facilities, and home healthcare. Hospitals and specialty wound care clinics accounted for the largest share in 2020 on account of widespread product usage and rising number of hospitals and clinics. The long term care facilities segment is likely to register healthy growth during the review period.
The market in Europe accounted for the largest share in 2020 due to the presence of an established healthcare industry and key market players such as Smith and Nephew Plc. (U.K). Additionally, the high demand for advanced wound care products coupled with the rising geriatric population in the developed markets is another factor fuelling the product demand. The market in the Asia-Pacific region is projected to register a healthy growth rate on account of high product in developing countries including India and China with increased spending on healthcare infrastructure development.
The market growth was affected when the governments across geographies-imposed lockdown as it resulted in trade restriction and supply chain disruptions. Also, many non-essential medical and surgical procedures including wounds treatment were put on a halt which affected the market growth. However, the continuous care of a chronic wound is essential to avoid any sort of infection. Thus, the demand for chronic wound care products was not affected to a greater extent as compared to other types of wounds.
The following is a list of the customers that the Wound Care Products market aims to convert the most:
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The wound care products market is expected to witness an impressive growth of 5.1% CAGR in the foreseeable future.
3M Health Care (The U.S), Smith and Nephew Plc. (UK), Integra Lifesciences Corporation (The U.S), Acelity L.P., Inc. (The U.S), Molnlycke Health Care (Sweden), ConvaTec, Inc. (The U.S), Organogenesis Inc. (The U.S), Coloplast Corp. (Denmark), Medline Industries, Inc. (The U.S), MPM Medical, Inc. (The U.S), Derma Sciences (The U.S) and Medtronic plc (Ireland) are the key players in the wound care products market.
The wound care products market size is expected to reach USD 27.0 billion in the coming years.
Europe accounted for the highest share in the wound care products market in 2020.
Increased spending on the healthcare industry coupled with rising geriatric populations, increasing prevalence of chronic diseases such as diabetes and cardiovascular diseases, growing emphasis on the development of advanced wound care products are the factors driving the growth of wound care products market.
Wound care products distributors, Wound care products suppliers, Wound care products manufacturers, Logistics organizations, Government Bodies are the target audience in the wound care products market.