The wound care market offers a wide range of products
such as wound dressings, wound cleansing agents, moisturizers, wound management
devices and others. These products play a crucial role in healing wounds by
protecting them from external contaminants and maintaining a moist environment
to facilitate wound healing. The increasing incidence of chronic disorders such
as diabetes, growing geriatric population and rising road accidents and trauma
cases globally are some of the key factors driving the demand for advanced
wound care products.
The
global wound care market is estimated to be valued at US$ 25739.26 Bn in 2024
and is expected to exhibit a CAGR of 12% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the wound care market are Novozymes (Denmark)UPL
(India)Chr. Hansen Holding A/S (Denmark)Syngenta (Switzerland)T.Stanes and
Company Limited (India)Lallemand Inc. (Canada)Rizobacter Argentina S.A.
(Argentina)Vegalab SA (Switzerland)IPL Biologicals Limited (India)Kiwa
Bio-Tech, product group cooperation (China)Symborg (Spain)Kan Biosys
(India)Mapleton Agri Biotec Pt Ltd (Australia)Seipasa (Spain)Agrilife (India).
The global market is anticipated to witness lucrative growth opportunities due
to the rising adoption of advanced wound care products for home healthcare
settings and increasing product pipeline for complex wound management. The key
players are focusing on geographical expansion strategies especially in high
growth regions such as Asia Pacific, Middle East and Latin America to tap the
untapped market potential.
Market Drivers:
Increasing prevalence of chronic diseases such as diabetes that delay wound
healing is a major factor driving the Wound
Care Market Demand. According to International Diabetes Federation, over
537 million adults aged 20-79 years were living with diabetes in 2021 across
the globe and it is projected to rise to 643 million by 2030. Diabetic wounds
require advanced wound care products for efficient healing.
Market Restrains:
High cost of advanced wound care products is a major challenge restricting
the market penetration, especially in low and middle-income countries. Advanced
dressings containing growth factors, skin substitutes and devices significantly
add to the overall treatment cost. Reimbursement concerns related to wound care
therapies further deter their adoption in developing nations.
Segment Analysis
The wound care market is segmented into advanced wound care, traditional
wound care, and others. Advanced wound care dominates the market and accounts
for over 50% share of the total market. Advanced wound care products are
preferred more as they promote faster healing of complex wounds. Within
advanced wound care, wound care dressings constitute the largest segment.
Factors like rising prevalence of chronic diseases and increase in number of
accidents are driving demand for wound care dressings. Therapeutic dressings is
another fast growing segment in advanced wound care due to its ability to
absorb wound exudates and maintain a moist environment for healing.
Global Analysis
North America dominates the global wound care market with over 35% share.
Factors contributing to its leading position include high awareness about
advanced treatment options, presence of sophisticated healthcare
infrastructure, and favorable reimbursement policies. Europe is the second
largest market supported by increasing geriatric population suffering from
chronic wounds. Asia Pacific is projected to be the fastest growing region
during the forecast period credited to rising medical tourism, growing income
levels, and increasing focus of key players to tap potential countries. China,
India, and Japan are emerging as major markets in Asia Pacific wound care
market due to growing patient pool of diabetes and other chronic diseases.
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more insights on Wound
Care Market
About Author:
Money Singh is a seasoned content writer with over
four years of experience in the market research sector. Her expertise spans
various industries, including food and beverages, biotechnology, chemical and
materials, defense and aerospace, consumer goods, etc. (https://www.linkedin.com/in/money-singh-590844163)
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