DUBLIN--(BUSINESS WIRE)--The "Wound Care Market by Product (Foams, Hydrocolloids, Alginates, Antimicrobial Dressings, Assessment, NPWT Devices, Substitutes, Sutures, Staples, Tapes), Wound (Surgical, Trauma, Diabetic Ulcers, Burns), End-User, Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The Global Wound Care Market is Projected to Reach USD 24.8 Billion by 2024 from USD 19.8 Billion in 2019, Growing at a CAGR of 4.6% from 2019 to 2024.
The growth of the industry is driven primarily by factors such as rising incidences of road accidents & injuries, growing use of regenerative medicine, and increasing prevalence of conditions that impair wound healing capabilities.
Increasing research in the field of advanced wound care and the growing popularity of active wound care products will further provide opportunities in the wound care industry. Developing economies are expected to offer a wide range of growth opportunities for players in the market.
Advanced wound care products accounted for a significant share of the market in 2019
Based on the product, the wound care market is segmented into advanced wound care, surgical wound care, and traditional wound care products. Advanced wound care products are anticipated to be the fastest-growing segment due to the rising incidence of hard-to-heal wounds and their growing adoption (due to their high efficacy).
Diabetic foot ulcers segment accounted for the largest share of the wound care market in 2019
Based on wound type, the wound care market is segmented into diabetic foot ulcers, pressure ulcers, surgical & traumatic wounds, venous leg ulcers, burns, and other wounds. Of these, the diabetic foot ulcers segment is expected to account for the largest share of the wound care market due to increased emphasis on aggressive management to prevent diabetic foot ulceration and foot amputation, using advanced and active wound care products.
Home settings segment accounted for the highest CAGR of the wound care market in 2019
Based on end-user, the wound care market is categorized into hospitals & clinics, long-term care facilities, and home care settings. Of all these end-user segments, home settings will grow at the fastest CAGR in the wound care market in 2019. The high growth of the home care settings segment is attributed to the growing incidence of chronic diseases and the rising need for comfortable and convenient care services among the rapidly growing geriatric population worldwide.
North America dominated the wound care market in 2019
North America, which includes the US, and Canada, accounted for the largest share of the wound care market. The rising incidence of diabetes, growing geriatric population, the presence of major manufacturers in the region, and easy access & rapid adoption of advanced products and technologies are driving the growth of this region.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Wound Care Market, By Product
7 Wound Care Market, By Type
8 Wound Care Market, By Condition
9 Wound Care Market, By End User
10 Wound Care Market, By Region
11 Competitive Landscape
12 Company Profiles
- 3M Company
- Acelity L.P. Inc.
- Baxter International Inc.
- Coloplast A/S
- Convatec Group PLC
- Ethicon Inc. (Subsidiary of Johnson & Johnson)
- Integra Lifesciences Holdings Corporation
- Medtronic PLC
- Mlnlycke Health Care AB (A Subsidiary of Investor AB)
- Smith & Nephew PLC
For more information about this report visit https://www.researchandmarkets.com/r/zg3z2v