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Global Wound Care Market Overview
"The Global Wound Care Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031."
The era of doctors or surgeons using catgut, cotton, silk, stainless, or nylon sutures on patients is losing preference in many developed and even some developing countries across the globe. The urgent need for more effective, safe, easy, and quick-to-use options due to the increasing number of road accidents and other natural or man-made calamities and events seems to have driven rapid innovation toward the development of more convenient products for application in the healthcare sector.
The need of the hour – during any emergency, surgery, or serious injury – are sutures and other products to halt blood loss rapidly and effectively in order to ensure the golden hour is not wasted and human lives are not lost. Surgeons of today have a broad range of products to choose from to close or seal wounds, cuts, post-surgery incisions, cosmetic or reconstructive surgery, and many others.
These include sutures, stapling devices, vascular clips, ligatures, and thermal devices, as well as a wide range of topical hemostats, surgical sealants, and glues.
Sales of dry bandages and dressings account for over 50% of the global chronic and severe wound care market revenue. Sutures and staplers & staples products contribute around 52% and 29% respectively in terms of value to the overall wound closure market. As some wounds may only require protection against infection, demand for traditional products remains relatively high currently in the healthcare sector across the globe.
The global wound closure market is currently at a mature stage and growth has been relatively slow owing to a lack of new product innovation in regard to this category. Revenue from the market in Asia is expected to continue to rise significantly into the future owing to factors such as the increasing aging population, rising incidence of chronic and other age-related diseases, and low disposable income.
Other factors driving demand for wound closure products include a growing geriatric population, increasing volume of surgeries, rising number of road accidents and incidence of chronic wounds, and the growing number of burn cases.
The market in North America is dominating the global wound closure market. Reimbursement schemes by governments in countries in this region are driving the growth of the wound closure market. Physicians and surgeons prefer simple tissue adhesives or dressing to treat less serious wounds or injuries, and also may opt for less labor-intensive and cheaper options.
In addition, Asia Pacific is expected to witness high growth in terms of revenue owing to the high prevalence of diabetes and surgical wounds, raising awareness, and the increasing geriatric population in this region.
Primary factors hampering market growth include the high cost of wound closure products, complex technical requirements for utilization of wound closure products, and availability of alternative wound care products.
Global Wound Closure Market Segmentation:
Global wound care market segmentation by product:
- Advanced Wound Management Products
- Advanced Wound Dressings
- Foam dressings
- Hydrocolloid dressings
- Film dressings
- Alginate dressings
- Hydrogel dressings
- Collagen dressings
- advanced dressings
- Therapy Devices
- Pressure relief devices
- Negative pressure wound therapy (NPWT)
- Conventional NPWT
- Disposable NPWT
- Oxygen and hyperbaric oxygen equipment
- Electrical stimulation devices
- Other therapy devices
- Active Wound Care
- Artificial skin and skin substitutes
- Topical agents
- Advanced Wound Dressings
- Surgical Wound Care
- Sutures and Staples
- Tissue Adhesives, Sealants, & Glues
- Fibrin-based sealants
- Collagen-based sealants
- Synthetic adhesives/glues
- Anti-infective Dressings
- Traditional/Basic wound care
- Medical tapes
- Dressings
- Cleansing agents
Global wound care market segmentation by wound type:
- Chronic Wounds
- Diabetic foot ulcers (DFU)
- Pressure ulcer
- Venous leg ulcer
- Other chronic wounds
- Acute Wounds
- Surgical & traumatic wounds
- Burns
Global wound care market segmentation by end-user:
- Hospitals and Specialty Wound Clinics
- Inpatient settings
- Outpatient settings
- Long-term Care Facilities
- Home Healthcare
Global wound care market segmentation by region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn - Advanced Wound Management Products
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- 3M Company
- Medtronic plc
- Smith and Nephew plc
- DeRoyal Industries Inc.
- CryoLife Inc.
- Pfizer Inc.
- Derma Sciences Inc.
- Johnson and Johnson
- Braun Melsungen AG
- Baxter International Inc.
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