Global Traditional Wound Management Market

Traditional Wound Management Market Size, Share, Growth Analysis, By Product(Gauze, Bandage, Cotton, Others), By Application(Acute wound, Chronic Wound), By End-User(Hospitals & Clinics, Home Healthcare, Ambulatory Surgical Centers, Other), By Region - Industry Forecast 2024-2031

Report ID: SQMIG45E2158 | Region: Global | Published Date: March, 2024
Pages: 197 | Tables: 91 | Figures: 76

Traditional Wound Management Market News

  • Smith & Nephew introduced the REGENTEN Bio-inductive implant in India in July 2023. By encouraging the body's natural healing process and promoting the development of tendon tissue, the implant is intended to treat wounds.

  • Baxter International Inc. introduced the Progressa+ Next Gen ICU Bed in June 2023 to help with the needs of providing complex and critical care. It considers the necessity of providing patients with critical care, particularly wound care.
  • In May 2023, 3M launched Spunlace, an extended-wear adhesive tape solution.
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Traditional Wound Management Market size was valued at USD 6.5 billion in 2022 and is poised to grow from USD 6.76 billion in 2023 to USD 9.25 billion by 2031, growing at a CAGR of 4% in the forecast period (2024-2031).

The competitive landscape of the traditional wound management market is marked by the presence of a diverse array of companies vying to address the complex demands of wound care. Established medical device manufacturers, pharmaceutical giants, and specialized wound care companies are key contenders in this dynamic arena. These players compete to provide a comprehensive range of wound management products, including dressings, bandages, antiseptics, and other essential solutions. '3M (US)', 'ConvaTec Group PLC (UK)', 'DermaRite Industries LLC (US)', 'DeRoyal Industries, Inc. (US)', 'Hollister Incorporated (US)', 'Integrif Industries, LLC (US)', 'Coloplast A/S (Denmark)', 'Medtronic plc (Ireland)', 'Mölnlycke Health Care AB (Sweden)', 'Paul Hartmann AG (Germany)', 'Smith & Nephew plc (UK)', 'B. Braun Melsungen AG (Germany)', 'Johnson & Johnson (US)', 'Paula's Choice Skin Care (US)', 'Derma Sciences, Inc. (US)', '3M Nexcare (US)', 'Urgo Medical (France)', 'Curad (US)', 'Medinex (US)', 'Kinetic Concepts, Inc. (US)'

The increasing prevalence of chronic diseases such as diabetes, cardiovascular diseases, and obesity is a primary driver of the traditional wound management market. Chronic conditions often lead to slow-healing wounds, creating a sustained demand for wound care products.

Shift towards Advanced Wound Care: While the traditional wound management market remains significant, there's a growing trend toward advanced wound care products and techniques. Innovations such as bioactive dressings, growth factors, and negative pressure wound therapy are gaining traction for their enhanced healing properties.

In the year 2022, North America emerged as the dominant force in the industry, commanding a substantial revenue share exceeding 45.00%. This ascendancy is largely attributed to a convergence of factors that underscore the region's integral role in the wound care landscape. A notable surge in cases related to sports injuries, road accidents, and the escalating prevalence of chronic diseases distinctly propel the demand for wound care solutions within the North American expanse. The demographic dynamic plays a significant role, as the geriatric population, vulnerable to wound-related concerns, contributes notably to the product demand. A tangible manifestation of this lies in statistics provided by the Administration for Community Living, which revealed that the percentage of individuals aged 65 and above reached 54.1 million in 2019, constituting a significant 16% of the overall population. Additionally, the region's robust healthcare infrastructure, coupled with a wealth of skilled professionals, augments its capacity to cater to diverse wound care requirements, further propelling the demand for products.

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Global Traditional Wound Management Market

Report ID: SQMIG45E2158

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