Wound Care Market

Wound Care Market Size, Share, Growth Analysis, By Product (Advanced Wound Dressing, Surgical Wound Dressing), By End Use (Hospital, Home Healthcare), By Application (Chronic Wound, Acute Wound), By Region -Industry Forecast 2024-2031

Report ID: SQMIG35A2900 | Region: Global | Published Date: September, 2024
Pages: 201 | Tables: 91 | Figures: 69

Wound Care Market News

  • In June 2023, JeNaCell launched their epicite balancing wound dressing in the German market. The dressing is particularly ideal and adapted for the management of chronic wounds that have low to medium levels of discharges.
  • In January 2023, Convatec Group PLCintroduced the Convafoam, a unique foam dressing. It can be utilized in different kinds of wounds and at any stage, making it a simple dressing option.
  • In April 2024, Mölnlycke Health Care AB announced their agreement to P.G.F. Industry Solutions GmbH. This company is a manufacturer of Granudacyn wound cleansing and moisturizing solutions.
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Global Wound Care Market size was valued at USD 12.4 Billion in 2022 and is poised to grow from USD 13.18 Billion in 2023 to USD 16.32 Billion by 2031, growing at a CAGR of 3.1 % in the forecast period (2024-2031).

The wound care market is extremely dynamic as key players are constantly engaging in different initiatives for maintaining their competitive edge and boosting growth. This initiative consists of a varied range of activities like research and development efforts for developing advanced medical devices and pharma and medical solutions. These devices and solutions can fulfil the medical requirements and increase profit margin with growing therapeutics opportunities. Many companies are also concentrating on increasing their global presence with strategic collaborations and acquisitions to increase product portfolios and improve their position in the market. 'Smith & Nephew', 'Mölnlycke Health Care AB', 'ConvaTec Group PLC', 'Ethicon (Johnson & Johnson)', 'Baxter International', 'URGO Medical', 'Coloplast Corp.', 'Medtronic', '3M', 'Derma Sciences Inc. (Integra LifeSciences)', 'Medline Industries', 'Advancis Medical', 'B. Braun Melsungen AG'

Bioactive therapies consist of skin substitutes and help in skin growth. This therapy is becoming immensely popular among medical professionals, especially for the treatment of last-stage wounds. Many companies are presently venturing the market by emphasizing on allograft, xenograft, nanofiber, dermal substitutes, and cell-based therapies. These solutions are successfully fulfilling the rising demand for urgent and efficient wound management therapies among patients.

Increasing Advancements in Wound Care Market - In recent times, there has been a rapid advancement in the wound care market. Many companies are presently venturing the market by emphasizing on dermal substitutes and cell-based treatments for immediate and efficient wound management. Small and medium-sized companies along with startups are focusing on R&D to bring innovative devices to the market. Key market players are also engaging in acquisition and investing in technologies for developing advanced products.

North America is dominating the wound care market with the largest market share. The growth of this market in North America is primarily due to an amalgamation of factors. The region benefits from innovative medical structure, increasing incidences of chronic diseases that need wound care, and constant activities on research and development. Furthermore, well-established reimbursement policies and strict regulatory settings are contributing to the increasing adoption of advanced wound care solutions, The growth of the market in North America is further amplified by a robust emphasis on technological development and rising awareness about better healthcare among patients and medical professionals. The rise in aging population is also increasing the requirement for wound care, propelling the growth of wound care market.

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Wound Care Market

Report ID: SQMIG35A2900

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