Press release
Global Wound Care Product Market Is Anticipated to Reach 5.37% CAGR by 2023| Acelity L. P. Inc., Mölnlycke Health Care AB, 3M, ConvaTec Group Plc, Coloplast Group
The products available in the market for global wound care are designed to treat mostly complex wounds. Surgical wound care products are used to heal surgical wounds, primarily the infectious ones contracted in the hospital. The advanced wound care products are used to treat both acute and chronic wounds. The global wound care product market is expected to expand at an overall compound annual growth rate (CAGR) of 5.37% from 2018 to 2023, leading to global revenue of USD 23.2 billion by 2023.
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Depending on the various types of products available in the market, the global wound care product market has been classified into surgical wound care products, advanced wound care products, and traditional wound care products. Among the different product types, demand for advanced wound care is anticipated to be the most promising in the coming years. This is due to the increasing prevalence of chronic and acute wounds across all age groups, especially the baby boomers generation. Furthermore, the wound care product market is also classified on the basis of application into chronic wound care and acute wound care.
In addition, demand for wound care product from various end user segments, including hospitals and specialty care wound care clinics, long-term care facilities, and home healthcare, and are also provided in this report. Demand for wound care products market from the hospital and specialty care wound clinics held the largest market share in 2017 and is anticipated to maintain its dominance during the forecast period.
Moreover, the cross sectional analysis of all the above mentioned segments across different regions such as North America, Asia-Pacific, Europe, Latin America and the Middle East and Africa has also been considered within the scope of the research. Geographically, North America dominated the global wound care product market and was majorly driven by the U.S. in 2017.
Key growth factors
The wound care product market is predicted to witness a high growth rate owing to the rise in the geriatric population, surge in lifestyle related diseases, advancement of new technology, developments in wound care research area for advanced wound care products and the rising awareness about these products among consumers.
Factors such as rise in disposable income, better access to improved healthcare and increasing awareness about affordable advanced wound therapies are expected to support the growth of the advanced wound dressing market globally. Additionally, by the end user division, home healthcare is the fastest growing segment due to the significant rise in the aged population.
Threats and key players
Although the global wound care product market is expected to experience progressive growth, the high cost of wound care products, especially the advanced ones, hinders the growth of the market. There is also a lack of experts or trained healthcare professionals who can use these new advanced technologies.
Additionally, the average price of wound care products is expensive. Certain markets are price sensitive, and hence the acceptance of such products is comparatively less. The complex regulatory processes also restrict wound care products' penetration.
Some of the major players in the wound care industry are Smith & Nephew, Acelity L. P. Inc., Mölnlycke Health Care AB, 3M, ConvaTec Group Plc, Coloplast Group, etc.
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Table of Contents:
Chapter 1 Executive summary
1.1. Market scope and segmentation
1.2. Key questions answered in this study
1.3. Executive summary
Chapter 2 Global wound care product market overview
2.1. Global - market overview- market trends, market attractiveness analysis, geography wise market revenue (USD bn)
2.2. Global - market drivers
2.3. Value chain analysis - global wound care product market
Chapter 3 Global wound care product market - by types across different regions
3.1. Surgical wound care products - Growth drivers, Major Trend, Challenges, Historical (2015-2017) and forecasted (2018-2023) market size (USD Bn)
3.1.1. Surgical wound care products - North America -Historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), key observations, companies in this solution segment
3.1.2. Surgical wound care products - Europe - Historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), key observations, companies in this solution segment
3.1.3. Surgical wound care products - Asia-Pacific - Historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), key observations, companies in this solution segment
3.1.4. Surgical wound care products - Latin America- Historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), key observations, companies in this solution segment
3.1.5 Surgical wound care products - the Middle East and Africa- Asia-Pacific - Historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), key observations, companies in this solution segment
3.2. Advanced wound care products - Growth drivers, major trends, challenges, historical forecasted (2018-2023) market size (USD Bn)
3.2.1. Advanced wound care products - North America- Historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), key observations, companies in this solution segment
3.2.2. Advanced wound care products - Europe- Historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), key observations, companies in this solution segment
3.2.3. Advanced wound care products - Asia-Pacific- Historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), key observations, companies in this solution segment
3.2.4. Advanced wound care products - Latin America- Historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), key observations, companies in this solution segment
3.2.5. Advanced wound care products - The Middle East and Africa- Historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), key observations, companies in this solution segment
3.3. Traditional wound care product - Growth drivers, major trends, challenges, historical and forecasted (2018-2023) market size (USD Bn)
3.3.1 Traditional wound care product - North America- Historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), key observations, companies in this solution segment, end users
3.3.2 Traditional wound care product - Europe- Historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), key observations, companies in this solution segment, end users
3.3.3 Traditional wound care product - Asia-Pacific- Historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), key observations, companies in this solution segment, end users
3.3.4 Traditional wound care product - Latin America- Historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), key observations, companies in this solution segment, end users
3.3.5 Traditional wound care product - The Middle East and Africa- Historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), key observations, companies in this solution segment, end users
Continue…
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