Wound Care Market | Ongoing Trends and Recent Developments | Major Key Players like Acelity L.P. Inc. (US), Smith & Nephew plc (UK), Mölnlycke Health Care AB (Sweden), ConvaTec Group Plc (UK), Baxter International Inc. (US)

The Factors driving the growth of this Wound Care Market include the increasing prevalence of chronic wounds and acute wounds, increasing aged population, rising R&D activities and advancement in the field of wound care research, rising number of road traffic accidents globally, and the increasing awareness about wound care treatment and management through awareness programs.

What the Wound Care Market Looks Like?

Predicted to grow at a CAGR of 3.7% during the forecast period, the global Wound Care Market is estimated to reach USD 22.81 billion by the end of 2022. North America is estimated to command the largest share of the market

On the basis of product type, the Wound Care Market is classified into advanced wound management products, surgical wound care products, and traditional wound care products. Advanced wound management products are expected to lead the global Wound Care Market in 2017. Factors driving the growth of this segment include the increasing incidence of diabetes and the rising demand for innovative and advanced wound management products.

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By the type of wound, the market is bifurcated into chronic wounds and acute wounds. The chronic wounds segment is anticipated to account for the largest share of the global Wound Care Market. Factors such as the increasing geriatric population and the rising incidence of diabetic foot ulcers, pressure ulcers, and other types of chronic wounds, are driving the growth of this market.

What Drives the Wound Care Market?

The growth of the global market for Wound Care is primarily influenced by the following factors:

• Growing Prevalence of Diabetes
• Rapid Growth in the Geriatric Population
• Developments and Innovations in these Products
• Increasing Funding for Research
• Increasing Number of Road Accidents and Trauma Injuries Globally
• Awareness Programs for Wound Care Treatment and Management

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Geographical growth scenario of Wound Care Market:

Based on the region, the Wound Care Market is segmented into North America, Europe, Asia Pacific, and Rest of the World (RoW). North America is expected to dominate the Wound Care Market in 2017, this is attributed to factors like increasing research activities in the field of wound care and rising governmental investment for wound care research in the region as compared to other regions.
Leading Wound Care Market players and strategies adopted:

The prominent players in the Wound Care Market Acelity L.P. Inc. (US), Smith & Nephew plc (UK), Mölnlycke Health Care AB (Sweden), ConvaTec Group Plc (UK), Baxter International Inc. (US), Coloplast A/S (Denmark), BSN medical GmbH (Germany), Organogenesis Inc. (US), DeRoyal Industries, Inc.(US), IonMed (Israel), Ethicon, Inc. (US), Medtronic plc (Ireland)

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Acelity L.P. Inc. (US) dominated the negative pressure wound therapy devices (NPWT) devices market in 2016. It is an innovation-centric company that develops new products by identifying the unmet needs of patients and caregivers. Its subsidiary, Kinetic Concepts, Inc. (KCI), a robust portfolio of NPWT devices, which includes V.A.C.Ulta, VeraFlo, InfoV.A.C, ActiV.A.C., and V.A.C.Via. The company is a pioneer in NPWT devices and has a market presence of more than 15 years, which provides it a competitive edge over other players.

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