Wound Care Market Trends Growth Future Demand Analysis and Forecast by 2028

The "Wound Care Market" is expected to reach US$ 26,994.01 million by 2028 from US$ 19,350.76 million in 2022; it is estimated to record a CAGR of 5.7% from 2022 to 2028.

Increase in the number of wounds and surgical procedures and rise in new product launches and strategic collaborations are among the key factors driving the wound care market growth. However, surge in product recalls & high cost of wound care hinder the wound care market growth. The significantly growing incidence of road traffic injuries and the rising prevalence of chronic diseases and related wounds compelled medical device manufacturers to develop and launch new products and obtain regulatory approvals for them.

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Companies Profiled in this report includes:

• Smith & Nephew
• Ethicon USA LLC
• Convatec Group Plc
• BAXTER International Inc.
• COLOPLAST AS
• Paul HARTMANN AG
• MEDTRONIC PLC
• 3M COMPANY
• MIMEDX
• Integra LifeSciences Holdings Corporation

Type Insights - Wound Care Market

The wound care market, by product is segmented into advanced wound dressing, surgical wound care, traditional wound care, and wound therapy devices. The advanced wound dressing segment held the largest market share in 2022 and is anticipated to register the highest CAGR during 2022-2028. Advanced wound dressings are used to treat hard-to-heal wounds. Generally, these wounds are caused or are the common side-effects of pressure ulcers, obesity, diabetes, and age-related vascular diseases. The incidences of chronic wounds are growing exponentially worldwide. As a result, the financial burden of wounds on healthcare services has increased and provoked technical advancements for advanced wound dressing.

Technological advancements have enabled the use of suitable materials for wound dressings that can treat different wound types. The materials used for dressings are derived from animals and herbs. Many dressings are also made of alginate, hydrogel, hydrocolloid, and synthetic materials. The advancements in medicated dressings can rapidly heal hard-to-heal wounds. These dressings help to provide moisture to the wound and protect it against infections.

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Wound Care Market Segmentation:

By Product:
• Advanced Wound Dressing
• Surgical Wound Care
• Traditional Wound Care
• Wound Therapy Devices

By Wound Type:
• Chronic Wounds
• Acute Wounds

By End User:
• Hospitals
• Specialty Clinics
• Home Healthcare

End User Insights - Wound Care Market

Based on end user, the global wound care market is segmented into hospitals, specialty clinics, home healthcare, and others. The hospitals segment held the largest share of the market in 2022 and is anticipated to register the highest CAGR during the forecast period. In the coming year, the hospital segment is estimated to hold the largest market share among all the end users as hospitals record maximum visits of patients suffering from chronic and acute wound types. Better facilities provided by hospitals, availability of different treatment options, and good nursing care are among the factors driving the market growth for the hospitals segment. In addition, government schemes, awareness programs, and different schemes for monetary help attract patients to visit hospitals for treatments.

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This release was published on openPR.