The global wound care market is projected to reach USD 27.8 billion by 2026 from USD 19.3 billion in 2021, at a CAGR of 7.6% during the forecast period. Market growth is largely driven by factors such as the growing prevalence of chronic conditions resulting in chronic, surgical, acute, and traumatic wounds; increasing spending on chronic wounds; rising use of regenerative medicine in wound management; and technological advancements.
“The advanced wound care products segment accounted for the highest growth rate in the wound care market, by product, during the forecast period“
Based on products, the wound care market is segmented into advanced wound care products, surgical wound care products, and traditional wound care products. During the forecasted period, advanced wound care segment is expected to grow at a highest CAGR in the global wound care market. Advanced wound care products are increasingly being used as the first line of therapy, making it likely that they will cannibalize the share of the traditional wound care products market. The advantages of advanced wound care over traditional wound care are the key factors driving the growth of this market.
“Homecare Settings segment accounted for the highest CAGR”
Based on end users, the wound care market is segmented into hospitals & clinics, long-term care facilities, home care settings, and other end users. During the forecasted period, the home care settings segment is expected to register the highest CAGR in the global wound care market. However, hospitals & clinics segment accounted for the largest share in 2020. The large share of this segment can be attributed to factors such as the growing prevalence of surgical and chronic wounds; rising incidence of associated SSIs and HAIs; and the increasing incidence of burn injuries.
“Asia Pacific: The fastest-growing region in wound care market”
The Asia Pacific market is expected to witness the highest growth during the forecast period, primarily due to the increasing investments by governments and industries, growing incidence of chronic conditions, and rising awareness of wound care products.
The primary interviews conducted for this report can be categorized as follows:
- By Company Type: Tier 1 - 20%, Tier 2 - 45%, and Tier 3 - 35%
- By Designation: C-level - 30%, D-level - 20%, and Others - 50%
- By Region: North America - 36%, Europe - 25%, Asia Pacific - 27%, Latin America – 9%, and Middle East and Africa – 3%.
This report provides a detailed picture of the global wound care market. It aims at estimating the size and future growth potential of the market across different segments, such as product, wound type, end user, and region. The report also includes an in-depth competitive analysis of the key market players, along with their company profiles, recent developments, and key market strategies.
Key Benefits of Buying the Report:
The report will help market leaders/new entrants by providing them with the closest approximations of the revenue numbers for the overall wound care market and its subsegments. It will also help stakeholders better understand the competitive landscape and gain more insights to better position their business and make suitable go-to-market strategies. This report will enable stakeholders to understand the market’s pulse and provide them with information on the key market drivers, restraints, opportunities, and trends.