Advanced Wound Care Market set to grow to $13.8bn by 2024

Wednesday 23 October 2019, Amsterdam

Wound care is essential in improving the quality of life and overall well-being. The wound care industry is highly competitive and diverse with immense potential for growth. Drivers for growth include an increasingly ageing population, rising prevalence of diabetes and obesity, and growing patient awareness.

The number of patients suffering from all forms of chronic wounds is increasing worldwide at around 8% per year; this increasing incidence provides an avenue for substantial growth in the advanced wound care market over the coming years.

This report profiled the selected companies: Acelity, Coloplast, Mölnlycke, Organogenesis, Smith & Nephew, Cardinal Health, BSN Medical GmbH, Hollister, Inc. and other companies.

The lead analyst commented that "The advanced wound care market is expected to experience considerable growth over the forecast period. The main drivers for the growth include an increasingly ageing population, rising prevalence of diabetes and obesity, and growing patient awareness of products available. In the case of patients suffering from chronic wounds, wound care has become a necessity in order to reduce the risk of morbidity.

Due to the maturity of the active wound care dressings market, companies are moving away from the active wound dressings market into wound care devices and biologics. As more companies are entering this market, active wound dressings have become increasingly similar and lacking differentiation."