Global Advanced Wound Care Market is expected to reach USD 15.57 billion by 2026 : Fior Markets

Fior Markets launched a study titled “Advanced Wound Care Market by Product (Wound Dressings, Wound Therapy Devices, Others), Application, End User, Regions, and Global Forecast 2019-2026"

New Jersey, July 02, 2019 (GLOBE NEWSWIRE) -- Fior Markets launched a study titled “Advanced Wound Care Market by Product (Wound Dressings, Wound Therapy Devices, Others), Application, End User, Regions, and Global Forecast 2019-2026".

The global advanced wound care market is expected to grow from USD 10.24 billion in 2018 to USD 15.57 billion by 2026, at a CAGR of 5.38% during the forecast period 2019-2026. Superior healing properties of advanced wound care products along with the global increase in the geriatric population are anticipated to propel the growth of the global advanced wound care market.

The wound dressing segment had a market value of USD 5.52 billion in 2018

The product segment is divided into wound dressings, wound therapy devices, and others. The wound dressings segment is further subdivided into the antimicrobial dressing, hydrogel dressings, foam dressings, film dressings, hydrocolloidal dressings, and others. The wound therapy devices are further subcategorized into negative pressure wound therapy systems, pressure relief devices, electrostimulation devices, oxygen and hyperbaric oxygen equipment and others. Growing awareness about the benefits of the advanced wound dressings was the principal driving factor that led the wound dressing segment to emerge as the leader with a revenue of USD 5.52 billion in 2018.

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The surgical wound segment is anticipated to grow at the highest CAGR of 7.51% over the forecast period

The application segment contains diabetic wounds, skin burn wounds, pressure wounds, surgical wounds, venous legs ulcers, and others.  Due to the increase in the number of people undergoing surgical procedures, coupled with the growing emphasis on reducing the hospital stay, the surgical wound segment is projected to grow at the highest CAGR of 7.51% over the forecast period.

The hospitals & clinics segment had a market value of USD 5.00 billion in 2018

The end user segment is categorized into hospitals & clinics, home care settings, and others. Based on the factors such as increasing number people of people undergoing the surgical procedures coupled with an increase in spending on the healthcare and favorable reimbursement scenario, the hospitals & clinics segment dominated the global market with a revenue of USD 5.00 billion in 2018.

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Regional Segmentation Analysis:

The regions analyzed for the market include North America, Europe, South America, Asia Pacific, and Middle East and Africa. Presence of well-developed healthcare facilities, high incidence of chronic wounds, rising number of the elderly population and a huge number of people undergoing surgeries led the North America region to dominate the global advanced wound care market with a revenue of USD 4.08 billion in 2018. Advanced wound care products are largely focused on keeping the wound hydrated to encourage healing, following the concept that a moist microenvironment promotes the natural healing process without occluding the wound. Due to the rising awareness about the benefits of advanced wound products and rapid improvement in the healthcare sector, the Asia Pacific region is anticipated to grow at the highest CAGR of 7.42% over the forecast period. 

Competitive Analysis:

Major players in the global advanced wound care market are Smith & Nephew plc., Acelity L.P. Inc., ConvaTec Group Plc.,  3M Company,  Ethicon, Mölnlycke Health Care REIT AB, Covidien plc,  Coloplast A/S, Baxter International., Derma Sciences, Inc., Hollister Incorporated, B. Braun, Integra Lifesciences, Cardinal Health, Medtronic, Mimedx Group, Axio Biosolutions , Paul Hartmann and Key Innovators among others. In order to participate in the highly competitive market, the major players are emphasizing on launching new and innovative products. For instance in the year 2019, MediPurpose announced the launch of new advanced wound care product collection, MediPlus™. The comprehensive MediPlus™ advanced wound care product line includes Foams: MediPlus™ Foam, MediPlus™ Comfort Foam, MediPlus™ HC Foam, MediPlus™ HC Super, Hydrocolloids: MediPlus™ HC (1.0 mm), MediPlus™ HC Thin (0.3 mm), MediPlus™ HC Comfort, Hydrogels: MediPlus™ BarrierGel, MediPlus™ BarrierGel Comfort, Non-Adherent Pads: MediPlus™ PE Pad, Post-Surgical Dressings: MediPlus™ PU Pad, MediPlus™ Surgical and Thin Films: MediPlus™ PU Film, MediPlus™ PU Frame.

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