Wound Healing Market
Wound Healing Market (Product - Dressings (Foam Dressings, Hydrocolloid Dressings, Hydrogel Dressings, Alginate Dressings, Collagen Dressings), Bandages (Elastic bandages, Compression Bandages, Adhesive Bandages, Liquid Bandages), Topical Agents (Hemostatic Agents, Antimicrobials, Wound Cleansers), Wound Closure Agents (Sutures - Absorbable and Non-absorbable, Adhesives and Sealants, Staplers - Manual and Powered, Strips - Sterile and Non-sterile), Gauzes & Sponges (Sterile and Non-sterile), Tapes (Cloth Tape, paper Tape, Silicon Tape), Therapy Device (Negative Pressure Wound Therapy Devices, Oxygen Therapy Device); Wound Type - Acute Wound (Surgical, Traumatic Wounds, Burns), Chronic Wounds (Infectious Wounds and Others Ischemic Wounds), Ulcers (Pressure Ulcers, Diabetic Foot Ulcers, Arterial & Venous Ulcer); Gender - Men and Women) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025
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Wound Healing Market: Snapshot
Wound healing is considered a dynamic and complicated process in which devitalized and missing tissue layers and cellular structures are replaced in human body. The 4-stage wound healing process comprises hemostasis, inflammatory, proliferative, and remodeling or maturation phase.
With growing inclination across worldwide healthcare industry toward the incorporation of technologically advanced tools, the traditional techniques of wound care management are getting replaced with sophisticated wound care techniques and products. The advanced wound healing techniques are gaining traction owing to their ability to offer faster healing process in patients. Thus, the healthcare professionals across the world are growing use of various wound healing methods including dressing products, drugs, and devices. This scenario depicts that the global wound healing market is likely to expand at decent pace in the forthcoming years.
In recent few years, there is remarkable growth in number of accidents in all worldwide locations. This factor is driving the demand avenues in the global wound healing market. Apart from this, the market for wound healing is growing at considerable pace on the back of increased cases of diabetes and growing number of older population in all worldwide locations.
The companies engaged in the wound healing market are going through critical scenario owing to the recent COVID-19 pandemic. They are experiencing disruption in production and distribution activities. As a result, the players working in the global market for wound healing are employing various strategies to recover from the losses occurred due to COVID-19 pandemic and regain their regular activities.
Several vendors working in the global wound healing market are consistently engaged in the research and development activities. With this tactic, they are focused on the development of highly advanced wound healing products. Thus, considerable increase in new product launch activities is one of the key factors stimulating promising expansion avenues in the global wound healing market.
Global Wound Healing Market: Snapshot
The rising need for advanced wound care products, owing to the rising number of accidents across the globe is projected to encourage the growth of the wound healing market in the next few years. According to the market research study published by Transparency Market Research, the global wound healing market is expected to reach a value of US$35,065.7 mn by the end of 2025. The market is predicted to register a healthy 4.80% CAGR between 2017 and 2025.
Rising Research Activities to Drive Wound Healing Market
The rising prevalence of diabetes and the rising geriatric population are considered as the major factors that are projected to encourage the growth of the global wound healing market in the next few years. The developments and innovations in the wound care products and the rising investments for the research of wound care are estimated to accelerate the growth of the market in the next few years. In addition to this, the rise in the number of trauma injuries and road accidents and the rising popularity of active wound care products are further expected to enhance the growth of the market in the near future.
On the flip side, the risk associated with the wound care products and the high cost of advanced wound care products are some of the key factors that are predicted to restrict the growth of the market in the next few years. Nonetheless, the lucrative opportunities offered by emerging economies and the application of stem cell therapy in wound care estimated to support the growth of the global wound healing market in the next few years.
North America and Europe to Witness High Growth in Coming Few Years
The global wound healing market has been categorized on the basis of geography into the Middle East and Africa, North America, Latin America, Europe, and Asia Pacific. In the last few years, North America accounted for a large share of the market and is projected to witness high growth in the next few years. This region is estimated to maintain its leading position in the next few years, owing to the presence of several leading players. In addition to this, the rising contribution from the U.S. and Canada is another major factor that is projected to accelerate the growth of the market in the near future. Europe is projected to be on the second position holding a significant share of the market. The high growth of this region can be attributed to the emergence of several local manufacturers who are providing technologically advanced products at a lower cost. Furthermore, with the rising awareness among consumers reading the early diagnosis of chronic wounds, the Asia Pacific market is estimated to witness a promising growth in the next few years.
The global market for wound healing is considered as a highly competitive market with a large number of global and local players operating across the globe. With the entry of several new players, the competition among the key players is projected to get intense in the next few years. In order to stay ahead in the competition, the leading players are focusing on the research and development activities, which is projected to enhance the growth of the market in the next few years. In addition to this, the increasing mergers and acquisitions and the development of new products are projected to generate potential growth opportunities for the market players in the next few years. Some of the key players operating in the wound healing market across the globe are Smith & Nephew plc, BSN medical (Svenska Cellulosa Aktiebolaget SCA), Cardinal Health, Organogenesis Inc., Coloplast Group, Integra LifeSciences Corporation, Acelity L.P., Inc., B. Braun Melsungen AG, Hollister Incorporated, Mölnlycke Health Care AB, 3M Healthcare, Medline Industries, Inc., ConvaTec Inc., Ethicon, Inc. (Johnson & Johnson), Hill-Rom Holdings, Inc.
Global Wound Healing Market: Overview
The wound healing agents act in various areas of clinical activity, which include reducing the infection and inflammation, lowering the patient's pain, removing necrotic tissues, and assisting in wound closure. Introduction of various technologically advanced wound healing products by key players across the globe is a major driving factor for the growth of the wound healing market. According to WHO, 265,000 deaths occur every year due to burns, a majority of which are preventable with proper treatment compliance. About 96% of burns occur in low and middle income countries, highlighting significant treatment penetration in developed countries. Factors such as increase in interactions with professional end-users, which in turn has enabled the companies to understand patient demand & local market scenarios, and growing focus of companies on global business expansion by increasing product outreach among physicians through education centers and academic programs are the major factors estimated to drive the market of global wound healing during 2017-2025.
The global wound healing market report comprises an elaborate executive summary, which includes a market snapshot that provides information about various segments of the market. It also provides information and data analysis of the global market with respect to the segments based on product type, wound type, gender, and geography. A detailed analysis of regulatory scenario for wound healing products is provided in the report, along with the top 3 players operating in the global market. Prominent mergers and acquisitions in the global wound healing market are given in this section for better understanding of the competitive scenario. The report is comprised of pricing analysis of each product type, with their regional analysis.
Technological Advancements in Wound Management are provided with detailed updates of the global market, supported by pipeline analysis of prominent products. The section of the report also provides strategic recommendations for the emerging companies. Elaborated analysis on burns management and patents of key players in the global wound healing market is provided in the report. The volume of major surgical procedures such as episiotomy, cesarean, breast reconstruction, and abdominal surgery are provided in terms of number of procedures performed in 2016. A detailed qualitative analysis of drivers and restraints of the market and opportunities has been provided in the market overview section. In addition, the section comprises competitive matrix and company profiles with business overview to understand the competitive landscape in the market. This section of the report also provides market attractiveness analysis, by geography and market share analysis by key players, thus presenting a thorough analysis of the overall competitive scenario in the global wound healing market.
Global Wound Healing Market: Key Segments
On the basis of product, the global wound healing market is divided into dressings, bandages, topical agents, wound closure agents, gauzes & sponges, tapes, therapy devices, and others. Dressings are further divided into foam dressings, hydrocolloid dressings, hydrogel dressings, alginate dressings, collagen dressings, others. Numerous types of bandages are elastic bandages, compression bandages, adhesive bandages, liquid bandages, others, while topical agents are further classified into hemostatic agents, antimicrobials, wound cleansers, others. The wound closure agents are divided into sutures (absorbable, non-absorbable), adhesives & sealants, staplers (manual, powered), strips (sterile, non-sterile), and others. Two types of gauzes and sponges are sterile & non-sterile, while tapes are further segmented into cloth tape, paper tape, silicon tape, others. Various therapy devices are negative pressure wound therapy devices, oxygen therapy device, others. The segments have been analyzed based on new product launches, regional demand of products, prevalence of specific wound types, and ongoing R&D on the novel wound healing solutions. The market size and forecast for each of these segments have been provided for the period from 2015 to 2025, along with their respective CAGRs for the forecast period from 2017 to 2025, considering 2016 as the base year.
On the basis of wound type, the global wound healing market is segmented into chronic wounds and acute wounds. Acute wounds are further divided into surgical & traumatic wounds, and burns, while various types of chronic wounds are infectious wounds & other ischemic wounds, and ulcers. Ulcers are further divided into pressure ulcers, diabetic foot ulcers, arterial & venous ulcers, and others. The market size and forecast for each of these segments have been provided for the period from 2015 to 2025, along with their respective CAGRs for the forecast period from 2017 to 2025, considering 2016 as the base year.
In terms of gender, the global wound healing market is segmented into men & women. The market size and forecast for each of these segments have been provided for the period from 2015 to 2025, along with their respective CAGRs for the forecast period from 2017 to 2025, considering 2016 as the base year.
Global Wound Healing Market: Regional Outlook
Geographically, the global wound healing market has been categorized into five major regions and the key countries in the respective region: North America (the U.S., Canada), Europe (the U.K., Germany, France, Italy, Spain, Russia, and Rest of Europe), Asia Pacific (China, Japan, India, Australia & New Zealand and Rest of Asia Pacific), Latin America (Brazil, Mexico and Rest of Latin America) and Middle East & Africa (South Africa, GCC, Israel and Rest of Middle East & Africa). The market size and forecast for each of these regions and the mentioned countries have been provided for the period from 2015 to 2025, along with their respective CAGRs for the forecast period from 2017 to 2025, considering 2016 as the base year. The research study also covers the competitive scenario in these regions.
Companies Mentioned in Report
The report also profiles the major players in the market and provides various attributes such as company overview, financial overview, product portfolio, business strategies, and recent developments. Major companies profiled in the wound healing market are Smith & Nephew plc, Integra LifeSciences Corporation, B. Braun Melsungen AG, Mölnlycke Health Care AB, 3M Healthcare, Ethicon, Inc. (Johnson & Johnson), Hill-Rom Holdings, Inc., Cardinal Health, Acelity L.P., Inc., ConvaTec Inc., BSN medical (Svenska Cellulosa Aktiebolaget SCA), Coloplast Group, Medline Industries, Inc., Organogenesis Inc., Hollister Incorporated, and others.
The global wound healing market has been segmented as follows:
By Wound Type