Wound Care Market Anticipated To Reach USD 29.6 Billion By 2030

 San Francisco, 14 June 2022: The Report Wound Care Market Size, Share & Trends Analysis Report By Product (Advanced, Surgical, Traditional), By Application (Chronic Wounds, Acute Wounds), By End-use (Hospitals, Specialty Clinics), By Region, And Segment Forecasts, 2022 - 2030

The global wound care market size is anticipated to reach USD 29.6 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 4.1% from 2022 to 2030. The increasing number of surgical cases, rapidly aging population, as well as rising number of diabetic patients, are among the major factors driving this market’s growth. For instance, according to Ageing Asia, as of 2019, more than 139 million people i.e., about 10% of the total population in India were over the age of 60. This is expected to increase up to 19.5% in 2050. The geriatric population is more susceptible to wounds, and thus, the increasing elderly population is anticipated to propel the market growth during the forecast period. 

Obesity and overweight are major health concerns that lead to a number of associated diseases or complications such as diabetes and cardiovascular diseases. As per the WHO, in 2016, over 1.9 billion adults were overweight, out of which around 650 million people were obese, and around 2.8 million people die each year being overweight/obese. Such instances are expected to increase the demand for bariatric procedures and other related surgeries, thereby propelling the market growth during the forecast period. 

Furthermore, with the introduction of the COVID-19 vaccine, and the lifting of lockdown impositions, the market is expected to impel in the coming years. Many elective surgeries which were postponed are expected to take place. In addition to this, many leading manufacturers are undergoing strategic initiatives such as product launches, partnerships, and geographic expansions, which may help them to capitalize on the increasing demand for wound care products during the forecast period. For instance, Human Biosciences is planning to launch two new wound care products in the Indian market. The launch of these products in the Indian market is expected to help the company to capture the post-pandemic market in India. Thus, similar initiatives by other market players are anticipated to boost market growth during the post-pandemic time. 

Access Research Report of Wound Care Market @ https://www.grandviewresearch.com/industry-analysis/wound-care-market

Wound Care Market Report Highlights

• Based on product, the advanced wound dressing segment dominated the market and accounted for a revenue share of 34.6% in 2021, owing to an increase in the number of diabetic pressure ulcer patients
• Based on application, the chronic wound segment dominated the market and accounted for a revenue share of 59.9% in 2021, owing to the rising incidences of traumatic injuries around the world
• On the basis of end-use, the hospital segment dominated the market owing to an increasing number of surgical site infections among patients in hospitals. On the other hand, the home healthcare segment is anticipated to witness the fastest growth in the forecast period
• North America dominated the market and accounted for the highest revenue share of 45.4% in 2021, owing to the increasing number of surgical procedures and technological advancements in the region

List of Key Players in the Wound Care Market

• Smith & Nephew
• Mölnlycke Health Care AB
• ConvaTec Group PLC
• Ethicon (Johnson & Johnson)
• Baxter International
• URGO Medical
• Coloplast Corp.
• Medtronic
• 3M
• Derma Sciences Inc. (Integra LifeSciences)
• Medline Industries
• Advancis Medical
• Braun Melsungen AG

Access Press Release of Wound Care Market @ https://www.grandviewresearch.com/press-release/global-wound-care-market