Wound Care Market to Surpass US$ 25,280.5 Million by 2026 - Coherent Market Insights

Published On : Aug 30, 2019

Global Wound Care Market, By Product Type (Advanced Wound Management Products (Wound Dressings (Foam Dressings, Hydrocolloid Dressings, Film Dressings, Anti-infective Dressings, Alginate Dressings, and Collagen Dressings), Wound Therapy Devices (Pressure Relief Devices, Negative Pressure Wound Therapy Systems, Hyperbaric Oxygen Equipment, and Electrical Stimulation Devices), and Active Wound Care), Surgical Wound Care Product (Sutures and Staples and Tissue Adhesives, Sealants  and Glues), and Traditional Wound Care Products (Medical Tapes, Dressings, and Cleansing Agents), By Wound Type (Chronic Wounds (Pressure Ulcers, Diabetic Foot Ulcers, Venous Ulcers and, Other Chronic Wounds) and Acute Wound (Surgical and Traumatic Wounds and Burns), By End User (Hospitals, Clinics, Ambulatory Surgical Centers diagnostic centers, Home Care Settings, and Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) was valued at US$ 17,790 in 2018, and is projected to exhibit a CAGR of 4.6% over the forecast period (2019 - 2026), as highlighted in a new report published by Coherent Market Insights.

Research and development institutes are focused on development of innovative wound care products to receive large funding from healthcare companies, which is expected to drive growth the global wound care market over the forecast period. For instance, in November 2018, The Wound Healing Foundation, with the support from Corius Tissue Regeneration a trademark of Medline Industries Inc., announced a new three-year grant series: WHF-Medline Research Grant Innovation Award. The first of three consecutive US$ 30,000 grant awards for the best scientific and innovative proposal was awarded in May 2019 to scientist involved in wound healing product innovation research. The purpose of the award is to stimulate innovative wound healing product development. This is a one year, US$ 30,000 grant, which will be awarded to an investigator doing research in wound healing in the U.S. Application proposals should be innovative and have the ability to be commercialized in the future.

Furthermore, The Wound Healing Foundation is consistently putting efforts to receive more funding from donators and sponsors for development of wound care products. The Wound Healing Foundation, in 2015, volunteered for over 4 months for bringing awareness and funding to the wound healing community.

Increasing approvals for wound care product from regulatory authorities is expected to drive the global wound care market growth during the forecast period. For instance, in 2018, AQUACEL Ag Advantage dressing received the U.S. Food and Drug Administration (FDA) 510(k) clearance for wound care management.

Browse 35 Market Data Tables and 57 Figures spread through 247 Pages and in-depth TOC on "Wound Care Market By Product Type (Advanced Wound Management Products(Wound Dressings (Foam Dressings, Hydrocolloid Dressings, Film Dressings, Anti-Infective Dressings, Alginate Dressings, and Collagen Dressings), Wound Therapy Devices(Pressure Relief Devices, Negative Pressure Wound Therapy Systems, Hyperbaric Oxygen Equipment, and Electrical Stimulation Devices), and Active Wound Care), Surgical Wound Care Product (Sutures and Staples and Tissue Adhesives, Sealants, and Glues), and Traditional Wound Care Products (Medical Tapes, Dressings, and Cleansing Agents), By Wound Type (Chronic Wounds (Pressure Ulcers, Diabetic Foot Ulcers, Venous Ulcers and Other Chronic Wounds), and Acute Wound (Surgical and Traumatic Wounds and Burns), By End User (Hospitals, Clinics, Ambulatory Surgical Centers diagnostic centers, Home Care Settings, and Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)- Global Forecast to 2026"

To know the latest trends and insights related Global Wound Care Market, click the link below:

https://www.coherentmarketinsights.com/market-insight/wound-care-market-546

Governments of different countries are focusing on initiatives and strategies to improve access to wound care products for patients. For example, Department of Health & Human Services, State Government of Victoria, Australia, is implementing Strengthening Wound Management Practice Strategy, which aims to help older people and staff caring for older people to improve wound management practice.

Similarly, Connected Wound Care Project is a successful collaboration between the regional wounds Victoria clinical nurse consultants and the Royal District Nursing Service. The project focuses on development of educational and information resources to assist nurses and people they care for in preventing and managing wounds.

Key Takeaways of the Global Wound Care Market:

  • The global wound care market is expected to expand at a CAGR of 4.6% during the forecast period (2018–2026), owing to increasing funding and regulatory approval for wound care products
  • Among product type, the advanced wound management products segment is expected to hold major revenue share in 2026, owing to high presence key players in advanced wound care management products segment such Johnson & Johnson, 3M Company, Baxter International, Acelity, Coloplast, Integra Lifesciences, Kinetic Concepts, Medtronic plc., and Smith & Nephew plc.
  • Major players operating in the global wound care market include Acelity L.P., Inc., 3M Company, Baxter International, Inc., Coloplast A/S, Integra Lifesciences, Johnson & Johnson, Inc., Smith & Nephew Plc., Cardinal Health, ConvaTec Group PLC, and Organogenesis Inc.

About Coherent Market Insights:

Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

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