Wound Care Market - Industry Analysis by Size, Share & Growth (2021-2027) | UnivDatos

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According to UnivDatos Market Insights (UMI)’ research report “Global Wound Care Analysis, 2020”, the wound care market is projected to grow at a CAGR of around 6.8% during 2021-27F.

The increasing number of accidents such as road accidents, burns, and trauma events across the globe is anticipated to drive the market. For instance, as per WHO (2018), around 1,000,000 people are severely or moderately burnt in India per year. In addition, as per NCBI, in 2017, countries such as Bulgaria, Finland, the Netherlands, China, Australia, and the U.K. reported a rise in the incidence of burn wounds. Furthermore, as per the American Association for the Surgery of Trauma, in 2017, around 1.2 million people died globally, accounting for deaths of around 3,242 people per day in road accidents every year. Therefore, such instances are anticipated to surge the demand for traditional wound management products, thereby propelling the market growth.

The COVID-19 pandemic has impacted several aspects of the wound care continuum, including compliance with wound care visits, prompting alternative approaches (use of telemedicine and creation of videos to help with wound dressing changes among others), and encouraging a do-it-yourself wound dressing protocol and use of homemade remedies/substitutions.

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According to UnivDatos Market Insights (UMI)’ research report “Global Wound Care Analysis, 2020”, the wound care market is projected to grow at a CAGR of around 6.8% during 2021-27F. The significant growth in the market can be attributed to factors, such as the rising prevalence of diabetes and the increasing number of programs initiated by various health organizations related to health awareness.

Based on the wound type, the market is fragmented into chronic wounds and acute wounds. The chronic wounds segment accounted for a considerable share in 2020 and is anticipated to register a lucrative CAGR during the forecast period owing to the increasing spending on chronic wounds, technological advancements, and the growing prevalence of diseases & conditions affecting wound healing capabilities.

Hospital & Clinics Segment to Witness Robust growth

Based on end-users, the market is segmented into hospitals & clinics, home care settings, and others. The hospitals & clinics segment had the highest revenue and CAGR growth in the analyzed period. The growth of this segment is due to the large number of treatment procedures conducted in hospitals and the easy availability of reimbursements.

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North America to Grab Lion’s Share, and witnessed Explicit Growth

Based on the region, North America dominated the global wound care market in 2020. The region is projected to maintain its dominance during the forecasted period 2021-27 owing to the presence of well-established market players and frequent product launches in the region. North America is expected to skyrocket with a CAGR of X% in the forecast period owing, as stated in UnivDatos Market Insights (UMI)’ research report “Global Wound Care Market Analysis, 2020”.

According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the Wound Care Market include 3M Company, Smith & Nephew plc, Mölnlycke Health Care AB, ConvaTec Group plc, B. Braun Melsungen AG, Cardinal Health, Integra LifeSciences Holdings Corporation, Johnson & Johnson, Medtronic Plc, and Paul Hartmann AG, among others. The players are focused on launching products for gaining customers' traction and expanding their geographical reach to get a competitive edge in the industry.

“Global Wound Care Market Analysis, 2020” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for wound care providers across the Globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of go to Market Strategies and identifying the blue ocean for its offerings.

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Market Segmentation:

By Product Type (Advanced Wound Care Products, Surgical Wound Care Products, and Traditional Wound Care Products)
By Wound Type (Chronic Wounds and Acute Wounds)
By End-Users (Hospitals & Clinics, Home Care Settings, and Others)
By Region (North America, Europe, Asia-Pacific, Rest of the World)
By Company (3M Company, Smith & Nephew plc, Mölnlycke Health Care AB, ConvaTec Group plc, B. Braun Melsungen AG, Cardinal Health, Integra LifeSciences Holdings Corporation, Johnson & Johnson, Medtronic Plc, and Paul Hartmann AG, )

Key questions answered in the study:

What are the current and future trends of the wound care industry?
How the industry has been evolving in terms of product type, wound type, and end-users?
How the competition has been shaping across the countries followed by their comparative factorial indexing?
What are the key growth drivers and challenges for the wound care industry?
What is the customer orientation, purchase behavior, and expectations from wound care firms across various regions?

Table of Content –

1 MARKET INTRODUCTION

2 RESEARCH METHODOLOGY OR ASSUMPTION

3 MARKET SYNOPSIS

4 EXECUTIVE SUMMARY

5 COVID-19 IMPACT

6 GLOBAL WOUND CARE MARKET REVENUE

7 MARKET INSIGHTS BY PRODUCT TYPE

8 MARKET INSIGHTS BY WOUND TYPE

9 MARKET INSIGHTS BY END-USERS

10 MARKET INSIGHTS BY REGION

11 WOUND CARE MARKET DYNAMICS