Global Wound Care Market, By Product Type (Advanced Wound Management Products(Wound Dressings, (Foam Dressings, Hydrocolloid Dressings, Film Dressings, Anti-Infective Dressings, Alginate Dressings, Collagen Dressings), Wound Therapy Devices (Pressure Relief Devices, Negative Pressure Wound Therapy Systems, Hyperbaric Oxygen Equipment, Electrical Stimulation Devices, and Active Wound Care), Surgical Wound Care Products, (Sutures and Staples, Tissue Adhesives, Sealants, and Glues) and Traditional Wound Care Products, (Medical Tapes, Dressings, Cleansing Agents))), By Wound Type Chronic Wound (Pressure Ulcers, Diabetic Foot Ulcers, Venous Ulcers, Other Chronic Wounds (Traumatic Wounds, etc.)) and Acute Wounds, (Surgical and Traumatic Wounds, Burns)), By End User (Hospitals, Clinics, Ambulatory Surgical Centers, and Others (Home Care Settings, etc.)), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) as highlighted in a new report published by Coherent Market Insights. Global Wound Care Market is estimated to be valued at 22,343.1 Million in 2023 and is expected to exhibit a CAGR of 5.30% during the forecast period (2023-2030),
Adoption of growth strategies such as merger and acquisition of companies by key market player is expected to drive the global wound care market growth over the forecast period. For instance, in March 2022, Hygiene and health company Essity acquired the company Hydrofera, provider of wound dressings. Essity offers technology and products within advanced wound care. The increasing portfolio of new technologies due to the acquisition, can benefit the global wound care market.
Global Wound Care Market– Impact of Coronavirus (COVID-19) Pandemic
The COVID-19 pandemic and lockdowns in various countries across the globe have impacted the financial status of businesses across all sectors, including the private healthcare sector. The COVID-19 pandemic has impacted the entire supply chain of the healthcare industry, mainly due to strict lockdowns in several regions. Private healthcare is one such sector that has been impacted significantly by the COVID-19 pandemic.
However, the COVID-19 pandemic had a negative impact on the global wound care market. For Instance, in January 2022, Blaine Labs Company, voluntarily recalled one lot of RevitaDerm wound care to the consumer level, because a bottle of 1.0 ounce RevitaDerm wound care Gel was found contaminated with Bacillus cereus.
Global Wound Care Market: Key Developments
In February 2021, Axio Biosolutions Pvt Ltd., a medical technology company, announced that it had received European CE mark approval for MaxioCel, a wound care product for healing of chronic wounds such as pressure ulcers, diabetic foot ulcers, venous leg ulcers, cavity wounds, skin abrasions, and surgical wounds during clinical surgeries.
In March 2021, Marizyme, a biotechnology company, announced its entry in supply and distribution agreement with Abdera Financial, a Chilean based distributor, to distribute Marizyme's ‘DuraGraft’ product in Chile, with potential expansion into other countries and regions of the South American market.
Browse 35 Market Data Tables and 34 Figures spread through 180 Pages and in-depth TOC on “Global Wound Care Market”- Forecast to 2030, Global Wound Care Market, By Product Type (Advanced Wound Management Products(Wound Dressings, (Foam Dressings, Hydrocolloid Dressings, Film Dressings, Anti-Infective Dressings, Alginate Dressings, Collagen Dressings), Wound Therapy Devices (Pressure Relief Devices, Negative Pressure Wound Therapy Systems, Hyperbaric Oxygen Equipment, Electrical Stimulation Devices, and Active Wound Care), Surgical Wound Care Products, (Sutures and Staples, Tissue Adhesives, Sealants, and Glues) and Traditional Wound Care Products, (Medical Tapes, Dressings, Cleansing Agents))), By Wound Type ( Chronic Wound (Pressure Ulcers, Diabetic Foot Ulcers, Venous Ulcers, Other Chronic Wounds (Traumatic Wounds, etc.)) and Acute Wounds, (Surgical and Traumatic Wounds, Burns)) By End User (Hospitals, Clinics, Ambulatory Surgical Centers, and Others (Home Care Settings, etc.)), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
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Moreover, increasing technological advancement in the wound care product management is expected to drive the market growth over the forecast period. For instance, in September 2022, Arch Therapeutics, a biotechnology company, announced its first Shipments of AC5 advanced wound system under new reimbursement support program that provides management of partial and full-thickness wounds, such as leg ulcers, diabetic ulcers, and surgical wounds.
Key Takeaways of the Global Wound Care Market:
- The global wound care is expected to exhibit a CAGR of 5.30% during the forecast period, owing to increasing product launches by key market players. For instance, in July 2020, EO2 Concepts, a wound care technology company, announced that it had launched OxyGeni and the OxySpur wound dressings, that provides continuous diffusion of oxygen (CDO) therapy with a system that offers full closure and pain relief to patients suffering with chronic wounds including diabetic and other healing-compromised patients.
- Among product type, advanced wound care management is estimated to hold a dominant position in the global wound care market, due to increasing product approvals and acquisition of companies by key market players. For instance, in November 2020, Advanced Medical Solutions Group (AMS), a surgical and advanced wound care specialist company, announced that it has acquired Raleigh Adhesive Coatings Limited, an independent woundcare and bio-diagnostics coatings.
- Among region, Asia Pacific accounted for the fastest growth in the global wound care market, due to increasing acquisition of key player and is expected to drive the market over the forecast period. For Instance, in April 2022, Winner Medical, a China-based leading manufacturer of wound care, announced that it had signed a definitive agreement to acquire 55% stake in Zhejiang Longterm Medical Technology Co., Ltd.
- Major players operating in the global wound care market include 3M, Baxter, Coloplast A/S, Acelity L.P. Inc., Integra LifeSciences, Johnson & Johnson Services, Inc., Axio Biosolutions Pvt Ltd., Omeza, Smith & Nephew Plc., Cardinal Health, Schulke & Mayr GmbH, Bactiguard AB, Wound Care Advantage, LLC, Noventure, EO2 Concepts, Essity, Hydrofera, Advance Medical, Inc., CutisCare, Convatec Group PLC, and Organogenesis Inc.
