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As per Market Research Future (MRFR) analysis, the global wound care market held a valuation of USD 15,456.2 million in 2016. It is expected to surpass an estimate of USD 29,900 million from 2016 to 2027 (forecast value). The report provides in-depth primary research and a comprehensive review of qualitative and quantitative aspects by various industry analysts and key opinion leaders in order to provide useful insight into market demand and industry performance.
A type of injury caused by a blow, cut, forceful impact, which breaks the skin and tissues, is referred to as a wound. In medical terms, wounds are distinguished by their types, such as abrasion, contusion, and laceration. Several methods are used to cure wounds in order to avoid future hazards. Wound infection is a huge safety concern for patients as well as healthcare professionals worldwide, making wound care vital to reduce infections and promote the well-being of patients. Over the years, the ranges of wound care products have continued to grow with the constant introduction of innovative and advanced products.
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Market Dynamics
The increasing number of geriatric population and surgeries is driving the global market for wound care. Rising awareness among people about first aid medicines has also strengthened the demand for the global market for wound care. The high number of road accidents and advanced medical facilities are critical factors responsible for the growth of the global market for wound care. The government’s focus on health benefit plans and reimbursement policies has increased the rate of hospitalization for wound injuries and medicines that indirectly affect the growth of the global market for wound care.
Segmentation
The global market for wound care has been segmented into product, type, application, and end-user.
Based on the product, the global market for wound care has been segmented into advanced wound management products, wound therapy devices, traditional wound care products, wound care products, and active wound care products. The advanced wound management products had the most significant revenue in the global market for wound care in 2017 and is expected to show the fastest growth over the forecast period.
Based on type, the global market for wound care has been segmented into chronic wound and acute wound. The chronic wound segment accounted for a significant share in the global wound care market in 2017, and it is expected to grow over the forecast period.
Based on application, the global market for wound care has been segmented into surgical wound, ulcer, burn, and trauma wounds
Based on end-user, the global market for wound care has been segmented into hospitals, clinics, home healthcare centers, and trauma centers. Home healthcare segment is expected to grow at the fastest CAGR in the market. The high growth in the home healthcare sector is attributed to the increasing need for comfortable and convenient care services among the rapidly growing geriatric population worldwide.
Regional Analysis
Region-wise, theglobal market for wound care has been segmented into North America, South America, Europe, Asia Pacific, and the Middle East & Africa.
North America dominates the global market for wound care due to an increasing number of geriatric patients and a rising number of diabetic patients.
Europe is second in the global market for wound care, as the region is developing a beneficial care facility for the population.
The Asia Pacific region is projected to grow significantly due to an increasing population.
The Middle East & Africa has the lowest share in the global wound care market
Key Players
Some of the prominent participants in the global wound care market are B.Braun Melsungen AG, 3M, Baxter, Ethican, Inc., Smith & Nephew, CanvaTec, Kinetic Concepts, Inc.
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