Acumen Research and Consulting, a global provider of market research, in a recently published report titled “The Wound Treatment Market – Global Industry Analysis, Market Size, Opportunity and Forecast, 2020-2027”
LOS ANGELES, April 7, 2021 (GLOBUS NEWS) – Global wound care market the CAGR is expected to be around 4.7% from 2020 to 2027 and reach a market value of over US $ 26.2 billion by 2027.
North America dominates the wound care market until the forecast period. This is due to an increase in the number of chronic wounds, favorable reimbursement policies and an increase in the geriatric population. According to the American Podiatric Medical Association (APMA) 2020, diabetes is the leading cause of non-traumatic lower limb amputations in the United States, and approximately 14-24% of patients with foot ulcers require amputation. This is one of the important factors driving up the demand in the wound care market.
In addition, the Asia-Pacific region is expected to experience strong CAGR over the coming years. India, China and Japan are developing countries responsible for the growth of the wound care market. The active presence of prominent players in developing countries in Asia and strong government support act as stimulating factors for the growth of the wound care market in this region.
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The rise in sports-related injuries, road traffic accidents, burns and injuries is driving the growth of the global wound care market. The National Diabetes Statistics Report showed that in 2017, more than 1 million people in the United States had diabetes or pre-diabetic conditions. This led to the root cause of the diabetic foot condition in the patient pool. Such factors are responsible for the growth of the wound care market worldwide.
The wound care market is segmented based on wound type, treatment and end user. The market is divided into segments by wound type: diabetic foot ulcers, bedsores, venous leg ulcers, surgical and traumatic wounds, burns and other wounds. By treatment, the wound care market is segmented based on bioengineered skin substitutes, hyperbaric oxygen therapy, plastic surgery techniques, specialized dressings and treatments, percutaneous oxygen testing, vascular surgery, negative pressure wound therapy (NPWT), platelet rich plasma (PRP). treatment, stimulation of fibroblast cells using radiofrequency and ultrasound for wound treatment. The market is segmented by end-user into hospitals and clinics, long-term care facilities and home care services.
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By the type of wound, ulcers of the diabetic foot will acquire great importance in the world market for wound treatment. According to the Centers for Disease Control and Prevention (CDC), foot and lower limb ulcers (LEA) are disabling complications of diabetes and lower limb disease. In the USA approx. 60% of all LEAs occur in people with diabetes, of which almost 85% of foot ulcers are affected by LEAs. In addition, bioengineered skin tissue is expected to dominate the global wound care market through treatment.
In addition, the end-user segment of hospitals and clinics is expected to become the all-time leader in the global wound care market. Increasing patient satisfaction, better hospital care and improved efficiency in patient care are the factors driving the eventual growth of the wound care market worldwide. Advanced therapies combined with specialized equipment are widely used by hospitals and health care providers to treat critical cases. Hospitals equipped with improved healthcare infrastructure and staff make hospitals and clinics one of the largest segments of the global wound care market.
Major players in the wound care market are Johnson & Johnson Services, Inc., ConvaTec Group PLC, Integra Lifesciences Corporation, Mölnlycke Health Care, Smith & Nephew plc, Acelity LP Inc., Coloplast A / S, PAUL HARTMANN AG and among others.
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Some of the key observations regarding the wound care industry include:
In February 2020, Integra Lifesciences Corporation announced a new product, the AmnioExcel® Plus Placental Allograft Membrane. AmnioExcel Plus is a thicker, three-layer, flank-nonspecific, next-generation amnion-chorion-amnion allograft that helps create an environment that helps close complex wounds.
In January 2020, ConvaTec Group PLC announced a new product – ConvaMax. The ConvaMax ™ superabsorbent dressing is used to treat highly exuding wounds, including leg ulcers, pressure ulcers, diabetic foot ulcers and split surgical wounds. The ConvaMax ™ superabsorbent wicks away excess moisture to help protect the integrity of the skin.
In November 2018, Mölnlycke Health Care announced the launch of a new product, the Mepilex® Border Flex. The new product is specifically designed to support fewer dressing changes, reduce dressing costs and waste, and create optimal healing conditions.
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