The chronic wound care global market report 2024from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Chronic Wound Care Market, 2024report by The Business Research Company offers
comprehensive insights into the current state of the market and highlights
future growth opportunities.
Market Size - The chronic wound care market size has grown strongly in recent
years. It will grow from $14.23 billion in 2023 to $15.27 billion in 2024 at a
compound annual growth rate (CAGR) of 7.4%. The growth in the historic period
can be attributed to the aging population, rise in prevalence of chronic
diseases, increased incidence of diabetes, growth in awareness about wound
management, and improved access to healthcare services.
The chronic wound care market size is expected to see strong growth in the next
few years. It will grow to $20.43 billion in 2028 at a compound annual growth
rate (CAGR) of 7.5%. The growth in the forecast period can be attributed to
rising demand for wound care products, increasing healthcare spending in
emerging economies, emphasis on preventive wound care measures, personalized
wound care solutions, and a growing focus on infection control. Major trends in
the forecast period include the integration of digital health solutions in
wound care management, expansion of wound care clinics and specialized centers,
adoption of artificial intelligence for wound assessment and treatment
planning, increased collaboration between wound care specialists and other
healthcare professionals, and development of novel biomaterials for wound
dressings.
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Scope Of Chronic Wound Care MarketThe Business Research Company's reports
encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market's historical
performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market
landscape.
4. Key Segments: Breakdown of the market into its primary segments and their
respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and
geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting
the market.
Chronic Wound Care Market Overview
Market Drivers -The surging number of sports injuries is expected to drive the
chronic wound care market going forward. Sports injuries refer to physical harm
or trauma sustained during participation in sports or recreational activities.
The number of sports injuries is on the rise due to various reasons, such as
increased intensity of training, a lack of proper warm-up, inadequate
protective gear, and poor technique. Chronic wound care aids in treating the
surging number of sports injuries by promoting faster healing, preventing
infections, and minimizing the risk of complications, thereby facilitating a
quicker return to physical activity. For instance, in March 2024, according to
the National Safety Council, a US-based non-profit public service organization,
in 2022, there were 3.6 million emergency department treatments for sports and
recreational equipment-related injuries, up from a record low in 2020, with a
20% increase in 2021 and a further 32% increase in 2022 compared to the
previous year. In addition, the number of injuries associated with exercise and
exercise equipment grew from 409,224 in 2021 to 445,642 in 2022. Therefore, the
surging number of sports injuries is driving the chronic wound care market.
Market Trends - Major companies operating in the chronic wound care market are
increasing their focus on developing advanced solutions, such as negative
pressure wound therapy (NPWT) systems, to enable more comfortable and
convenient home-based treatment. A negative pressure wound therapy (NPWT)
system refers to a medical device that applies controlled suction to a wound,
promoting healing by removing excess fluid, reducing edema, and enhancing
tissue perfusion. For instance, in April 2024, Smith & Nephew, a UK-based
medical equipment manufacturing company, launched the RENASYS EDGE in the US as
a patient-centric option for treating chronic wounds. This system features a
lightweight, compact design and an intuitive interface for clinicians. Its
user-friendly interface provides step-by-step advice on therapeutic
applications, and technical support is available with a single click during
setup via the system's near-field communication function. Smith+Nephew also
provides 24-hour patient support and a clinical helpline. Its technological
advancements, such as increased portability and the incorporation of near-field
communication, not only improve patient comfort but also address the growing
demand for effective home-based care, potentially lowering healthcare costs
associated with chronic wound management in the wound care market.
The chronic wound care market covered in this report is segmented –
1) By Product: Advanced Wound Dressing, Surgical Wound Care, Suture And
Staples, Tissue Adhesive And Sealants, Anti-infective Dressing, Traditional
Wound Care, Wound Therapy Devices
2) By Application: Diabetic Foot Ulcers, Pressure Ulcers, Venous Leg Ulcers,
Other Applications
3) By End-User: Hospitals, Clinics, Homecare Settings, Other End-Users
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Regional Insights - North America was the largest region in the chronic wound
care market in 2023. Asia-Pacific is expected to be the fastest-growing region
in the forecast period. The regions covered in the chronic wound care market
report are Asia-Pacific, Western Europe, Eastern Europe, North America, South
America, Middle East, Africa.
Key Companies - Major companies operating in the chronic wound care market are
Cardinal Health Inc., Johnson & Johnson, 3M Company, Medtronic PLC, Becton
Dickinson and Company, Stryker Corporation, Teva Pharmaceuticals, Baxter
International Inc., Essity AB (BSN Medical), Medline Industries Inc., Avery
Dennison Corporation, Smith & Nephew PLC, Ethicon Inc., Coloplast AS, B.
Braun Holding GmbH & Co. KG, Paul Hartmann AG, ConvaTec Group PLC,
Mölnlycke Health Care AB, Integra LifeSciences Holdings Corporation, Acelity
L.P. Inc., Organogenesis Holdings Inc., MTF Biologics, MIMEDX Group Inc.,
Vericel Corporation, Anika Therapeutics Inc., Sigvaris Group, Marine Polymer
Technologies Inc., Oneness Biotech Co. Ltd., Tissue Regenix Group PLC, Alleva
Medical Ltd. (Devon Medical Products)
Table of Contents 1. Executive Summary2. Chronic Wound Care Market Report
Structure3. Chronic Wound Care Market Trends And Strategies4. Chronic Wound
Care Market – Macro Economic Scenario5. Chronic Wound Care Market Size And
Growth…..27. Chronic Wound Care Market Competitor Landscape And Company
Profiles28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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