Wound Care Market: Current Scenarios and Opportunities

The global wound care market size was valued at USD 20.59 billion in 2021 and is projected to expand at a compound annual growth rate (CAGR) of 4.12% from 2022 to 2030

The global Wound Care Market size is anticipated to reach USD 29.57 billion by 2030, registering a CAGR of 4.12% during the forecast period, according to a new report by Grand View Research, Inc. Increasing number of surgical cases, rapidly aging population, as well as rising number of diabetic patients, are among the major factors driving the market growth. For instance, according to Ageing Asia, in 2019, more than 139 million people i.e., about 10% of the total population, in India were over the age of 60 years. The number is expected to increase to 19.5% by 2050. Elder people are more susceptible to wounds, and thus, an increasing number of geriatric population is anticipated to propel the market growth. Obesity is a major health concern that leads to several other diseases or complications, such as diabetes and Cardiovascular Diseases (CVDs).

As per the WHO, in 2016, over 1.9 billion adults were overweight, out of which, around 650 million people were obese and around 2.8 million people die each year due to obesity. Such instances are expected to increase the demand for bariatric procedures and other related surgeries, thereby, propelling the market growth. Furthermore, with the introduction of the COVID-19 vaccine, and the lifting of lockdown impositions, the market is expected to witness rapid growth in the coming years. Many elective surgeries, which were postponed are expected to take place. In addition, many leading manufacturers are introducing new products, which may help them capitalize on the increasing demand for wound care products during the forecast period.

Related Press Release@ Wound Care Market Report

Wound Care Market Report Highlights

• The advanced wound dressing product segment dominated the market accounting for the maximum revenue share in 2021, owing to a rise in the number of diabetic pressure ulcer patients
• Based on active wound care, the biomaterials segment dominated the market and is expected to expand a considerable CAGR from 2022 to 2030
• This growth can be attributed to rapid technological advancements and a rise in the number of burn cases across the globe
• Based on application, the chronic wound segment is likely to witness the fastest CAGR during the forecast period owing to increasing cases of traumatic injuries
• The hospital end-use segment dominated the market in 2021 owing to the high volume of surgical site infections among patients in hospitals
• On the other hand, the home healthcare segment is anticipated to witness the fastest CAGR during the forecast period
• North America was the dominant regional market in 2021 due to the increased volume of surgical procedures and technological advancements

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