Wound Care Market Analysis, Size, Share, Trends, Growth, and Forecast 2027

Wound Care Market report offers an in-depth analysis of various factors promoting and demoting the growth of the market during the mentioned forecast period.

The global wound care market size is projected to showcase significant progress and earn USD 24.55 billion by 2027. This is accountable to the increasing prevalence of chronic diseases such as diabetes, blood pressure, and the wounds that result from them, such as diabetic foot ulcers and pressure ulcers. Wound care is used for injuries that are unable to heal by themselves. If untreated, they may result in severe consequences, such as mobility issues, decreased elasticity of blood vessels, and others. A recent report by Fortune Business Insights offers an elaborative overview of the market. The report is titled, “Wound Care Market Size, Share & Covid-19 Impact Analysis, By Type (Advanced Wound Dressing, Traditional Wound Care Products, Negative Pressure Wound Therapy, Bioactives, and Others), By Application (Chronic Wounds, and Acute Wounds), By End User (Hospitals, Clinics, Homecare Settings, and Others), and Regional Forecast, 2020-2027.” According to this report, the market value stood at USD 15.68 billion in 2019 and is likely to exhibit a CAGR of 6.0% between 2020 to 2027.

As per a report by Fortune Business Insights™, some of the significant players in the market are as follows:

• Johnson & Johnson Services, Inc.
• Smith & Nephew
• Coloplast Corp
• Cardinal Health
• ConvaTec Inc.
• Medtronic
• 3M
• BSN Medical (Essity)
• PAUL HARTMANN AG
• Other players

Regional Analysis-

North America is Holding Dominance on Account of Well-established Healthcare Infrastructure

North America earned a revenue of USD 6.09 billion in 2019 and emerged dominant, followed by Europe. This is on account of the increasing prevalence of acute and chronic wounds. This coupled with the presence of well-established healthcare infrastructure and facilities, as well as favorable reimbursement policies by the governments of developed nations are likely to aid in the expansion of the regional market.

On the other side, the market in Asia Pacific is likely to exhibit rapid growth in the coming years on account of the increasing prevalence of acute and chronic diseases as a result of the rising patient population and improving healthcare and medical infrastructure.

 Segment:

Advanced Wound Dressing Segment to earn Largest Share Owing to Better Product Offering

Based on segmentation by type, the advanced wound dressing segment earned 42.6% wound care market share in 2019 and emerged dominant. This is owing to the presence of a diverse product portfolio.

Regional Analysis-

North America is Holding Dominance on Account of Well-established Healthcare Infrastructure

North America earned a revenue of USD 6.09 billion in 2019 and emerged dominant, followed by Europe. This is on account of the increasing prevalence of acute and chronic wounds. This coupled with the presence of well-established healthcare infrastructure and facilities, as well as favorable reimbursement policies by the governments of developed nations are likely to aid in the expansion of the regional market.