The global wound & tissue care market was valued at USD 29,336.4 mn in 2018 and is expected to reach USD 44,991.9 mn by 2025 at a CAGR of 6.3% during the forecast period.The global wound & tissue care market is witnessing growth due to increasing prevalence of diabetes, rapid growth in geriatric population, developments and innovations in wound care products, increasing funding for wound care research, and awareness programs for wound care treatment and management.
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Chronic conditions such as diabetic foot ulcers that are not healed and venous leg ulcers are a tremendous burden on the health care system. While a little over half of diabetic foot ulcers will cure within 12 weeks, a year after occurrence, 13 percent will stay unhealed. Medicare recipients with diabetic foot ulcers are seen approximately 12 times a year by their outpatient health care providers and they are hospitalized approximately twice a year. Approximately 1 million Americans face diabetic foot ulcers every year, equivalent to more than USD 15 billion in annual healthcare spending.
Additionally, more than three million Americans experience venous leg ulcer each year, adding an additional USD 2 billion or more to the nation’s healthcare expenditure. The Traditional adhesive bandages segment is expected to dominate the market throughout the forecast periodBased on the type, the market has been segmented into traditional adhesive bandages, negative pressure wound therapy, antimicrobial dressings, traditional gauze bandages, foam dressings, non-adherent bandages, hydrocolloids, film dressings, growth factors, bioengineered skin, and others. Among these, traditional adhesive bandages are dominating the market in the year 2018 and are expected to witness the same growth trend during the forecast period. In 2018, the traditional adhesive bandages segment accounted for 26.5% of the overall wound & tissue care market share and it is expected to grow at a CAGR of 5.9% over the forecast period. Sticking plasters or dressings used for tiny wounds are adhesive bandages. These bandages are used for wounds that are not severe enough to require a full-size bandage. They defend wounds against additional injuries, friction, bacteria, and dirt. They cure injuries and carry skin cuts. As medicated or non-medicated bandages, adhesive bandages are accessible. Based on applications, the surgical segment is expected to dominant the market during the forecast periodBased on applications, the market has been segmented as surgical, trauma/lacerations, burns, pressure ulcer, venous ulcer, and diabetic ulcer. Among these, the surgical segment accounts for the largest share in the global wound & tissue care market by application. Surgical care is essential for managing diverse health conditions such as injuries, obstructed labour, malignancy, infections, and cardiovascular diseases and it is an indispensable component of a functioning health system. An increasing number of surgeries worldwide are expected to drive the wound & tissue care market for surgical applications.
In 2018, surgical applications accounted for more than 60% of overall market share and are expected to grow at a CAGR of 6.5% over the forecast period.North America to dominate the wound & tissue market throughout the forecast periodThe North America wound & tissue care market size is expected to grow at a CAGR of 6.2% over the forecast period. Leading wound care companies operating in North America are Ethicon, Acelity, Medtronic, Cardinal Health, Medline, Baxter, 3M, Integra LifeSciences, MiMedx, and Mölnlycke. The increasing prevalence of diabetes, ulcers, and other chronic diseases is expected to propel the wound care market in this region. Additionally, the growing aging population will further create demand for wound & tissue care services in the coming years.Company Profiles and Competitive IntelligenceThe major players operating in the global wound & tissue care market are 3M, ABL Medical, Acelity, ACell, AquaMed, Amniox Medical, Inc, Angelini, Argentum Medical, LLC, ArjoHuntleigh, Arobella Medical, LLC, Baxter International Inc., Aesculap, Inc. – B. Braun, Cardinal Health, Coloplast A/S, ConvaTec, Inc, and other notable players.
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