The global wound care market was worth $24,482.9 million in 2015 and it is expected to grow at a CAGR of 6.7% during 2016-2022. Among the various wound care products type, the advanced wound care products segment held the largest share in the global market in 2015. Among the various applications, surgical wound segment held the largest share in the global market in 2015.
Wound Care Market
The global wound care market is witnessing high growth owing to increasing volume of surgeries, growing geriatric population and increasing road accidents. In addition, increasing burn cases as well as growing awareness about wound care products is also leading to its higher adoption. Moreover, increasing incidence cases of diabetes and obesity further leads to increased consumption of wound care products as these patients are more prone to ulcers.
Wound care products promote wound healing by regulating moisture, temperature and oxygen flow around the affected area. They are commonly used for the treatment of burns, ulcers, surgical wounds and injuries which fail to heal in timely manner. These products assist in early recovery and reduce complications related to the healing process. They are sterile in nature to prevent the contamination of wounds during treatment. In addition, they also serve as a barrier to protect the wounds from infectious agents present in the environment.
They are used in both inpatient and outpatient facilities to treat patients suffering from ulcers, burns, injuries, road accidents, non-healing surgical wounds and chronic wounds. Inpatient facilities are used when patients are suffering from the non-healing wounds, which require long-term admission in the hospital. While, outpatient facilities are used when patients are suffering from various type of wounds, which can be treated without admission in the hospital.
Wound care includes advanced wound care products, traditional wound care products and wound closure products. Advanced wound care products are commonly used for the treatment of burns, injuries, trauma, surgical and chronic wounds, and ulcers. Wound therapy devices, such as negative pressure wound therapy (NPWT) devices, oxygen and hyperbaric oxygen equipment, electrical stimulation devices, and others, are used to promote wound healing. They may be used continuously or intermittently depending upon the patient’s condition. Active wound care products include artificial skin and skin substitutes, and topical agents. They reduce inflammation, promote vascularization, prevent infectious agents and promote wound healing. Traditional wound dressings are generally used to treat acute wounds by promoting the wound healing process. They help absorbing exudates, inhibiting infection, preventing bleeding and drying of the wounds. Proper care of acute wounds prevent the formation of chronic wounds by utilizing traditional wound care products.
The restraints associated with the growth of the global market include high cost of wound care products and high technical assistance required for utilization of such products. The high cost of advanced wound products and wound closure products limits the affordability of the consumers acting as a restraint to the global market.
Some of the key companies operating in the global wound care market include 3M Company, Coloplast Corporation, Medtronic plc, Smith and Nephew plc, Integra Life Sciences Holdings Corporation, Molyncke Health Care, Mo-Sci Corporation, Organogenesis Inc., Acelity L.P. Inc., DermaRite Industries LLC., Derma Sciences Inc., Hollister Incorporated, ConvaTec, Johnson and Johnson and DeRoyal Industries Inc.
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