AUG 19,2021/IndustryNewsGlobal/ The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Global Wound Care Products Market.

The Global Wound Care Products Market is estimated to grow from USD 20.2 billion in 2020 to USD 27.0 billion by 2026 at a healthy CAGR of 5.1% during the forecast period.

Wound care products are defined as products that help to heal wounds and control infection effectively. Some of the commonly used types of wound care products include collagen products, hydrocolloids, foam dressings, antimicrobial dressings, gauze, and film dressings among others. Wound care products are used to treat various types of wounds such as acute wounds, chronic wounds, and surgical wounds.

Market Dynamics:

The global market growth is primarily driven by increased spending on the healthcare industry coupled with rising geriatric populations.

  • The increasing prevalence of chronic diseases such as diabetes and cardiovascular diseases among others due to busy lifestyles and unhealthy diets is expected to propel the market growth at a significant rate during the review period.
  • Growing emphasis on the development of advanced wound care products by the key market players is likely to create lucrative market growth opportunities.

Segment Analysis

End User Trends

Based on end user, the market has been divided into hospitals and specialty wound care clinics, long term care facilities, and home healthcare.

  • Hospitals and specialty wound care clinics accounted for the largest share in 2020 on account of widespread product usage and rising number of hospitals and clinics.
  • The long term care facilities segment is likely to register healthy growth during the review period.

Regional Trends

The market in Europe accounted for the largest share in 2020 due to the presence of an established healthcare industry and key market players such as Smith and Nephew Plc. (U.K).

  • Additionally, the high demand for advanced wound care products coupled with the rising geriatric population in the developed markets is another factor fuelling the product demand.
  • The market in the Asia-Pacific region is projected to register a healthy growth rate on account of high product in developing countries including India and China with increased spending on healthcare infrastructure development.

Key Players:               

  • 3M Health Care (The U.S),
  • Smith and Nephew Plc. (UK),
  • Integra Lifesciences Corporation (The U.S),
  • Acelity L.P., Inc. (The U.S),
  • Molnlycke Health Care (Sweden),
  • ConvaTec, Inc. (The U.S),
  • Organogenesis Inc. (The U.S),
  • Coloplast Corp. (Denmark),
  • Medline Industries, Inc. (The U.S),
  • MPM Medical, Inc. (The U.S),
  • Derma Sciences (The U.S), and
  • Medtronic plc (Ireland).

Features of the Report

This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.

The Global Wound Care Products Market

 analysis report discusses the following heads in great detail:

  • Market structure: Overview, industry life cycle analysis, supply chain analysis
  • COVID-19 Impact Assessment
  • Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
  • Market trend and forecast analysis
  • Market segment trend and forecast
  • Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
  • Attractive market segments and associated growth opportunities
  • Emerging trends
  • Strategic growth opportunities for the existing and new players
  • Key success factors