Increasing incidences of chronic injuries coupled with an increase in awareness for healthy wellbeing is estimated to stimulate market demand.
Market Size – USD 8.38 billion in 2018, Market Growth – CAGR of 6.1%, Market Trends – Rise in the number of surgical procedures
NEW YORK, May 16, 2019 (GLOBE NEWSWIRE) — The global bioactive wound care market is expected to reach USD 13.50 Billion by 2026, according to a new report by Reports and Data. Bioactive wound care comprises wound dressings that have biodegradable properties and are capable of combating microbial infections. These kind of dressings aid in faster healing of the wounds along with infection control.
Increasing incidences of chronic injuries, which would require enhanced wound care, coupled with an increase in awareness among people for healthy wellbeing is anticipated to drive the market growth in the future. Of late, an increase in the number of surgical procedures is expected to play a significant role in fueling the market demand. Further, an increase in the number of elderly people who are more prone to injuries would have a positive impact on the growth of the market in the forecast period 2019-2026.
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With an increase in the level of disposable income, there is a growing demand for advanced wound care as improper wound management may have a severe negative impact on patients’ health and in some cases may even lead to death. As a result, this factor is likely to boost the market demand in the forecast period.
Additionally, increased investments in research and development activities to come up with new and improved products is expected to propel the market growth in the upcoming years.
High cost associated with these products as well as the availability of substitute wound care products may create hindrances in the growth of the market in the forecast period.
Further key findings from the report suggest
- Based on product type, moist wound care dominated the market with over 65.0% market share in 2018 and is forecasted to witness a growth rate of 5.8% in the forecast period. Moist wound care dressings produce and maintain a wet environment, around the wound, which is favorable for effective curing of the wound. These products are recommended for the treatment of chronic wounds.
- Chronic wounds contributed to the largest market share in 2018 and are expected to have a CAGR of 5.9% in the forecast period.
- The market in the Asia Pacific region is projected to witness the fastest growth rate of 6.5% in the forecast period. The increase in the target population in this region is expected to drive the market growth in the upcoming years. Players in the market from this region have ample opportunities to increase their profitability through effective marketing campaigns.
- In the U.S., cutaneous ulcer, a chronic wound, costs the economy more than USD 25.00 billion per year for treatment.
- In Great Britain, the expenditure on the venous ulcer is around GBP 4.00 billion per year, with approximately 1% of the European population affected by chronic venous ulcers.
- Key participants in the market include 3M Healthcare Ltd., Smith & Nephew PLC, Molnlycke Healthcare AB, Coloplast A/S, ConvaTec Inc., Paul Hartmann AG, Organogenesis Inc., Medtronic PLC, BSN Medical Inc., and Covalon Technologies Ltd. among others.
- In March 2019, Organogenesis Holdings Inc., a significant company in the market, announced that a new study suggests that PuraPly® Antimicrobial (PuraPly AM) positively influences the healing process in a wide range of complex, chronic wounds that were earlier unresponsive to treatment.
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/bioactive-wound-care-market
Segments covered in the report:
For the purpose of this report, Reports and Data have segmented global bioactive wound care market on the basis of product type, wound type, end-user, and region:
Product Type Outlook (Revenue, USD Million; 2016-2026)
- Moist Wound Care
- Alginate Wound Dressing
- Foam-Based Wound Dressing
- Hydrocolloid Dressing
- Active Wound Care
- Skin Substitutes
- Collagen Dressing
- Keratin Dressing
- Cell Based Therapy
- Antimicrobial Wound Care
- Silver Based Wound Dressing
- Iodine Based Wound Dressing
- Chitosan Based Wound Dressing
Wound Type Outlook (Revenue, USD Million; 2016-2026)
- Chronic Wound
- Acute Wound
End-user Outlook (Revenue, USD Million; 2016-2026)
- Ambulatory Care Services
- Hospitals and Clinics
Regional Outlook (Revenue, USD Million; 2016-2026)
- North America
- Asia Pacific
- Latin America
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