(PharmaNewsWire.Com, March 11, 2021 ) In 2019, the hospitals & clinics segment accounted for the largest market share as these systems are used in healthcare facilities to enhance patient satisfaction, improve quality of care, and increase the productivity of caregivers. Furthermore, these systems are used widely by hospitals and healthcare providers for critical cases; hospitals also have better healthcare infrastructure and staff, making them the largest segment.
The global wound care market is projected to reach USD 24.8 billion by 2024 from USD 19.8 billion in 2019, at a CAGR of 4.6% from 2019 to 2024. The emerging economies such as India, China, and Brazil are expected to provide a wide range of opportunities for players in the industry, which is driven by growing healthcare infrastructure, increasing diabetic population, vast population pool, in and the increasing healthcare spending.
Key 20 players covered, including Smith & Nephew plc (UK), Acelity L.P. Inc. (US), Mölnlycke Health Care AB (Subsidiary of Investor AB) (Sweden), Ethicon, Inc. (A Subsidiary of Johnson & Johnson ) (US), Convatec Group Plc (UK), Baxter International Inc. (US), Coloplast A/S (Denmark), Paul Hartmann AG (Germany), Medtronic plc (Ireland), 3M Company (US), Integra LifeSciences Holding Corporation (US), Mimedx Group (US), Lohmann & Rauscher International GmbH & Co. KG (Germany), DeRoyal Industries, Inc. (US), Organogenesis Holdings Inc. (US), Kerecis (Iceland), ACell (US), IonMed (Israel), Talley Group Ltd (UK), Medela AG (Switzerland)
“Asia Pacific to grow at the highest rate during the forecast period (2019–2024)”
The wound care market in Asia Pacific is expected to grow at a high pace in the coming years. The factors attributing for the high growth of the Asia Pacific region, rising geriatric population, a growing number of surgeries, increase in healthcare expenditure, expansion of the healthcare infrastructure, and vast patient pool. However, the North American and European markets will account for a large share due to mature economies and the presence of major players in the region.
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