(PharmaNewsWire.Com, January 22, 2018 ) According to Publisher, the Global Wound Care market is accounted for $18.22 billion in 2016 and is expected to reach $26.24 billion by 2023 growing at a CAGR of 5.3%. The market is ubiquitous with vast usage of these products in healing and preventing infection. Growing incidence of Hospital-acquired infections & awareness among people is driving the market. Apart from these, technological advancements and new innovative products are some other factors favoring the market. However, high cost associated with advanced wound care is inhibiting the market.
Wound Care is a competitive market with dozens of significant competitors and hundreds of smaller companies selling products designed to reduce hospital stays. Wound Management Products segment is estimated to be the fastest growing segment among product type on account of increasing geriatric population, rising incidence of chronic diseases and greater effectiveness in providing healing.
North America accounted for largest market share owing to rising awareness regarding new technologies for wound care, government support in the form of funding, and rising diabetic and aged population. Moreover, Asia Pacific is poised to be the fastest growing market attributing to increasing health awareness. The emerging generation of wound care products and technologies are well positioned to capitalize on this growth in this region.
Some of the key players in global Wound Care market include Covidien PLC (A Subsidiary of Medtronic Company) , Convatec Healthcare B S.À.R.L., Integra LifeSciences, Hollister, Inc., Ethicon, Inc. (A Subsidiary of Johnson & Johnson) , Derma Sciences, Inc., Mölnlycke Health Care AB (Subsidiary of Investor AB) , Smith & Nephew PLC, Coloplast A/S, BSN medical, Baxter International Inc., 3M Company and Acelity L.P. Inc.
Products Covered: -Exudate Management -Infection Management -Wound Management Products -Surgical Wound Care Products -Traditional and Basic Wound Care Products
Regions Covered: -North America -US -Canada -Mexico -Europe -Germany -UK -Italy -France -Spain -Rest of Europe -Asia Pacific -Japan -China -India -Australia -New Zealand -Rest of Asia Pacific -South America -Argentina -Brazil -Chile -Rest of South America -Middle East & Africa -Saudi Arabia -UAE -Qatar -South Africa -Rest of Middle East & Africa
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