The global wound care market size generated a revenue of $24,482.9 million in 2015 and is projected to advance at a 6.7% CAGR during the forecast period (2016–2022). The market is growing due to the rising geriatric population, increasing road accidents, surging incidence of chronic wounds, rising volume of surgeries, and increasing burn cases. Different wound care products, namely traditional wound care products, wound closure products, and advanced wound care products, are utilized for treating various kinds of wounds. These products are used in both outpatient and inpatient facilities.
When application is taken into consideration, the wound care market is categorized into burn, ulcer, and surgical wound. Among these, the surgical wound category dominated the market during the historical period (2012–2015) and is expected to account for the major share of the market during the forecast period as well. In terms of wound type, the market is bifurcated into acute and chronic wound. Between these, the larger share of the market was held by the chronic wound classification during the historical period, which is going to retain its position during the forecast period.
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Among all the regions, namely Europe, Asia-Pacific, North America, and Rest of the World, North America accounted for the largest share of the wound care market during the historical period. The Asia-Pacific region is projected to witness the fastest CAGR during the forecast period. On the basis of end user, the market is divided into outpatient and inpatient facilities. Between these, the market was dominated by the inpatient facilities division during the historical period and the situation is going to be the same during the forecast period as well.
The growing volume of surgeries is a key driving factor of the wound care market. The rising prevalence of chronic diseases and other lifestyle associated diseases are resulting in the rising number of surgeries. Incisions are made on the body during surgeries which leads to the formation of wounds, attributed to which wound care products are utilized in almost all surgical procedures for cleaning and treating the wound. In addition to this, different wound care products are also commonly used for preventing infection and reducing recovery time after the surgery.
The increasing burn cases around the world is also a major driving factor of the wound care market. Burns caused by different factors, such as friction, heat, electricity, radiation, and chemicals, result in severe loss of tissue, blood vessels, and skin. Traditional and advanced wound care products, such as sponges, artificial skin and substitutes, hydrocolloid dressing, gauzes, bandages, collagen dressing, and hydrogel dressing, are used for the treatment of burns. Furthermore, wound closure products, including staples, fibrin sealants, and sutures, are utilized as adjunct therapeutic options for treating burns.
Hence, the market is growing due to the surging number of road accidents, burn cases, and increasing volume of surgeries.
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