Rise in the awareness initiatives for the treatment compliance of chronic wounds, and increase in manufacturer focus on development of novel wound healing technologies are likely to fuel the expansion of global wound healing market by 2025.
Albany, NY -- (SBWIRE) -- 04/10/2018 -- A fresh study, titled "Wound Healing Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2025" has been added to the wide repository of Market Research Hub (MRH), which provides comprehensive analysis on the market current scenario as well as future growth prospects till the end of 2026. For a clear understanding, the research majorly focuses on some prime regions such as Europe, North America, Asia Pacific, Latin America and Middle East & Africa. According to the research key findings, the demand for wound healing devices is expected to drive the growth of the market in the coming years.
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In order to provide clear and accurate results, the global market study on wound healing consists of market size, Y-o-Y growth and CAGR during the projected period of 2017-2022. The report majorly covers different sections on market definition, market dynamics including the key drivers, restraints and trends that are governing the market. The dynamics are based on different micro and macroeconomic factors prevailing in the industry during the forecast period. In addition, Porter's Five Force Analysis, regulatory scenario by region/globally; and key mergers & acquisitions among key players are also profiled.
Key Insights from the Study
Wound Healing market was valued roughly US$ 23,317.7 Mn in 2016 and is anticipated to record CAGR of over 4.8% from 2017 to 2025 to reach value of approximately US$ 35,065.7 Mn by 2025. Presently, the introduction of numerous scientifically advanced wound healing products by important players across the globe is a major driving factor for the growth of the wound healing market.
As the name suggests, the wound healing is a process in which skin itself repairs the wounds after injury. The wound healing agents act in various areas of clinical activity, which comprise reducing the infection and inflammation, sinking the patient's pain, eliminating necrotic tissues, and assisting in wound closure. Early diagnosis of wounds and introduction of advanced therapy devices are likely to increase the patient pool with acute and chronic wound. To overcome this, manufacturers are developing novel wound healing technologies which are estimated to boost the market growth of wound healing.
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Moving further, the global wound healing market is segmented on the basis of product type, wound type, and gender. By product, the global wound healing market is divided into dressings, bandages, topical agents, wound closure agents, gauzes & sponges, tapes, therapy devices, and others. Based on the wound type, the global wound healing market is segmented into chronic wounds and acute wounds. This study observes that women accounted for a maximum market share in terms of value in 2016, and are expected to continue to remain dominant during the forecast period.
At present, major players active in the wound healing market are Smith & Nephew plc, Integra LifeSciences Corporation, Organogenesis Inc., Mölnlycke Health Care AB, 3M Healthcare, Ethicon, Inc. (Johnson & Johnson), Hill-Rom Holdings, Inc., Cardinal Health, ConvaTec Inc., BSN medical (Svenska Cellulosa Aktiebolaget SCA), Coloplast Group, Medline Industries, Inc., Hollister Incorporated, and others.
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