Latest News:- Patch-Based Wound Healing Market: Acute wounds is expected to lead the Application segment during 2024-2028

Patch-Based Wound Healing Market to grow at a CAGR of 4.5% during 2024-2028

The Patch-Based Wound Healing Market is expected to grow at a CAGR of 4.5% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 306.9 million. In both developed and developing nations, the expansion of healthcare infrastructure, including the construction of new hospitals and surgical centers, is driving significant demand for advanced medical equipment. For instance, the UK government's pledge to invest USD4.3 billion in 40 hospitals and support schemes for 48 more by 2030 underscores this trend. Similarly, developing countries like India and China have made considerable strides in healthcare infrastructure development, with 19 operational All India Institutes of Medical Sciences (AIIMS) institutions in India and five more expected by 2025. This growth in healthcare infrastructure necessitates the acquisition of advanced wound healing technologies, such as patch-based systems, to meet the increasing patient demand. 

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The Acute wounds subsegment is expected to dominate the Application segment during the forecast period 

Technavio analysts predict that the Acute wounds subsegment will lead the Application segment during 2024 and 2028 The patch-based wound healing market represents a significant business opportunity, driven by the increasing prevalence of chronic wounds and the growing demand for advanced wound care solutions. These patches utilize innovative technologies such as hydrocolloids, foams, and hydrogels to promote wound healing, reduce infection risk, and enhance patient comfort. Market growth is further fueled by regulatory approvals, strategic collaborations, and technological advancements in this sector.

Here are the various ways based on which the market is segmented: 

• Application
  • Acute wounds
  • Chronic wounds
• Geography
  • North America
  • Europe
  • Asia
  • Rest of World (ROW)

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There are several factors that are causing the market to flourish increasing demand for advanced wound healing products

Learn which are the obstacles that the market is experiencing in the way of its growth by accessing the free PDF report

Research Analysis Overview

The Patch-Based Wound Healing Market encompasses a range of advanced dressing products, including transparent dressings, hydrocolloid dressings, and composite dressings, that utilize patch technology to enhance the healing process of various types of wounds. These patches contain bioactive components that promote epithelialization, inflammatory response, proliferative stage, and remodeling stage during the healing process. Surgical Site Infections (SSIs) are a significant concern in healthcare settings, particularly following elective surgeries and traumatic injuries such as road accidents. Patch-based wound healing solutions, infused with antimicrobial agents like Povidone-iodine formulation, play a crucial role in preventing SSIs and ensuring rapid wound healing. Chronic patients, such as those with Diabetic foot ulcers or Venous leg ulcers, greatly benefit from these advanced wound care solutions. Transparent dressings, for instance, facilitate wound observation, while hydrocolloid dressings absorb wound exudate, maintaining a moist environment for optimal healing. Collagen formulation patches further accelerate the healing process by stimulating tissue regeneration. Burns and transport injuries also fall under the purview of this market. The use of patch technology in wound healing has been instrumental in reducing scar formation and minimizing the need for surgical interventions. Dermatology services and healthcare settings continue to adopt these advanced wound healing solutions to provide effective care for a wide range of patients.

Market Research Overview

According to Technavio, the patch-based wound healing market is a significant segment of the expansive global healthcare equipment market. This market encompasses organizations involved in the research and development (R&D) of patch-based wound healing solutions, which fall under the consumables category within the healthcare equipment industry. The global healthcare equipment market size is determined by the consolidated revenue generated by manufacturers of diagnostic equipment and devices utilized across diverse therapy areas. The healthcare equipment sector is segmented into devices, which includes advanced, differentiated, and clinically tested data-driven devices. The patch-based wound healing market is a crucial component of this devices segment.

The Patch-Based Wound Healing Market is experiencing significant growth, fueled by the increasing demand for advanced wound healing products. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Contacts

Technavio Research
Jesse Maida
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