Latest News- Wound Care Market: Advanced wound dressings is expected to lead the Product segment during 2024-2028
The Wound Care Market is being driven by Increasing prevalence of acute and chronic wounds
The Wound Care Market is expected to grow at a CAGR of 5.8% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 6952.4 million. In the dynamic and evolving wound care market, antimicrobial agents such as silver, iodine, and honey are gaining significant traction. Advanced wound dressings, incorporating these antimicrobial agents, are increasingly preferred due to their ability to enhance the efficacy of wound treatment. These dressings boast multiple advanced chemical and physical properties, making them suitable for both partial and full-thickness wounds. End-users are increasingly opting for combination dressings, which offer a multitude of advantages, including ease of use, widespread availability, and the provision of multiple wound care functions, such as absorption, adhesion, and protection against bacterial infection. These combination dressings are engineered to combine physically distinct components into a single dressing, ensuring optimal healing outcomes.
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Which Factors Are Causing a Surge in Market Growth?
The market is segmented based on Product (Advanced wound dressings, Surgical wound care, Traditional wound care) Application (Chronic wound, Acute wound) Geography (North America, Europe, Asia, Rest of World (ROW)).
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
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Key Features in Wound Care Market Research Report
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The Wound Care Market encompasses a range of smart dressings and advanced products designed to promote healing in traumatic injuries, burn injuries, surgical site infections, and chronic diseases such as diabetic foot ulcers. Traditional wound care methods have been surpassed by advanced wound care solutions, including hydrocolloid dressings, which offer moisture retention and effective infection prevention. Ambulatory Surgical Centers (ASCs) and healthcare facilities increasingly adopt these advanced wound care solutions for acute and surgical procedures. Traumatic wounds and non-traumatic amputations also benefit from these advanced products. However, high costs and limited accessibility remain significant challenges in the market. Cardinal Health and other key players in the market offer a range of devices and dressings to cater to the diverse needs of patients. Chronic diseases like diabetes and sedentary lifestyles contribute to the increasing prevalence of wounds. Surgical procedure-related wounds and chronic wounds require specialized care, driving the demand for advanced wound care solutions. Surgical site infections and moisture retention are critical concerns in wound care. Biological skin substitutes and regenerative medicine are emerging trends in the market, offering innovative solutions to address these challenges. Healthcare education and awareness are essential to improving accessibility and reducing medical expenditures for patients.
According to Technavio, the market for wound care falls under the expansive umbrella of the global healthcare equipment industry. This sector encompasses entities involved in the research and development (R&D) of diverse product categories, such as capital equipment, instruments, implants, accessories, and consumables. These products are utilized in the diagnosis, monitoring, and treatment of various health conditions. Technavio's calculation of the global healthcare equipment market size is determined by the collective revenue generated by manufacturers of diagnostic equipment and devices spanning various therapy areas. The healthcare equipment sector is segmented into Devices, which incorporates advanced, differentiated, and clinically validated data-driven devices.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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