Global Traditional Wound Management Products Market To Reach $ 6.4 Billion By 2026
SAN FRANCISCO, August 6, 2021 / PRNewswire / – A new market study released by Global Industry Analysts Inc., (GIA), the leading market research firm, today released its report titled “Traditional Wound Management Products – Global Market Trajectory and Analysis”. The report presents new perspectives on the opportunities and challenges in a dramatically transformed post-COVID-19 market.
FACTS AT A GLANCE
Editing: 19; Posted: May 2021
Executive pool: 13851
Companies: 100 – Players covered include 3M Health care; B. Braun Melsungen AG; Beiersdorf SA; Cardinal Health, Inc .; Cream SA; Johnson & Johnson; Medline Industries, Inc; Mölnlycke Health Care AB; Paul Hartmann SA; Vernacaré; Zee Medical and others.
Blanket: All major geographies and key segments
Segments: Product (gauzes, dressings, other products); Application (acute wounds, chronic wounds); End use (hospitals, clinics, home care, other end uses)
Geographies: World; United States; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia Pacific; Australia; India; South Korea; Rest of Asia Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UNITED ARAB EMIRATES; Rest of Middle East; Africa.
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Global Traditional Wound Management Products Market To Reach $ 6.4 billion by 2026
Traditional wound care products are widely used as primary and secondary dressings to protect the wound from contamination. Driven by a sharp increase in the need for wound care in vertical sectors such as surgical wounds, trauma, lacerations, diabetic ulcers, venous ulcers, burns and bedsores, the demand for various traditional dressings such as gauzes, bandages, body nets, cohesive wraps, composites, and non-adherent dressings exhibited gradual growth. In addition, the aging of the population, the increasing incidence of lifestyle-related diseases such as obesity and diabetes, favorable medical expense reimbursement policies in various countries, and advances in medical technology, among other factors. , have contributed to the expansion of the market. The trend towards self-care is a major force that is expanding the market opportunities in the category. With medical costs rising steadily, people prefer to take care of minor injuries and injuries themselves, which has resulted in an increased demand for products that promote faster healing at home. Evolving wound care practices in outpatient care as well as outpatient care centers potentially improve the future prospects of traditional wound management products.
In the midst of the COVID-19 crisis, the global market for traditional wound care products is estimated at US $ 5.2 billion in 2020, is expected to reach a revised size of 6.4 billion US dollars by 2026, with a CAGR of 3.7% over the analysis period. Gazes, one of the segments analyzed in the report, is expected to register a CAGR of 3.8% and reach 3.4 billion US dollars at the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, the growth of the Bandages segment is readjusted to a revised CAGR of 2.8% for the next 7 year period. Gauzes are made with a fine, breathable fabric in woven and versatile designs, and are intended for direct application to the wound. These dressings help keep the wound clean and allow for faster healing. The use of cotton gauze remains prevalent in medical dressings, wound adhesions and other areas. Bandages, especially adhesive tapes and bandages, continue to gain increasing application, given their wide use in sports medicine and first aid for the treatment of minor injuries.
The US market is estimated at $ 1.1 billion in 2021, when China is expected to reach $ 945.9 million by 2026
The market for traditional wound management products in the United States is estimated at US $ 1.1 billion in 2021. China, the world’s second-largest economy, is expected to reach a projected market size of US $ 945.9 million by 2026, with a CAGR of 5% over the analysis period. Other notable geographic markets include Japan and Canada, each projects growth of 2.8% and 3.6% respectively over the analysis period. In Europe, Germany is expected to grow at around 3.5% CAGR. The United States and Europe represent the main markets for traditional wound care products. The demand for these products in Europe is driven by lower prices for advanced dressings, while the growth of the US market is driven by the proliferation of outpatient surgical centers. Rising healthcare costs, increasing life expectancy, heightened awareness of the benefits of prompt wound management, changing lifestyles and increasing trends in home care are stimulating demand in developing regions.
Acute wound segment to be reached $ 4.2 billion by 2026
Surgical incisions, burns, and other small wounds are generally referred to as acute wounds. Segment growth is driven by the increasing use of topical ointments which help fight infection and / or decrease pain, thereby speeding up the wound healing process. In the global acute wound segment, United States, Canada, Japan, China and Europe will drive the estimated 3.3% CAGR for this segment. These regional markets representing a combined market size of 2.6 billion US dollars in 2020 will reach a projected size of 3.3 billion US dollars before the end of the analysis period. China will remain among the most dynamic of this group of regional markets. Led by countries such as Australia, India, and South Korea, the market of Asia Pacific should reach US $ 540.8 million by 2026, while Latin America will increase at a CAGR of 3.8% throughout the analysis period. Following
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