Traditional Wound Management Market to Reflect a Holistic Expansion During 2021 to 2028
Traditional Wound Management Market Growth & Trends
The global traditional wound management market size is expected to reach USD 7.7 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 3.7% from 2021 to 2028. The rising incidence of chronic diseases, increasing number of accidents, and rising number of ambulatory surgery centers (ASCs) are the key driving factors for the market.
The global increase in the incidence of chronic diseases such as diabetes, cancer, and other autoimmune diseases is one of the key driving factors for market growth. Factors such as the adoption of unhealthy and sedentary lifestyles, alcohol consumption, and smoking are majorly contributing to the rise in the prevalence of non-communicable diseases. Cancer has been a global healthcare burden as it is one of the leading causes of death. Most surgical wounds post-cancer surgery are relatively large in size and deep, producing exudate that requires regular care.
The wound care products such as bandages, medical tapes, and gauze help to manage large wounds, significantly reducing the risk of further infection. According to the estimates from the WHO, in 2018, one in five men and one in six women globally develop cancer during their lifetime. Moreover, as per reports published by WHO, 18.1 million new cancer cases have been reported in 2018, globally. In addition, it also reported that over 70.0% of cancer-related deaths typically occur in middle- and low-income countries. Furthermore, the rising prevalence of chronic conditions and the number of surgeries being performed have also increased globally. Therefore, such factors are anticipated to positively impact market growth over the forecast period.
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Traditional Wound Management Market Report Highlights
- In terms of revenue, the acute wounds segment held the largest revenue share in 2020 owing to the rising cases of accidents and trauma globally
- The gauze segment held the largest share in 2020 owing to its wide range of applicability in various types of injuries and availability of numerous products
- The hospital segment dominated the market and held the largest revenue share in 2020 due to the rising cases of burns and surgeries
- In Asia Pacific, the market is expected to witness the fastest growth rate over the forecast period owing to the rising number of diabetic patients in this region
Traditional Wound Management Market Segmentation
Grand View Research has segmented the global traditional wound management market on the basis of product, application, end-use, and region:
Traditional Wound Management Product Outlook (Revenue, USD Million, 2016 – 2028)
Traditional Wound Management Application Outlook (Revenue, USD Million, 2016 – 2028)
- Chronic Wounds
- Diabetic Foot Ulcers
- Pressure Ulcers
- Venous Leg Ulcers
- Other Chronic Wounds
- Acute Wounds
- Surgical & Traumatic Wounds
Traditional Wound Management End-use Outlook (Revenue, USD Million, 2016 – 2028)
- Home Healthcare
Traditional Wound Management Regional Outlook (Revenue, USD Million, 2016 – 2028)
- North America
- Asia Pacific
- Latin America
- South Africa
- Saudi Arabia
List of Key Players of Traditional Wound Management Market
- Braun Melsungen AG
- Johnson & Johnson Pvt. Ltd.
- Medtronic PLC
- Smith & Nephew
- PAUL HARTMANN AG
- Cardinal Health
- Mölnlycke Health Care AB
- Derma Sciences Inc.
- Medline Industries, Inc.
- BSN Medical
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.