CHICAGO, Nov. 6, 2019 /PRNewswire/ -- According to Arizton's recent research report, Bioactive Wound Care Market - Global Outlook and Forecast 2019-2024 is expected to grow at a CAGR of approximately 7% during the forecast period.
Key Highlights Offered in the Report:
1. Wound care biologics are clinically advanced and gaining wide popularity globally due to its better safety and efficacy compared to conventional wound care products. As a result, the segment is likely to witness an incremental growth of over $480 million during the forecast period.
2. The development of advanced bioactive wound care products, such as combination wound dressings containing multiple ingredients is anticipated to boost the demand for these products.
3. APAC is one of the fastest growing regions recording the highest absolute growth of over 63%. In contrast, North America, which dominates the global bioactive wound care market, will witness the least absolute growth of 41% during the forecast period.
4. Among all countries, India is likely to witness the highest absolute growth of over 72% by 2024.
5. Developed countries like the US, Germany, Japan, France, and the UK are mature markets for bioactive wound care products and are witnessing slower growth than developing countries like India, China, Brazil, Mexico, and South Africa.
- Market Size & Forecast by Revenue | 2018−2024
- Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
- Market Segmentation – A detailed analysis by products, end-users, wound type, distribution, and geography.
- Competitive Landscape – Profile of 6 key vendors and 30 other vendors.
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Bioactive Wound Care Market – Segmentation
- The introduction of broad range of dressing offerings by vendors and several ongoing clinical trials to increase the efficacy of these products is fueling the growth of antimicrobial dressings in the global market.
- The exponential increase in surgical site infections is contributing to the phenomenal growth of acute wound care management.
- Increasing prevalence of acute infections, growing number of surgical procedures, and the increasing awareness about advanced wound care products is expected to fuel the growth of the market during the forecast period.
Market Segmentation by Products
- Antimicrobial Dressings
- Wound Care Dressings
- Hydrocolloid Dressings
- Alginate Dressings
- Collagen Dressings
Market Segmentation by Wound Type
Market Segmentation by End-users
- Hospitals and Specialty Wound Care Clinics
- Long-term Care Facilities
- Home Healthcare
- Others (ASCs, solo practitioners, and other acute care settings)
Bioactive Wound Care Market – Dynamics
Biologic wound healing therapy products mostly consists of tissue-engineered skin substitutes and growth factors. Wound biologics are intended to facilitate the re-establishment of the innate repair mechanisms, which involve the application of active biological agents, such as plant-derived active biomolecules that exhibit antioxidant, antimicrobial, or anti-inflammatory attributes. Wound care biologics are mostly used for non-healing chronic and acute wounds such as diabetic foot ulcers, second and third-degree burns, pressure ulcers, superficial injuries, cuts, and abrasions. These factors are expected to boost the adoption of biologics for wound care.
Key Drivers and Trends fueling Market Growth:
- Increasing Incidences of Acute and Chronic Wounds
- High Demand for Medicated Wound Dressing Products
- Emergence of Stem Cell Therapy
- Advent of Smart Bioactive Wound Dressings
Bioactive Wound Care Market – Geography
The growing population suffering from several acute and chronic infections is the primary factor contributing to the growth of market in North America. Favorable government initiatives and improved healthcare infrastructure is resulting in APAC becoming the fastest-growing region in the global bioactive wound care market. Brazil, Mexico, and Argentina are the major revenue contributors to the market in Latin American. Turkey, South Africa, Saudi Arabia, and Iran are the largest revenue generators in MEA. The growing frequency of acute infections among patient population with chronic diseases, high healthcare expenditure, and a large middle-class population with high spending power is helping the market to grow within MEA region.
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Market Segmentation by Geography
- North America
- Latin America
- Mölnlycke Health Care
- PAUL HARTMANN
- Smith & Nephew
Other vendors include - Advancis Medical, AediCell, AMERX Health Care, Aspen Surgical, Axio Biosolutions, B. Braun Melsungen, BD, BSN medical, BTI Biotechnology Institute, Cardinal Health, CGbio, Covalon Technologies, DermaRite Industries, DeRoyal Industries, Ethicon, Hollister, Integra LifeSciences, Kaken Pharmaceutical, Lohmann & Rauscher (L&R), Medline Industries, MiMedx, MPM Medical, MTF Biologics, Organogenesis, SK Bioland, Sutherland Medical, TRIAGE MEDITECH, URGO Group, and Vericel.
Explore our healthcare & lifesciences profile to know more about the industry.
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