Skin and Wound Care Market by Product (Central Advanced Wound Management Products, Surgical Products, Traditional Products), Type, End User, Region, Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2018 to 2025

Newark, NJ, March 04, 2020 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, theglobal skin and wound care market is expected to grow from USD 18.49 Billion in 2017 to USD 25.98 Billion by 2025 at a CAGR of 3.84% during the forecast period 2018-2025. Increasing prevalence of diabetes, rising geriatric population, awareness programs for wound care treatment & management, increasing funding for research and growing number of road accidents & trauma injuries globally are the factors fuelling the skin and wound care market.

Skin and wound care is a major health care concern that affects many individuals with different types of wounds and consumes vast resources. Wounds have varying effects on the quality of life of those affected, their families and caregivers. Providing skin and wound care is a major common consideration in the day to day caring for patients with wounds whether in the acute, long term or community-based environments. The skin and wound care products are designed to cure and treat complex wounds and also does not cause any allergy to the skin. For instance, in 2019, Axio Biosolutions launched MaxioCel, an advanced wound care product. With MaxioCel, the next generation Chitosan-based advance wound care product Axio strengthened its position in the wound care market.

Increasing incidence of diabetes, rising geriatric population, awareness plans for wound care treatment and management, and surge in funding for research globally are the key driving factors for the skin and wound care market. In addition, the growing number of road accidents and trauma injuries will lead to the growth of the skin and wound care market in a couple of years. The high cost of advanced products, risks associated with products, and reluctance in the adoption of new technologies may limit the growth of the market. However, growing research in the field of advanced wound care, potential application of stem cell therapy, emerging economies, and growing popularity of active wound care products is expected to boost the skin and wound care market over the forecast period.

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Key players operating in the global skin and wound care market include Smith & Nephew plc., Acelity L.P. Inc., ConvaTec Group Plc., 3M Company, Ethicon, Mlnlycke Health Care AB, Covidien plc, Coloplast A/S, Derma Sciences, Inc., Hollister Incorporated, Baxter International Inc., Bsn Medical GmbH, Deroyal Industries, Inc., Novabay Pharmaceuticals, Inc., Leap Therapeutics Inc., Hematris Wound Care GmbH, Alliqua Biomedical, Inc., Triage Meditech Pvt. Ltd, and among others. To enhance their market position in the global Skin and Wound Care market market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint venture, collaborations, and partnership.

Advanced wound management segment held highest market size around USD 6.89 billion in 2017

Products segment covers advanced wound management products, surgical products, and traditional products. The advanced wound management products segment further includes advanced wound dressings, wound therapy devices, and active products. The surgical products segment further covers sutures and staples, tissue adhesives, sealants, and glues, and anti-infective dressings. The traditional products segment medical tapes, dressings, and cleansing agents. The advanced wound management products segment held highest market size around USD 6.89 billion in 2017 owing to increasing incidence of diabetes and increasing demand for innovative & advanced wound management products.

Hospitals & specialty clinics segment is anticipated to grow with highest CAGR 4.05% over the forecast period

End user segment is divided into hospitals & specialty clinics, long-term care, and home healthcare. The hospitals & specialty clinics segment is sub segmented into inpatient and outpatient. The hospitals & specialty clinics segment held highest market share of 43.28% over the forecast period. This is attributable to increasing number of chronic wound cases, increasing incidence of diabetes, and improving hospital infrastructure in developing countries.

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The chronic wounds segment held highest market size of USD 9.91 billion in 2017

Type segment includes chronic wounds and acute wounds. The chronic wounds segment is further divided into diabetic foot ulcers (DFUS), pressure ulcers, venous leg ulcers, and other. The acute wounds segment further divided into surgical & traumatic wounds and burns. The chronic wounds segment held highest market size of USD 9.91 billion in 2017 due to increasing incidence of diabetic foot ulcers, pressure ulcers, and other types of chronic wounds.

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Regional Segment Analysis of the Skin and Wound Care Market

The market is analysed on the basis of five regions namely North America, Europe, Asia Pacific, South America, and Middle East and Africa. North America region held the largest market size of around USD 7.23 billion in 2017 where as the Asia Pacific region held the second dominant position in the global skin and wound care market. Increasing concern for skincare products, presence of major players, and rapid technological advancements are some of the factors that led to the growth of skin and wound care market in North America region. Asia Pacific region is anticipated to grow with highest CAGR during the forecast period due to the increasing focus of major players in emerging Asian countries and government support.

About the report:

The global skin and wound care market is analysed on the basis of value (USD Billion),. All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porters five forces model, attractiveness analysis, competitor position grid analysis, distribution and marketing channels analysis.

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Global Skin and Wound Care Market Is Expected to Reach USD 25.98 Billion by 2025 : Fior Markets - Yahoo Finance