Chronic Wound Care Market |2021 Analysis, Key Opportunities Major Players, Impact of COVID-19 and Size, Growth, Share, Regional Analysis With Global Industry Forecast To 2027, The global “chronic wound care market” size is projected to reach USD 16.36 billion by the end of 2027. The increasing investment in the technological integration will open up a huge potential for the growth of the overall market. According to a report published by Fortune Business Insights, titled “Chronic Wound Care Market Size, Share COVID-19 Impact Analysis, By Type (Diabetic Ulcers, Pressure Ulcers, Venous Ulcers, and Arterial Ulcers), By Product (Advanced Wound Dressings, Wound Care Devices, Active Therapy, and Others), By End User (Hospitals Wound Care Centers, and Homecare Settings Others), and Regional Forecast, 2020-2027,” the market was worth USD 10.12 billion in 2019 and will exhibit a CAGR of 6.2% during the forecast period, 2020-2027.
Chronic wounds are diseases that haven’t been successfully treated during the process of treatment of repair. The costs associated with chronic wounds are much higher than normal disease treatment. According to data published by the US National Library of Medicine, in 2018, around 5.7 million people in the United States suffered from chronic wound diseases. The high prevalence of the disease will create several growth opportunities for the companies operating in the market.
The high emphasis on early detection and treatment of chronic diseases will also contribute to market growth. Chronic wounds can result in severe conditions that can be potentially life-threatening; a factor that has created huge awareness regarding the treatment of the disease. The presence of several large scale healthcare companies, coupled with the massive investments in product RD, will emerge in favor of growth of the overall chronic wound care market in the coming years.
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Global Chronic Wound Care Market report covers extensive primary research. This is accompanied with detailed analysis of qualitative and quantitative aspects by various industry experts and key opinion leaders to gain deeper insights into the market and industry performance. The report gives a clear picture of the current market scenario, which includes the historical and forecasted market size, in terms of value and volume, technological advancement, macroeconomic, and governing factors of the market. The report provides comprehensive information about the strategies of the top companies in the industry, along with a broad study of the different market segments and regions.
List of companies profiled in the report:
- Smith Nephew (London, U.K.)
- Cardinal Health (Dublin, Ohio)
- Coloplast Corp (Humlebaek, Denmark)
- ConvaTec Inc. (England, U.K.)
- Mölnlycke Health Care AB (Gothenburg, Sweden)
- Integra LifeSciences Corporation (New Jersey, U.S.)
- 3M (Minnesota, U.S)
- Braun Melsungen AG (Melsungen, Germany)
- Tissue Regenix (West Yorkshire, U.S)
- Other Players
Constant Product Innovations will Provide Impetus to Market Growth
The report encompasses several factors that have contributed to the growth of the overall market in recent years. Accounting to the rising prevalence of chronic diseases across the world, several large scale companies are looking to invest more in product innovations with a bid to acquiring a wider consumer base. The increasing investments in product innovations will bode well for the growth of the overall market in the coming years. In February 2019, Axio Biosolutions Pvt. Ltd. announced the launch of a new advanced dressing made from an advanced product. The company announced the launch of ‘MaxioCell,’ a product that is made from chitosan. Through this product, the company will look to strengthen its position in the global market. Axio Bioslolutions’s latest product will not just benefit the company but will also have a direct impact on the growth of the overall chronic wound care market in the foreseeable future.
Chronic Wound Care Highlights of the Report:
- Market Penetration: Comprehensive information on the product portfolios of the top players in the market.
- Product Development/Innovation: Detailed insights on the upcoming technologies, RandD activities, and product launches in the market
- Competitive Assessment: In-depth assessment of the market strategies, geographic and business segments of the leading players in the market
- Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the market
Click here to get the short-term and long-term impact of COVID-19 on this Chronic Wound Care Market.Please visit: https://www.fortunebusinessinsights.com/industry-reports/chronic-wound-care-market-100222
Decrease in Hospital Visits During Covid-19 Pandemic will have an Adverse Effect on Market Growth
The recent coronavirus outbreak has instilled a sense of panic and confusion among people across the globe. The rapid spread of the disease has compelled people to stay indoors. Moreover, governments of several countries across the world have taken several efforts to curb the spread of the disease; lockdown and social distancing being the most effective measures. As a result, the number of hospital visits during the pandemic has gone down significantly. This factor will negatively affect the chronic wound care market in the immediate future.
