Market Research Report
Bioactive Wound Care Market with COVID-19 Impact Analysis, By Product Type, By Application, By End Users, and By Region - Size, Share, & Forecast from 2021-2027
|Published by||AnalystView Market Insights||Product code||984987|
|Published||Content info||269 Pages
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|Bioactive Wound Care Market with COVID-19 Impact Analysis, By Product Type, By Application, By End Users, and By Region - Size, Share, & Forecast from 2021-2027|
|Published: January 1, 2021||Content info: 269 Pages||
The global bioactive wound care market was valued at USD 8.23 billion by 2019, growing with 6.3% CAGR during the forecast period, 2021-2027.
The bioactive wound care dressing is a sterile pad consisting of a bioactive substance that controls and cures chronic and acute wounds. The dressing is manufactured using different healing materials such as alginates, keratin, chitosan, elastin, collagen, and hydrocolloids. It is a cost-effective method that also fights infections and reduces leakage, pain, and odor.
The bioactive wound care market had an average growth during the historical period but is expected to have a steady growth during the upcoming years, predominantly owing to the elevating count of the elderly population pool across the globe. Besides, the mounting numbers of patients suffering from chronic conditions such as diabetes often result to have pressure sores and diabetic foot ulcers, which in turn creates the need for bioactive wound care products, boosting the business growth. For instance, the National Diabetes Statistics Report 2020, published by the Centre for Disease Control and Prevention, revealed that 34.2 million Americans are calculated to have diabetes, which is 1 out of every 10 Americans. In addition, other factors such as the increasing global cancer burden, growing cases of surgical procedures, favorable reimbursement policies, and the cost-effectiveness of the treatment also aid the revenue generation, boosting the global bioactive wound care market size.
On the other hand, lack of evidence supporting the effectiveness of moist wound dressings, accessibility to the alternative healing process, low research and development expenditure, and the intense competition among the key players are the prime growth hindering, reducing the bioactive wound care market growth. Furthermore, the robust demand for combined dressings, the emergence of the latest and upgraded treatment options with the innovation of 3D printing in wound care management are the trend settings factors accumulating the global business growth.
On the basis of product type, the alginate dressing segment is estimated to have the majority of bioactive wound care market shares, accounting for its highly absorbent nature that offers a moist wound environment, which is favorable during the treatment of dry injuries. The alginate dressing is manufactured using seaweeds, which makes it suitable for treating heavily draining wounds and surgical wounds, first and second-degree burns, etc., which further aids the segmental growth.
Based on applications, the segmental growth is dominated by the burn wounds segment followed by the surgical wounds segment, owing to the elevating count of burn incidences worldwide, especially in low-income countries such as India, Pakistan, Nepal, Bangladesh, Colombia, and Egypt. According to the World Health Organization's report, India alone accumulates to 1,000,000 people who are moderately or severely burnt every year. The stats also revealed that 17% of children with burns resulted in temporary disability, whereas 18% have a permanent disability in Bangladesh, Colombia, Egypt, and Pakistan. Such incidences further boost the business revenue generation.
The end-user segment is dominated by the hospitals and clinics owing to increasing burn incidences globally, good quality treatment, and favorable reimbursement policies. Lastly, region-wise, North America is expected to have a greater market share, accounting for the supportive reimbursement policies, increasing count of chronic wound cases, growing awareness among patients, presence of elderly population pool, and improved healthcare systems. The Asia Pacific bioactive wound care market share accounts for a high patient pool suffering from diabetes and other chronic diseases coupled with the robust demand for bioactive wound care products.
Moreover, the adoption of business strategies expanding their global presence also aids market growth. For instance, in January 2021, Direct Biologics LLC launched AmnioWrap placental-based sheet allografts for clinical use. It is a unique, tri-layer graft that cures acute and chronic wounds.
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL BIOACTIVE WOUND CARE MARKET KEY PLAYERS
3M Health Care
Advanced Medical Solutions
Aspen Surgical Products
B. Braun Melsungen
Covalon Technologies Inc.
Johnson and Johnson
Meyer-Haake Medical Innovations
Molnlycke Health Care
Paul Hartmann AG
Smith & Nephew
Systagenix Wound Management Ltd.
GLOBAL BIOACTIVE WOUND CARE MARKET, BY PRODUCT TYPE
Antimicrobial Wound Care
Other Antimicrobial Wound Care
Moist Wound Care
Active Wound Care
Cell Based Therapy
Other Active Wound Care
GLOBAL BIOACTIVE WOUND CARE MARKET, BY APPLICATION
Venous Leg Ulcers
Diabetic Foot Ulcers
GLOBAL BIOACTIVE WOUND CARE MARKET, BY END USERS
Hospitals & Clinics
Ambulatory Surgical Centers
Other End Users
GLOBAL BIOACTIVE WOUND CARE MARKET, BY REGION
Rest of Europe
Rest of APAC
Rest of LATAM
The Middle East and Africa
United Arab Emirates
Rest of MEA