Market Research Report
Traditional Wound Management Products
|Traditional Wound Management Products|
Published: July 1, 2022
Global Industry Analysts, Inc.
Content info: 570 Pages
Delivery time: 1-2 business days
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Global Traditional Wound Management Products Market to Reach $6.4 Billion by 2026
Traditional wound care products are widely used as primary as well as secondary dressings to protect the wound from contamination. Steered by robust increase in wound care requirements in verticals such as surgical wounds, trauma, lacerations, diabetic ulcers, venous ulcers, burns, and pressure ulcers, demand for various traditional wound dressings such as gauzes, bandages, body netting, cohesive wraps, composite dressings, and non-adherent dressings, exhibited progressive growth. Furthermore, aging population, growing incidence of lifestyle diseases like obesity and diabetes, favorable medical reimbursement policies in various countries, and advancements in medical technology, among other factors have aided market expansion. The trend towards self-care is a major force widening market opportunities in the category. With medical costs surging incessantly, people prefer to take care of minor wounds and injuries themselves, which has led to increase in demand for products that promote healing faster at one`s home. Evolving wound care practices in ambulatory care as well as outpatient centers potentially enhance the future prospects for traditional wound management products. In these settings, traditional products gain traction because of their low-cost and easy availability as compared to advanced wound care products.
Amid the COVID-19 crisis, the global market for Traditional Wound Management Products estimated at US$5.5 Billion in the year 2022, is projected to reach a revised size of US$6.4 Billion by 2026, growing at a CAGR of 3.7% over the analysis period. Gauzes, one of the segments analyzed in the report, is projected to record a 3.8% CAGR and reach US$3.4 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Bandages segment is readjusted to a revised 2.8% CAGR for the next 7-year period. Gauzes are made with thin, breathable fabric in woven and versatile designs, and are intended for direct application on the wound. These dressings help keep the wound clean and allow faster healing. Use of cotton gauze remains widespread in medical dressings, wound adhesions and other areas. Bandages, particularly adhesive tapes and bandages, continue to witness growing application, given their extensive usage in sports medicine and in first aid for the treatment of minor injuries.
The U.S. Market is Estimated at $1.1 Billion in 2022, While China is Forecast to Reach $945.9 Million by 2026
The Traditional Wound Management Products market in the U.S. is estimated at US$1.1 Billion in the year 2022. China, the world`s second largest economy, is forecast to reach a projected market size of US$945.9 Million by the year 2026 trailing a CAGR of 5% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.8% and 3.6% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.5% CAGR. The US and Europe represent the major markets for traditional wound management products. The demand for these products in Europe is driven by declining prices of advanced dressings, while growth in the US market is being driven by proliferation of ambulatory surgical centers. Increasing healthcare costs, rising life expectancies, heightened awareness about the benefits of timely wound management, changing lifestyles, and rise in home patient care trends are driving demand in developing regions.
Acute Wounds Segment to Reach $4.2 Billion by 2026
Surgical incisions, burns and other small wounds are usually referred to as acute wounds. Growth in the segment is led by rising use of topical ointments that help fight infection and/or decrease pain, thereby hastening the wound healing process. In the global Acute Wounds segment, USA, Canada, Japan, China and Europe will drive the 3.3% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$2.6 Billion will reach a projected size of US$3.3 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$540.8 Million by the year 2026, while Latin America will expand at a 3.8% CAGR through the analysis period.
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