Market Research Report
Wound Care Market Size, Share & Trends Analysis Report By Application (Chronic, Acute Wounds), By Product (Advanced, Surgical), By End Use (Hospitals, Home Healthcare), By Region, And Segment Forecasts, 2021 - 2028
|Published by||Grand View Research, Inc.||Product code||988084|
|Published||Content info||140 Pages
Delivery time: 2-3 business days
|Wound Care Market Size, Share & Trends Analysis Report By Application (Chronic, Acute Wounds), By Product (Advanced, Surgical), By End Use (Hospitals, Home Healthcare), By Region, And Segment Forecasts, 2021 - 2028|
|Published: January 28, 2021||Content info: 140 Pages||
Wound Care Market Growth & Trends
The global wound care market size is expected to reach USD 27.21 billion by 2028 registering a CAGR of 4.1%, according to a new report by Grand View Research, Inc. Rising prevalence of chronic diseases and growing geriatric population are the key factors driving the global market. An increasing number of Ambulatory Surgical Centers (ASCs) across the globe is also anticipated to boost the market growth over the forecast period. Ambulatory surgical centers offer a variety of services, such as surgical care, diagnostics, and preventive procedures.
Surgeries for pain management, urology, orthopedics, restorative, and Gastro-Intestinal (GI)-related surgeries are also performed in ASCs. Earlier, ASCs were only capable of performing GI-related minor surgeries; however, with the rising demand for minimally invasive surgical procedures, services offered by ASCs expanded and grew exponentially. In addition, ASCs are highly cost-effective as favorable reimbursement coverages are provided for ASC services. The chances of contracting post-surgical, hospital-related infections are also reduced.
ASCs provide specific instructions to patients regarding post-surgical homecare. According to the U.S. Department of Health and Human Services (HHS) data records of 2014, there were 17.2 million hospital visits. These included invasive, therapeutic surgeries, and ambulatory surgeries. Around 9.94 million (57.8%) of these surgeries occurred in hospital-owned ambulatory surgery settings and the remaining 7.26 million surgeries (42.2%) were conducted in hospitals.
Wound Care Market Report Highlights
In terms of revenue, the advanced wound dressing segment held the largest share in 2020 owing to the increasing cases of chronic diseases and rising adoption of advanced wound care products
Home healthcare is expected to be the fastest-growing end-use segment over the forecast period due to the increasing geriatric population and rising adoption of negative pressure wound therapy
The acute wounds application segment held the largest revenue share in 2020 owing to the increased number of surgeries and burn cases
The Asia Pacific is expected to be the fastest-growing regional market over the forecast period owing to the increasing number of surgeries and burns cases in this region