According to the latest report published by Credence Research, Inc. “Wound Care Market – (Product Type – Advanced Wound Closure: Haemostatic and Sealing Agent, Topical Tissue Adhesive, and Wound Closure Devices, Advanced Wound care: Moist Wound Dressings, Active Wound Care, and Therapy Devices; Application – Chronic Wounds, and Acute Wounds) :Market Growth, Future Prospects and Competitive Analysis, 2016-2022,” the market was valued at USD 14.6 Bn in 2015, and is expected to reach USD 19.8 Bn by 2022, expanding at a CAGR of 4.3% from 2016 to 2022.
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The global wound care market involves various products that help in healing and preventing infection. Wound care & closure and advanced wound care & closure products are used to treat acute and chronic wounds. Chronic wounds are hard to heal and take substantial time to heal. Advanced wound care & closure products are emerging as a standard solution for treating chronic wounds. North America held the largest regional market, accounting for the share of over 35% in 2015, and is anticipated to dominate the global wound care market during the forecast period of 2016 to 2022. Rising geriatric population susceptible for diabetes and rising volume of surgical procedures would also assist the wound care market in North America. Asia Pacific is expected to grow at a highest growth rate during the focus period, due to growing medical investments and healthcare infrastructure in Asia Pacific, especially in the countries such as China, Japan and India.
The advance wound closure products held the largest market in the global wound care market. Rising lifestyle diseases that lead to chronic wounds such as diabetic foot ulcers and growing number of cosmetic, plastic and other surgical procedures has boosted the market growth. The advance wound care product is anticipated to grow at a faster rate due to the growing awareness about wound management and effectiveness of the products.
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The chronic wound market held the largest segment in the global wound care market. The diabetic foot ulcer treatment held the largest share in the chronic wound segment. Rising number of diabetes cases globally is the major driver for the growth of this market. The acute wounds market is expected to grow at a faster rate due to the rising number surgical and traumatic cases in the world, driving the wound care market.
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