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The global chronic wound care market size is estimated to grow by USD 5.44 billion at a CAGR of 6.52% between 2023 and 2028.
The global chronic wound care market is witnessing significant growth, largely driven due to the early detection of chronic wounds worldwide. Chronic wounds are wounds that do not heal easily within a predictable timeframe, typically persisting for more than three months. Some of the most common types of non-healing wounds includes diabetic foot ulcer, arterial or ischemic ulcer, venous or stasis ulcer, pressure ulcer, traumatic injury ulcer, radiation-related wound. Furthermore, the availability of advanced wound care products and technology, coupled with growing patient and healthcare provider awareness of the significance of good wound treatment, is propelling the global chronic wound care market growth during the forecast period.
Technavio has segmented the market into Product, Application, and Geography
It also includes an in-depth analysis of drivers, trends, and challenges. Our report examines historic data from 2018-2022, besides analyzing the current market scenario.
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The market share growth by the advanced dressing segment will be significant during the forecast period. Advanced wound dressings, such as hydrocolloid, gel, film, alginate, and foam dressings, protect the surrounding tissue and wound base by controlling the wound surface by absorbing exudate or holding onto moisture. Some dressings, such as iodine, honey, and silver dressings, are utilized because of their antibacterial qualities. The dressing selection may vary depending on how the wound exudates and wound base alters.
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The advanced dressing segment was valued at USD 4.41 billion in 2018. Healthcare providers who manage wounds have difficulty due to the variety of wound dressings available and the accompanying costs. Deciding necessitates understanding the efficacy, safety, and affordability of a variety of dressings. For example, Johnson and Johnson offers a variety of advanced dressings for chronic wounds. Advanced dressings from Johnson and Johnson include PROMOGRAN Matrix, ACTISORB Silver 20, SURGICEL Absorbable Hemostatic Dressing, TEGADERM Transparent Film Dressing, AVILENE Hydrocolloid Dressing. Hence, the increased benefit and availability of advanced dressing to treat different kinds of wounds will drive the growth of the advanced dressing segment of the market during the forecast period.
Diabetes increases the risk of foot problems, mostly due to peripheral artery disease and diabetic neuropathy. Over the past few decades, there has been a steady rise in the incidence of diabetes. A thorough physical examination can detect individuals who are at risk for developing foot ulcers and correctly classify those who already have ulcers or other diabetic foot issues. This examination is supported by noninvasive testing for arterial insufficiency and monofilament testing for neuropathy. To lower the chance of an injury that may result in the development of an ulcer, patient education regarding nail care, foot hygiene, and appropriate footwear is essential. Consequently, the increasing prevalence of diabetic foot ulcers will create a demand for wound care, which in turn will drive the growth of the diabetic foot ulcers segment in the global chronic wound care market during the forecast period.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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