Wound Healing Market to Reach over US$ 35.0 Billion By 2025; Demand for technologically advanced wound care management to fuel market growth,

Wound healing agents are characterized as the products speeding the repair of tissue injury, reducing the pain associated with the wounds, and curing the infections. The wound healing agents act in various areas of clinical activity, which include reducing the infection and inflammation, lowering the patient’s pain, removing necrotic tissues, and assisting in wound closure. Global Wound Healing market was valued approximately US$ 23,317.7 Mn in 2016 and is anticipated to register CAGR of over 4.8% from 2017 to 2025 to reach value of approximately US$ 35,065.7 Mn by 2025. Rise in the awareness initiatives for the treatment compliance of chronic wounds, and increase in manufacturer focus on development of novel wound healing technologies are likely to fuel the expansion of global wound healing market by 2025.

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High Cost of Advanced Wound Care Products to Restrain Global Market Expansion

According to the Centers of Disease Control (CDC) statistics, an estimated 450,000 – 500,000 patients suffer from burn injuries each year in the U.S. The direct costs of treatment of burn injuries in the U.S., was estimated to be around US$ 10.4 Bn. Wounds impose underappreciated burden on the population across the globe and they account for the majority of injuries related to skin. Rise in the prevalence of diabetes and obesity, and increasing adoption rate for wound care therapy devices in developed and emerging markets are likely to fuel the uptake of wound healing products by 2025. However, high price of newly launched and technologically advanced wound care products restricts their demand. Conventional wound healing products are preferred over technologically advanced costly dressings in the emerging economies, despite their slow healing process. The price sensitive market of developing nations thus restricts the growth of advanced wound management technologies, which in turn has attributed for devaluation of the market, thereby restraining growth of global wound healing market.

Wound Closure Agents to Lose Market Share

The report offers detailed segmentation of global Wound Healing market based on product, wound type, and gender. Among the product types studied, wound closure agents segment is poised to account for leading share of the global market during the forecast period from 2017 to 2025. Topical agents segment which comprises hemostatic agents, antimicrobials, wound cleansers, and others are likely to get boost from their ongoing R&D activities, in turn estimating highest number of new product launches in the near future. The wound closure agents segment is anticipated to lose its market share during the forecast period, and is expected to hold a share of 24.0% by 2025 from 28.1% in 2016. Availability of other advanced wound healing products with reduced risk of infection are factors likely to hamper the market share of this segment.

Chronic Wounds to Be the Most Promising Wound Type to Invest In

Among wound types, chronic wounds segment is projected to hold dominant share of global wound healing market during the forecast period and is likely to expand at CAGR of around 5.0% from 2017 to 2025. From chronic wounds, ulcers sub-segment is expected to lead the global wound healing market in terms of CAGR by 2025. As per the Agency for Healthcare Research & Quality (AHRQ), in U.S. US$ 9.0 Bn to US$ 11.0 Bn are spent on pressure ulcers by health care systems annually. Significant patient population, and availability of favorable reimbursement policies which are driving manufacturers’ focus on business expansion in advanced wound care products are projected to fuel this expansion. Significant economic burden of surgical site infections (SSI), and higher treatment costs associated with it is expected to propel the expansion of chronic wound segment during 2017-2025.

Women are to Capture Relatively Significant Market Share during the Forecast Period

In case of women, especially in low and middle income countries, there is significant gap between reported and actual cases of diabetes and chronic wounds, which is anticipated to improve during forecast period. In terms of gender, women segment held 52.9% of global wound healing market share in terms of revenue. Initiatives such as Wound Awareness Week and other outreach programs are projected to increase the awareness in significant patient population.

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