Wound Closure & Advanced Wound Care Market Size Worth $1.69 Billion by 2027: Grand View Research, Inc.

SAN FRANCISCO, July 7, 2020 /PRNewswire/ --  The global wound closure and advanced wound care market size is expected to reach USD 1.69 billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 4.5% over the forecast period. Increasing incidence of chronic diseases globally, rising demand for wound dressing products and advanced wound care management, and growing number of sports injuries and road accidents are the key factors driving the market.

Rapidly increasing number of road accidents is leading to a rise in the demand for injury closure and advanced care products. According to the report published by the World Health Organization in 2020, around 1.35 million people die every year due to road accidents globally. It also reported that 93.00% of road accidents occur in the middle income and low income countries. Thus, increasing cases of road accidents is expected to surge the demand for injury care products over the forecast period, thereby propelling the market growth.

Key suggestions from the report:

• Based on product, fibrin-based sealants held the largest share in 2019 owing to rising incidents of road accidents and sports injuries
• On the basis of application, the chronic wounds segment is anticipated to witness the fastest growth over the forecast period owing to increasing cases of diabetes among all age groups
• By end use, the home healthcare segment is expected to witness the fastest growth over the forecast period due to rising demand for home healthcare among geriatric population across the globe
• Asia Pacific is expected to witness the fastest growth over the forecast period owing to rising number of surgical procedures and increasing cases of diabetic foot ulcers in this region.

Read 115 page research report with TOC on "Wound Closure And Advanced Wound Care Market Size, Share & Trends Analysis Report By Product (Fibrin-based Sealants, Hydrocolloids-based Sealants), By Application, By End Use, And Segment Forecasts, 2020 - 2027" at: https://www.grandviewresearch.com/industry-analysis/wound-closure-advanced-wound-care-market

Rising incidence of chronic injuries such as diabetic foot ulcers and venous leg ulcers across the globe are also anticipated to propel the market growth. For instance, as per the report published by the International Diabetes Federation, in 2019, around 40.00 to 60.00 million were suffering from diabetes worldwide and diabetic foot ulcers were the most common, severe, and costly complications caused due to diabetes. Since traditional and advanced injury care and wound closure products are majorly used for treating such conditions, thus rising cases of such conditions are expected to surge the demand of these products. Therefore, such instances are expected to boost the market growth over the forecast period.

Grand View Research has segmented the global wound closure and advanced wound care market on the basis of product, application, end use, and region:

• Wound Closure & Advanced Wound Care Product Outlook (Revenue, USD Million, 2016 - 2027)
• Fibrin-based Sealants
• Collagen-based Sealants
• Hydrocolloids-based Sealants
• Synthetic Adhesives
• Others
• Wound Closure & Advanced Wound Care Application Outlook (Revenue, USD Million, 2016 - 2027)
• Chronic Wounds
• Diabetic Foot Ulcer
• Venous Leg Ulcer
• Pressure Ulcer
• Others
• Acute Wounds
• Surgical & Traumatic
• Burns
• Wound Closure & Advanced Wound Care End-Use Outlook (Revenue, USD Million, 2016 - 2027)
• Hospitals
• Clinics
• Home Healthcare
• Others
• Wound Closure & Advanced Wound Care Regional Outlook (Revenue, USD Million, 2016 - 2027)
• North America
• U.S.
• Canada
• Europe
• U.K.
• Germany
• Asia Pacific
• Japan
• China
• Latin America
• Brazil
• Mexico
• MEA
• South Africa
• Saudi Arabia
• List of Key Players of Wound Closure & Advanced Wound Care Market:
• Smith & Nephew Plc.
• Mölnlycke Health Care AB
• Acelity (KCI Licensing, Inc.)
• Convatec Group PLC.
• Baxter
• Ethicon Inc. (Johnson & Johnson)
• Coloplast Corp
• Medtronic
• 3M
• Medline Industries, Inc.

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About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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