+44 (0) 20 7549 9987 | USA callers: +1 212 220 8419

Contact Us Now
Global Wound Care market

The Global Wound Care Market Is Set to Boom, Particularly in Emerging Economies

30 March 2020
Pharma
Global Wound Care market

The global wound care market is big, and only set to grow bigger.  Currently, estimates show a CAGR of 4.6% in the years to come, with the overall market growing from US$19.8 billion in 2019 to US$24.8 billion by 2024.  The industry is ripe with opportunity, with that growth coming from several factors - but most especially growth in emerging economies and the BRICS nations.

In this article, we'll provide a brief overview of the situation.

The Scope of The Wound Care Market

The wound care market exploded with the development of antibiotics in the early 20th Century and has continued apace since.  The market now spans a wide range of products and approaches, including:

  • Medicines
  • Foams
  • Alginates
  • Hydrocolloids
  • Antimicrobial dressings
  • Sutures, staples, and tapes
  • Negative Pressure Wound Therapy (NPWT) systems
  • Diagnostic and assessment equipment

The richness of the market is one of many contributing factors to its growth, but that growth is largely being driven by global demand.

Driving Factors for Growth in The Global Wound Care Market

While wound care is doing well worldwide, there is a particular uptick in emerging economies such as the BRICS nations, as well as the Asia-Pacific region.  These areas are seeing significant increases in the diagnosis of cardiovascular disorders and diabetes, among other medical issues. 

In addition, these nations are seeing significant expansion of their highways and other infrastructure, leading to a parallel increase in injurious accidents.  At the same time, wages and standards of living are continuing to grow in these nations as well, leaving the public with more money to spend on medical services.

Combined with the vast population in these markets - over 2.5 billion people in India and China alone - and the wound care market is poised for major increases in years to come.

Overall, Asia is currently projected to see the largest gains in this industry.  There is a rising geriatric population, as well as significant increases to overall healthcare infrastructure.  Alongside, North America and Europe will still also see large increases in wound care markets, due to their high standards of living and high overall per-capita spending on healthcare.

Visiongain Brings You Insights

We compile and produce highly detailed reports spanning eighteen major global industries and dozens of subsidiary markets.  From biomedical to aerospace, look to Visiongain for the insights your business needs to plan for the future.

Click here to browse our medical market report library.

Recent News

Visiongain Publishes Automation in Biopharma Industry Market Report 2024-2034

The global Automation in Biopharma Industry market is estimated at US$1,954.3 million in 2024 and is projected to grow at a CAGR of 7% during the forecast period 2024-2034.

17 April 2024

Read

Visiongain Publishes Anti-obesity Drugs Market Report 2024-2034

The global Anti-obesity Drugs market is estimated at US$11,540.2 million in 2024 and is expected to register a CAGR of 21.2% from 2024 to 2034.

12 April 2024

Read

Visiongain Publishes Inflammatory Bowel Diseases (IBD) Drugs Market Report 2024-2034

The global Inflammatory Bowel Diseases (IBD) Drugs market was valued at US$27.53 billion in 2023 and is projected to grow at a CAGR of 6.2% during the forecast period 2024-2034.

11 April 2024

Read

Visiongain Publishes Female Health Tech Market Report 2024-2034

The global Female Health Tech market was estimated to be valued at US$ 140.9 billion in 2034 and is expected to register a CAGR of 9.6% from 2024 to 2034.

05 April 2024

Read