The global Patch Based Wound Healing Products market size is expected to be worth around US$ 1.54 billion by 2028, according to a new report by Vision Research Reports.
The global Patch Based Wound Healing Products market size was valued at US$ 1.13 billion in 2020 and is anticipated to grow at a CAGR of 4.8% during forecast period 2021 to 2028.
Factors such as increasing prevalence of acute and chronic wounds, number of surgical procedures, incidence of road accidents, and demand for rapid wound healing products are expected to propel the market growth.
Increasing cases of chronic and acute wounds across the globe is anticipated to be the major growth driver for the market. As per a journal published by the ScienceDirect in 2018, prevalence of non-healing chronic wounds in the developed countries is around 1.0 to 2.0% of the population. Adoption of unhealthy and sedentary lifestyles, alcohol consumption, and smoking are some of the major factors contributing to the rise in prevalence of non-communicable diseases.
According to the National Diabetes Statistic Report, 2017, published by the Centers for Disease Control and Prevention (CDC), more than 100 million people in U.S. were living with diabetes or prediabetes in the same year. According to a report published by the American Diabetes Association in 2018, the annual incidence of diabetic foot ulcer was around 2.0% in most Western countries. Rising prevalence of acute wounds across the globe is anticipated to drive the patch based wound healing products market. As per the World Health Organization (WHO), over 1,000,000 people are registered, annually, as moderately or severely burnt. Rising incidence of burns is also anticipated to propel the product demand over the forecast period.
Collagen held the largest market share in 2020 owing to the increasing demand for rapid wound healing products across the globe. Collagen has antimicrobial properties and is mostly used in cases such as diabetic foot ulcers, venous leg ulcers, and post-operative infections. Rising prevalence of diabetes is anticipated to further contribute to the segment growth. Rising number of surgical procedures has led to the a rise in Surgical Site Infection (SSI), which in turn, may drive the demand of collagen based wound care products.
Silver based wound care is anticipated to witness the fastest CAGR over the forecast period. These products have antimicrobial properties, facilitating rapid wound healing. They can be used as both primary and secondary dressings and are suitable for managing moderate, minimal, and heavy exudates. These care products are commonly used for surgical wounds, pressure ulcers, diabetic foot ulcers, venous leg ulcers, and burn wounds. Rising cases of acute wounds across the globe is one of the major driving factors for the segment. As per the CDC, in 2020, in acute care hospitals, SSIs accounted for an annual cost of nearly USD 3.2 billion.Such instances are expected to further drive the product demand in near future.
The chronic wound segment is anticipated to witness the fastest CAGR over the forecast period. Increasing incidence of chronic conditions, especially diabetes along with rising geriatric population is expected to propel the segment growth. As per the National Center for Biotechnology Information (NCBI), in 2017, diabetic population in U.S. was around 20.0 million and is anticipated to double by 2030. Growing target population prone to developing any type of wound is anticipated to further boost the growth.
The acute wounds segment held the largest market share in 2020. Acute wounds include burns and surgical and traumatic wounds. High incidence of trauma and burns is expected to drive the segment growth.As per the WHO, around 9.0% of global deaths occur due to trauma every year. Rising cases of SSI and is one of the major growth drivers. As per the Journal of Patient Safety & Infection Control of 2016, estimates for SSIs in India ranged from 23.0% to 38.0%, which was significantly higher than the global estimates ranging between 0.5% and 15%. This factor is projected to impel the product demand in the forthcoming years.
North America is projected to continue leading the global market in terms of market share over the forecast period. Increasing prevalence of diabetes coupled with the presence of major key players in the region is anticipated to drive the growth. In addition, factors such as advancements in healthcare infrastructure and rise in surgical procedures are also expected to drive growth. For instance, as per a survey conducted by the Canadian Medical Association in 2017, the number of surgeons has been rapidly increasing in Canada. This is also expected to drive the number of surgical procedures over the forecast period.
Asia Pacific is anticipated to witness the fastest CAGR over the forecast period. Presence of developing countries such as China, India, and Japan in this region is expected to encourage investments from various key players. In addition, favorable government regulations regarding product approval is also expected to drive the regional growth. Availability of adequate resources in this region enables advancements in technology at cheaper costs, which has led to an increase in the number of manufacturing facilities.
Smith & Nephew plc; Mölnlycke Health Care; Coloplast; B. Braun Melsungen; and 3M.
The Patch Based Wound Healing Products market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Patch Based Wound Healing Products market for the base year 2020 and the forecast between 2021 and 2028. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Patch Based Wound Healing Products market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Patch Based Wound Healing Products market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Patch Based Wound Healing Products market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Patch Based Wound Healing Products capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Patch Based Wound Healing Products by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Patch Based Wound Healing Products market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2028. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Patch Based Wound Healing Products market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Patch Based Wound Healing Products market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Patch Based Wound Healing Products industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Patch Based Wound Healing Products market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Patch Based Wound Healing Products market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Patch Based Wound Healing Products market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Patch Based Wound Healing Products market. These factors have benefited the growth of the global market for Patch Based Wound Healing Products. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Patch Based Wound Healing Products. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Patch Based Wound Healing Products are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
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