Global wound care market projected to grow at a CAGR of 5.08%, reaching USD 33.99 billion by 2032
From GlobeNewswire: 2024-12-16 10:13:00
The global wound care market was valued at USD 21.8 billion in 2023 and is projected to reach USD 33.99 billion by 2032, growing at a CAGR of 5.08%. Increasing demand for advanced solutions like bioengineered dressings and NPWT is driving market growth. Manufacturers are focusing on innovation and strategic collaborations to meet rising demands.
Advanced wound care products dominated the market in 2023, accounting for 45% of market share. Surgical wound care products are expected to witness the fastest growth, driven by increasing surgical procedures. Chronic wounds, such as diabetic foot ulcers, contributed to 55% of market revenue, while acute wounds are expected to exhibit the fastest growth rate.
North America leads the wound care market, with advanced healthcare systems and strong awareness of infection control. The Asia-Pacific region is emerging as a lucrative market due to increasing healthcare expenditures and growing awareness of advanced wound care technologies. Recent developments include partnerships to evaluate innovative wound care solutions and AI-powered platforms for better patient outcomes. A new partnership aims to establish a production facility and create job opportunities to enhance healthcare accessibility in the region. The wound care market is growing due to increasing chronic conditions, technological advancements, and awareness of efficient wound management. Global demand for cutting-edge wound care products is rising, with North America, Europe, and Asia-Pacific leading the way. Industry leaders are driving progress through innovation and market expansion. For more details, check out the Wound Care Market Analysis & Outlook Report 2024-2032. Visit the link provided to purchase reports and learn more about the industry. SNS Insider is a leading market research and consulting agency providing clients with essential knowledge to navigate changing circumstances.
Read more at GlobeNewswire: Global Wound Care Market to Reach USD 33.99 Billion by