Traditional Wound Management Market to Reach $7.63 Billion by 2028: AMR
Surge in incidence of accidents, increase in ambulatory surgical centers, and rise in incidences of chronic diseases and surgeries drive the global traditional wound management market. The market across North America dominated in terms of revenue, holding more than two-fifths of the market. The Covid-19 pandemic disrupted workflows in the healthcare sector across the globe and forced several industries to close including traditional wound management.
Portland, OR, June 10, 2021 (GLOBE NEWSWIRE) -- As per the report published by Allied Market Research, the global Traditional Wound Management Market was pegged at $5.24 billion in 2020, and is estimated to reach $7.63 billion by 2028, growing at a CAGR of 4.7% from 2021 to 2028.
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Surge in incidence of accidents, increase in ambulatory surgical centers, and rise in incidences of chronic diseases and surgeries drive the global traditional wound management market. However, surge in development and adoption of advanced wound care products hinder the market growth. On the contrary, improving regulatory scenario in emerging countries is expected to create lucrative opportunities for the market players in the future.
Covid-19 scenario:
- The Covid-19 pandemic severely affected the traditional wound management industry as several hospitals closed their wound centers because they misclassified the facility as nonessential.
- The Covid-19 pandemic disrupted workflows in the healthcare sector across the globe and forced several industries to close including traditional wound management.
The global traditional wound management market is segmented on the basis of product, application, and region.
Based on product, the gauze segment held the lion’s share in 2020, accounting for around one-third of the market. However, the bandage segment is expected to manifest the highest CAGR of 5.5% during the forecast period.
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On the basis of application, the acute wound segment held the largest share in 2020, contributing to more than half of the market. In addition, the segment is projected to portray the highest CAGR of 4.9% during the forecast period.
The global traditional wound management market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across North America dominated in terms of revenue, holding more than two-fifths of the market. However, the market across Asia-Pacific is anticipated to register the highest CAGR of 5.5% during the forecast period.
The global traditional wound management market includes an in-depth analysis of the prime market players such as BSN Medical, B. Braun Melsungen AG, Derma Sciences Inc., Cardinal Health, Medtronic PLC, Johnson & Johnson Pvt. Ltd., Mölnlycke Health Care AB, Medline Industries, Inc., Smith & Nephew, and PAUL HARTMANN AG.
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We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market.
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