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Wound Care Centers Market Analysis, Size, Share And Forecast 2026 By Deployement Types, Services And Solutions Details : Radiant Insights, Inc.
The global wound care centers market size is expected to reach USD 49.4 billion by 2026, expanding at a CAGR of 4.5. Growing prevalence of diabetic ulcers on a global scale, along with rising number of sports-related injuries, is expected to drive the market over the forecast period. In addition, growing awareness regarding the use of modernized wound care products is propelling the market.
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Increasing number of road accidents is also anticipated to augment market demand. According to the Global Status Report on Road Safety 2018, approximately 1.35 million individuals die in road accidents every year. Road mishaps are the 8th leading cause of death for individuals across all ages. This number is expected to grow three times higher in low-income economies as compared to high-income economies.
Significant cost of wound care management is hampering the growth of the market. Wound care comprises direct healthcare cost, cost of actual dressing, and cost of applying the dressing or treating systemic infections, if any. Moreover, use of other medications in healthcare centers contributes to wound care. Hence, all these factors are anticipated to result in a higher price for patients.
Growing prevalence of type 1 and type 2 diabetes is also augmenting the demand for advanced wound dressing products in healthcare centers. On a global scale, approximately 425 million people suffered from diabetes mellitus in 2017, according to the International Diabetes Federation, and this number is expected to cross 628 million patients by 2045. Hence, this growing prevalence of diabetes is an opportunity for players to focus on more advancements in wound care management in healthcare centers.
North America accounted for the largest share in the wound care centers market in 2018 and is expected to retain its lead in the future as well. This can be attributed to high disposable income of consumers for treating pressure ulcers in healthcare centers as well as growing number of research and development activities in the region. Asia Pacific is anticipated to register the fastest growth over the forecast period owing to growing geriatric population prone to various disorders. Moreover, growing number of surgeries, increasing healthcare expenditure, and rising patient awareness is driving the wound care centers market.
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Further key findings from the report suggest:
- By type, the hospital segment led the global market owing to well-established healthcare facilities and growing patient pool in developed economies
- The clinics segment is expected to grow considerably over the forecast period owing to high preference by patients in order to avoid hospital-acquired infections
- Specialized dressings held the largest share in the market in 2018 due to growing introduction of new and effective products, such as biological skin products, skin substitute, and other complex dressing products
- Asia Pacific is anticipated to be the fastest growing segment owing to increasing number of surgeries, rising healthcare expenditure, and awareness regarding wound care management among patients
- Key players in the wound care centers market include Hologic, WoundTech, Oxyheal, Wound Care Advantage, Wound Care Specialists, RestorixHealth, Systagenix Wound Management, and Mlnlycke Health Care AB.
About Radiant Insights
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