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Wound Care Market Expected to Reach $18.3 Billion by 2019

The global wound care market is expected to reach $18.3 billion by 2019 from $15.6 billion in 2014, growing at a CAGR of 3.2% from 2014 to 2019.

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Based on the type of products, the wound care market is segmented into traditional wound care, basic wound care, advanced wound care, bio-active wound care, and therapy devices. Among various segments, the advanced wound care segment commanded the largest share in 2014, while the active wound care segment is forecasted to be the fastest-growing segment in the wound care market. Factors such as rising awareness regarding new technologies for wound care, government support in the form of funding, and rising diabetic and aging population are driving the growth of the wound care market.

Based on geography, the global wound care market is segmented into North America, Europe, Asia, and the Rest of the World (RoW). North America is expected to account for the largest share of the market by the end of 2014. This large share can be attributed to various factors, including the increase in acute and chronic conditions such as diabetic foot ulcers, venous ulcers, and pressure ulcers and government support in the form of funds.

The prominent players in the wound care market are 3M Company (U.S.), Baxter International, Inc. (U.S.), Coloplast A/S (Denmark.), Convatec Healthcare B.S.A.R.L (U.S.), Covidien PLC (Ireland), Derma Sciences, Inc. (U.S.), Ethicon, Inc. (U.S.), Hollister, Inc. (U.S.), Kinetic Concept, Inc. (U.S.), Mölnlycke Health Care (Sweden), and Smith & Nephew (U.K.).

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