Traditional Wound Management Market to Record an Exponential CAGR by 2026: Grand View Research Inc.

 Traditional Wound Management Market Growth & Trends

The global traditional wound management market size is expected to reach USD 7.18 billion by 2026, according to a new report by Grand View Research, Inc., exhibiting a CAGR of 3.6% during the forecast period. Growing incidence of chronic diseases, increasing number of accidents, and rising number of ambulatory surgical centers are some of the key factors driving the market.

Global increase in incidence of chronic diseases such as diabetes, cancer, and other autoimmune diseases is one of the key factors driving market growth. Factors such as, adoption of unhealthy & sedentary lifestyles, alcohol consumption, and smoking are majorly contributing toward rise in prevalence of non-communicable diseases. Cancer has been a global healthcare burden as it is one of the leading causes of death. Most surgical wounds after cancer surgery are relatively large in size and deep, producing exudate, which requires routine management. The wound care products such as bandage, medical tapes, and gauze help manage large wounds, significantly reducing the risk of further infection. According to the WHO, in 2018, one in five men and one in six women, globally, develop cancer during their lifetime. Moreover, as per reports published by WHO, 18.1 million new cancer cases have been reported in 2018, globally. In addition, as per the WHO, over 70.0% of cancer-related deaths typically occur in middle- and low-income countries. Furthermore, rising prevalence of chronic conditions and growing number of surgeries being performed have also increased globally. Therefore, such factors are anticipated to positively impact growth over the forecast period.

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Traditional Wound Management Market Report Highlights

• In terms of revenue, acute wounds segment held the largest share in 2018 owing to rising cases of accidents and trauma globally.
• Gauze segment held the largest share in 2018 owing to its wide range of applicability in various types of wounds and availability of numerous products.
• Hospital segment held the largest share in 2018 due to rising cases of burns and surgeries.
• Asia Pacific is expected to witness the fastest growth over the forecast period owing to rising number diabetic patients in this region.
• Prominent players operating in traditional wound management market are Smith & Nephew PLC, Mölnlycke Health Care, Paul Hartman AG, and Cardinal Health.

Traditional Wound Management Market Segmentation

Grand View Research has segmented the global traditional wound management market on the basis of product, application, end use, and region:

Traditional Wound Management Product Outlook (Revenue, USD Million, 2015 - 2026)

• Gauze
• Tape
• Bandage
• Cotton

Traditional Wound Management Application Outlook (Revenue, USD Million, 2015 - 2026)

• Chronic Wounds
  • Diabetic Foot Ulcers
  • Pressure Ulcers
  • Venous Leg Ulcers
  • Others
• Acute Wounds
  • Surgical & Traumatic Wounds
  • Burn Wounds

Traditional Wound Management End-use Outlook (Revenue, USD Million, 2015 - 2026)

• Hospitals
• Clinics
• Home Healthcare
• Others

Traditional Wound Management Regional Outlook (Revenue, USD Million, 2015 - 2026)

• North America
  • US.
  • Canada
• Europe
  • UK.
  • Germany
• Asia-Pacific
  • Japan
  • China
• Latin America
  • Brazil
  • Mexico
• MEA
  • South Africa
  • Saudi Arabia

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.