Global Bioactive Wound Care Market is Expected to Reach USD 16.7 Billion by 2026 : Fior Markets

Newark, New Jersey, Jan. 27, 2020 (GLOBE NEWSWIRE) — The global bioactive wound care market is expected to grow from USD 8.1 Billion in 2018 to USD 16.7 Billion by 2026 at a CAGR of 9.5% during the forecast period 2019-2026, according to the new report published by Fior Markets. The rise in the level of disposable income and increased investments in research and development activities are the two factors which are likely to spur the growth of the bioactive wound care market. Also, a growing number of tissue replacement procedures are positively impacting the growth of the market. The increase in patient awareness about superior quality of health drives demand for bioactive wound care products. Nowadays, patients are more aware and pro-active about their health and are willing to seek physician advice at an early stage because lack of awareness could result in problems related to wound infection. Rise in literacy rate plays a major role in general awareness among patients for managing wound infections. These factors will boost the growth of the bioactive wound care market over the forecast period.

Bioactive dressings provide substances that are necessary or helpful in the process of wound healing. These dressings are manufactured by combining various polymers such as collagen, elastin, hyaluronic acid, alginates, and chitosan. Bioactive dressings are known for their biocompatibility, non-toxic nature, and biodegradability. Wound dressings are broadly classified into passive, interactive, and bioactive on the basis of nature of the action.

Wound infection is a major global safety concern for healthcare professionals and patients, thus effective care is essential to reduce infections. With the widespread rise in the number of patients, the demand for these products is increasing. But the high cost associated with these products, availability of substitute wound care products and stringent regulatory standards may pose a major threat to the global bioactive wound care market.

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Key players operating in the global Bioactive Wound Care market include are Smith & Nephew, Mölnlycke Health Care, ConvaTec, Inc., Paul Hartmann AG, Organogenesis Inc., Systagenix Wound Management Ltd., 3M Health Care Ltd., Medtronic, Covalon Technologies Inc, BSN Medical, and Medline Industries, Inc. among others. To enhance their market position in the global bioactive wound care market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint venture, collaborations, and partnership.

For instance, In March 2015, 3M Healthcare Ltd. completed the acquisition of IveraMedical Corporation, a manufacturer of healthcare products and devices. This acquisition is expected to expand the former’s product portfolio.
In July, 2018, Mölnlycke acquired German wound care products company, SastoMed GmbH. The deal adds new, award-winning products to Mölnlycke’s offer – enabling it to further help healthcare professionals and patients by accelerating the wound healing process and treating chronic wounds.

The moist wound care segment is dominating the market and valued around USD 3.96 Billion in 2018

The product segment is segmented into moist wound care, antimicrobial wound care, and active wound care. The moist wound care segment is dominating the market and valued around USD 3.96 Billion in 2018. The moist product types are further sub-segmented into foam, hydrogel, alginate, film, and hydrocolloid-based dressings. These dressings create and maintain a wet environment around the affected area, which is conducive for effective healing. Since these products quicken the healing process, these dressings are hence recommended for chronic conditions including pressure ulcers, diabetic ulcers, burn injuries, and other slow-healing injuries. Antimicrobial wound care products provide various benefits including ease of use, wide availability, and greater cost-effectiveness as compared to antibiotics. In addition, these can be obtained without a prescription and may pose a low risk of developing antimicrobial resistance. Bioactive products have been observed to be highly beneficial in cases of severe trauma, burns, and in third-degree pressure & diabetic ulcers. FDA approvals for the products, such as Alpigraph and Dermagraft, have further supported the emergence of this vertical.

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Regional Segment Analysis of the Bioactive Wound Care Market

North America (U.S., Canada, Mexico)
Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
Asia-Pacific (China, Japan India, Rest of APAC)
South America (Brazil and Rest of South America)
Middle East and Africa (UAE, South Africa, Rest of MEA)

North America region is dominating the market due to the presence of an advanced healthcare system, favourable reimbursement system, and increased patient awareness levels. Additionally, increasing healthcare expenditure may contribute to the further development of the healthcare sector. Also, the increased utility of the products related to injury care in the home healthcare segment is nurturing the growth of this vertical. The Asia Pacific is anticipated to grow rapidly owing to increasing incidences of the diabetic foot, pressure ulcers, and infections among individuals in these developing regions. This provides avenues for players in this vertical to carry out awareness programs and campaigns with regard to skin conditions thereby increasing product penetration in the regional verticals.

About the report:

The global bioactive wound care market is analysed on the basis of value (USD Billion). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.

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