Based on the MarketsandMarkets report “Wound Care Market by Product (Foams, Hydrocolloids, Alginates, Antimicrobial Dressings, Assessment, NPWT Devices, Substitutes, Sutures, Staples, Tapes), Wound (Surgical, Trauma, Diabetic Ulcers, Burns), End-User, Region – Global Forecast to 2024”, is projected to reach $24.8 billion by 2024 from $19.8 billion in 2019, at a CAGR of 4.6% from 2019 to 2024, driven by the growing prevalence of conditions that impair wound healing capabilities, thus necessitating the use of wound care products – particularly advanced products.
Increasing funding for wound care research, the rising incidence of road accidents and injuries, and the growing use of regenerative medicine in wound care are driving the growth of the global wound care industry.
AI in wound management, increasing research in the field of advanced wound care, and potential applications of stem cell therapy are expected to provide a wide range of growth opportunities for players in the market.
For more information about the wound care market, check out the January issue of OR Today magazine.
