June 17, 2020
According to a recent study titled ‘Bioactive Wound Management Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Product Application and Geography’, available with Market Study Report LLC, global bioactive wound management market was valued at USD 1,751.38 million in 2019 and is estimated to accrue USD 3,057.12 million by end the of the study period, expanding with a CAGR of 7.3% through 2027.
Rising cases of ulcers, wounds, and skin burns, along with growing prevalence of diabetes, and increasing number of surgical procedures across the globe are the key factors driving the growth of bioactive wound management market.
Furthermore, ongoing innovations in wound care products are expected to augment the industry growth over the forecast period. On the contrary, wound care management is expensive, which may negatively impact the industry growth, cites the report.
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For the uninitiated, bioactive wound care dressings are wound dressing manufactured using biomaterials which constitute of both synthetic and natural polymers. These dressings are designed to be in direct contact with the injury site for preventing further infection.
Based on the product terrain, global bioactive wound management industry is categorized into alginates, antimicrobial dressings, collagen-based dressings, hydrocolloids, and bioengineered skin substitutes. The report states that alginates segment held majority of market share in 2019, however, bioengineered skin substitutes segment is poised to register the highest growth rate over the forecast timeline.
Elaborating on the application spectrum, the market is classified into pressure ulcers, burn wounds, venous leg ulcers, diabetic foot ulcers, and surgical wounds. Among these, burn wounds segment accounted for the largest market share in 2019. In contrast, surgical wounds segment is slated to overtake as fastest growing application in the forthcoming years.
Speaking of the end-user landscape, the market is split into hospitals & clinics, ambulatory surgical centers, and others. Bioactive wound management market from hospitals & clinics segment garnered majority share in 2019 and is projected to register a strong CAGR through 2027.
Key players operating in global bioactive wound management industry include ConvaTec Group Plc, Covalon Technologies Ltd., Coloplast Group, Hartman Group, Tissue Regenix Group, Smith & Nephew, Organogenesis Inc., Integra Life Sciences Corporation, ETS Wound Care, LLC, and MiMedx.