The global wound care market is expected to grow substantially from 2016 to 2022, according to a P&S Market Research report.
Here are six takeaways:
1. In 2015, the market was valued at nearly $24.48 billion.
2. The market is projected to increase at a compound annual growth rate of 6.7 percent from 2016 to 2022.
3. Key factors driving market growth include an increasing geriatric population, rise in surgery volume and more awareness about wound care products.
4. Last year, the surgical wounds segment held the largest market share and is projected to have a 7.1 percent CAGR in the aforementioned time frame.
5. From 2016 to 2022, the Asia Pacific market is expected to increase at a 7.2 percent CAGR.
6. Market vendors include 3M, Coloplast, Medtronic, Smith and Nephew, ConvaTec, Johnson and Johnson, Integra Life Sciences, Molyncke Health Care, Mo-Sci, Organogenesis, Acelity, DermaRite Industries, Derma Sciences, Hollister and DeRoyal Industries.
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