Growth of the global advanced wound care market is attributed to increase in geriatric population and increase in incidences of diabetes, ulcer, obesity, and chronic conditions. Furthermore, surge in awareness related to advanced wound care applications and advantages are some of the factors that contribute to the growth of the market.
Rise in geriatric population, increase in prevalence of diabetes, obesity and chronic conditions worldwide, and significant technological advancements to deal with complex wounds drive the growth of the global advanced wound care market.
As per the report issued by Allied Market Research, the global advanced would care market was pegged at $8.45 billion in 2018 and is projected to hit $13.94 billion by 2026, registering a CAGR of 6.5% from 2019 to 2026. The report offers an all-inclusive analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & scopes, competitive landscape, and changing market trends.
The therapy devices to rule the roost during the forecast period-
Based on product, the therapy devices segment accounted for more than one-third of the global market share in 2018, and is anticipated to dominate throughout the estimated period. At the same time, the active wound care segment is projected to grow at the fastest CAGR of 17.4% till 2027.
North America to lead the trail in terms of revenue-
Based on geography, North America contributed to nearly two-fifths of the global market, and is projected to maintain the lion’s share during 2019–2026. The Asia-Pacific, on the other hand, would manifest the fastest CAGR of 8.4% by 2026. The other two region analyzed in the report take in Europe and LAMEA.
By application, the chronic wounds segment accounted for the highest revenue share in the advanced wound care market in 2019, and is expected to maintain its dominance during the forecast period. This is attributed to rise in prevalence of postoperative surgical wounds and surge in geriatric population. In addition, rise in awareness toward advanced wound care & improved diagnosis and technological advancements in advanced wound care products are expected to offer remunerative opportunities for market expansion in the near future
Read More: https://www.alliedmarketresearch.com/press-release/advanced-wound-care-market.html
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