The global chronic wound care market is expected to reach $15.98 billion in 2023, with a CAGR of 7% from 2022 to 2032. The market is expected to grow rapidly in the coming years as a result of factors such as increased awareness programmes for chronic disease disorders. Diabetes is another factor that is expected to boost market demand for chronic wound treatments.
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The researchers at Stanford University are part of an NIH-funded research team. Zhenan Bao and Geoffrey Gurtner are experimenting with technologies to help wounds heal faster. Using a smart bandage aided healing. On November 24, 2022, their findings were published in Nature Biotechnology. In another case, a protein discovered by researchers in animal models has been shown to significantly accelerate wound healing. These findings could aid in the development of new therapeutic strategies for wound healing and tissue regeneration.
COVID-19 Impact Analysis on Chronic Wound Care Market
The recent outbreak of the COVID-19 has turned the spotlight on the healthcare industry, and subsequently impacted the Chronic Wound Care market. Severe shortages of critical medical supplies and a rapid rise in number of COVID-19 cases have resulted into a revolution rather than evolution in the healthcare ecosystems. Consequently, the impact is noticeable in the Chronic Wound Care market.
Following government’s measures, particularly social distancing norms and stay-at-home orders, doctors are delaying or postponing elective surgeries unless critical to prevent the spread of the virus to individuals with comorbidities or chronic conditions. Additionally, movement restrictions and supply chain disruptions have created a logistical nightmare for market players, leading to severe product shortages in the global marketplace.
The FMI’s report includes an interesting chapter on preliminary impact of the COVID-19 on the Chronic Wound Care market. This allows both leading and emerging market players to understand the market scenario during a crisis and aids them in making sound decisions to gain a distinct competitive edge.
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Chronic Wound Care Market: Segmentation
Valuable information covered in the FMI’s Chronic Wound Care market report has been segregated into key segments and sub-segments.
Type:
- Diabetic Ulcers
- Pressure Ulcers
- Venous Ulcers
- Other Chronic Wounds
Product:
- Advanced Wound Dressings
- Wound Care Therapy
- Active Therapy
- Others
End User:
- Hospital and Wound Care Centers
- Homecare Settings
- Others
Chronic Wound Care Market: Competition Analysis
The FMI’s study presents a comprehensive analysis of global, regional, and country-level players active in the Chronic Wound Care market. Competitive information detailed in the Chronic Wound Care market report has been based on innovative product launches, distribution channels, local networks, industrial penetration, production methods, and revenue generation of each market player. Furthermore, growth strategies and mergers & acquisitions (M&A) activities associated with the players are enclosed in the Chronic Wound Care market report.
Key players covered in the report include:
- Paracrine, Inc.
- Oneness Biotech
- Biotissue
- Polarity TE
- MediWound
- Anterogen Co., Ltd.
- TR Therapeutics
- RHEACELL GmbH & Co.KG
- Smith & Nephew
- Kaken Pharmaceutical
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Important Questions Answered in the Chronic Wound Care Market Report
- Which end user remains the top revenue contributor in different regional markets?
- At what rate has the global Chronic Wound Care market been expanding during the forecast period?
- How will the global Chronic Wound Care market look like by the end of the forecast period?
- What innovative strategies are adopted by Chronic Wound Care market players to stay ahead of the pack?
- What are the restraints affecting the growth of the global Chronic Wound Care market?
Key Offerings of the Report
- Growth Drivers and Opportunities: Comprehensive analysis on growth-driving factors and opportunities for market players in different regional markets
- Recent Trends and Forecasts: Detailed assessment on the latest trends, technological developments, and forecasts for a 5-year or 10-year period.
- Segmental Analysis: Extensive analysis on each segment and factors differentiating the role of these segments in market revenue forecasts and growth rate analysis
- Regional Market Forecast: Thorough analysis of each regional market to arm stakeholders with necessary information to take critical decisions
- Competitive Landscape: All-inclusive insights on both leading and emerging players vying for a slice of the Chronic Wound Care market
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