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Research Report: Wound Care Market to cross $38.3 Billion by 2022

Global wound care market size is projected to cross $38.3 billion by 2022, growing at a CAGR of 6.7% during the forecast period.

The wound care market is growing due to increasing geriatric population, increase in volume of surgeries and increasing awareness about wound care products. Increasing cases of diabetes leading to pressure ulcer formation is further generating an increased demand for wound care products.

The North American wound care market is growing due to increasing geriatric population, increasing road accidents, increasing diabetes and obesity cases, and burn cases. Geriatric population is more susceptible to slow healing of wounds as they have low recovery power, which results in increased utilization of wound dressing.

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Moreover, wound care products are also used to prevent hospital acquired infections, which are formed at the site of surgery. According to an article published by Center for Disease Control and Prevention (CDC), approximately 157,500 patients acquired infection after surgery at hospitals in the US in 2011. Increased utilization of wound care products can prevent such cases and alleviate patients' condition.

3M Company, Coloplast Corporation, Medtronic plc, Smith and Nephew plc, ConvaTec, Integra Life Sciences Holdings Corporation and Johnson and Johnson are the key companies operating in the global wound care market.

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