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Valued to be $2.5 Billion by 2026, Bioactive Wound Management Slated for Robust Growth Worldwide

Jan 4, 2022

SAN FRANCISCO, Jan. 4, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled  "Bioactive Wound Management - Global Market Trajectory Analytics" . The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

Bioactive Wound Management

Bioactive Wound Management

FACTS AT A GLANCE Edition: 7; Released: December 2021 Executive Pool: 2281 Companies: 90 - Players covered include 3M Company; Acelity LP, Inc.; ACell Inc.; Convatec Group PLC; Covalon Technologies Ltd.; Integra LifeSciences Holdings Corporation; MiMedx Group, Inc.; Smith Nephew PLC; SYMATESE; Wright Medical Group NV and Others. Coverage: All major geographies and key segments Segments: Product (Alginates, Collagen-Based Dressings, Antimicrobial Dressings, Bioengineered Skin Substitutes, Hydrocolloids); Application (Burn Wounds, Surgical Wounds, Diabetic Foot Ulcers, Venous Leg Ulcers, Pressure Ulcers); End-Use (Hospitals Clinics, Ambulatory Surgical Centers, Other End-Uses) Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; and Rest of Europe); Asia-Pacific; Rest of World.

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ABSTRACT-

Global Bioactive Wound Management Market to Reach US$2.5 Billion by the Year 2026 Bioactive dressings refer to dressings made using natural resources that find application in managing both chronic and acute wounds. They contain bioactive substances that remain active during the process of wound healing. The global bioactive wound management market is growing led by factors including an ageing population, growing prevalence of tissue disorders, and escalating cases of chronic wounds. The growing prevalence of lifestyle associated disorders, especially diabetes is giving rise to diabetic foot ulcers, pressure ulcers, and venous leg ulcers. The number of people (adults aged between 20-79 years) with diabetes is expected to grow from about 463 million in 2019 to reach 700 million by 2045. These numbers also indicate the ratio of those suffering from Type II diabetes to increase in most countries. Overall, these growing cases represent opportunities and undeterred growth for global bioactive wound care management market in the coming years. At the same time, skin injuries and wound infection are also key factors driving demand for bioactive wound care management. Meanwhile, wound infection is one of the key concerns for both healthcare providers and patients across the world, and the need for effective care and management for lowering infection makes way for bioactive wound care management solutions. The market already offers technologically advanced products such as occlusive dressings for skin injuries that allow a moist environment to be maintained for promoting active healing, and keratin-based products that when used together with injury dressings allow re-epithelialization of damaged skin tissue.

Amid the COVID-19 crisis, the global market for Bioactive Wound Management estimated at US$1.6 Billion in the year 2020, is projected to reach a revised size of US$2.5 Billion by 2026, growing at a CAGR of 7.8% over the analysis period. Alginates, one of the segments analyzed in the report, is projected to grow at a 6.8% CAGR to reach US$826.1 Million by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Collagen-Based Dressings segment is readjusted to a revised 9.1% CAGR for the next 7-year period. This segment currently accounts for a 23.9% share of the global Bioactive Wound Management market. Alginate dressing is made using highly absorbent materials to promote wound healing. This dressing finds use in exudant wounds where excess fluid is present. A key trend in the advanced wound care market is the emergence of combination dressings which are prepared using various available products of wound dressings in several different combinations, most generally including a biological agent and an antimicrobial material. Collagen and foam dressings, collagen hydrocolloid dressings, silver collagen dressings, and silver alginate dressings are some of the combination dressings that are being used for the treatment of chronic wounds.

The U.S. Market is Estimated at $650.9 Million in 2021, While China is Forecast to Reach $211.3 Million by 2026 The Bioactive Wound Management market in the U.S. is estimated at US$650.9 Million in the year 2021. The country currently accounts for a 38.66% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$211.3 Million in the year 2026 trailing a CAGR of 9.8% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 6.4% and 6.8% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 7.5% CAGR while Rest of European market (as defined in the study) will reach US$220.8 Million by the end of the analysis period. North America has emerged as a leading global market for advanced wound care management technologies such as bioactive wound care dressings. The regional market benefits from a rapidly expanding base of ageing population, a sizeable diabetic population, and higher prevalence of chronic diseases. The Asia-Pacific market for bioactive wound management is fast growing owing to an expanding diabetic population, with increased incidence of infections, pressure ulcers and diabetic foot among others.

Antimicrobial Dressings Segment to Reach $434 Million by 2026 Antimicrobial dressings are wound dressings that include an antiseptic agent that helps destroy microorganisms present in the wound. These dressings are mainly used for wounds that fail to heal due to increasing bacterial load, and for wounds that have a high risk of infection. Rise in demand for these dressings is also due to the growing need to reduce hospital acquired infections, and rising prevalence of bacteria which is resistant to antibiotics. In the global Antimicrobial Dressings segment, USA, Canada, Japan, China and Europe will drive the 6.1% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$248.1 Million in the year 2020 will reach a projected size of US$377.5 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$27.8 Million by the year 2026. More

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About Global Industry Analysts, Inc. StrategyR™ Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world`s only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.

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SOURCE Global Industry Analysts, Inc.

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