Advanced Wound Care Market Size was Valued at USD 8,457 Million in 2018 and Grow at a CAGR of 6.5% by 2019 to 2026 | Valuates Reports

BANGALORE, India, Feb. 25, 2020 /PRNewswire/ -- The market size of advanced wound care was measured at USD 8,457 million in 2018 and is expected to hit USD 13,944 million by 2026, posting a 6.5 per cent CAGR from 2019 to 2026.

Wound care is categorized into two types namely traditional wound care (TWC) and advanced wound care (AWC). Advanced wound care products (AWC) are designed for treating acute & chronic wounds. Chronic wounds take longer to heal and are expensive to treat.

Modern wound care is emerging as a standard treatment option for chronic wounds. Traditional wound care products are being increasingly replaced with advanced wound care products due to their efficiency & effectiveness in healing. The advanced wound care market is segmented on the basis of product, application, end-user, and region to give an in-depth analysis.

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TRENDS INFLUENCING THE ADVANCED WOUND CARE MARKET SIZE

• Significant increase in the prevalence of chronic diseases such as diabetes and obesity, increase in the geriatric population, technological advances, problems associated with conventional wound healing procedures, and a boom in the adoption of evidence-based chronic wound therapies drive the growth of the advanced wound care industry.
• In addition, expanded education campaigns for advanced diagnosis & management of wound care, attempts to reduce the length of hospital stay to lower healthcare expenses, and increased propensity toward wound care products that improve clinical outcomes are other factors that contribute to market growth
• The geriatric population is growing at a significant rate, globally. There is a direct correlation between aging and wound healing process — with age, decreased cellular activity reduces the natural ability of the body to close and repair wounds. Hence this raise in geriatric population is invariable impacting the market growth of the Advanced wound care market.

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