Increasing awareness about wound and tissue care products available in the market will be driving the market in the upcoming years. The global wound & tissue care market was valued at USD 29.4 billion in 2018 and is expected to reach USD 45.0 billion by 2025 at a CAGR of 6.3%.
Increasing prevalence of diabetes, rapid growth in geriatric population, developments and innovations in wound care products, increasing funding for wound care research, and awareness programs for wound care treatment and management are expected to promote the wound & tissue care market expansion over the forecast period. In addition to these, increasing recreational events, growing adoption in residential areas, rising aging population followed by increasing number of hospitals worldwide are expected to augment the global wound & tissue care market over the projected period.
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- Based on the type, traditional adhesive bandages have dominated the market and accounted for 26.6% of the global wound & tissue care market in 2018.
- Based on applications, the surgical segment is expected to grow at a CAGR of around 6.5% during the forecast period
- In August 2017, 3M India showcased patented solutions for Indian healthcare. 3M R&D centre launched its portfolio of healthcare products at ‘Tech Connect’. The following products were showcased: 3M Tegaderm, 3M ultra rapid multi-enzyme cleaner formulation, 3M Ioban antimicrobial incise drapes, and 3M compression tape.
- In December 2015, Acelity Acquires SNaP® Disposable Negative Pressure Wound Therapy System to Expand Offering in Portable, Non-Powered NPWT Technology. The acquisition of the SNaP® business accelerates Acelity’s plans for disposable NPWT and increases access to the post-acute market by strengthening the company’s portfolio of offerings for customers in need of comprehensive wound care solutions.
- In May 2018, The Wound and Skin Care Division of Coloplast U.S. announced the launch of Biatain Silicone with 3DFit Technology. Biatain Silicone now offers a full-range portfolio of foam dressings designed to give health care professionals versatility in the management of exuding wounds or in the prevention of pressure injuries.
- In Feb 2018, Coloplast A/S acquires the German direct-to-consumer homecare company IncoCare Gunhild Vieler GmbH (IncoCare) to further strengthen its position in Germany. Together, Coloplast and IncoCare will bring innovative products and services to more users across Germany.