According to our latest study on “Bioactive Wound Management Market Forecast to 2027 – COVID-19 Impact and Global Analysis – by product, application, end user,” the market was valued at US$ 1,751.38 million in 2019 and is projected to reach US$ 3,057.12 million by 2027; it is expected to grow at a CAGR of 7.3% during 2020–2027. The report highlights trends prevailing in the global bioactive wound management market and the factors driving market along with those that act as hindrances.
The global bioactive wound management market based on product is segmented into alginates, collagen-based dressings, antimicrobial dressings, bioengineered skin substitutes, and hydrocolloids. The alginates segment held a largest share of the market in 2019; however, the bioengineered skin substitutes segment is estimated to register the highest CAGR during the forecast period; this projected growth is ascribed to the rising prevalence of rare diseases, increasing geriatric population prone to develop chronic wounds, and high use of these substitutes by healthcare providers in the management of chronic wounds.
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The growth of the bioactive wound management market is attributed to factors such as increasing cases of wounds and ulcers, growing number of surgical procedures carried out worldwide, and innovation in advanced wound care products. However, the high cost associated with wound care management restrains the growth of the market. Smith+Nephew, MiMedx, Integra LifeSciences, Organogenesis, Tissue Regenix Group Plc, Coloplast, Hartmann plc, Covalon Technologies Ltd., ConvaTec, and ETS Wound Care, LLC are among the leading companies operating in the bioactive wound management market.
Product launches, mergers and acquisitions, collaborations, and expansions are the commonly adopted by strategies by various companies to expand their footprint worldwide and meet the growing demand by expanding their respective product portfolios. The players operating in the bioactive wound management market adopted the strategy of product innovations to cater to changing customer demand worldwide, which also permits them to maintain their brand name globally.
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Bioactive Wound Management Market – By End User
Bioactive Wound Management Market – By Geography
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