Active Wound Care Market Worth USD 2,039.9 Million at 5.2% CAGR Forecast by 2025

The Global Active Wound Care Market is expected to grow owing to the rising incidence of diabetic foot ulcers in aging population. According to the National Institute of Health (NIH), the incidence of diabetes is expected to increase to 366 million by 2030. Moreover, the study states that one out of every six diabetic people will suffer from diabetic foot ulcers during their lifetime.

Fortune Business Insights in its new report, titled “Active Wound Care Market: Global Market Analysis, Insights and Forecast, 2018-2025” predicts these numbers to increase in developed and developing countries over the next few years.

In the report, FBI predicts the global active wound care market to exhibit a CAGR of 5.3% during the forecast period, 2018-2025. The market covered a value of US$ 1361.7 Mn in the year 2017 and is anticipated to reach US$ 2039.9 Mn by the end of 2025. 

Strong Portfolio Enables Savvy Players Gain Competitive Advantage  

The global active wound care market is highly consolidated on account of strong product portfolio and diverse product offerings by some savvy players in the active wound care products space. Organogenesis, Inc., MiMedex, and Integra Life Sciences, are among the leading players in the global active wound care market. A well-established brand presence and a strong distribution channel have been instrumental towards the success of these players in the market.

Other market players operating in the active wound care market are MTF Biologics, Osiris Therapeutics, Inc., Tissue Regenix, Smith & Nephew, Acell Inc., and Solsys Medical. MTF Biologics in 2018, expanded its product portfolio by introducing AminoViable Band Membrane to heal acute wounds. The product helps in closure of active wounds in aging population.

Various new entrants are paving way into the active wound care market by introducing active wound care products in the allograft, xenograft, dermal substitutes, and cell-based therapies segment. This is mainly done to cater the unmet needs and growing demands of patient population across the world.

Rising Geriatric Population, coupled with Rising Prevalence of Chronic Diseases, Drives Market

“The growing prevalence of chronic diseases such as ulcers, cancer is witnessed mainly due to changing lifestyle,” said a lead analyst at FBI. “This will further lead to the rising number of surgeries across the world, thus boosting the active wound care market,” he added. The global active wound care market is expected to  witness high demand in developing and developed countries alike.

The rising support from governments towards various research initiatives in active wound care treatments and products will drive the market. In addition to this, rising geriatric population across the world leading to increasing number of diabetic foot ulcer cases fuels the demand for active wound care products.

Furthermore, several technological developments in active wound care product development will contribute to the growth of active wound care market in the coming years. All the above mentioned factors will help the active wound care market to gain traction in the next coming years.

As per product type, biological skin equivalents in the active wound care market is expected to emerge dominant throughout the forecast period. Also, biological dressings segment covered a share of 8.1%, whereas others covered a share of 3.9% in the active wound care market in 2017.

Recent Regulatory Approvals on Active Wound Care Products in the U.S. Drives Adoption in North America

North America is expected to lead the global active wound care market on account of rising prevalence of chronic wounds. In addition to this, governments in North America is aggressively putting efforts to reduce the overall active wound care treatment duration. 

This is further leading to the rising number of regulatory approvals regarding active wound care products such as growth factors and skin substitutes. These factors, combined with better healthcare reimbursement policies, are expected to create lucrative growth opportunities for the active wound care market in North America.

Moreover, the region covered a share of 53.4% in the global active wound care market in 2017. Asia Pacific is also anticipated to witness considerable growth in the active wound care market between 2018 and 2025 owing to rising population base and growing awareness on healthcare.

Browse Complete Report Details at https://www.fortunebusinessinsights.com/industry-reports/active-wound-care-market-100172

The global active wound care market can be segmented into the following categories: