According to a recent report by P&S Market Research, the global wound care market was valued at approximately $24.5 billion in 2015, and it is expected to grow at a compound annual growth rate (CAGR) of 6.7% from 2016-2022. The wound care market is growing due to increasing geriatric population, growth in volume of surgeries and rising awareness about wound care products. Increasing cases of diabetes leading to pressure ulcer formation is further generating an increased demand for wound care products.
Among the types of wound care products, advanced wound care products segment is expected to witness the fastest growth during the forecast period. Among the various applications, surgical wounds segment accounted for the largest share in the global market in 2015, and it is expected to grow at a CAGR of 7.1% during the forecast period. In 2015, North America held the largest share in the global wound care market, whereas the Asia-Pacific market is expected to witness fastest growth, with a CAGR of 7.2% during the period.
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