Research Nester published a report titled “Topical Wound Agents Market: Global Demand Analysis & Opportunity Outlook 2033” which delivers a detailed overview of the global topical wound agents market in terms of market segmentation by product type, application, end-user, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with a detailed discussion on current and future market trends that are associated with the growth of the market.
The global topical wound agents market is projected to grow with a CAGR of ~9% over the forecast period, i.e., 2023 – 2033. The market is segmented by end-user into hospitals, clinics, and others. Amongst these, the hospitals segment is estimated to grow at a higher rate over the forecast period backed by the increasing occurrence of venous leg ulcers, and escalating number of patients’ hospitalized for the effective treatment of chronic and acute wounds.
The global topical wound agents market is projected to significantly grow owing to the increase in burns incidences, followed by the rising occurrence of various types of chronic wounds as they take much time to heal properly. Furthermore, growing count of diabetic foot ulcers and upsurge in post-surgical wounds are some of the major factors anticipated to drive the growth of the market in the coming years.
Regionally, the global topical wound agents market is segmented into five major regions comprising of North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in the North America region is estimated to witness significant growth over the forecast period owing to the escalating occurrence of chronic wounds, rising disposable income, and a notable upsurge in healthcare spending in the region.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
Proliferation in Chronic and Acute Wounds to Drive the Market Growth
In a research, it was found that per 1000 people, there were nearly 2.23 chronic wounds of mixed etiology.
Clinical preparations that are used to treat dermatological injuries are known as topical wound agents. There is an increasing need for efficient wound care as well as infection prevention and control in primary care settings as chronic and acute wounds pose serious public health risks. Topical wound agents are used to treating many chronic wound conditions, providing spectacular healing properties that support in patient recovery. As a result, such a factor is expected to drive global demand for topical wound agents.
However, manufacturers’ competitive pricing of topical treatment products, excessive price of chronic wound treatment, and patients’ preference for seeking urgent care are expected to operate as key restraints to the growth of the global topical wound agents market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global topical wound agents market which includes company profiling of AstraZeneca PLC, Teva Pharmaceutical Industries Ltd., Coloplast A/S, ConvaTec Limited, Smith & Nephew PLC, Mölnlycke Health Care AB, Novartis Pharma AG, Pfizer Inc., Johnson & Johnson Services, Inc., Viatris Inc., and others.
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The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts a detailed overview of the global topical wound agents market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching for possibilities, and other stakeholders to align their market-centric strategies according to the ongoing and expected trends in the future.