The global wound care sealants market size is estimated to expand at a substantial CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the increasing number of surgeries, advancing wound care products, and rising awareness level among the population.
Wound care sealants aid in the natural healing of damaged skin. Inflammation, blood clotting, tissue growth, and tissue remodeling are the four phases of this process. Furthermore, the healing process is complicated and delicate, making it vulnerable to infections and re-injury. Hence, wound care and wound management are critical to the healing process. The procedure can be aided by a variety of treatments such as skin protectants and adhesive bandages. Moreover, wound sealants offer a good option for closing surgical & non-surgical wounds and preventing external bleeding in pre-hospital trauma patients. A variety of kinds have been studied in order to meet specific requirements for their usage as wound sealants. Furthermore, wound sealants that are biocompatible and biodegradable have a lot of potential to replace stitches in most surgical operations.
The COVID-19 pandemic have an impact on the global wound care market in the preliminary stage of the pandemic in 2020. Due to worldwide shutdowns, postponed or canceled optional surgeries, and rapid shift of focus to COVID-19 medical care service, the market has experienced a substantial decline in the overall revenue during the complete lockdown imposed by government across regions. On the other hand, the demand for wound care products is expected to upsurge significantly due to increasing incidence of sport injury and road accidents.
Market Trends, Drivers, Restraints, and Opportunities
- Increasing prevalence of surgical, acute, and chronic wounds along with rising number of obesity & diabetes cases worldwide are some of the key factors boosting the market growth.
- Growing investment by governments for R&D activities for the development of novel products is expected to up surge the market growth in the coming years.
- Rising consumption of wound care sealants and technological advancement in the area of sealants production are propelling the market expansion.
- High cost involved in wound care sealants and absence of skilled healthcare workers are major challenges anticipated to hamper the market growth during the forecast period.
- Rapid development of new products and early stage approval by regulatory bodies for clinical trial are projected to offer immense opportunity for the market growth during the forecast period.
Scope of the Report
The report on the global wound care sealants market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Wound Care Sealants Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2020
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Historic Data
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2018–2019
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Forecast Period
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2021–2028
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Segmentation
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Types (Super Absorbers, Collagen, Films, Alginates, Foam Dressings, Hydrogels, and Hydrocolloids) and Applications (Clinics, Hospitals, and Others)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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C.R. Bard; Coloplast A/S; Smith and Nephew; ConvaTec Group PLC.; Baxter International, Inc.; 3M Company Inc.; Derma Sciences, Inc.; Hollister, Inc.; and Molnlycke Health Care.
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Market Segment Insights
Foam dressing segment is expected to grow at a rapid pace
Based on types, the global wound care sealant market is segregated as super absorbers, collagen, films, alginates, foam dressings, hydrogels, and hydrocolloids. The foam dressing segment is expected to grow at a rapid pace during the forecast period due to the widespread use of foam-based dressings as primary or secondary wound care on a variety of wounds with low to moderate exudates. Furthermore, growing geriatric population who are more likely to opt for surgeries, increasing awareness related to advanced wound care dressings, higher rate of road accidents & burns cases, rising prevalence of chronic infections & diabetic wounds are some of the key factors boosting the segment in the coming years.
Hospitals segment is projected to expand at a considerable CAGR
On the basis of applications, the market is segmented into clinics, hospitals, and others. The hospitals segment is projected to expand at a considerable CAGR during the forecast period due to increase in demand for technologically advanced tools for in-patients and premium chargers applied for test in hospitals. The hospitals segment represented over 45.4% of the global market share in 2020 and is expected to register robust growth in the coming years with wide availability of advanced facilities and presence of high-skilled medical staff including technicians, nurses, and doctors in hospitals.
North America is anticipated to constitute a key market share
In terms of regions, the global wound care sealant market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is anticipated to constitute a key market share during the forecast period owing to the increasing number of chronic conditions resulting in surgical, traumatic and chronic wounds, rising cases of burn injuries, high expenditure on surgical and chronic wounds, and developing advanced technology in this region.
As per the American Professional Wound Care Association (APWCA) estimation, chronic non-healing wounds affect almost 15% of Medicare enrollees, or 8.2 million people. Diabetic foot ulcers, which affect 19% to 34% of diabetic people, are one of the most prevalent types of chronic sores. Furthermore, as per the Centers for Disease Control and Prevention (CDCP) reports, over 50 million inpatient & outpatient surgical operations are executed in the U.S. each year, i.e. more than 100 million surgeries. Following a large number of surgical procedures, post-surgical wound care are widely adopted among patients.
Segments
The global wound care sealant market has been segmented on the basis of
Types
- Super Absorbers
- Collagen
- Films
- Alginates
- Foam Dressings
- Hydrogels
- Hydrocolloids
Applications
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- C.R. Bard
- Coloplast A/S
- Smith and Nephew
- ConvaTec Group PLC.
- Baxter International, Inc.
- 3M Company Inc.
- Derma Sciences, Inc.
- Hollister, Inc.
- Molnlycke Health Care
Competitive Landscape
Some of the major players competing in the global wound care sealant market are C.R. Bard; Coloplast A/S; Smith and Nephew; ConvaTec Group PLC.; Baxter International, Inc.; 3M Company Inc.; Derma Sciences, Inc.; Hollister, Inc.; and Molnlycke Health Care. These companies are implementing strategies such as technological advancements, innovative solution, new developed product launches, research initiatives, merger & acquisitions, and regional expansions to secure their advantageous position in the market.
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