Market Dynamics:
The wound care market is expected to witness significant growth over the forecast period owing to rising incidences of chronic ulcers and traumatic wounds globally. As per the data by American Burn Association, every year over 500,000 Americans suffer from burns serious enough to require medical treatment. Also, chronic ulcers such as diabetic foot ulcers, pressure ulcers and venous leg ulcers affect over 6.5 million patients in the US every year. Effective wound management with advanced dressings, tapes and other treatment devices is crucial to expedite wound healing and prevent infections in such cases. Another key driver fueling the market growth is the development of advanced wound care product portfolio by market players such as antimicrobial dressings, nano-fiber dressings and smart wound care devices. This is also expected to boost adoption. However, high cost of advanced wound care products is a major restraint for market growth.

Key Takeaways

The Global Wound Care Market Size is expected to witness high growth, exhibiting CAGR of 5.3% over the forecast period, due to increasing prevalence of chronic wounds and diabetes.

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