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Topical Wound Agents Global Market Overview, Scope, Market Trends, and Key Factors 2033 | Novartis AG, 3M Company, Medtronic plc, Medline Industries LP, BEIERSDORF AG
Topical Wound Agents Market
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According to The Business Research Company's, The topical wound agents market size has grown strongly in recent years. It will grow from $1.62 billion in 2023 to $1.76 billion in 2024 at a compound annual growth rate (CAGR) of 8.7%. The growth in the historic period can be attributed to increased prevalence of chronic diseases, increased incidences of traumatic injuries, growth in incidence of diabetes, heightened awareness about wound care, improved healthcare infrastructure, improvements in regulatory policies, and higher incidences of surgical procedures.
The topical wound agents market size is expected to see strong growth in the next few years. It will grow to $2.46 billion in 2028 at a compound annual growth rate (CAGR) of 8.8%. The growth in the forecast period can be attributed to increasing aging population, growing awareness about wound care management, increasing funding for wound care research, increasing adoption of wound care products, and rising incidence of diabetes and obesity. Major trends in the forecast period include advancements in bioactive dressings, technological innovations in wound care products, integration of artificial intelligence for personalized treatment, innovations in tissue-engineered skin substitutes, and advancements in telemedicine for wound management .
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Market Drivers and Trends:
The increasing prevalence of cancer is expected to propel the growth of the rare biomarker specimen collection and stabilization market going forward. Cancer is a group of diseases defined by the uncontrolled proliferation and spread of abnormal cells. The prevalence of cancer is rising owing to environmental pollutants and lifestyle factors, such as smoking and poor diet choices, exacerbating genetic predispositions. The utilization of rare biomarker specimen collection and stabilization methods in cancer prevalence studies facilitates more accurate detection and monitoring of specific cancer types, enhancing diagnostic and therapeutic approaches. For instance, in October 2023, according to a report by the European Commission, a Europe-based governing body, new cancer cases rose to 2.74 million in 2022, indicating a 2.3% increase from 2020. Therefore, the increasing prevalence of cancer is driving the growth of the rare biomarker specimen collection and stabilization market.
Major companies operating in the topical wound agent market are focused on developing technological products, such as silicone-based wound care products, to improve patient comfort and effectively address challenging wound care scenarios. Silicone-based wound care products utilize the unique properties of silicone to promote wound healing, manage scars, and provide effective wound management. For instance, in January 2023, Convatec Group, a UK-based medical products and technologies company, launched ConvaFoam, a new line of advanced foam dressings for various wound types and stages, offering a simple, advanced solution for wound care and skin protection. The ConvaFoam family of dressings includes enhanced silicone technology for better adhesion and absorbency and can handle fluids for up to seven days. They include a patterned film for monitoring exudate and a superabsorbent layer.
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Major Key Players of the Market:
Pfizer Inc, Johnson & Johnson, Novartis AG, 3M Company, Medtronic plc, Medline Industries LP, BEIERSDORF AG, B. Braun Holding GmbH and Co. KG, Smith & Nephew, Coloplast A/S, Mallinckrodt Pharmaceuticals, Mölnlycke Health Care AB, Integra LifeSciences Corporation, Hollister Incorporated, Quantum Health, Vericel Corporation, Advanced Medical Solutions Group plc, Derma Sciences Inc., Dermarite Industries LLC, ConvaTec Limited, Sonoma Pharmaceuticals Inc, Osiris Therapeutics Inc., Arch Therapeutics Inc, Leap Therapeutics Inc., Systagenix Wound Management
Topical Wound Agents Market 2024 Key Insights:
• The topical wound agents market size is expected to see strong growth in the next few years. It will grow to $2.46 billion in 2028 at a compound annual growth rate (CAGR) of 8.8%.
• Rising Cases Of Traumatic Events And Road Accidents Is Driving Growth Of Topical Wound Agent Market
• Advanced Wound Care Products To Enhance Healing Efficiency
• North America was the largest region in the topical wound agents market in 2023
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