Wound Wash Market is Expected to Reach USD 292.7 Million by 2034 and Grow at a Compound Annual Growth Rate of 3.9% | Future Market Insights, Inc.
The demand for wound wash in Germany is projected to grow at a compound annual growth rate (CAGR) of 3.1% from 2024 to 2034. By 2034, Germany is anticipated to represent 6.6% of global sales.
NEWARK, Del, July 01, 2024 (GLOBE NEWSWIRE) — As per Future Market Insights’ latest industry analysis, the wound wash market was valued at around USD 193.7 million in 2023 and is anticipated to exhibit a CAGR of 3.9% over the forecast period. By 2034, the market is set to gain a valuation of USD 292.7 million.
The number of specialized wound care center is growing at an incremental rate. The major factor cementing this trend is the surge in incidence of chronic wounds and associated cost of healthcare. The need for a comprehensive wound care center has emerged that can deliver quality wound care and yet be financially viable for common people.
The wound care center can be in the form of a free standing clinic, community hospital, or as academic hospital each having their pros and cons. Irrespective of the organization model the major factor that contributed to the success of wound care center is the team of multidisciplinary healthcare professional. Since treating a complex wound require extensive expertise, having a multidisciplinary team is instrumental in the success of wound care center.
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According to an estimate there are 6 million non- healing wound encountered annually in United States. The total approximate cost associated with treatment is $ 25 billion. Such statistics have led to around 10,000 physicians to practice wound care. This has led to increase of wound care center. As wound wash is a basic product that is required in the wound care, surge in would care center have also led to increase in sale of wound wash. Developments as such have fueled the wound wash market growth.
Key Takeaways from the Wound Wash Market Study:
- By product, the bulk solution is anticipated to hold a market share value of 82.3% in 2024. The main reason for its dominance is the cost effectiveness. Bulk solution is more cost effective compared to single use product and more suitable for use in large healthcare facilities.
- By packaging type, dispensing cap bottle will hold a 43.5% market share in 2024. The major reason for the dominance of dispensing cap bottle is its widespread used in hospital.
- By wound type, dominant market share was contributed by acute wound accounting for 57.7%. The major reason for the dominance is the high incidence of acute wound across all demographic population group.
- The United States emerges as the significant market, holding a dominant market share in 2024, and is expected to grow at a CAGR of 2.3%. The dominance is attributed to the robust healthcare system and increasing focus on patient care.
“Continuous rise in the surgical and trauma wound cased have provide wound wash market players with a huge opportunity to increase their revenue,” Says Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.).
Market Competition:
Establishing partnership with distributors to increase market penetration and introducing new products in the market are the key strategy of the leading manufacturers of the market among others to enhance their presence in the market and gain competitive edge over their competitors during the coming years. Following are a few examples of increased product capacity and launch of new service:
- In January 2023, Sonoma Pharmaceuticals, Inc. successfully secured a distribution and pricing agreement for its Microcyn Rx products, enabling the company to distribute its products through the Defense Logistics Agency.
- In April 2023, Sanara MedTech Inc. received FDA 510(k) clearance for its advanced surgical solution, BIASURGE.
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Key Company of the Wound Wash Market:
- McKesson
- Mölnlycke Health Care
- Cardinal Health
- Medline
- DermaRite Industries, LLC.
- Church & Dwight co.
- Winchester Laboratories, LLC
- Clyra Medical Technologies Inc.
- AMERX Health Care Corp
- Zuche Pharmaceuticals Private Limited
- Steroplast Healthcare Limited
- CD Medical
- NeilMed Pharmaceuticals Inc.
- Others
Key Segments of Wound Wash Market Report:
By Product:
As per product, the market has been categorized into single use saline and bulk solution.
By Packaging Type:
This segment is further categorized into dispensing cap bottle, trigger spray bottle, finger spray bottle, and single use bottle.
By Wound Type:
This wound type segment is bifurcated into acute wounds (surgical wounds, traumatic wounds, and burns) and chronic wounds (venous ulcers, pressure ulcers, diabetic foot ulcers, and others).
By End User:
Different end user includes hospitals, ambulatory surgical centers, clinics, long term care centers, home care settings, and wound care center.
By Region:
Industry analysis has been carried out in key countries of North America, Latin America, East Asia, South Asia & Pacific, Western Europe, Eastern Europe, and Middle East & Africa.
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Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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