Topical Wound Agents Market Size Is Estimated To Reach $2.2 Billion By 2026

The global topical wound agents market size is expected to reach USD 2.2 billion by 2026, expanding at a CAGR of 9.4%, according to a new report by Grand View Research, Inc. The rising prevalence of chronic injuries, growing number of surgical procedures, launch of technologically advanced products, and increasing cases of burns globally are the key driving factors for the market.

Topical wound agents generally provide adequate moisture to the bruise and allow autolytic debridement. The increasing prevalence of chronic injuries and rising number of surgical procedures are the key driving factors for market growth. For instance, as per a report published by the ScienceDirect in 2018, surgical infection has highest prevalence rate of around 4.0%, followed by diabetic foot ulcers which are around 3.4%. In addition, rising number of medical facilities for treating unhealed bruises across the globe is also expected to surge market growth over the forecast period. In May 2019, Dalvkot Wound Care (DWC) established the first medical facility for treating bruises in Bangalore, India, which aims to provide remedies to chronic injuries. Thus, such developments may boost the demand for topical wound agents, as they are specifically used for such conditions. Furthermore, new product launches by key players may also positively impact market growth. For instance, Arch Therapeutics, Inc., launched AC5 Topical Gel, which got its FDA approval in October 2019. This gel allows rapid injury healing with minimal risk of getting further complications. Therefore, such factors are anticipated to propel growth of the market over the forecast period.

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Topical Wound Agents Market Report Highlights

• In terms of revenue, the acute wounds segment held the largest share in 2018 owing to rising cases of burn and surgical bruises across the globe
• The creams segment held the largest market share and is expected to witness fastest growth rate over the forecast period owing to increasing incidence of diabetic and venous leg ulcers across the globe
• The hospital segment held the largest share in 2018 due to rising cases of road accidents worldwide
• The Asia Pacific topical wound agents market is expected to witness the fastest growth over the forecast period owing to rising number of diabetic patients in this region
• Prominent players present in the market are Smith & Nephew PLC.; Teva Pharmaceuticals USA, Inc.; and Mölnlycke Health Care AB.

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Topical Wound Agents Market Segmentation

Grand View Research has segmented the global topical wound agents market based on product, application, end use, and region:

Topical Wound Agents Product Outlook (Revenue, USD Million, 2015 - 2026)

• Creams
• Gels
• Sprays
• Others

Topical Wound Agents Application Outlook (Revenue, USD Million, 2015 - 2026)

• Chronic Wounds
• Diabetic Foot Ulcers
• Pressure Ulcers
• Venous Leg Ulcers
•  Others
• Acute Wounds
• Surgical & Traumatic
• Burns

Topical Wound Agents End-use Outlook (Revenue, USD Million, 2015 - 2026)

• Hospitals
• Clinics
• Others

Topical Wound Agents Regional Outlook (Revenue, USD Million, 2015 - 2026)

• North America
• U.S.
•  Canada
• Europe
• U.K.
•  Germany
• Asia-Pacific
• Japan
•  China
• Latin America
• Brazil
•  Mexico
• MEA
• South Africa
• Saudi Arabia

About Grand View Research        

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

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