Topical Wound Agents Market Overview, Industry Analysis And Top Players Forecast

Posted by Neha Bora on March 13th, 2020

The Report Topical Wound Agents Market Size, Share & Trends Analysis Report By Product (Creams, Gels), By Application, By End Use, By Region (North America, Europe, APAC, Latin America, MEA), And Segment Forecasts, 2019 – 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.

Further key findings from the report suggest:

• 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.

Access Research Report of Topical Wound Agents Market @ https://www.grandviewresearch.com/industry-analysis/topical-wound-agents-market