The global topical wound agents market size is expanding at a CAGR of 9.4%, according to a new report by Radiant Insights, 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 Science Direct 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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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 Molnlycke Health Care AB.
Table of Contents
Chapter 1 Methodology and Scope1.1 Market Segmentation and Scope1.1.1 Estimates and forecast timeline1.2 Research Methodology1.3 Information Procurement1.3.1 Purchased database1.3.2 GVR’s internal database1.3.3 Secondary sources1.3.4 Primary research1.3.5 Details of primary research1.4 Information or Data Analysis1.4.1 Data analysis models1.5 Market Product & Validation1.6 List of Secondary Sources1.7 Objectives1.7.1 Objective 1: Understanding market dynamics in the given countries1.7.2 Objective 2: Understanding market estimates and forecasts1.7.3 Objective 3: Understanding attributes to provide elaborate details on the market structure & strategic undertakings & their impact1.7.4 Objective 4: Understanding key Product, type, and application scopes to conclude on the market size
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Chapter 2 Executive Summary2.1 Market Outlook2.2 Segment Outlook
Chapter 3 Topical Wound Agents Market Variables, Trends & Scope3.1 Market Lineage Outlook3.1.1 Parent market outlook3.1.2 Ancillary market outlook3.2 Penetration & Growth Prospect Mapping3.3 Market Dynamics3.3.1 Market driver analysis3.3.1.1 Increasing incidence of chronic diseases3.3.1.2 Rising geriatric population3.3.1.3 Increasing number of surgical applications3.3.2 Market restraint analysis3.3.2.1 High cost of wound treatment and topical agents3.4 Topical Wound Agents: Market Analysis Tools3.4.1 Industry analysis – Porter’s3.4.2 PESTLE analysis
Chapter 4 Topical Wound Agents Market: Segment Analysis, By Product, 2015 – 2026 (USD Million)4.1 Definition and Scope4.2 Product Market Share Analysis, 2018 & 20264.3 Segment Dashboard4.4 Topical Wound Agents Market, by Product, 2015 to 20264.5 Market Size & Forecasts and Trend Analyses, 2015 to 20264.5.1 Creams4.5.1.1 Creams market, 2015 – 2026 (USD Million)4.5.2 Gels4.5.2.1 Gels market, 2015 – 2026 (USD Million)4.5.3 Sprays4.5.3.1 Sprays market, 2015 – 2026 (USD Million)4.5.4 Others4.5.4.1 Others market, 2015 – 2026 (USD Million)
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