Topical Wound Agents Global Market Report 2024

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 expansion observed during the historical period can be attributed to several factors, including the heightened prevalence of chronic diseases, increased occurrences of traumatic injuries, a rise in diabetes cases, heightened awareness regarding wound care practices, enhancements in healthcare infrastructure, improvements in regulatory policies, and an uptick in 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 anticipated growth in the forecast period can be attributed to several factors, including the increasing aging population, growing awareness about wound care management, rising funding for wound care research, greater adoption of wound care products, and the escalating incidence of diabetes and obesity. Key trends expected in the forecast period encompass advancements in bioactive dressings, technological innovations in wound care products, the integration of artificial intelligence for personalized treatment approaches, developments in tissue-engineered skin substitutes, and enhancements in telemedicine for wound management.

The surge in road accidents is anticipated to drive the expansion of the topical wound agent market in the foreseeable future. These accidents result from a combination of factors including human error, vehicle malfunctions, and environmental conditions. Topical wound agents play a crucial role in road accidents by offering immediate wound care, reducing the risk of infection, alleviating pain, promoting faster healing, minimizing scarring, and being easily applicable in various settings. For example, data from the National Highway Traffic Safety Administration, a US federal agency focused on transportation safety, indicated a 10.5% increase in motor vehicle crash fatalities in May 2022, estimating approximately 42,915 deaths compared to 38,824 in 2020. Hence, the upsurge in road accidents is fueling the growth of the topical wound agents market.

Major players in the topical wound agents market are embracing advanced wound care products utilizing silicone technology to enhance healing efficacy, improve patient comfort, and effectively address challenging wound care scenarios. Silicone technology in wound dressing involves the utilization of silicone materials to enhance adhesion, ensure gentle application, minimize pain during changes, and support improved healing. For instance, in January 2023, Convatec Group, a UK-based medical products and technologies company, introduced ConvaFoam, an advanced foam dressing series tailored to various wound types and stages of healing. These dressings feature advanced silicone for improved adhesion and enhanced absorbency, capable of managing fluids for up to seven days. They also include a patterned film for exudate monitoring and a superabsorbent layer, providing a simple yet advanced solution for wound care and skin protection.

In April 2023, Chiesi Farmaceutici S.p.A., an Italy-based pharmaceutical company, acquired Amryt Pharma for an undisclosed sum. This acquisition underscores a commitment to patient care and advancing treatments for various diseases, ultimately benefiting society and the environment. It enhances the capacity to deliver innovative therapies for rare diseases, thereby improving outcomes for patients with significant unmet needs. Amryt Pharma, a UK-based biopharmaceutical company specializing in topical wound agents, was the target of this acquisition.

Major companies operating in the topical wound agents market are Pfizer Inc., Johnson & Johnson, F. Hoffmann-La Roche Ltd., Bayer AG, Novartis AG, GlaxoSmithKline plc, 3M Company, Merck & Co. Inc., Teva Pharmaceutical Industries Ltd., Medline Industries LP, B. Braun SE, Bausch Health Companies Inc., Coloplast A/S, Dr. Reddy's Laboratories, Cipla Limited, Hartmann Group, Lupin Limited, Mölnlycke Health Care AB, Biocon Limited, Integra LifeSciences Corporation, Orion Corporation, Hollister Incorporated, BSN Medical, ConvaTec Limited, Sonoma Pharmaceuticals Inc.

North America was the largest region in the topical wound agents market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the topical wound agents market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the topical wound agents market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Topical wound agents refer to medications or substances directly applied to the skin to address wounds, injuries, or lesions, facilitating healing and averting infection through external use. These agents play a crucial role in ensuring the proper care and treatment of diverse wound types, ranging from minor cuts and scrapes to intricate chronic wounds.

The primary categories of topical wound agents include antiseptics, antibiotics, nonsteroidal anti-inflammatory agents (NSAIDs), and others. Antiseptics are compounds administered to the skin to hinder the growth of microorganisms such as bacteria and fungi, thereby mitigating infection risks in wounds. They are accessible in various formulations such as creams, lotions, powders, emulsions, gels, and others, catering to applications in both chronic and acute wound care settings, including hospitals, clinics, and other medical facilities.

The topical wound agents market research report is one of a series of new reports that provides topical wound agents market statistics, including the topical wound agents industry global market size, regional shares, competitors with topical wound agents market share, detailed topical wound agents market segments, market trends, and opportunities, and any further data you may need to thrive in the topical wound agents industry. This topical wound agents market research reports deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The topical wound agents market consists of sales of hydrogels, honey ointments, hydrocolloids, and foam dressings. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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