Patch Based Wound Healing Products Market Worth $1.52 Billion by 2026

The global Patch Based Wound Healing Products Market size is expected to reach USD 1.51 billion by 2026, according to a new report by Grand View Research, Inc. It is projected to register a CAGR of 4.2% during the forecast period. Factors such as increasing prevalence of acute and chronic wounds, number of surgical procedures, incidence of road accidents, and demand for rapid wound healing products are expected to propel the market growth.

Increasing cases of chronic and acute wounds across the globe is anticipated to be the major growth driver for the market. As per a journal published by the ScienceDirect in 2018, prevalence of non-healing chronic wounds in the developed countries is around 1.0 to 2.0% of the population. Adoption of unhealthy and sedentary lifestyles, alcohol consumption, and smoking are some of the major factors contributing to the rise in prevalence of non-communicable diseases.

According to the National Diabetes Statistic Report, 2017, published by the Centers for Disease Control and Prevention (CDC), more than 100 million people in U.S. were living with diabetes or prediabetes in the same year. According to a report published by the American Diabetes Association in 2018, the annual incidence of diabetic foot ulcer was around 2.0% in most Western countries. Rising prevalence of acute wounds across the globe is anticipated to drive the patch based wound healing products market. As per the World Health Organization (WHO), over 1,000,000 people are registered, annually, as moderately or severely burnt. Rising incidence of burns is also anticipated to propel the product demand over the forecast period.

Browse Details of Report @
https://www.grandviewresearch.com/industry-analysis/patch-based-wound-healing-products-market

Further key findings from the report suggest:

• In terms of revenue, acute wounds segment held the largest market share in 2018 owing to the rising cases of road accidents and burn cases across the globe
• The collagen based wound healing products held the largest market share in 2018 owing to wide range of product application for the treatment of various types of wounds
• Asia Pacific patch based wound healing products market is expected to witness the fastest CAGR over the forecast period owing to the huge untapped market potential and rising number of road accidents
• Few of the prominent market players are Johnson & Johnson Services, Inc.; Smith & Nephew plc; Mölnlycke Health Care; Coloplast; 3M; and B. Braun Melsungen AG

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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, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.

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