Global Patch Based Wound Healing Products Market – Industry Trends and Forecast to 2030

Patch Based Wound Healing Products Market Analysis and Size

Wound patches are a blessing for patients with chronic wounds that take a very long time to heal. Advanced wound care patches reduce scrambling, speed healing, and lessen inflammation. A significant drop in patient visits brought on by less time spent consulting with chronic patients affected the demand for wound care services and patches. The demand for various patches, including patches made of collagen formulation, patches made of povidone-iodine formulation, and others, increased due to the high traffic accidents and the return of services.

Data Bridge Market Research analyses that the patch based wound healing products market, valued at USD 1.32 billion in 2022, will reach USD 1.89 billion by 2030, growing at a CAGR of 4.62% during the forecast period of 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Patch Based Wound Healing Products Market Scope and Segmentation  

Market Definition

To reduce the risk of infection, the product known as a wound patch is used to treat acute and chronic wounds. These wound dressings are also employed in managing venous and diabetic leg ulcers. They essentially lessen inflammation, minimize scarring, and even hasten healing. They use various formulations, including collagen, silver, and povidone-iodine.

Patch Based Wound Healing Products Market Dynamics

Drivers

• Advanced dressing products create a surge in market expansion

The introduction of advanced dressing products, such as transparent advanced, thin hydrocolloid, composite, and transparent first-aid style dressings, will fuel the growth. For instance, in 2017, researchers at Nanyang Technological University (NTU), Singapore, created a new gel patch prototype enhanced with ANGPTL4, allowing for quick healing with little skin scarring. Both post-operative wounds and diabetic foot ulcers can be treated with this product. These innovations are anticipated to increase product demand and fuel market growth.

• Growing road accidents have created a surge in patch-based wound-healing products

As more car accidents occur, the market for patch-based wound healing products is predicted to expand. The World Health Organization (WHO) reports that middle- and low-income countries accounted for 93.0% of all traffic fatalities worldwide in 2018. Additionally, 34,439 car accidents were reported in the U.S. in 2016, up 5.8% from 2015, according to a report published in 2018 by Safer America Consumer Safety Information. Another report from the organization claims that approximately 1.3 million fatal car accidents are reported each year worldwide. Such occurrences are expected to raise product demand.

Opportunities

• The prevalence of diabetic foot ulcers creates lucrative opportunities.

Over the course of the forecast period, it is anticipated that the market for patch-based wound healing products will expand due to an increase in the incidence of chronic diseases and burn injuries. The market is also growing due to an increase in surgical procedures and the frequency of diabetic foot ulcers. In most Western countries, the annual incidence of diabetic foot ulcers was around 2.0%, according to a report released by the American Diabetes Association in 2018. It is anticipated that high usage for treating diabetic foot ulcers will favor market growth shortly.

• Government initiatives to start awareness programs surge in market expansion.

The market is expanding due to more government initiatives to start awareness programs. For instance, Wounds Australia created the Wound Awareness Week (WAW21) campaign in 2021 to inform people about the complications associated with chronic wounds and to raise awareness of the dangers, symptoms, and treatments. The campaign in 2022 concentrated on finding the answers required to spur national change for wounded people.

Restraints/Challenges

• High cost and unfavorable reimbursement limit the growth

The market for patch-based wound healing products is expected to experience growth challenges in the coming years due to the expensive nature of the therapy. In view of the rising patient demand for goods that facilitate quicker wound healing. The main problem facing the market is unfavorable reimbursement policies and their high cost, limiting the demand for the product and thus restraining the market growth.

• Delays in diagnosis and treatment can impede the market

Chronic wounds may become more severe if their diagnosis and treatment are delayed. For instance, diabetes can cause prevalent foot ulcers that, if left untreated, can heal more slowly, become infected, necessitate hospitalization, or even necessitate foot amputation. In addition, there are a lack of regulations and action plans from the governing bodies, access to a high-quality healthcare system, and public awareness of wounds that are difficult to heal. As a result, it limits the use of patch-based wound healing products and may lower diagnosis rates.

This patch based wound healing products Market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the patch based wound healing products market contact Data Bridge Market Research for an analyst brief, our team will help you take an informed market decision to achieve market growth.

Recent Developments

• In 2022, A novel study on wound healing that used a flexible patch made of self-bonded hydrogel was published in the ACS Nano Journal.
• In 2021, Medifil II collagen particles and SkinTemp II collagen sheets were two cutting-edge wound care management products that Human Biosciences Inc. (HBS) recently introduced in India.

Global Patch Based Wound Healing Products Market Scope

The patch based wound healing products market is segmented on the basis of formulation, application and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Formulation

• Povidone-iodine
• Silver
• Reamer
• Collagen
• Others

Application

• Chronic Wounds
• Acute Wounds
• Pneumatic
• Electric
• Battery

End User

• Hospitals
• Specialty Clinics
• Ambulatory Surgical Centers

Global Patch Based Wound Healing Products Market Regional Analysis/Insights

The patch based wound healing products market is analysed and market size insights and trends are provided by country, formulation, application and end user as referenced above.

The countries covered in the patch based wound healing products market report are  U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the market and will continue to flourish its trend of dominance during the forecast period. The region’s dominance is due to awareness and well-established healthcare infrastructure during the forecast period. Additionally, North America will continue to dominate the patch-based wound healing products market.

Asia Pacific will undergo the highest growth rate during the forecast period owing to the rising number of accidents and surgeries, which is also anticipated to fuel the growth of the patch-based wound healing products market in the upcoming years.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Competitive Landscape and Patch Based Wound Healing Products Market Share Analysis

The patch based wound healing products market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to patch based wound healing products market.

Some of the major players operating in the patch based wound healing products market are:

• 3M (U.S.)
• Convatec Inc. (U.K.)
• Integra LifeSciences (U.S.)
• Smith & Nephew plc (U.K.)
• B. Braun SE (Germany)
• Coloplast Pty Ltd  (Australia )
• Mölnlycke Health Care AB. (Sweden)
• Johnson & Johnson Private Limited (India)
• Harro Höfliger Verpackungsmaschinen GmbH (Grmnany)
• Sanara MedTech Inc. (U.S.)
• Reapplix A/S. (U.S.)
• Cardinal Health (U.S.)
• Ostomed (U.K.)
• Kerecis (U.S.)
• Axio Biosolutions Pvt Ltd (India)
• NANOVIBRONIX CORPORATION (U.S.)
• Human BioSciences (U.S.)
• DermaRite Industries, LLC. (U.S.)
• Winner Medical Co., Ltd. (China)
• Huhtamäki Oyj (Finland)

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