Patch-based Wound Healing Market by Application and Geography - Forecast and Analysis 2022-2026

The patch-based wound healing market share is expected to increase by USD 329.13 million from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 4.8%.

This patch-based wound healing market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers patch-based wound healing market segmentation by application (acute wounds and chronic wounds) and geography (North America, Europe, Asia, and Rest of World (ROW)). The patch-based wound healing market report also offers information on several market vendors, including 3M Co., Advancis Medical, Axio Biosolutions Pvt Ltd, B. Braun SE, CliniMed Ltd, Coloplast AS, ConvaTec Group Plc, Essity Aktiebolag, Harro Hofliger GmbH, Healogics LLC, Integra Lifesciences Holdings Corp., Lohmann and Rauscher GmbH and Co. KG, Medipurpose Pvt. Ltd., Mediq, Medline Industries Inc., Medtronic Plc, Ostomed Ltd., Paul Hartmann AG, Richardson Healthcare Inc., and Smith and Nephew plc among others.

What will the Patch-based Wound Healing Market Size be During the Forecast Period?

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Patch-based Wound Healing Market: Key Drivers, Trends, and Challenges

The increasing demand for advanced wound healing products is notably driving the patch-based wound healing market growth, although factors such as delayed diagnosis of advanced and chronic wounds may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the patch-based wound healing industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Patch-based Wound Healing Market Driver

• The increasing demand for advanced wound healing products is one of the key drivers fueling the patch-based wound healing market growth.
• Chronic wounds take longer to heal and are more expensive to treat. However, a more modern approach to wound care is being included in the conventional approach to treating chronic wounds. 
• Modern wound care solutions are replacing conventional wound care products at an increasing rate because of their effectiveness and efficiency in treating wounds and promoting faster healing. 
• The increased rate of chronic injuries is one of the key factors contributing to the surge in demand for advanced wound care products. 
• Alginates and silver-containing advanced wound care products are also used to drain excess fluid from wounds and shield them from infections. These products contain chemicals that facilitate quick healing and encourage cell proliferation in the body. Such factors contribute to the growth of the global patch-based wound healing market during the forecast period.

Key Patch-based Wound Healing Market Trend

• The rise in the number of hospitals and surgical centers is one of the key patch-based wound healing market trends propelling the market growth.
• In both developed and developing countries, the number of hospitals and surgical centers is growing. Also, due to the growing patient population, different types of healthcare equipment are in great demand in these newly constructed surgical centers and hospitals.
• Developing countries like India and China have seen tremendous advancements in their healthcare infrastructure over the previous decade. For instance, in January 2020, China's National Development and Reform Commission (NDRC) planned to invest $43.5 million in the construction of hospitals in Wuhan. 
• The global patch-based wound healing market is likely to benefit from the large increase in the number of hospitals and surgical centers worldwide, as these are the primary end consumers of patch-based wound healing products. 

Key Patch-based Wound Healing Market Challenge

• Delayed diagnosis of advanced and chronic wounds is one of the factors hindering the patch-based wound healing market growth.
• Chronic wounds can become more serious as a result of delayed diagnosis and treatment. For instance, diabetes can cause very common foot ulcers, and delays in treatment can lead to slower healing, infection, hospitalization, or foot amputation. 
• In contrast to western countries, the rate of delayed diagnosis is significantly higher in emerging countries like Brazil, China, and India. This is brought on by a lack of regulations and action plans by governing authorities, a lack of access to well-developed healthcare infrastructure, and a lack of awareness among communities about difficult-to-heal wounds. Hence, these factors are primarily responsible for lower diagnosis rates and thereby limit the adoption of patch-based wound healing products in emerging countries. 

This patch-based wound healing market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global patch-based wound healing market as a part of the global healthcare equipment market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the patch-based wound healing market during the forecast period.

Who are the Major Patch-based Wound Healing Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

• 3M Co.
• Advancis Medical
• Axio Biosolutions Pvt Ltd
• B. Braun SE
• CliniMed Ltd
• Coloplast AS
• ConvaTec Group Plc
• Essity Aktiebolag
• Harro Hofliger GmbH
• Healogics LLC
• Integra Lifesciences Holdings Corp.
• Lohmann and Rauscher GmbH and Co. KG
• Medipurpose Pvt. Ltd.
• Mediq
• Medline Industries Inc.
• Medtronic Plc
• Ostomed Ltd.
• Paul Hartmann AG
• Richardson Healthcare Inc.
• Smith and Nephew plc

 

This statistical study of the patch-based wound healing market encompasses successful business strategies deployed by the key vendors. The patch-based wound healing market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Product Insights and News

• 3m.com - The company offers patch-based wound healing methods such as 3M Prevena therapy, 3M Tegaderm, 3M Veraflo therapy, and others.
• bbraun.com - The company offers wound care with silver dressings such as Askina, Calgitrol, and others which are intended to manage bioburden in acute and chronic wounds. Silver is used in various forms in wound dressings.
• coloplast.com - The company offers Biatain fiber as a patch-based wound healing solution which is a fiber dressing with absorbent gel.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The patch-based wound healing market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Patch-based Wound Healing Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the patch-based wound healing market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for the Patch-based Wound Healing Market?

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43% of the market’s growth will originate from North America during the forecast period. the US and Canada are the key markets for the patch-based wound healing market in North America. Market growth in this region will be slower than the growth of the market in Asia.

An increase in the incidence of diabetes, burns, accidents requiring surgery, and surgical site infections (SSIs), which makes adequate wound management necessary will facilitate the patch-based wound healing market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

 The COVID-19 pandemic in 2020 had a negative impact on the market in North America. However, in 2021, the demand for patch-based wound healing products rebounded as manufacturing units reopened and resumed their normal operations due to the introduction of COVID-19 vaccinations. Travel restrictions were removed due to which vehicle accidents increased. Also, the number of hospitals and surgical centers in the region is expected to increase during the forecast period, which will drive the growth of the regional market during the forecast period.

What are the Revenue-generating Application Segments in the Patch-based Wound Healing Market?

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The patch-based wound healing market share growth in the acute wounds segment will be significant during the forecast period. The acute wound which damages the epidermis of the skin is caused by a cut or puncture to the skin. Without proper healing measures, an acute wound might become a chronic wound, which further delays the healing. Acute wounds come in two varieties such as surgical and traumatic wounds. Medical experts might leave surgical wounds open to heal or close them with stitches. These factors may propel the segment growth during the forecast period.

This report provides an accurate prediction of the contribution of all the segments to the growth of the patch-based wound healing market size and actionable market insights on post COVID-19 impact on each segment.

 

Patch-based Wound Healing Market Scope
Report Coverage	Details
Page number	120
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Accelerate at a CAGR of 4.8%
Market growth 2022-2026	$ 329.13 million
Market structure	Fragmented
YoY growth (%)	4.2
Regional analysis	North America, Europe, Asia, and Rest of World (ROW)
Performing market contribution	North America at 43%
Key consumer countries	US, Canada, Germany, UK, and China
Competitive landscape	Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled	3M Co., Advancis Medical, Axio Biosolutions Pvt Ltd, B. Braun SE, CliniMed Ltd, Coloplast AS, ConvaTec Group Plc, Essity Aktiebolag, Harro Hofliger GmbH, Healogics LLC, Integra Lifesciences Holdings Corp., Lohmann and Rauscher GmbH and Co. KG, Medipurpose Pvt. Ltd., Mediq, Medline Industries Inc., Medtronic Plc, Ostomed Ltd., Paul Hartmann AG, Richardson Healthcare Inc., and Smith and Nephew plc
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Patch-based Wound Healing Market Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive patch-based wound healing market growth during the next five years
• Precise estimation of the patch-based wound healing market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the patch-based wound healing industry across North America, Europe, Asia, and Rest of World (ROW)
• A thorough analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of patch-based wound healing market vendors

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