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The global wound care market is being driven by the growing incidence of severe injuries, as well as the increasing product acceptance in the healthcare industry. The wound care market in North America continues to dominate due to the growing incidences of chronic wounds, favourable reimbursement policies, and an increase in the elderly population. The Asia Pacific, meanwhile, is anticipated to grow at the highest CAGR, with the development centred in Japan, China, and India. In addition, factors, including the growing focus of the key players in the emerging Asian countries, as well as government support, are driving the growth of this region's wound care market. The key drivers of the wound care market include the increased demand for quicker wound recovery, a boost in surgery, and the increasing incidences of chronic diseases like diabetes as diabetes, along with other chronic diseases, is the leading cause of persisting wounds.
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In October 2020, 3 M (NYSE: MMM), a leading player in the industry, announced it has purchased Acelity, Inc. and its regional KCI divisions of Apax Partners' (the Apax Funds) advised funds, along with the Canadian Pension Plan Investment Board (CPPIB) and the Public Pension Investment Board (PSP Investments) managed affiliates. Acelity is among the world's leading medical technology companies, focused on advanced wound care as well as specialty operating applications under the brand KCI.
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The key players in the global wound care market include companies 3M Company, BSN Medical GmbH, Mlnlycke Health Care AB, ConvaTec Healthcare B S.a.r.l., Acelity L.P. Inc., Medtronic Plc, Coloplast A/S, Smith & Nephew Plc, and others. The comprehensive report covers their market share, capacity, and latest developments like mergers and acquisitions, and capacity expansions.
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