The Europe Topical Wound Agents Market would witness market growth of 8.0% CAGR during the forecast period (2023-2030).
The topical wound agents market has witnessed several notable developments to improve wound care, enhance healing outcomes, and address various challenges associated with acute and chronic wounds, such as advanced dressings, bioactive dressings, smart dressing, and negative pressure wound therapy. Advancements in the field of sophisticated dressings have been substantial. Dressings comprising novel substances, including hydrogels, foams, hydrocolloids, and alginates, have been developed by manufacturers. These dressings provide absorption, moisture regulation, and the establishment of an ideal healing environment. Antimicrobial agents are utilized in some to prevent infections.
Furthermore, bioactive dressings containing substances like silver, honey, or growth factors have gained attention for their ability to stimulate healing, control infection, and promote tissue regeneration. Technology integration into wound dressings has led to the creation of smart dressings embedded with sensors or indicators that monitor wound healing progress, detect infections, or measure pH and temperature changes, providing real-time data for healthcare providers. Advancements in negative pressure wound therapy systems have made topical wound agents more portable, user-friendly, and effective in managing complex wounds. These systems create a vacuum environment to promote healing by removing excess fluid, reducing edema, and promoting tissue granulation.
According to the European Federation of Pharmaceutical Industries and Associations (EFPIA), 25% of the working-age population has chronic illnesses. Annually, premature mortality among individuals of working age due to chronic diseases causes an economic detriment of €115 billion in the EU. Concerningly, 36% of EU individuals aged 65 and older were afflicted with at least two chronic diseases in 2020, and the prevalence of chronic diseases has increased at an accelerated rate over the past decade. In the EU, the prevalence of diabetes among adults has nearly doubled in the past twenty years, from approximately 17 million in 2000 to 33 million in 2019. The figure is expected to rise to 38 million by 2030. Therefore, the increasing rate of chronic disease in the region is increasing the demand in the market.
The Germany market dominated the Europe Topical Wound Agents Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $154.8 million by 2030. The UK market is showing a CAGR of 7.1% during (2023 - 2030). Additionally, The France market would register a CAGR of 8.9% during (2023 - 2030).
Based on End-use, the market is segmented into Hospitals, Clinics, and Others. Based on Application, the market is segmented into Chronic Wounds (Diabetic Foot Ulcers, Pressure Ulcers, Venous Leg Ulcers, and Others), and Acute Wounds (Surgical & Traumatic, and Burns). Based on Product, the market is segmented into Creams, Gels, Sprays, and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Topical Wound Agents Market will Hit $2.5 Billion by 2030, at a CAGR of 8.4%
The market research report covers the analysis of key stakeholders of the market. Key companies profiled in the report include Smith & Nephew PLC, Teva Pharmaceutical Industries Ltd., Molnlycke Health Care AB, Viatris, Inc. (Mylan N.V.), AstraZeneca PLC, Coloplast Group, Novartis AG, Pfizer Inc., Johnson & Johnson (Johnson & Johnson Services, Inc.), and ConvaTec Group PLC.
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