The North America Topical Wound Agents Market would witness market growth of 7.3% CAGR during the forecast period (2023-2030).
Topical wound agents refer to a diverse range of products specifically formulated or designed to be applied directly to wounds on the skin's surface. These agents are intended to manage, treat, or aid in healing various types of wounds, including cuts, abrasions, burns, ulcers, and surgical incisions. They play a crucial role in wound care management by providing the conditions for optimal healing and reducing the risk of infection. It works by various mechanisms, including promoting wound healing, reducing inflammation, controlling moisture, preventing infection, and providing a protective barrier against external contaminants. The choice of a topical agent depends on the type and severity of the wound, the individual's medical condition, and the healthcare provider's recommendation.
Multiple wounds exhibit lengthy healing durations and are accompanied by bacterial colonization and infection, frequently resulting in prolonged inflammatory response, and slowed epithelialization. Topical wound care management necessitates the application of sophisticated medical products, including topical wound agents. It is primarily available as sprays, creams, emulsions, and lubricants. In addition to promoting autolytic debridement and smell reduction for the patient's comfort, topical wound agents facilitate quicker healing by ensuring the afflicted area has adequate moisture.
According to Statistics Canada, the 2021 Census recorded 861,000 individuals aged 85 and above, over twofold the figure reported in the 2001 Census. Over the age of 85, the population has increased by 12% since 2016, making it among the age groups experiencing the most rapid development. 2.3% of the population is currently 85 years of age or older. In the twenty-five years leading up to 2046, the elderly population is expected to grow nearly triple to 2.5 million individuals. Therefore, increasing road accidents and the growing elderly population in the region are generating demand in the market.
The US market dominated the North America Topical Wound Agents Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $685.2 million by 2030. The Canada market is experiencing a CAGR of 9.7% during (2023 - 2030). Additionally, The Mexico market would exhibit a CAGR of 8.7% 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 U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Topical Wound Agents Market is Predict to reach $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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