Topical Wound Agents Market Size, Share & Trends Analysis Report By Product (Creams, Gels, Sprays, Others), By Application (Chronic Wounds, Acute Wounds), By End-use, By Region, And Segment Forecasts, 2023 - 2030

Topical Wound Agents Market Size, Share & Trends Analysis Report By Product (Creams, Gels, Sprays, Others), By Application (Chronic Wounds, Acute Wounds), By End-use, By Region, And Segment Forecasts, 2023 - 2030

Topical Wound Agents Market Growth & Trends

The global topical wound agents market size is expected to reach USD 2.80 billion by 2030, registering a CAGR of 8.1% from 2023 to 2030, according to a new report by Grand View Research, Inc. The rising prevalence of chronic injuries, growing number of surgical procedures, launch of technologically advanced products, and increasing cases of burns globally are the key driving factors for the market.

Topical wound agents generally provide adequate moisture to the bruise and allow autolytic debridement. The increasing prevalence of chronic injuries and rising number of surgical procedures are the key driving factors for market growth. For instance, as per a report published by the ScienceDirect in 2018, surgical infection has highest prevalence rate of around 4.0%, followed by diabetic foot ulcers which are around 3.4%. In addition, rising number of medical facilities for treating unhealed bruises across the globe is also expected to surge market growth over the forecast period. In May 2019, Dalvkot Wound Care (DWC) established the first medical facility for treating bruises in Bangalore, India, which aims to provide remedies to chronic injuries. Thus, such developments may boost the demand for topical wound agents, as they are specifically used for such conditions. Furthermore, new product launches by key players may also positively impact market growth. For instance, Arch Therapeutics, Inc., launched AC5

Topical Gel, which got its FDA approval in October 2019. This gel allows rapid injury healing with minimal risk of getting further complications. Therefore, such factors are anticipated to propel growth of the market over the forecast period.

Topical Wound Agents Market Report Highlights

• The acute wound segment is expected to expand significantly at 7.8% CAGR during the forecast period. Acute wounds generally have a high prevalence rate globally, comparable to surgical and traumatic bruises and burns.
• The creams segment accounted for the largest revenue share of over 40% in 2022. The segment is expected to further expand at the fastest CAGR of 8.4% during the forecast period.
• The hospitals segment is expected to hold a significant market share in 2022 due to the increasing demand for treating acute and chronic injuries. Also, the increasing incidence of diabetic foot ulcers and venous leg ulcers is anticipated to drive segment growth.
• Asia Pacific is expected to expand at the fastest CAGR of 8.7% over the forecast period. The presence of developing countries such as China, India, and Japan are anticipated to boost the market growth in this region.

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