Frequently asked questions
The global topical wound agent market was valued at USD 1848.5 Million in 2022.
The topical wound agent market is expected to grow at a CAGR of 6.9% between 2023 and 2030, reaching USD 3152.4 Million in 2030.
Antiseptics is the leading segment by the type of topical wound agent, holding over 40% share in value in 2022.
The chronic wounds segment governs the global demand for topical wound agents, holding a massive market share of over 35% in 2022.
The sprays & solutions segment will post the highest CAGR over the projection period.
North America is fueling the rapid growth of the topical wound agent industry, with over one-third of its share in 2022.
The top players include Smith & Nephew PLC, Dalvkot Wound Care, Mölnlycke Health Care AB, Teva Pharmaceutical Industries Ltd, Novartis AG, Pfizer Inc, Johnson & Johnson, Mylan N.V., AstraZeneca Plc, and Others.
The major drivers of the topical wound agent industry are the increasing prevalence of chronic diseases, the aging population, technological advancements in wound care, growing awareness of advanced wound care practices, and the rise in surgical procedures.
The major restraints of the topical wound agent industry consist of stringent regulatory compliance and testing requirements, the increasing cost of wound care products, the competitive market landscape, and the challenge of antibiotic resistance in wound pathogens.
The major opportunities in the topical wound agent industry are rooted in the advancements in wound care materials & technologies, the expanding home healthcare sector, and the trend towards self-administration solutions.