Topical Wound Agents Market Size, Trends, Scope, Competitive Landscape and Forecast by 2030 - TMR

Topical Wound Agents: Introduction

Topical wound agents are medical preparations used to treat dermatological injuries. Topical wound agents are primarily formulated into creams, emulsions, oils, sprays, and others. Different type of agents are used for treatment of acute and chronic wounds. These agents are essentially used to control pain, inflammation, and infection.
Topical wound agents include antiseptics, antibiotics, and non-steroidal anti-inflammatory agents. Antibiotics are agents, which help to kill or inhibit the growth of microorganisms. Antiseptics and disinfectants are primarily used to control infection and NSAIDs used for pain management.
Topical wound agents are available in various forms such as creams, powders, lotions, gels, emulsions, and others

Key Drivers of Global Topical Wound Agents Market

Rise in prevalence of chronic wounds and increase in health care expenditure are projected to boost the growth of the global topical wound agents market during the forecast period. Chronic wounds include diabetic foot ulcer, pressure ulcer, and venous leg ulcer. Surge in the number of patients with diabetic foot ulcer and pressure ulcer boosts the growth of the global topical wound agents market. According to the American Diabetes Association, the lifetime risk of foot ulcer in patients with diabetes (type 1 or 2) could be as high as 34%. The global annual incidence rate of diabetic foot ulcer is 6.3%.
Increase in government initiatives and rise in awareness about wound infections among the general population fuel the growth of the global topical wounds agents market. Moreover, surge in health care funding and improving health care facilities contribute to the growth of the global topical wound agents market.

Are you a Start-up willing to make it Big in the Business? Grab an Exclusive PDF Brochure of Topical Wound Agents Market Report

Topical Gel Segment to Witness High Demand

In terms of product type, the global topical wound agents market can be classified into creams, gels, powders, emulsions, and others
The topical gel segment accounted for the largest share of the global topical wound agents market in 2019. The segment is projected to dominate the global topical wound agents market due to increase in use of topical gels in the treatment of burns and surgical bruises. Topical gels contain hydrogel, which helps in rapidly cooling wounds and relieving pain. Topical gels also provide adequate moisture to wounds and offer potential resistance against contamination.

Acute Wounds Segment to Witness Significant Growth

Based on application, the global topical wound agents market can be divided into acute wounds and chronic wounds. The acute wounds segment can be segregated into surgical & traumatic wounds and burns. The chronic wounds segment can be split into diabetic foot ulcer, pressure ulcer, venous leg ulcer, and others.
Acute wounds was the largest segment in terms of revenue in 2019. The segment is anticipated to witness strong growth during the forecast period. This can be attributed to high incidence rate of surgical & traumatic wounds and burns. According to the World Health Organization, in India, over 1,000,000 people are moderately or severely burnt every year and nearly 173,000 children in Bangladesh are moderately or severely burnt every year.

Hospital Pharmacies to be Most Promising Segment

In terms of distribution channel, the global topical wound agents market can be categorized into hospital pharmacies, retail pharmacies, and online pharmacies. Hospital pharmacies was the largest segment in terms of revenue in 2019. The segment is anticipated to witness strong growth during the forecast period due to increase in number of patients with acute and chronic wounds who require hospital visit.