The ‘Global Advanced Wound Care Market Analysis, Size, Share, Scope, Report and Forecast 2023-2031’ by Expert Market Research, extensive outlook of the global advanced wound care market, assessing the market on the basis of its segments like product, wound type, end use, and major regions.
The report studies the latest updates in the market, along with their impact across the market. It also analyses the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
Advanced Wound Care Market Share, Size, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2031)
- Historical Market Size (2022): USD 9.4 billion
- Forecast CAGR (2023-2031): 6.90%
- Forecast Market Size (2031): USD 17.2 billion
A significant number of chronic wounds are associated with the geriatric population owing to their slower healing process. The growing geriatric population worldwide and the increasing need for adopting advanced wound care practices for their injuries is contributing to the growth of the advanced wound care market. The increase in surgery procedures coupled with the growing incidences of acute and chronic wounds and infections has further compelled more patients to opt for advanced wound care when standard wound care has failed.
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The advanced wound care market has gained prominence globally in the past few years due to the rising public awareness regarding the benefits of advanced wound care and their efficacy to speed up the healing process painlessly. The growing adoption of advanced wound care for healing diabetic foot ulcers, owing to the existence of a sizeable population of diabetics, is expected to increase the need for advanced wound care for chronic wounds.
The rising prevalence of cosmetic surgery procedures performed due to unfortunate instances of road accidents, burns, and trauma events is further boosting the growth of the market for advanced wound care. The demand for foam dressings is surging due to its absorption and insulation capabilities which makes it ideal for both partial and full-thickness wounds with minimal, moderate, or heavy drainages.
Advanced Wound Care Industry Definition and Major Segments
Advanced wound care refers to the intervention of advanced wound healing practices in order to treat chronic or non-healing wounds that have not adequately healed during the course of conventional treatment. Advanced wound dressings like hydrocolloid and hydrogel dressings protect the wound base or the tissues surrounding the wound by retaining moisture.
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On the basis of product, the market is segmented into:
- Infection Management
- Exudate Management
- Active Wound Care
- Therapy Devices
Based on wound type, the market is bifurcated into:
- Chronic Wounds
- Acute Wounds
On the basis of end use, the market is divided into:
- Hospitals and Clinics
- Community Health Service Centres
- Others
Based on region, the market is segmented into:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Advanced Wound Care Market Trends
The increased usage of bioactive dressings using materials like alginates, collagen, and hyaluronic acid coupled with the emergence of advanced wound healing therapies like pressure mapping are the key trends observed in this market. Rapid technological advancements and upsurge in global hospitalisation rates are further increasing the deployment of advanced wound care in hospitals and clinics, further propelling the growth of this market.
Efforts to understand the biological processes that occur in the wound bed and advanced research in production of novel products that provide hydration and antibacterial impacts have further bolstered the growth of the advanced wound care market. Furthermore, the availability of feasible anti-inflammatory options like honey dressing have promoted improved healing and are widely being adopted.
Increasing expenditure on healthcare by governments of various countries and easy regulations has made the atmosphere favourable for the augmentation of the advanced wound care market. The incorporation of AI-based devices in advanced wound healing techniques in order to bring improved healing rates and diagnostics of early signs of infections is forecasted to create a boom in this market in the anticipated period.
Key Market Players
The major players in the global advanced wound care market report are :
- Smith and Nephew plc
- Mölnlycke Health Care AB
- B. Braun Melsungen AG
- ConvaTec Group plc
- 3M Company
- Integra Life Sciences Holdings Corporation
- Coloplast Ltd.
- Cardinal Health, Inc.
- others
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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