Global Advanced Wound Care Market Size By Product (Moist Wound Dressings, Wound Therapy Devices), By Wound-Type (Surgical Wounds, Ulcers, Traumatic Wounds), By End-User (Hospitals, ASCs, And Wound Care Centres, Home Care Settings), By Geographic Scope And Forecast
Published Date: August - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format
Advanced Wound Care Market size was valued at USD 10.86 Billion in 2024 and is likely to reach USD 16.82 Billion by 2031, growing at a CAGR of 6.20% from 2024 to 2031.
Chronic illnesses are on the rise, and that's putting a strain on wound care. Plus, we've got a lot of older folks these days, and they tend to heal slower. So, it's no wonder that the demand for advanced wound care solutions is booming. And if you're thinking about jumping into this market, the Global Advanced Wound Care Market report is a must-have. It breaks down everything you need to knowthe different types of wounds, the trends that are shaping the market, and the competition you're going to face.
Global Advanced Wound Care Market Definition
AWC (Advanced Wound Care) products are intended to treat both acute and chronic wounds. Chronic wounds require more time to heal and are more costly to treat. Advanced wound care is becoming a routine treatment option for chronic wounds. Because of their efficiency and effectiveness in managing wounds by facilitating faster healing, conventional wound care products are frequently being replaced with advanced wound care products. Furthermore, they aid in maintaining a hydrated environment, maintaining a stable temperature, allowing the passage of oxygen, protecting the damaged region from external infection, and relieving discomfort associated with dressing changes.
Advanced wound care treatments like films, foams, hydrogels, and alginates have been game-changers for people with wound problems like ulcers and diabetes. However, the COVID-19 pandemic has taken a toll on the global advanced wound care market. The virus outbreak has forced many companies in this market to temporarily shut down their production facilities. On top of that, government restrictions have disrupted business operations, directly affecting the market's revenue growth.
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Global Advanced Wound Care Market Overview
Product releases and R&D efforts are projected to drive the Advanced Wound Care Market forward. The emergence of revolutionary wound care management products in India is likely to drive considerable growth in the Advanced Wound Care Market over the forecast period. For example, Axio Biosolutions, an India-based Medtech business, released MaxioCel, a next-generation wound care dressing constructed of chitosan, in New Delhi, India in February 2019. Patients suffering from chronic wounds such as , pressure ulcers, venous leg ulcers, skin abrasions, cavity wounds, and post-operative surgical wounds are likely to benefit from the product’s comfort and speedier healing.
Hey there! Advanced wound dressings have become all the rage these days. Why? Well, it's all thanks to advancements in technology, more surgeries being done, and the fact that chronic wounds are becoming more common around the world. Diseases like cancer, diabetes, and other autoimmune conditions are making people need better wound dressings. Plus, the rise of noncommunicable diseases like antimicrobial resistance (bugs that don't respond to antibiotics), unhealthy habits like being a couch potato or smoking, and excessive alcohol intake are all adding to this demand. Now, listen up. The markets for advanced wound care in Asia Pacific and Latin America are still like sleeping giants, with lots of room to grow. So, many companies are racing to get a slice of that pie. They see huge potential for expansion in these regions, especially for the big players in the industry. In a nutshell, advanced wound dressings are in high demand, and the future looks bright for those who can capitalize on the opportunities in emerging markets.
The high cost of chronic wound therapies and advanced wound care products may limit their acceptance, particularly in cost-sensitive areas such as Asia and the Rest of the World. In these areas, patients and clinicians choose less expensive advanced wound care solutions.
Global Advanced Wound Care Market Segmentation Analysis
The Global Advanced Wound Care Market is segmented on the basis of Product, Wound-Type, End-User, and Geography.
Advanced Wound Care Market, By Product
Moist Wound Dressing
Active Wound Care
Wound Therapy Devices
Based on Product, the market is bifurcated into Moist Wound Dressings, Wound Therapy Devices, and Active Wound Care. Currently, the Moist Wound Dressing segment holds the highest market share and is likely to witness strong growth during the forecasted period. This is due to the increasing prevalence of chronic and surgical wounds, as well as technological improvements. Hydrophilic polyurethane, a highly absorbent substance, is used to make foam dressings. The foam absorbs moisture, which contributes to the preservation of tissue integrity.
Advanced Wound Care Market, By Wound Type
Surgical Wounds
Ulcers
Traumatic Wounds
Burns
Others
Based on Wound Type, the market is bifurcated into Surgical Wounds, Ulcers, Traumatic Wounds, Burns, and Others. Currently, Surgical and Traumatic Wounds combined to hold the highest market share. The increase in market share is mostly attributable to an increase in the number of surgical operations done and an increase in the rate of SSIs. The significant frequency of pressure ulcers and venous leg ulcers in the elderly community can be related to the rising incidence of diabetic foot ulcers and diabetes.
Advanced Wound Care Market, By End User
Hospitals, ASCs, & Wound Care Centers
Home Care Settings
Others
Based on End User, the market is bifurcated into Hospitals, ASCs, and Wound Care Centres, Home Care Settings, and Others. Currently, the Hospitals, ASCs and Wound Care Centers segment holds the highest market share and is likely to maintain its market lead during the forecasted period. The primary market drivers for the growth of this end-user category include increasing hospital admissions for chronic wounds (such as diabetic foot ulcers, pressure ulcers, and venous leg ulcers) and the increased prevalence of hospital-acquired pressure ulcers and infections.
Advanced Wound Care Market, By Geography
North America
Europe
Asia Pacific
Rest of the World
Where do people need advanced wound care the most? Well, it depends on where you look. Right now, North America is the biggest player in the advanced wound care market. That's because there are a lot of folks there with chronic health problems that lead to injuries that don't heal easily. Plus, they're spending more money on treatments. But Asia Pacific is catching up fast. As people there get older and change their lifestyles, they're developing more chronic diseases. That means more wounds that need special care. Europe and the rest of the world aren't too far behind either. So, the market for advanced wound care is growing all over the place. It's all thanks to better technology and more people needing help with healing wounds.
Key Players
The “Global Advanced Wound Care Market” study report will provide a valuable insight with an emphasis on the global market including some of the major players are Smith & Nephew, URGO Medical, Baxter International, 3M, Molnlycke Healthcare AB, Integra Life Sciences, Conva Tec Group plc, and Medline Industries.
Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share and market ranking analysis of the above-mentioned players globally.
Key Developments
In March 2020, Smith & Nephew launched the PICO 14 Single-use NPWT System in the US. The new PICO 14 sNPWT includes an improved pump for usage in big wounds with reduced human interaction. When compared to normal dressings and traditional negative pressure, it has been demonstrated to enhance patient outcomes.
In January 2020, Conva Tec Group plc launched the ConvaMax, a sophisticated wound dressing that aids in the management of highly draining wounds such as surgical wounds, leg ulcers, and diabetic foot ulcers.
Report Scope
Report Attributes
Details
Study Period
2021-2031
Base Year
2024
Forecast Period
2024-2031
Historical Period
2021-2023
Unit
Value (USD Billion)
Key Companies Profiled
Smith & Nephew, URGO Medical, Baxter International, 3M, Molnlycke Healthcare AB, Integra Life Sciences, Conva Tec Group plc.
Segments Covered
By Product, By Wound-Type, By End-User, By Geography
Customization scope
Free report customization (equivalent up to 4 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope
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Let's Dive into the Market with Clarity We'll break down the market into bite-sized pieces, looking at both what people can afford and what they value. We'll tell you how much each segment is worth in billions of dollars. Where's the Action? We'll pinpoint which area and what part of the market are set to boom and who's leading the charge right now. Global SnapshotWhat's Happening in Different Parts of the World We'll show you how people in different regions are buying and using the product or service, and what's influencing these trends. Who's Who in the Market? We'll introduce you to the major players, how they stack up against each other, and what moves they've been making lately. Inside Look at the Big Players We'll give you the lowdown on each major companytheir history, strengths and weaknesses, and what products they're offering. What's Ahead for the Market? We'll look at what's driving growth in the industry and what challenges it might face. We'll cover both emerging and established markets. Unveiling the Forces Shaping the Market Using Porter's five forces analysis, we'll explore the factors that are making the market tick. From Start to FinishThe Product's Journey We'll map out the steps involved in bringing the product or service to market, from design to delivery. Opportunities and Growth Potential We'll identify areas where the market can expand and where future growth lies. Got Questions? We're Here for You For six months after you purchase our report, we've got your back. Just reach out, and we'll help you understand the market even better.
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