Advanced Wound Care Market

Report Overview

According to the deep-dive market assessment study by Growth Plus Reports, the global advanced wound care market was valued at US$ 10.1 billion in 2020 and is expected to register a revenue CAGR of 9.4% to reach US$ 27.1 billion by 2030.

Market Fundamentals  

Advanced wound care products are designed to treat more complex wounds. This includes hydrogels, hydrocolloids, alginates, and film & foam dressings. Advanced wound care treatments revolve around the principle of moisture therapy, which provides moisture to the wound site to encourage natural cell repair while giving the wound room to breathe. Products utilized in moist wound care generally fit better around different wound shapes & sizes and are more resistant to environmental inhibitors & foreign particles.

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Market Dynamics

The global advanced wound care market revenue growth is mainly driven by the rising geriatric population and the increasing prevalence of chronic wounds globally. Furthermore, increasing investments & collaborations for launching technologically advanced wound care products is also supporting the revenue growth of the market. However, the high cost of treatment is likely to restrain the market revenue growth to some extent.

Market Ecosystem

The global advanced wound care market is analyzed from four perspectives: Product Type, Application, End-User, and Region.

Advanced Wound Care Market by Product Type

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Based on product type, the advanced wound care market is segmented into wound dressing, wound therapy devices, and others (grafts & matrices, topical agents, etc.). 

The wound dressing segment is further sub-segmented into foam dressings, alginate dressings, collagen dressings, hydrocolloid dressings, hydrogel dressings, film dressings, and other wound dressings (wound contact layers, hydrofiber dressings, superabsorbent dressings, etc.). 

The wound therapy devices are further sub-segmented into negative pressure wound therapy systems, electrostimulation devices, pressure relief devices, hyperbaric oxygen equipment, and others (debridement devices, wound assessment & monitoring devices, etc.). 

The wound dressing segment dominates the market with the largest revenue share owing to the lower cost of wound dressings and the rising prevalence of diabetes-associated ulcers, pressure ulcers, & venous leg ulcers.

Advanced Wound Care Market by Application

Based on application, the advanced wound care market is segmented into diabetic foot ulcers, pressure ulcers, arterial & venous ulcers, surgical & traumatic wounds, and burns. 

The surgical & traumatic wounds segment dominates the market with the largest revenue share. The revenue growth of the segment can be attributed to the rising geriatric population coupled with increasing surgeries for different chronic diseases.

Advanced Wound Care Market by End User

Based on end users, the advanced wound care market is segmented into hospitals, home care settings, and others (clinics, ambulatory care units, etc.). 

The hospital segment dominates the market with the largest revenue share owing to the rising number of trauma cases, road accidents & burn cases coupled with patient's preference to visit hospitals for treatment of such cases and an increasing number of surgeries performed in hospitals.

Advanced Wound Care Market by Region

Based on region, the global advanced wound care market is segmented into North America, Europe, Asia Pacific, and the Rest of the World (ROW). 

In terms of revenue share, North America dominates the advanced wound care market, followed by the Asia Pacific. The large revenue share of North America in the global market can largely be attributed to developed infrastructure, and the rising prevalence of chronic conditions such as obesity & diabetes resulting in chronic, surgical, & traumatic wounds. Furthermore, the presence of prominent players in the region and the high adoption of new wound care technologies & therapies are also expected to play a pivotal role in the revenue growth of the market.

Competitive Landscape

The prominent players operating in the advanced wound care market include:

• B. Braun Melsungen AG
• 3M
• Medline Industries, Inc
• Zimmer Biomet
• Smith+Nephew
• Integra LifeScience
• Cardinal Health
• DeRoyal Industries, Inc
• Mölnlycke Health Care AB
• ConvaTec Group PLC

Strategic Developments

• In Oct 2019, 3M completed the acquisition of Acelity Inc and its KCI subsidiaries worldwide for a total enterprise value of approximately $6.7 billion, including the assumption of debt and other adjustments. This acquisition is aimed to expand its business in medical dressings and related products.
• In Sept 2019, Imbed Biosciences, Inc. announced that it is awarded a $1.5 million two-year Small Business Innovation Research (SBIR) grant from the National Institute for Arthritis and Musculoskeletal and Skin Diseases (NIAMS) at the National Institutes of Health (NIH). The grant is aimed to support research to develop a bioresorbable wound dressing with silver and gallium metal ions that can kill bacteria hiding in biofilms in wounds.
• In Jul 2019, Advanced Medical Solutions Group plc received 510(k) approvals from the US FDA ("Food and Drug Administration") for the Group's Silver High-Performance Dressing and Silicone PHMB Foam Dressing.
• In Jun 2019, ConvaTec Group Plc, partnered with the European Wound Management Association (EWMA) to launch three research grants available to Nurses, Doctors, or Scientists working in the field of wound management.

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