Number of pages: 120 | Report Format: PDF | Published date: 01 January, 2021
Historical Years – 2018 & 2019 | Base Year – 2020 | Forecasted Years – 2021-2031
The global advanced wound care market was pegged at US$ 10.1 billion in 2020 and is expected to witness a CAGR of 9.4% during the forecast period.
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 is mainly driven by the rising geriatric population and the increasing prevalence of chronic wounds globally. Increasing investments & collaborations for launching technologically advanced wound care products is also propelling the growth of the market. However, the high cost of treatment is likely to restrain the market growth to a certain extent.
Market Ecosystem
The global advanced wound care market has been 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 has been segmented into wound dressing, wound therapy devices, and others (grafts & matrices, topical agents, etc.). The wound dressing segment is further categorized 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.). Whereas, wound therapy devices are further categorized 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 dominated the market with the largest 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 has been segmented into diabetic foot ulcers, pressure ulcers, arterial & venous ulcers, surgical & traumatic wounds, and burns. Surgical & traumatic wounds dominated the market with the largest share. The 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 has been segmented into hospitals, home care settings, and others (clinics, ambulatory care units, etc.). Hospitals dominated the market with the largest share owing to the rising number of trauma cases, road accident & 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 has been segmented into North America, Europe, Asia Pacific, and the Rest of the World (ROW). North America dominated the advanced wound care market, followed by the Asia Pacific. The large 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. 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 growth of the market.
Competitive Landscape
Some of the prominent players operating in the advanced wound care market includes:-
Strategic Developments
|
Report Attribute |
Details |
|
Market size value in 2020 |
US$ 10.1 billion |
|
Revenue forecast in 2031 |
US$ 27.1 billion |
|
Growth Rate |
CAGR of 9.4% from 2021-2031 |
|
Base year for estimation |
2020 |
|
Forecast period |
2021-2031 |
|
Segments covered |
Product Type, Application, End User |
|
Regional scope |
North America, Europe, Asia Pacific, and the Rest of the World (ROW) |
The global advanced wound care Market was anticipated to clock US$ billion in 2020.
The global advanced wound care market is mainly driven by the rising geriatric population and the increasing prevalence of chronic wounds globally.
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
The growth rate of advanced wound care market is CAGR of 9.4% between 2021-2031
North America dominated the advanced wound care market, followed by the Asia Pacific
The advanced wound care market is projected to reach US$ 27.1 billion by 2031
*Insights on financial performance is subject to availability of information in public domain
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