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Advanced Wound Care Market To Reach USD 15.56 Billion By 2026 | CAGR of 4.5% | Reports And Data

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Advanced Wound Care Market To Reach USD 15.56 Billion By 2026 | CAGR of 4.5% | Reports And Data

February 16
15:18 2021
Advanced Wound Care Market To Reach USD 15.56 Billion By 2026 | CAGR of 4.5% | Reports And Data
The rising prevalence of diabetes, coupled with a significant surge in the geriatric population, is expected to boost market growth. Market Size – USD 10.80 Billion in 2019, Market Growth – CAGR of 4.5%, Market Trends – High risk of chronic wounds among the geriatric population and the amplifying need for advanced wound care products

The global advanced wound care market is expected to be valued at USD 15.56 Billion in 2027 from USD 10.80 Billion in 2019, registering a CAGR of 4.5% through the forecast period. Advanced wound care products are specifically designed to treat chronic wounds or acute and more complicated wounds, such as severe burns, surgical or post-operative wounds, and diabetic ulcers. These products usually comprise foam dressings, hydrocolloids, hydrogels, alginates, and film. The global advanced wound care market growth is significantly supported by the growing incidences of chronic and acute wounds or ulcers, rising prevalence of diabetes, growing geriatric population, and technological advancements in wound care management.

The global advanced wound care market has gained massive traction over the past years, owing to the increasing cases of accidents, rise in the number of surgical procedures being performed worldwide, growing incidences of surgical or traumatic wounds, increased investments in wound care research, and in promoting awareness programs. Leading players in the advanced wound care industry have been focusing on the technological advancements of wound care devices. For instance, the British medical equipment manufacturer Smith & Nephew launched the PICO 14 single-use negative pressure wound therapy (sNPWT) system in March 2020. The new wound care system requires minimal user intervention and involves a pump duration of up to 14 days. However, the market growth is majorly challenged by the high costs of advanced wound care products and augmented risks of infection or amputation associated with several products.

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Key findings of the report:

  • Based on wound type, the surgical wounds sub-segment is expected to garner around USD 4.76 Billion over the forecast timeline exhibiting a robust 5.1% CAGR. The rising incidences of diabetic foot ulcers, pressure ulcers, and surgical and post-operative wounds boosts the growth of this segment. Moreover, the growing number of surgeries performed due to accidents, trauma, and chronic ailments further drive the segment’s growth.
  • Among the various end-users, the hospitals & clinics segment is estimated to acquire USD 10.31 Billion by 2027 at a rapid CAGR of 4.7%. The rising hospital admissions for treatment of chronic wounds, such as diabetic foot and venous leg ulcers, growing incidences of wounds caused by hospital-acquired infections, and the escalating demand for avant-garde wound care products are the key factors propelling this segment’s growth.
  • The North American advanced wound care market is foreseen as the largest regional market, expected to accumulate approximately USD 6.40 Billion over the forecast period. The surging prevalence of chronic and acute wounds, rising patient pool, increasing demand for minimally invasive surgeries, and higher government spending on healthcare infrastructural advancement are predicted to accelerate the market growth in this region.
  • The leading companies engaged in the global advanced wound care market are 3M (U.S.), Medline Industries (U.S.), Smith & Nephew (U.K.), ConvaTec Group (U.K.), Mölnlycke Health Care (Sweden), Coloplast (Denmark), B. Braun (Germany), Medtronic (Ireland), Integra LifeSciences (U.S.), Cardinal Health (U.S.), Paul HARTMANN (Germany), BSN medical GmbH (Germany), Advanced Medical Solutions Group (U.K.), MiMedx Group, Inc. (U.K.) and Acelity L.P. (U.S.).
  • In February 2021, the Indian med-tech company, AxioBiosolutions, was granted the European CE certification for its cutting-edge, next-generation wound care product portfolio under the MaxioCel brand. The MaxioCel wound-care dressing product is based on the bioactive microfiber gelling technology and provides quicker healing.

 

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For the purpose of this study, the global advanced wound care market has been segmented on the basis of wound type, product type, end-user, and region:

By Wound Type (Revenue, USD Million; 2017-2027)

  • Surgical Wounds
  • Traumatic Wounds
  • Burns
  • Ulcers
    • Pressure Ulcers
    • Diabetic Foot Ulcers
    • Venous Ulcers
  • Others

By Product Type (Revenue, USD Million; 2017-2027)

Moist Wound Dressings

    • Foam
    • Hydrogel
    • Film
    • Hydrocolloid
    • Alginate
    • Collagen

Wound Therapy Devices

  • Pressure Relief Devices
  • Negative Pressure Wound Therapy Systems
  • Electrical Stimulation Devices
  • Hyperbaric Oxygen Equipment
  • Others

Active Wound Care

  • Artificial Skin and Substitutes
  • Topical Agents
  • Autografts
    • Allografts & Xenografts
    • Others

By End-user (Revenue, USD Million; 2017-2027)

  • Hospitals & Clinics
  • Home Care Settings
  • Others

By Region (Revenue, USD Million; 2017-2027)

Regional Outlook (Revenue in USD Billion; 2017–2027)

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • U.K.
    • Spain
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • South Korea
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Rest of LATAM
  • Middle East & Africa
    • Saudi Arabia
    • South Africa
    • Egypt
    • Rest of MEA


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Table of Content:

Chapter 1. Market Synopsis
    1.1. Market Definition
    1.2. Research Scope & Premise
    1.3. Methodology
    1.4. Market Estimation Technique

Chapter 2. Executive Summary

    2.1. Summary Snapshot, 2018-2027

Chapter 3. Indicative Metrics

Chapter 4. Advanced Wound Care Segmentation & Impact Analysis

    4.1. Advanced Wound Care Material Segmentation Analysis
    4.2. Industrial Outlook
         4.2.1. Market indicators analysis
         4.2.2. Market drivers analysis
                 4.2.2.1. Rapid Growth in the Geriatric Population
                 4.2.2.2. Rising Innovation in Advanced Wound Care Products
                 4.2.2.3. Increased Incidence of Diabetes & Associated Chronic Wounds
         4.2.3. Market restraints analysis
                 4.2.3.1. High cost of products for advanced wound care
    4.3. Technological Insights
    4.4. Regulatory Framework
    4.5. ETOP Analysis
    4.6. Porter’s Five Forces Analysis
    4.7. Competitive Metric Space Analysis
    4.8. Price trend Analysis

Chapter 5. Advanced Wound Care Market By Product Type Insights & Trends

    5.1. Product Type Dynamics & Market Share, 2020 & 2027
    5.2. Moist Wound Dressings

Continue…

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