Advanced Wound Care Market

Analysis from GMI Research finds that the Advanced Wound Care Market earned revenues of USD 8.5 billion in 2021 and forecast to touch USD 13.2 billion in 2029 will grow at a CAGR of 5.7%.

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Market Dynamic

Key Drivers and Emerging Trends

The increasing geriatric population rate followed by the growing incidences of diabetes are the two major factors that are responsible for the growth of the advanced wound care industry over the coming years. There has been a drastic increase in the prevalence of chronic wounds over the past few years. The increasing cases of diabetes and obesity have surged the total incidences and complexity of wounds such as infections, surgical wounds, and ulcerations, which need treatments and incur exorbitant medical expenses. As per the data published by the Department of Endocrinology of Nanjing University Medical School in 2019, the prevalence of diabetic foot ulcers in North America accounted for 13% among diabetes patients. In addition to this, the Centers of Disease Control and Prevention states that the overall prevalence of surgical site infections due to surgical wounds in the US was calculated to be around 2.8% in 2018. Hence, the strong prevalence of chronic and acute wounds is boosting the demand for products for its treatment.

Numerous leading players are emphasizing on bringing innovative and advanced wound products to capture the highest share in the market. For instance, in 2019, Axio Biosolutions introduced MaxioCel, the next generation wound dressing in the global market, MaxiCel is made up of chitosan and is mostly used in the treatment of chronic wounds. Thus, the rising investment in the R&D activities, along with the introduction of advanced wound healing products by the top players in the market, are the emerging advanced wound care industry trends that are contributing to the growth of the advanced wound care market share in terms of revenue.

Impact of COVID-19 on the market

As per the global advanced wound care industry market research report, due to the outbreak of the COVID-19 pandemic, the leading manufacturers in the market have witnessed disruption in their production and manufacturing operations due to the temporary shutdown of factories and manufacturing plants. However, the market is predicted to bounce back in 2021, while increasing at a significant rate from 2021 onwards.

Restraint in the Advanced Wound Care Market

The high cost of chronic wound treatments and advanced wound care products has led to a fall in their adoption rate, particularly in the Asian and RoW market. The physicians and patients in these regions are opting for traditional and basic wound care products as they have a lower cost.

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Product- Segment Analysis

Based on the Product, the dressings segment is predicted to dominate the global advanced wound care market during the forecast period. The growing incidences of chronic and surgical wounds is a major driver that is boosting the segment growth. Moreover, the numerous technological advancements such as the introduction of crab shell bandages, vacuum-esque bandages, and other products are further propelling the segment growth.

Wound Type – Segment Analysis

On the basis of the wound type, the surgical and traumatic wounds segment is expected to lead the market during the forecast period. The increasing incidences of diabetes and diabetic foot ulcers driven by the high prevalence of pressure ulcers and venous leg ulcers in the geriatric population is a significant factor that is surging the growth of the segment in the market.

End User – Segment Analysis

Based on the End User, the Hospitals, ASCs, and wound care centers segment is anticipated to witness a faster CAGR during the forecast period. This is attributed to the increasing prevalence of surgical and chronic wounds, along with the rising incidences of burn injuries and associated SSIs and HAIs.

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Regional – Segment Analysis:

Based on the region, North America is projected to lead the global advanced wound care market during the forecast period. This is mainly due to the increasing prevalence of chronic conditions which have resulted in chronic, surgical, and traumatic wounds. Furthermore, the rising incidences of burn injuries, followed by the increasing spending on surgical and chronic wounds are opening new doors for the growth of the advanced wound care US market. There has been an increase in the reimbursement policies in the US and Canada which are attracting new end-user base towards the market.

Top Market Players

The leading advanced wound care companies are 3M, Smith-Nephew, ConvaTech Group PLC, Coloplast Group, Mölnlycke Health Care AB, Integra LifeSciences Corporation, PAUL HARTMANN LIMITED, B. Braun Melsungen AG, Cardinal Health, and Organogenesis Inc., among others. 

Key Developments:                                                 

• • In 2020, Smith-Nephew launched the PICO 14 Single Use Negative Pressure Wound Therapy System (sNPWT), which has pump duration of upto 14 days. The new pump has various features and advantages of previous PICO sNPWT variants and has an improved quality of pump which needs less user intervention.
  • In 2021, 3M acquired Acelity and its KCI subsidiaries around the world for $6.7 million, including all assumption of debt and other adjustments.

Segments covered in the Report:

The global Advanced Wound Care market has been segmented on the basis of Product, Wound Type, End User and key regions. Based on Product, the market is segmented into Dressings, Devices & Accessories, Grafts & Matrices and Topical Agents. Based on Wound Type, the market is segmented into Surgical & Traumatic Wounds, Diabetic Foot Ulcers, Pressure Ulcers, Venous Leg Ulcers and Burns & Other Wounds. Based on End User, the market is segmented into Hospitals, ASCs and Wound Care Centers, Homecare Settings and Other End Users. 

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Key questions answered in this research report:

• • At what pace is global Advanced Wound Care market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Advanced Wound Care market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Advanced Wound Care market?
  • Which Product generated maximum revenues in 2021 and identify the most promising Product during the forecast period?
  • What are the various wound types of global Advanced Wound Care market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Revenues (2021)	USD 8.5 billion
Market Base Year	2021
Market Forecast Period	2022-2029
Base Year & Forecast Units	Revenues (USD Billion)
Market Segment	By Product, By Wound Type, By End User, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	3M, Smith-Nephew, ConvaTech Group PLC, Coloplast Group, Mölnlycke Health Care AB, Integra LifeSciences Corporation, PAUL HARTMANN LIMITED, B. Braun Melsungen AG, Cardinal Health, and Organogenesis Inc., among others; a total of 10 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Advanced Wound Care Market by Product

• • Dressings
  • Devices & Accessories
  • Grafts & Matrices
  • Topical Agents

Global Advanced Wound Care Market by Wound Type

• • Surgical & Traumatic Wounds
  • Diabetic Foot Ulcers
  • Pressure Ulcers
  • Venous Leg Ulcers
  • Burns & Other Wounds

Global Advanced Wound Care Market by End User

• • Hospitals, ASCs and Wound Care Centers
  • Homecare Settings
  • Other End Users

Global Advanced Wound Care Market by Region

• • North America Advanced Wound Care Market (Option 1: As a part of the free 25% customization)
    • By Product
    • By Wound Type
    • By End User
    • US Market All-Up
    • Canada Market All-Up
  • Europe Advanced Wound Care Market (Option 2: As a part of the free 25% customization)
    • By Product
    • By Wound Type
    • By End User
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up
  • Asia-Pacific Advanced Wound Care Market (Option 3: As a part of the free 25% customization)
    • By Product
    • By Wound Type
    • By End User
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up
  • RoW Advanced Wound Care Market (Option 4: As a part of the free 25% customization)
    • By Product
    • By Wound Type
    • By End User
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating in the Advanced Wound Care (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • 3M
  • Smith-Nephew
  • ConvaTech Group PLC
  • Coloplast Group
  • Mölnlycke Health Care AB
  • Integra LifeSciences Corporation
  • PAUL HARTMANN LIMITED
  • Braun Melsungen AG
  • Cardinal Health
  • Organogenesis Inc.