Westford, USA, April 13, 2022 (GLOBE NEWSWIRE) -- The rising geriatric population, rising traumatic wounds, increasing the number of surgeries, and the rising incidence of illnesses like obesity and diabetes have all contributed to an increase in the prevalence of acute, chronic, and surgical wounds over the last decade. Diabetes and obesity can increase the overall incidence and complexity of wounds such as infections, ulcerations (leg or foot ulcers), and chronic wounds, all of which necessitate treatment (advanced wound management) and result in skyrocketing medical costs.
Advanced wound care treatments include hydrophilic foam dressings, hydrogels, hydro fibers, and alginates, which can absorb up to 20 times their weight, and help patients recover faster and more effectively. Incisions are usually used to drain abscesses. Because wounds on the plantar area heal slowly, a longer period of immobilization is required. This will raise demand for improved wound care products by stimulating demand for advanced wound management for faster wound healing.
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Furthermore, the Asia Pacific and Latin America, in comparison to Europe and North America, are comparatively untapped markets for advanced wound management, with enormous growth potential. As a result, numerous players are concentrating their efforts on expanding their presence in these areas. Major market players can benefit from emerging economies such as India, South Korea, Malaysia, Vietnam, Africa, and Middle Eastern countries such as Israel, Saudi Arabia, and the United Arab Emirates. Low regulatory hurdles, advancements in healthcare infrastructure, and increasing patient population, and rising healthcare expenditures all contribute to the market growth. Furthermore, regulatory rules in the Asia Pacific are more flexible and pro-business than in industrialized countries; which also influences the market growth.
Read market research report, " Global Advanced Wound Care Market is segmented By Product (Dressings (Foam, Hydrocolloid, Film, Alginate), NPWT, Debridement Devices, Grafts, Matrices, Topical Agents), By Wound Type (Surgical, Traumatic, Ulcers, Burns), By End-User (Hospital, Homecare) & By Region- Forecast and Analysis 2020-2027” by SkyQuest
The advanced wound care market is a fast-paced environment that has seen significant changes in recent years. The acquisition of minor firms by larger players is a major trend in this market. Small businesses have significant R&D capability but lack the financial resources to seek approvals and commercialize products. Large companies with deep pockets often buy tiny businesses and exploit their creative technologies to build cutting-edge products. Both companies' geographic presence is bolstered as a result of these purchases.
Based on the segment, the market is segmented into product, wound, and end-user. Among product types, the dressings segment accounted for the largest share in the advanced wound care market attributed to rising spending on chronic and surgical wounds, rising incidence of burn injuries, and technological developments in dressings. Among the wound, the surgical & traumatic wounds segment accounted for the largest share in the advanced wound care market. The growth of this category is being driven by factors such as the increasing number of surgical procedures performed and the rising frequency of chronic illnesses. While, among the end-user, the hospital segment accounted for the largest share in the advanced wound care market. The large number of treatment procedures conducted in hospitals and the availability of reimbursements are driving the growth of the segment.
The global advanced wound care market is segmented based on geography as North America, Europe, Asia-Pacific, South America, and the Middle East and Africa. The increasing demand for advanced wound treatment options such as advanced wound care products, the rising prevalence of chronic disorders, rising healthcare spending, and the highly developed healthcare system in the United States and Canada are all contributing to the growth of the North American advanced wound care market.
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Further, 3M Company (US), Smith & Nephew plc (UK), ConvaTec Group Plc (UK), Coloplast A/S (Denmark), Mölnlycke Health Care AB (Sweden), Integra LifeSciences Holdings Corporation (US), PAUL HARTMANN AG (Germany), B. Braun Melsungen AG (Germany), Cardinal Health Inc. (US), and Organogenesis Holdings Inc. (US) among others are some of the prominent players operating in the market. These prominent players are constantly adopting various growth strategies in order to stay afloat in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, and intensive R&D are some of the growth strategies adopted by these key players to thrive in the competitive market.
The report published by SkyQuest Technology Consulting provides in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions.
SkyQuest has segmented the global Advanced Wound Care market based on Product, Wound Type, End-User, and Region:
- Advanced Wound Care Product Outlook (Revenue, USD Million, 2020 - 2027)
- Dressings
- NPWT
- Debridement Devices
- Grafts
- Matrices
- Topical Agents
- Advanced Wound Care Wound Type Outlook (Revenue, USD Million, 2020 - 2027)
- Surgical
- Traumatic
- Ulcers
- Burns
- Advanced Wound Care End User Outlook (Revenue, USD Million, 2020 - 2027)
- Hospitals
- Homecare
- Advanced Wound Care Regional Outlook (Revenue, USD Million, 2020 - 2027)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Rest of Asia Pacific
- Central & South America
- Brazil
- Rest of CSA
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of MEA
- North America
List of Key Players of Advanced Wound Care Market
- 3M Company (US)
- Smith & Nephew plc (UK)
- ConvaTec Group Plc (UK)
- Coloplast A/S (Denmark)
- Mölnlycke Health Care AB (Sweden)
- Integra LifeSciences Holdings Corporation (US)
- PAUL HARTMANN AG (Germany)
- B. Braun Melsungen AG (Germany)
- Cardinal Health Inc. (US)
- Organogenesis Holdings Inc. (US)
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