WASHINGTON, April 10, 2023 (GLOBE NEWSWIRE) -- The Global Advanced Wound Care Market is valued at USD 9.50 Billion in 2022 and is projected to reach a value of USD 14.69 Billion by 2030 at a CAGR (Compound Annual Growth Rate) of 5.60% over the forecast period 2023-2030.
Market Overview:
The Global Advanced Wound Care Market is expected to grow at a CAGR of 5.60% from 2023 to 2030. The growth of the market is attributed to the increasing prevalence of chronic diseases, such as diabetes, obesity, and cardiovascular diseases, which are major risk factors for chronic wounds. Additionally, the rising geriatric population is also expected to drive the market growth, as the geriatric population is more susceptible to chronic wounds.
The Advanced Wound Care Market is segmented on the basis of product type, application, end-user, and region. Based on product type, the market is segmented into dressings, negative pressure wound therapy (NPWT), growth factors, and others. The dressings segment is expected to account for the largest share of the market during the forecast period. This is attributed to the increasing use of dressings for the management of chronic wounds. Dressings help to create a moist wound environment, which is essential for the healing of chronic wounds.
Get Access to Free Sample Research Report with Latest Industry Insights @ https://www.vantagemarketresearch.com/advanced-wound-care-market-1849/request-sample
Market Dynamics
- The Global Advanced Wound Care Market is driven by the rising prevalence of chronic diseases, such as diabetes, obesity, and cancer. These diseases are known to cause chronic wounds, which are difficult to heal and require specialized treatment. In addition, the increasing geriatric population is also expected to drive the market growth, as the geriatric population has slow healing capabilities.
- The Advanced Wound Care Market is also being driven by the technological advancements in the field of wound care. These advancements have led to the development of new and innovative products, such as negative pressure wound therapy (NPWT) and bioengineered skin substitutes. These products are more effective in treating chronic wounds and are expected to drive the market growth in the coming years.
Challenges
- Despite the growth potential, the Advanced Wound Care Market faces some challenges. One of the major challenges is the high cost of advanced wound care products. These products are often expensive, which can make them inaccessible to people in low- and middle-income countries. In addition, the reimbursement policies for advanced wound care products are often complex and can make it difficult for patients to access these products.
- Another challenge facing the Advanced Wound Care Market is the lack of awareness about advanced wound care products. Many people are not aware of the benefits of advanced wound care products and are not sure when to use them. This can lead to delays in treatment and can make it more difficult to heal chronic wounds.
Opportunities and Recommendations
- Despite the challenges, the Advanced Wound Care Market offers significant opportunities for growth. One of the major opportunities is the increasing prevalence of chronic diseases. As the population ages, the prevalence of chronic diseases is expected to increase. This will create a large market for advanced wound care products.
- Another opportunity is the technological advancements in the field of wound care. These advancements are leading to the development of new and innovative products, which can improve the treatment of chronic wounds. These products can be used to treat a wider range of wounds and can be more effective than traditional methods.
- The Advanced Wound Care Market is also being driven by the increasing awareness about advanced wound care products. As more people become aware of the benefits of advanced wound care products, the demand for these products is expected to increase.
The recommendations for the Advanced Wound Care Market include:
- Developing new and innovative products that are more effective in treating chronic wounds.
- Reducing the cost of advanced wound care products to make them more accessible to people in low- and middle-income countries.
- Increasing awareness about advanced wound care products to improve the treatment of chronic wounds.
- Developing reimbursement policies that make it easier for patients to access advanced wound care products.
Top Players in the Global Advanced Wound Care Market
- 3M Company (US)
- Smith & Nephew PLC (UK)
- ConvaTec Group PLC (UK)
- Coloplast A/S (Denmark)
- Molnlycke 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)
- Misonix Inc. (US)
- MiMedx Group Inc. (US)
- Zimmer Biomet Holdings Inc. (US)
- Lohmann & Rauscher GmbH & Co. KG (Germany)
- DeRoyal Industries Inc. (US)
- Medline Industries Inc. (US)
- DermaRite Industries LLC (US)
- Kerecis (Iceland)
- Advancis Medical (UK)
- Winner Medical Co. Ltd. (China)
- Hollister Incorporated (US)
- Mil Laboratories Pvt. Ltd. (India)
- Shield Line (US)
- ZENI Medical (US)
- Carilex Medical (Germany)
- Pensar Medical LLC (US)
- Wuhan VSD Medical Science & Technology Co. Ltd. (China)
- Haromed B.V. (Belgium)
Budget Limitation? Contact us for Special Discount and Pricing
Top Report Findings
- Based on wound type, the market is segmented into diabetic foot ulcers, pressure ulcers, venous ulcers, arterial ulcers, and others. Diabetic foot ulcers are the largest segment of the market, accounting for a major share of the market in 2022. This is attributed to the high prevalence of diabetes, which is a major risk factor for diabetic foot ulcers. Pressure ulcers are the second-largest segment of the market, and are expected to grow at the highest CAGR during the forecast period. This is attributed to the increasing number of people who are at risk of developing pressure ulcers. Venous ulcers are the third-largest segment of the market, and are expected to grow at a moderate CAGR during the forecast period. This is attributed to the increasing prevalence of venous insufficiency, which is a major risk factor for venous ulcers. Arterial ulcers are the smallest segment of the market, and are expected to grow at a slow CAGR during the forecast period. This is attributed to the low prevalence of arterial insufficiency, which is a major risk factor for arterial ulcers.
- Based on end user, the market is segmented into hospitals, clinics, and home care settings. Hospitals are the largest segment of the market, accounting for a major share of the market in 2022. This is attributed to the increasing number of people who are treated for chronic wounds in hospitals. Clinics are the second-largest segment of the market, and are expected to grow at the highest CAGR during the forecast period. This is attributed to the increasing number of people who are treated for chronic wounds in clinics. Home care settings are the third-largest segment of the market, and are expected to grow at a moderate CAGR during the forecast period. This is attributed to the increasing number of people who are treated for chronic wounds in home care settings.
- Based on geography, the market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. North America is the largest market for advanced wound care, accounting for a major share of the market in 2022. This is attributed to the high prevalence of chronic diseases, such as diabetes, obesity, and cancer in North America. Europe is the second-largest market for advanced wound care, and is expected to grow at the highest CAGR during the forecast period. This is attributed to the increasing prevalence of chronic diseases in Europe. Asia Pacific is the third-largest market for advanced wound care, and is expected to grow at a moderate CAGR during the forecast period. This is attributed to the increasing prevalence of chronic diseases in Asia Pacific. The Rest of the World is the smallest market for advanced wound care, and is expected to grow at a slow CAGR during the forecast period. This is attributed to the low prevalence of chronic diseases in the Rest of the World.
Top Trends in Global Advanced Wound Care Market
- Increasing prevalence of chronic diseases - The increasing prevalence of chronic diseases, such as diabetes, obesity, and cancer, is a major driver for the Advanced Wound Care Market. These diseases are known to cause chronic wounds, which are difficult to heal and require specialized treatment.
- Technological advancements - The technological advancements in the field of wound care are also driving the market growth. These advancements have led to the development of new and innovative products, such as negative pressure wound therapy (NPWT) and bioengineered skin substitutes. These products are more effective in treating chronic wounds and are expected to drive the market growth in the coming years.
- Regulatory reforms - The regulatory reforms in the healthcare sector are also expected to drive the market growth. The reforms are aimed at improving the access to advanced wound care products and services. This is expected to increase the demand for these products and services, thereby driving the market growth.
- Increased awareness - The increased awareness about the benefits of advanced wound care products is also expected to drive the market growth. The awareness is being created through various channels, such as print and electronic media, social media, and word-of-mouth. This is expected to increase the demand for these products and services, thereby driving the market growth.
- Competition - The competition in the Advanced Wound Care Market is expected to intensify in the coming years. The key players in the market are focusing on expanding their product portfolio and geographical reach. They are also focusing on strategic partnerships and collaborations to strengthen their position in the market.
- Investment in research and development - The key players in the market are investing heavily in research and development (R&D) activities to develop new and innovative products. They are also focusing on developing new technologies to improve the efficacy of the existing products. This is expected to lead to the development of new and innovative products, which is expected to drive the market growth in the coming years.
- Mergers and acquisitions - The key players in the market are also focusing on mergers and acquisitions to expand their product portfolio and geographical reach. This is expected to lead to the consolidation of the market, which is expected to drive the market growth in the coming years.
Buy this Premium Research Report with Discount | Immediate Delivery @ https://www.vantagemarketresearch.com/advanced-wound-care-market-1849/inquiry-before-buying
Recent Developments in the Global Advanced Wound Care Market
- In January 2023, ConvaTec Inc. (UK) launched ConvaMax, an advanced wound dressing that helps in managing highly exuding wounds, including leg ulcers, surgical wounds, and diabetic foot ulcers.
- In October 2022, 3M Company (US) acquired Acelity Inc. (US). This acquisition enhanced 3M's capabilities in advanced wound care, a significant and growing market segment.
- In September 2022, Smith & Nephew plc (UK) launched Allevyn Life, a new advanced wound dressing that is designed to provide up to 7 days of continuous wear.
- In August 2022, Molnlycke Health Care AB (Sweden) launched Mepilex Border Flex, a new advanced wound dressing that is designed to provide a moist wound environment and protect the peri-wound skin.
The Global Advanced Wound Care Market is segmented into five major regions: North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
- North America is the largest market for advanced wound care, accounting for a major share of the market in 2022. This is attributed to the high prevalence of chronic diseases, such as diabetes, obesity, and cancer in North America. The increasing geriatric population is also expected to drive the market growth, as the geriatric population has slow healing capabilities.
- Europe is the second-largest market for advanced wound care, and is expected to grow at the highest CAGR during the forecast period. This is attributed to the increasing prevalence of chronic diseases in Europe. The rising awareness about the benefits of advanced wound care products is also expected to drive the market growth in Europe.
- Asia Pacific is the third-largest market for advanced wound care, and is expected to grow at a moderate CAGR during the forecast period. This is attributed to the increasing prevalence of chronic diseases in Asia Pacific. The rising disposable income and the increasing healthcare expenditure are also expected to drive the market growth in Asia Pacific.
- Latin America is the fourth-largest market for advanced wound care, and is expected to grow at a slow CAGR during the forecast period. This is attributed to the low prevalence of chronic diseases in Latin America. However, the increasing awareness about the benefits of advanced wound care products is expected to drive the market growth in Latin America.
- The Middle East and Africa is the smallest market for advanced wound care, and is expected to grow at a slow CAGR during the forecast period. This is attributed to the low prevalence of chronic diseases in the Middle East and Africa. However, the increasing healthcare expenditure and the rising disposable income are expected to drive the market growth in the Middle East and Africa.
Browse market data Tables and Figures spread through 145 Pages and in-depth TOC on Advanced Wound Care Market Forecast Report (2023-2030).
Segmentation of the Global Advanced Wound Care Market:
By Product
The product segment is further sub-segmented into dressings, devices & accessories, grafts & matrices, and topical agents.
- Dressings: Dressings are the largest segment of the market, accounting for a major share of the market in 2022. This is attributed to the increasing use of dressings to treat chronic wounds. Dressings are used to protect the wound from infection, to absorb exudate, and to promote wound healing.
- Devices & accessories: Devices & accessories are the second-largest segment of the market, and are expected to grow at the highest CAGR during the forecast period. This is attributed to the increasing adoption of devices & accessories for the treatment of chronic wounds. Devices & accessories include negative pressure wound therapy (NPWT), hyperbaric oxygen therapy (HBOT), and electrical stimulation therapy.
- Grafts & matrices: Grafts & matrices are the third-largest segment of the market, and are expected to grow at a moderate CAGR during the forecast period. This is attributed to the increasing use of grafts & matrices for the treatment of chronic wounds. Grafts & matrices are used to replace damaged tissue and to promote wound healing.
- Topical agents: Topical agents are the smallest segment of the market, and are expected to grow at a slow CAGR during the forecast period. This is attributed to the low adoption of topical agents for the treatment of chronic wounds. Topical agents are used to kill bacteria, to reduce inflammation, and to promote wound healing.
Wound type
The wound type segment is further sub-segmented into surgical & traumatic wounds, diabetic foot ulcers, pressure ulcers, venous leg ulcers, burns & other wounds.
- Surgical & traumatic wounds: Surgical & traumatic wounds are the largest segment of the market, accounting for a major share of the market in 2022. This is attributed to the high incidence of surgical & traumatic wounds. Surgical & traumatic wounds are caused by surgery, trauma, and other injuries.
- Diabetic foot ulcers: Diabetic foot ulcers are the second-largest segment of the market, and are expected to grow at the highest CAGR during the forecast period. This is attributed to the increasing prevalence of diabetes. Diabetic foot ulcers are caused by poor blood circulation and nerve damage in the feet.
- Pressure ulcers: Pressure ulcers are the third-largest segment of the market, and are expected to grow at a moderate CAGR during the forecast period. This is attributed to the increasing number of people who are at risk of developing pressure ulcers. Pressure ulcers are caused by prolonged pressure on the skin, which can lead to tissue damage.
- Venous leg ulcers: Venous leg ulcers are the fourth-largest segment of the market, and are expected to grow at a slow CAGR during the forecast period. This is attributed to the low prevalence of venous insufficiency. Venous leg ulcers are caused by poor blood circulation in the legs.
- Burns & other wounds: Burns & other wounds are the smallest segment of the market, and are expected to grow at a slow CAGR during the forecast period. This is attributed to the low incidence of burns and other wounds. Burns & other wounds are caused by fire, chemicals, electricity, and other injuries.
End user
The end user segment is further sub-segmented into hospitals, ASCs & wound care centers, home care settings, and other end users.
- Hospitals: Hospitals are the largest segment of the market, accounting for a major share of the market in 2022. This is attributed to the high number of patients who are treated for chronic wounds in hospitals. Hospitals have the infrastructure and the expertise to treat chronic wounds.
- ASCs & wound care centers: ASCs & wound care centers are the second-largest segment of the market, and are expected to grow at the highest CAGR during the forecast period. This is attributed to the increasing number of ASCs & wound care centers. ASCs & wound care centers are specialized facilities that treat chronic wounds.
- Home care settings: Home care settings are the third-largest segment of the market, and are expected to grow at a moderate CAGR during the forecast period. This is attributed to the increasing number of people who are treated for chronic wounds in home care settings. Home care settings are less expensive than hospitals, and they provide patients with the comfort of being at home.
- Other end users: Other end users include clinics, nursing homes, and other facilities. Other end users are a small segment of the market, and are expected to grow at a slow CAGR during the forecast period.
Read Full Report with TOC @ https://www.vantagemarketresearch.com/industry-report/advanced-wound-care-market-1849
Scope of the Report:
Report Attributes | Details |
Market Size in 2021 | USD 9.1 Billion |
Revenue Forecast by 2028 | USD 12.8 Billion |
CAGR | 5.9% from 2023 to 2028 |
Base Year | 2022 |
Forecast Year | 2023 to 2030 |
Key Players | 3M Company (US), Smith & Nephew PLC (UK), ConvaTec Group PLC (UK), Coloplast A/S (Denmark), Molnlycke 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), Misonix, Inc. (US), MiMedx Group Inc. (US), Zimmer Biomet Holdings Inc. (US), Lohmann & Rauscher GmbH & Co. KG (Germany), DeRoyal Industries Inc. (US), Medline Industries Inc. (US), DermaRite Industries LLC (US), Kerecis (Iceland), Advancis Medical (UK), Winner Medical Co. Ltd. (China), Hollister Incorporated (US), Mil Laboratories Pvt. Ltd. (India), Shield Line (US), ZENI Medical (US), Carilex Medical (Germany), Pensar Medical LLC (US), Wuhan VSD Medical Science & Technology Co. Ltd. (China), Haromed B.V. (Belgium) and others. |
Customization Request | If our report does not include the information you are searching for, you may contact us to have a report tailored to your specific business needs https://www.vantagemarketresearch.com/advanced-wound-care-market-1849/request-sample |
Key Questions Answered in the Advanced Wound Care Market Report are:
- What is the size of the Global Advanced Wound Care Market?
- What are the factors driving the growth of the market?
- What are the trends and developments in the market?
- Who are the key players in the market?
- What are the challenges and opportunities in the market?
- What is the outlook for the market?
Browse More Reports from Vantage Library:
- Healthcare Staffing Market Size USD 50.4 Billion by 2028: https://www.vantagemarketresearch.com/industry-report/healthcare-staffing-market-2020
- Healthcare Biometrics Market Size USD 7,606.0 Million by 2028: https://www.vantagemarketresearch.com/industry-report/healthcare-biometrics-market-1844
- Personal Care Ingredients Market Size USD 14.2 Billion by 2028: https://www.vantagemarketresearch.com/industry-report/personal-care-ingredients-market-1837
- Point of Care Diagnostics Market Size USD 73.9 Billion by 2028: https://www.vantagemarketresearch.com/industry-report/point-of-care-diagnostics-market-1821
- Advanced Materials in Electrical Vehicle Charging Infrastructure Market Size USD 2,162.5 Million by 2028: https://www.vantagemarketresearch.com/industry-report/advanced-materials-in-electrical-vehicle-charging-infrastructure-market-1769
- Healthcare Distribution Market Size USD 1088.1 Billion by 2028: https://www.vantagemarketresearch.com/industry-report/healthcare-distribution-market-1704
- Accountable Care Solutions Market Size USD 43.3 Million by 2028: https://www.vantagemarketresearch.com/industry-report/accountable-care-solutions-market-1691
- Healthcare Analytics Market Size USD 89 Billion by 2028: https://www.vantagemarketresearch.com/industry-report/healthcare-analytics-market-1664
- Oral Care Market Size USD 44.5 Billion by 2028: https://www.vantagemarketresearch.com/industry-report/oral-care-market-1650
- Healthcare Asset Management Market Size USD 83.2 Billion by 2028: https://www.vantagemarketresearch.com/industry-report/healthcare-asset-management-market-1637
About Vantage Market Research:
We, at Vantage Market Research, provide quantified B2B high quality research on more than 20,000 emerging markets, in turn, helping our clients map out constellation of opportunities for their businesses. We, as a competitive intelligence market research and consulting firm provide end to end solutions to our client enterprises to meet their crucial business objectives. Our clientele base spans across 70% of Global Fortune 500 companies.
Follow Us on: LinkedIn | Twitter | Facebook | YouTube
Contact us
Eric Kunz
6218 Georgia Avenue NW Ste 1 - 564
Washington DC 20011-5125
United States Tel: +1 202 380 9727
Email: sales@vantagemarketresearch.com
Website:
https://www.vantagemarketresearch.com/
Latest Vantage Market Research Press Releases
Latest Vantage Market Research Blog
Vantage Market Research All Reports
Blog:
![](https://ml.globenewswire.com/media/MGVmMzliNGYtZTRmYS00MjkxLTg2MDMtMWFmNjUzMGZhZjYyLTEyMzU1ODk=/tiny/Vantage-Market-Research.png)