Rockville , Aug. 24, 2023 (GLOBE NEWSWIRE) -- As per Fact.MR, a provider of market research and competitive intelligence, The global advanced wound care market is currently valued at around US$ 11.08 million and is anticipated to expand at a high CAGR of 3.7% to reach US$ 15.93 billion by 2032-end.
The high growth rate in the advanced wound care market in next few years is due to the increasing incidence of chronic diseases, growing demand for better healthcare facilities and rise in patient population across the globe.
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In addition, the growing need for faster healing and a rise in expectation for quality of life are expected to drive the market for advanced wound care. However, the high cost of advanced therapies and the economic downturn are some of the major factors restraining the growth of the global advanced wound care market.
The increasing number of collaborations and partnerships, rise in the number of mergers and acquisitions, and new product launches are some of the latest trends that have been observed in the global advanced wound care market.
Report Attributes | Details |
| Forecast Period | 2022 - 2032 |
| Value Projection (2032) | US$ 15.93 billion |
| Growth Rate (2022-2032) | 3.7 % CAGR |
| No. of Pages | 170 pages |
| No. of Tables | 24 Tables |
| No. of Figures | 91 Figures |
Key Takeaways from Market Study
- The global advanced wound care market is projected to expand at 3.7% CAGR.
- North America and Europe jointly dominate the global advanced wound care market, capturing more than 70% of the market.
- The United States is the most attractive region for the expansion of the Advanced wound care market.
- Based on the end User, the hospital pharmacies are proven as one of the most effective.
- By Product type, Wound Cleanser to provide opportunity for the market growth
“Rising adoption of an improved method for acute and chronic wound management, technological advancement and increasing aging population and an established healthcare infrastructure is set to boost market prospects,” says a Fact.MR analyst.
Key Companies Profiled in This Report
- B. Braun Melsungen AG
- Mölnlycke Health Care
- Coloplast A/S
- Johnson and Johnson
- Medline Industries Inc.
- 3M
Market Competition
The global advanced wound care market is highly competitive owing to the top global players trying to gain market share through various strategies such as mergers & acquisitions, expansions, collaborations, and partnerships. Key players in the global addiction treatment market are engaged in regulatory approvals, and launch of new products.
- Medline recently celebrated the opening of two LEED-certified distribution centers, an 800,000-square-foot facility in St. Peters, Missouri, and a 1.3 million-square-foot distribution center in Montgomery, New York.
- In March 2022- Convatec Group Plc announced that it has completed the acquisition of Triad Life Sciences Inc (‘Triad’). The Triad team, current portfolio and product pipeline will now transition to Convatec’s Advanced Wound Care (AWC) business and be known as Convatec Advanced Tissue Technologies.
- Mölnlycke a world-leading medical solutions company announce a partnership with Tissue Analytics, a developer of sophisticated digital wound imaging platforms the partnership brings together Mölnlycke’s outstanding expertise in wound care and Tissues Analytics’ advanced digital capabilities.
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More Valuable Insights Available
Fact.MR, in its new offering, presents an unbiased analysis of the advanced wound care market, presenting historical demand data (2017-2021) and forecast statistics for the period of 2022-2032.
The study divulges essential insights on the market by Product Type (Antimicrobial Gels, Antimicrobial Powder, Concentrated Surfactant, Hydrogels Dressings, Skin Protectants, Wound Cleansers, Semi-Permeable Films Dressing, Alginate Dressing, Foam Dressing, Honey Dressings, Hydrocolloid Dressing, Collagen Dressing, Contact Layer, Super Absorbent Dressings, Compression System, Unna Boots, Tapes) by end-user (Hospitals, Ambulatory Surgical Centers, Specialty Clinics) by Region.
Explore More Related Studies Published by Fact.MR Research:
Wound Care Biologics Market: The global wound care biologics market is currently valued at US$ 2.09 billion. Worldwide demand for wound care biologics is predicted to rise at a high-value CAGR of 11% and reach US$ 5.93 billion by the end of 2032.
Wound Healing Films Market: The global wound healing films market has reached a valuation of US$ 674 million and is forecast to climb to US$ 1.08 billion by the end of 2032, expanding at a steady CAGR of 4.8% over the decade.
Next Generation Wound Closure Device Market: Next generation wound closure market is expected to cross USD 32.27 Billion by end of 2032.
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