Rising Number of Hospital Visits for Wound Treatment Drive the Demand for Advanced Wound Care Market

According to the WHO's 2018 global status report on road safety, road crashes are one of the major causes of death among children and young adults aged 5-29 years. The high incidence rate of injuries has lifted the adoption of advanced wound care. Therefore, the global advanced wound care market is estimated to increase rapidly in the near future.

Data Bridge Market Research analyses that the Advanced Wound Care Market is expected to grow at a CAGR of 6.3% in the forecast period of 2021 to 2028 and is expected to reach USD 15,191.03 million by 2028. The high adoption of moist wound care is projected to propel the growth of the market as they create and maintain a moist environment around the wound, which fosters healing, especially for various chronic injuries such as pressure ulcers, diabetic ulcers, and other slow-healing injuries.

Key Findings of the Study

• The advanced wound care market is anticipated to reach a value of USD 15,191.03 million by 2028, with a CAGR of around 6.3% during the forecast period from 2021 to 2028.
• North America dominated the advanced wound care market in 2021 due to the higher level of investments by U.S. manufacturers and the increasing prevalence of diabetes in the U.S.
• The hospitals segment accounted for the largest share in 2021 at 44.1%. The majority of the products associated with advanced wound care is directly distributed to various places such as hospitals, wound care centers and others expected to boost the advanced wound care market growth.
• The advanced wound care market was adversely affected by COVID-19 outbreak. The lockdown restriction led to the emergence of various challenges such as the denied wound care services, halt of various operations, canceled or postponed elective surgeries, and others.
• Asia Pacific is expected to register lucrative growth over the forecast period of 2021 to 2028 owing to rising level of healthcare expenditure and increasing per-capita income.

Increasing Prevalence of Diseases and Conditions Affecting Wound Healing Capabilities is Expected to Drive the Market's Growth Rate

A growing worldwide geriatric population, rising traumatic wounds, increasing number of surgeries, and the rising incidence of illnesses such as 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 dramatically raise incidence and complexity of wounds, including infections, ulcerations (leg or foot ulcers), and chronic wounds, all of which necessitate treatment (advanced wound management) and result in high medical costs.

Report Scope and Market Segmentation

Segment Analysis:

The advanced wound care market is segmented on the basis of product type, wound type, wound class, end user and distribution channel.

• On the basis of product type, the advanced wound care market is classified into dressing, biologics, therapy devices and others. In 2021, dressing segment is expected to dominate the advanced wound care market with 44.6% market share due to the increasing utilization of dressing products for the problems as surgical wound, ulcers and others.  

In 2021, the Dressing Segment of Product Type Segment Is Anticipated to Dominate the Advanced Wound Care Market

In 2021, the dressing segment of this market will dominate the advanced wound care market owing to the increasing utilization of dressing products for problems as surgical wound, ulcers and more because of the multiple benefits offered during wound treatment involving ease of use, moisture retention feature and high healing power. The dressing segment is expected reach the highest CAGR of 6.6% in the forecast period of 2021-2028.

• On the basis of wound type, the global advanced wound care market is classified into class I, class II, class III and class IV. In 2021, class III segment is expected to dominate the market with 36.9% market share due to the rising class III cases among the people worldwide.
• On the basis of wound type, the global advanced wound care market is classified into primary wound care and secondary wound care. In 2021, the primary wound care segment is expected to dominate the market with 69.6% market share because it is considered the first step in wound treatment and plays an important role in wound management.
• On the basis of end user, the advanced wound care market is classified into hospitals, wound care centers, ambulatory centers, home healthcare, clinics and others. In 2021, hospitals segment is expected to dominate the market with 44.1% market share as higher number of patients prefer to visit hospitals for different cases such as surgical wound, burns, ulcers and others. 3M (U.S.), Smith+Nephew (U.K.), Medline Industries, Inc. (U.S.), Mölnlycke Health Care AB (Sweden), and ConvaTec Group Plc (U.K.),  are engaged in the development of advanced wound care for the hospitals, wound care centers, ambulatory centers, home healthcare, clinics and others.

In 2021, the Hospitals Segment is Projected to Hold the Largest Share of End User Segment in the Advanced Wound Care Market

In 2021, the hospitals segment holds maximum market share as the higher number of patients prefer to visit hospitals for different cases such as surgical wound, burns, ulcers and others. The hospital segment is growing with a CAGR of 4.5% in the forecast period of 2021 to 2028.

• On the basis of distribution channel, the global advanced wound care market is classified into direct tenders and retail. In 2021, the direct tenders segment is expected to dominate the market with 78.8% market share as most of the products related to advanced wound care are directly distributed to various places such as hospitals, wound care centers, and others.

Major Players

Data Bridge Market Research recognizes the following companies as the major advanced wound care market players in advanced wound care market are Baxter (U.S.), Cardinal Health, Inc. (U.S.), Lohmann & Rauscher GmbH & Co. K.G. (Germany), PAUL HARTMANN (Germany), Johnson & Johnson Private Limited (U.S.), Integra LifeSciences (U.S.), Essity Aktiebolag (Sweden), Coloplast Group (Denmark), and MIMEDX (U.S.)

Market Development

• In April 2020, AxioBiosolutions had launched MaxioCel Cutting-Edge Innovation in advance wound care. The next generation Chitosan-based wound dressing shows pain management and scar improvement properties, putting wound healing in overdrive with maximum comfort and faster recovery. It is based on Bioactive Microfiber Gelling technology which will help to accelerate the healing through quicker granulation. It has also received CE Certification from Europe for its next-generation advanced wound-care product range, MaxioCel. The regulatory approval will help Axio tap into the fastest-growing advanced wound-care market across the world. 
• In January 2020, ConvaTech had announced the launch of ConvaMax. ConvaMaxTM superabsorber wound dressing is used to treat oozing wounds such as leg ulcers, pressure ulcers, diabetic foot ulcers, and surgical wounds that have been dehisced.
• In May 2020, Smith+Nephew had announced the launch of PICO 14 single use negative pressure wound therapy system in U.S. The PICO sNPWT dressing features a patented AIRLOCK Technology layer that provides sufficient NPWT throughout a surgical incision and the surrounding injury zone uniformly and reliably.
• In February 2020, Baxter had announced the launch of Peri-Strips Dry with Veritas Collagen Matrix (PSDV) known as PSDV with Secure Grip for surgical procedures. In comparison to the previous version and another staple line strengthening product, this new generation of PSDV is two times faster to prepare. In common bariatric surgeries such as a sleeve gastrectomy or gastric bypass, PSDV has been shown to minimize intraoperative and postoperative staple line bleeding and leaks effectively.
• In February 2020, Baxter had acquired Seprafilm Adhesion Barrier from Sanofi. The Seprafilm product family is used as an adjuvant in certain pelvic and abdominal procedures to reduce adhesions' occurrence, extent, and severity. Seprafilm Adhesion Barrier is a one-time-use sterile adhesive barrier that must not be re-sterilized. Every Seprafilm pouch that has been opened and is no longer in use must be thrown.
• In April 2021, Medline had launched a series of chronic wound care courses designed to improve the clinical knowledge of chronic wounds. This initiative will help in creating in creating awareness regarding wound care amongst the population.

Regional Analysis

Geographically, the countries covered in the advanced wound care market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

As per Data Bridge Market Research analysis:

North America is the Dominant Region in Advanced Wound Care Market During the Forecast Period 2021 -2028

• In 2021, North America dominated the advanced wound care market owing to the higher level of investments by U.S. manufacturers and increasing prevalence of diabetes in U.S.  North America will continue to dominate the advanced wound care market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period. This is due to the growing adoption of advanced technology and launch of new products in this region. Additionally, the increasing number of cases of chronic wounds and the rising geriatric population are expected to further enhance the market's growth rate in this region. 

Asia-Pacific is Estimated to be the Fastest Growing Region in Advanced Wound Care Market the Forecast Period 2021 -2028

Asia-Pacific is expected to grow during the forecast period due to the presence of major market players and rapid development of medical facilities in emerging economies in this region. In addition to this, rising level of healthcare expenditure and increasing per-capita income are expected propel the market's growth rate in this region.

COVID-19 Impact Analysis

The outbreak of COVID-19 largely impacted the healthcare industry. The advanced wound care market was, however adversely affected by it.  The imposition of the lockdown and social distancing restrictions by the government to curb the COVID-19 pandemic outbreak, led to emergence of various challenges such as the denied wound care services, halt of various operations, cancelled or postponed elective surgeries, stifling business growth, suspensions of new developments and even increasing skin injuries in COVID-19 medical care providers, further limiting the industry's expansion. As the admission of COVID-19 patients in hospitals increased, numerous elective procedures were canceled or postponed to reserve hospital beds and patient care staff to COVID-19 patient care. The developing and implementing contingency plans is highly crucial for business operations and key imported raw materials.

• On the brighter side, there has been a decline in COVID-19 patients worldwide, which will result in increased wound care services. Moreover, the restrictions and measures are likely to relax, which will help market to witness a slight increment, as the manufacturers are focusing on various developments and innovations, market trends, and other expansion strategies. Thus, the advanced wound care market will grow at an accelerated pace post COVID-19.

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Frequently Asked Questions (FAQs)

• What is the Current Market Value for Advanced Wound Care Market?

The Market Value for Advanced Wound Care Market in 2020 is USD 9,502.76 Million.

• What is the Growth rate of the Advanced Wound Care Market?

The Advanced Wound Care Market is to grow at a CAGR of 6.3% During the Forecast Period of 2021 to 2028

• Which are the Major Market Drivers for Advanced Wound Care Market?

The Expansion of the Global Advanced Wound Care Market will be fueled by a Surging Prevalence of Diabetes or Obesity and Rising Number of Geriatric Population. Additionally, Increasing Number of Surgical Procedures Globally and Rapidly Rising Number of Hospital Visits for Wound Treatment will Further Cushion the Market’s growth rate During the Forecast Period.

• What are the Major Companies Operating in this Market?

Baxter (U.S.), Cardinal Health, Inc. (U.S.), Lohmann & Rauscher GmbH & Co. K.G. (Germany), PAUL HARTMANN (Germany), Johnson & Johnson Private Limited (U.S.), Integra LifeSciences (U.S.), Essity Aktiebolag (Sweden), Coloplast Group (Denmark), and MIMEDX (U.S.) are the major companies operating in this market.

• Which Countries data is Covered in the Advanced Wound Care Market?

The Countries Covered in the Advanced Wound Care Market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

• What are the Market Segments Covered in the Advanced Wound Care Market?

The advanced wound care market is segmented on the basis of product type, wound type, wound class, end user and distribution channel. On the basis of product type, the advanced wound care market is classified into dressing, biologics, therapy device and others. On the basis of wound class, the advanced wound care market is classified into class I, class II, class III and class IV. On the basis of wound type, the advanced wound care market is classified into primary wound care and secondary wound care. On the basis of end user, the advanced wound care market is classified into hospitals, wound care centres, ambulatory centres, home healthcare, clinics and others. On the basis of distribution channel, the advanced wound care market is classified into direct tenders and retail.

• What are the Main Data Pointers Covered in the Advanced Wound Care Market?

The Market Report Curated by the Data Bridge Market Research team includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.