Latin America Advanced Wound Care Market – Industry Trends and Forecast to 2030

Latin America Advanced Wound Care Market Analysis and Size

The advanced wound care market is projected to increase rapidly during the forecast period. Chronic wounds have become more extensive over the previous decade as the world's senior population, diabetes incidence, and obesity rates have all increased. Obesity and diabetes augmented the rate of wounds and their complications, such as surgical wounds, ulcers, and infections that require treatment. Therefore, this will lead to the introduction of advanced wound care in the market.

Data Bridge Market Research analyses that the advanced wound care market which is USD 754.7 million in 2022, would rocket up to USD 1032.86 million by 2030, and is expected to undergo a CAGR of 4% during the forecast period 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Latin America Advanced Wound Care Market Scope and Segmentation

Market Definition

Advanced wound care includes items for treating acute and chronic wounds such as burns, ulcers, and other post-operative wounds. Advanced wound care treatments including film and foam dressings, alginates, hydrogels, and hydrocolloids keep the wound wet and stimulate healing without impeding it. Patients suffering from chronic wounds can benefit greatly from the advanced wound care industry, that provides them with easily accessible and competitively priced items which can be utilized at their leisure.

Latin America Advanced Wound Care Dynamics

Drivers

• Increasing prevalence of diseases and conditions affecting wound healing capabilities

A rising global geriatric population, increasing traumatic wounds, growing number of surgeries, and the rising incidence of illnesses such as obesity and diabetes have all resulted to an increase in the incidence of acute, chronic, and surgical wounds during the last decade. Diabetes and obesity can intensely raise incidence and complexity of wounds including infections, ulcerations, and chronic wounds, all of which necessitate treatment and result in high medical costs

• Rising Demand of Moist Wound Care Products

This dominance can lead to an increase in the number of wound cases and a rise in the number of surgeries worldwide. For instance, as per the records of Life Span Organization, around 500,000 open-heart surgeries were performed in the U.S. in 2018. Furthermore, as per the AHA Journals, about, 40,000 children undergo congenital heart surgery in the U.S. Advanced wound care products help in healing such wounds in quick duration compared to surgeries, thus, helping the market growth.

Opportunities

• Increased Technological Advancements with Wound Care Products

The huge technological advancements in advanced wound care products are anticipated to have a major impact on the market. For instance, skin regeneration bioactive molecules and nanoparticle-based wound healing over the applied area, helps in maintaining the drug release and precisely improve the therapeutic effects of drugs. Likewise, gene therapy that induces wound healing by inserting normal healthy genes into cells is anticipated to be commercialized. Thus, these advancements boost the market growth.

Restraints/Challenges

• High cost of wound care products

The high cost related with advanced wound care products will hinder the market growth. Furthermore, risks associated with using advanced wound care products and the lack of awareness will pose a major challenge for the advanced wound care market. Though, appearance of unfavourable conditions because of COVID-19 outbreak and increasing competition from other companies will act as restrain and further impede the growth rate of market during the forecast period of 2022-2029.

This Latin America advanced wound care market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the Latin America advanced wound care market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Recent Developments

• In 2019, Mölnlycke Health Care AB announced the acquisition of the M&J Airlaid products. M&J Airlaid is the major manufacturer of absorbent airlaid nonwoven wound care materials. The company supports the Mölnlycke in R&D investments and growth because of the high revenue. Additionally it is further strengthening its wound care capabilities and product portfolio in the market.

Latin America Advanced Wound Care Market Scope

The Latin America advanced wound care market is segmented on the basis of type, wound class, wound type, distribution channel and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

• Advanced
• Foam
• Hydrocolloid
• Film
• Alginate
• Antimicrobial
• Hydrogel
• Collagen
• Hydrofiber
• Wound contact layer
• Superabsorbent
• Traditional
• Bandages
• Conforming Bandages
• Sticking Plasters
• Gauzes
• Sponges
• Abdominal pads
• Fixation tapes

Product Type

• Dressing
• Therapy Device
• BiologicsOthers

Wound Class

• Class I

• Class II
• Class III
• Class IV

Wound Type

• Primary Wound Care
• Secondary Wound Care

End-user

• Hospitals
• Wound Care Centres
• Ambulatory Centres
• Home Healthcare
• Clinics
• Others

 Distribution Channel

• Direct Tenders
• Retail

Latin America Advanced Wound Care Regional Analysis/Insights

The advanced wound care market is analyzed and market size insights and trends are provided by type, wound class, wound type, distribution channel and end-user as referenced above.

The countries covered in the advanced wound care market report are Mexico, Brazil, Colombia, Argentina, Chile, Peru, Panama, Costa Rica, Republica Dominicana, Ecuador, Bolivia, Paraguay, Uruguay, El Salvador, Nicaragua, Venezuela and rest of Latin America.

Brazil is dominating the Latin America advanced wound care market because of the increasing incidence of diabetes which causes diabetic foot ulcers along with this extreme number of several market players such as Convatec Inc., Coloplast Corp, are operating in this region.

Argentina is expected to grow at the highest growth rate in the forecast period of 2023 to 2030 due to the growing elderly population because as the person get older, it takes long time to heal the wound.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Healthcare Infrastructure Growth Installed base and New Technology Penetration

The Latin America advanced wound care market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for advanced wound care market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the advanced wound care market. The data is available for historic period 2011-2021.

Competitive Landscape and Latin America Advanced Wound Care Market Share Analysis

The Latin America advanced wound care market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to Latin America advanced wound care market.

Some of the major players operating in the Latin America advanced wound care market are:

• Smith+Nephew (U.K.)
• ConvaTec Group Plc (U.K.)
•  Coloplast Group (Denmark)
• Mölnlycke Health Care AB (Sweden)
• Integra LifeSciences (U.S.)
• PAUL HARTMANN (Germany)
• B. Braun Melsungen AG (Germany)
• Cardinal Health, Inc. (U.S.)
• Organogenesis Inc. (U.S.)
• Misonix, Inc. (U.S.)
• MIMEDX (U.S.)
• Johnson & Johnson Private Limited (U.S.)

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