Global Advanced Wound Care Market, By Product Type (Dressing, Therapy Device, Biologics, Others), Wound Type (Primary Wound Care, Secondary Wound Care), Wound Class (Class I, Class II, Class III, Class IV), End User (Hospitals, Wound Care Centres, Ambulatory Centres, Home Healthcare, Clinics, Others), Distribution Channel (Direct Tenders, Retail) – Industry Trends and Forecast to 2029
Market Analysis and Size
The global advanced wound care market is estimated to increase rapidly over the forecast period. Chronic wounds have become more widespread over the previous decade as the world's senior population, diabetes prevalence, and obesity rates have all increased. Obesity and diabetes increased the rate of wounds and its complications, such as ulcers, surgical wounds, and infections that require treatment. Hence, this will led to the introduction of advanced wound care in the market.
- Data Bridge Market Research analyses that the advanced wound care market was valued at USD 9.4 billion in 2021 and is expected to reach USD 15.91 billion by 2029, registering a CAGR of 6.80% during the forecast period of 2022 to 2029. 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.
Advanced wound care includes products for treating acute and chronic wounds such ulcers, burns, and post-operative wounds. Advanced wound care treatments including film and foam dressings, hydrogels, alginates, and hydrocolloids keep the wound wet and promote healing without impeding it. Patients with chronic wounds can benefit from the advanced wound care industry, which provides them with easily accessible and competitively priced items that can be utilized at their leisure.
2022 to 2029
2020 (Customizable to 2019 - 2014)
Revenue in USD Billion, Volumes in Units, Pricing in USD
Product Type (Dressing, Therapy Device, Biologics, Others), Wound Type (Primary Wound Care, Secondary Wound Care), Wound Class (Class I, Class II, Class III, Class IV), End User (Hospitals, Wound Care Centres, Ambulatory Centres, Home Healthcare, Clinics, Others), Distribution Channel (Direct Tenders, Retail)
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.
Market Players Covered
3M (US), Smith+Nephew (UK), ConvaTec Group Plc (UK), Coloplast Group (Denmark), Mölnlycke Health Care AB (Sweden), Integra LifeSciences (US), PAUL HARTMANN (Germany), B. Braun Melsungen AG (Germany), Cardinal Health, Inc. (US), Organogenesis Inc. (US), Misonix, Inc. (US), MIMEDX (US), Zimmer Biomet (US), Lohmann & Rauscher GmbH & Co. KG (Germany), DeRoyal Industries, Inc. (US), Medline Industries, Inc. (US), Johnson & Johnson Private Limited (US), Baxter (US), Medtronic (Ireland), Hollister Incorporated (US)
Advanced Wound Care Market Dynamics
Increasing the prevalence of diseases and conditions affecting wound healing capabilities will 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.
Rising number of hospital visits for wound treatment
The rapidly rising number of hospital visits for wound treatment will further accelerate the demand for advanced wound care market. The hospital segment's growth will be accelerated by rising healthcare spending to provide better patient care and a huge number of therapeutic operations performed in hospitals. Furthermore, the increased prevalence of hospital-acquired pressure ulcers is driving up demand for enhanced wound care, boosting the industry's value.
Additionally, the rising number of government initiatives for spreading awareness among people will be a major driver influencing the advanced wound care market’s growth rate. Another significant factor resulting in the expansion of market is the advancement of technology. Furthermore, surging healthcare spending capacity and advancement in healthcare infrastructure are the major drivers that will enhance the growth of market. Increasing number of surgical procedures globally will further influence the growth rate of advanced wound care market.
Growth in R&D activities
The rise in the number of research and development activities and favourable government policies regarding healthcare infrastructure will provide beneficial opportunities for the advanced wound care market growth.
Moreover, increasing government investments for the development of technology and rising number of applications will further expand the advanced wound care market's growth rate in the future.
On the other hand, high cost associated with advanced wound care products will obstruct the market growth. Also, risks linked with the use of advanced wound care products and the dearth of awareness will pose a major challenge for advanced wound care market. However, emergence of unfavourable conditions due to COVID-19 outbreak and growing competition from other companies will act as restrain and further impede the growth rate of market during the forecast period of 2022-2029.
This 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 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.
COVID-19 Impact on Advanced Wound Care Market
Since its emergence in December 2019, the COVID-19 virus has spread to nearly every country on the planet, prompting the World Health Organization (WHO) to declare it a public health emergency. Since a large number of countries implemented lockdown to prevent community transmission of the COVID-19 virus, the impact of COVID-19 on the industry has been observed to be unfavourable. Due to supply chain interruptions and a drop in non-urgent in-person clinic visits, the market experienced a short-term disruption during the early days of the COVID-19 pandemic, which had a negative impact. Several manufacturers have been compelled to cease their production and manufacturing operations due to the rapid spread of the coronavirus. In hospitals and other healthcare settings, the possibility of patients developing COVID-19 infection slowed market expansion.
- 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.
Global Advanced Wound Care Market Scope
The Advanced wound care market is segmented on the basis of product type, wound type, wound class, end user and distribution channel. 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.
- Therapy Device
On the basis of product type, the advanced wound care market is classified into dressing, biologics, therapy device and others. In 2021, the dressing segment holds the maximum market share in advanced wound care market and is growing with the highest CAGR due to the increasing utilization of dressing products for the problems as surgical wound, ulcers and more because of the multiple benefits offered during wound treatment such as ease of use, moisture retention feature and high healing power.
- Class I
- Class II
- Class III
- Class IV
On the basis of wound class, the advanced wound care market is classified into class I, class II, class III and class IV. In 2021, class III segment is dominating the advanced wound care market as well as growing with the highest CAGR due to rising cases of the class III amongst the people worldwide.
- Primary Wound Care
- Secondary Wound Care
On the basis of wound type, the advanced wound care market is classified into primary wound care and secondary wound care. In 2021, primary wound care segment is dominating the advanced wound care market because it is considered to be the first step in wound treatment as well as plays an important role in wound management.
- Wound Care Centres
- Ambulatory Centres
- Home Healthcare
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. In 2021, the hospitals segment holds maximum market share as higher number of patients prefer to visit hospitals for different cases such as surgical wound, burns, ulcers and others.
- Direct Tenders
On the basis of distribution channel, the advanced wound care market is classified into direct tenders and retail. In 2021, the direct tenders segment is dominating the advanced wound care market and is growing with the highest CAGR as majority of the products related to advanced wound care is directly distributed to various places such as hospitals, wound care centre and others.
Advanced Wound Care Market Regional Analysis/Insights
The Advanced wound care market is analysed and market size insights and trends are provided by country, product type, wound type, wound class, end user and distribution channel as referenced above.
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.
North America dominates the advanced wound care market because of the growing adoption of advanced technology and launch of new products in this region. Additionally, increasing number of cases of chronic wounds and rising geriatric population will further enhance the market's growth rate in this region.
Asia-Pacific is expected to grow during the forecast period due to presence of major market players in this region. Also, rising level of healthcare expenditure will propel the market's growth rate in this region.
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 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 2010-2020.
Competitive Landscape and Advanced Wound Care Market Share Analysis
The 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 advanced wound care market.
Some of the major players operating in the advanced wound care market are 3M (US), Smith+Nephew (UK), ConvaTec Group Plc (UK), Coloplast Group (Denmark), Mölnlycke Health Care AB (Sweden), Integra LifeSciences (US), PAUL HARTMANN (Germany), B. Braun Melsungen AG (Germany), Cardinal Health, Inc. (US), Organogenesis Inc. (US), Misonix, Inc. (US), MIMEDX (US), Zimmer Biomet (US), Lohmann & Rauscher GmbH & Co. KG (Germany), DeRoyal Industries, Inc. (US), Medline Industries, Inc. (US), Johnson & Johnson Private Limited (US), Baxter (US), Medtronic (Ireland), and Hollister Incorporated (US), among others.