Advanced Wound Care Market
Advanced Wound Care Market Forecasts to 2030 - Global Analysis By Product (Devices & Accessories, Dressings, Active Wound Care, Antimicrobial, Grafts & Matrices, Topical Agents and Other Products), Type of Wound, End User and By Geography
|
Years Covered |
2021-2030 |
|
Estimated Year Value (2023) |
US $12.4 BN |
|
Projected Year Value (2030) |
US $26.5 BN |
|
CAGR (2023 - 2030) |
11.4% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
North America |
|
Highest Growing Market |
Asia Pacific |
According to Stratistics MRC, the Global Advanced Wound Care Market is accounted for $12.4 billion in 2023 and is expected to reach $26.5 billion by 2030 growing at a CAGR of 11.4% during the forecast period. The market for advanced wound care includes a broad spectrum of goods, services, and innovations intended to manage difficult wounds and encourage healing. A number of factors, including an aging population, the rise in chronic wounds technological advancements, and an increasing emphasis on better wound care outcomes, have contributed to this market's notable growth in recent years. The increased prevalence of pressure ulcers and chronic wounds is a result of the demographic shift towards an older population. Driven by innovation, developments in medical technology, and an increasing demand for efficient ways to manage complicated wounds with the ultimate goal of improving patient outcomes and quality of life, the advanced wound care market is still growing.
According to the study published in the International Wound Journal in February 2021, in Germany, the COVID-19 pandemic hindered access to clinical care for chronic wounds.
Market Dynamics:
Driver:
Increasing prevalence of chronic wounds
The need for advanced wound care products is directly driven by the rising prevalence of chronic wounds, including diabetic ulcers, venous leg ulcers, pressure ulcers, and other complex wounds. To effectively manage these complex wounds, this includes negative pressure wound therapy (NPWT) devices, bioengineered skin substitutes, specialized dressings, and other cutting-edge treatment modalities. In order to meet the needs of patients with chronic wounds, regulatory bodies might concentrate more of their efforts on assessing and approving cutting-edge wound care products and technologies.
Restraint:
High cost of advanced wound care products
Patients with limited healthcare resources or those from lower-income backgrounds may find it difficult to obtain advanced wound care products due to high costs. Individuals may find it difficult to pay for these pricey procedures, which could result in unequal access to cutting-edge wound care techniques. Because advanced wound care treatments can be expensive, some patients may choose not to receive them, which could result in non-adherence or stopping prescribed therapies. This may hinder the efficacy of care and have a detrimental effect on patient results.
Opportunity:
Technological advancements and innovations
Cutting-edge dressings with distinctive materials and structures are among the sophisticated wound care products made possible by technological advancements. These dressings provide moisture balance, aid in autolytic debridement, and guard against infections to create the ideal environment for wound healing. Furthermore, high-resolution cameras, three-dimensional imaging, and thermal imaging are examples of advanced imaging technologies that support precise wound assessment by giving medical professionals comprehensive information about the features of the wound, tissue perfusion, and healing progress.
Threat:
Limited access in underserved areas
In underprivileged areas, a lack of access to sophisticated wound care exacerbates healthcare disparities. Individuals residing in isolated or rural regions frequently encounter obstacles when trying to reach advanced treatment options or wound care centers, which can result in unequal access to cutting-edge treatments. It's possible that patients and healthcare professionals in underprivileged areas are not as familiar with or have limited access to advanced wound care products and treatments. One may undervalue the significance of advanced wound care in the management of complex wounds as a result of this ignorance and lack of awareness.
Covid-19 Impact
Healthcare resources were diverted during the early stages of the pandemic in order to handle the spike in COVID-19 cases. The postponement or delay of non-essential medical procedures, such as certain elective surgeries and wound care treatments, has had an impact on the demand for advanced wound care products overall. Additionally, telemedicine and remote monitoring became popular due to restrictions on in-person medical visits and to reduce the risk of exposure. In order to minimize in-person visits, some advanced wound care providers have adopted telehealth solutions to evaluate and assist patients in managing their wounds from a distance.
The devices & accessories segment is expected to be the largest during the forecast period
The devices & accessories segment is estimated to have a lucrative growth, due to the advanced wound care devices and accessories include a broad range of cutting-edge instruments intended to efficiently manage and treat complicated wounds. By increasing blood flow, decreasing edema, and eliminating extra fluid, negative pressure is used by NPWT devices to hasten the healing process of wounds. They usually include a wound dressing, tubing, and a pump to seal the wound with a vacuum. New tools, methods, and accessories targeted at enhancing outcomes in the field of advanced wound care are being developed as a result of the ongoing advancements in technology and medical research.
The puncture wound segment is expected to have the highest CAGR during the forecast period
The puncture wound segment is anticipated to witness the highest CAGR growth during the forecast period, because effective management of puncture wounds is essential to advanced wound care in order to minimize complications, encourage healing, and prevent infection. Because of their depth and potential for contamination, puncture wounds have a high risk of infection. Depending on the extent of the wound, the object that caused the injury, and the risk of infection, think about using prophylactic antibiotics. Thus all the above intensive advanced wound care boost the growth of the market.
Region with largest share:
North America is projected to hold the largest market share during the forecast period owing to the increased frequency of chronic wounds, including diabetic foot ulcers, the availability of sophisticated healthcare facilities, including diabetic clinics and specialized wound care centers, and the growing emphasis on the early detection and comprehensive management of diabetic foot ulcers are all considered contributing factors to this growth. Furthermore, the North American healthcare system has made large investments to upgrade its facilities and infrastructure, which has improved patient access to diabetes treatments and services thus driving the growth of the market in this region.
Region with highest CAGR:
Asia-Pacific is projected to have the highest CAGR over the forecast period, owing to the existence of significant players in the area is responsible for the market expansion in this area. The Asia-Pacific area has worked hard to upgrade its wound care and specialized foot care facilities, among other aspects of its healthcare infrastructure. Moreover, due to the region's well-established domestic business presence, increased funding for wound care research, and advancements in industrial infrastructure, Asia-Pacific is expected to grow at the fastest rate during the forecast period. These factors also present lucrative opportunities for major players in the market in this region.
Key players in the market
Some of the key players profiled in the Advanced Wound Care Market include 3M Company, Bioventus LLC, Braun SE, Cardinal Health Inc., Coloplast, ConvaTec Group plc, Dermarite Industries LLC, Hollister Incorporated, Integra LifeSciences Holdings Corporation, Kerecis, Lohmann & Rauscher GMBH & Co, Medline Industries, Medtronic, MIMEDX Group, Inc, Molnlycke Health Care AB, Organogenesis Holdings Inc, Paul Hartmann AG, Smith & Nephew plc, URGO Medical and Zimmer Biomet Holding Inc
Key Developments:
In October 2023, Smith+Nephew launched revolutionary REGENETEN◊ Bioinductive Implant in Japan, providing an advanced healing option for patients with rotator cuff tears. The biocompatible and purified collagen-based REGENETEN Bioinductive Implant induces new tendon-like growth.
In August 2023, Smith+Nephew launched OR3O™ Dual Mobility System in India for use in primary and revision hip arthroplasty. These implants have a small diameter femoral head that locks into a larger polyethylene insert increasing stability.
In August 2023, Convatec partners with Tandem Diabetes Care on new infusion set for innovative new Tandem Mobi system. Convatec is proud to be the supplier of infusion sets to Tandem Diabetes Care.
Products Covered:
• Devices & Accessories
• Dressings
• Active Wound Care
• Antimicrobial
• Grafts & Matrices
• Topical Agents
• Other Products
Type of Wounds Covered:
• Chronic Ulcers
• Soiled Abrasions
• Clean Abrasions
• Infected Wounds
• Puncture Wound
• Laceration Sutured
• Second-Degree Burn
• Sloughing Wound
• Other Type of Wounds
End Users Covered:
• Specialty Clinics
• Home Healthcare
• Hospitals
• Other End User
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Product Analysis
3.7 End User Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Advanced Wound Care Market, By Product
5.1 Introduction
5.2 Devices & Accessories
5.2.1 Negative Pressure Wound Therapy (NPWT) Devices & Accessories
5.2.2 Wound Assessment & Monitoring Devices
5.2.3 Debridement Devices & Accessories
5.2.4 Hyperbaric Oxygen Equipment
5.2.5 Compression Therapy
5.2.6 Pressure Relief Devices
5.3 Dressings
5.3.1 Traditional Wound Dressings
5.3.1.1 Bandages
5.3.1.2 Body Netting
5.3.1.3 Composite Dressings
5.3.1.4 Cohesive Wraps
5.3.1.5 Impregnated Gauze
5.3.1.6 Non-Adherent Dressings
5.3.2 Advanced Wound Dressing
5.3.2.1 Hydrogel Dressings
5.3.2.2 Hydrofiber Dressings
5.3.2.3 Honey Dressings
5.3.2.4 Foam Dressings
5.3.2.5 Collagen Dressings
5.3.2.6 Composite Dressings
5.3.2.7 Calcium Alginate Dressings
5.3.2.8 Hydrocolloids
5.3.2.9 Other Advanced Wound Dressings
5.4 Active Wound Care
5.4.1 Growth Factors
5.4.2 Skin Substitutes
5.4.3 Biomaterials
5.5 Antimicrobial
5.5.1 Non-Silver
5.5.2 Silver
5.6 Grafts & Matrices
5.7 Topical Agents
5.8 Other Products
6 Global Advanced Wound Care Market, By Type of Wound
6.1 Introduction
6.2 Chronic Ulcers
6.3 Soiled Abrasions
6.4 Clean Abrasions
6.5 Infected Wounds
6.6 Puncture Wound
6.7 Laceration Sutured
6.8 Second-Degree Burn
6.9 Sloughing Wound
6.10 Other Type of Wounds
7 Global Advanced Wound Care Market, By End User
7.1 Introduction
7.2 Specialty Clinics
7.3 Home Healthcare
7.4 Hospitals
7.5 Other End User
8 Global Advanced Wound Care Market, By Geography
8.1 Introduction
8.2 North America
8.2.1 US
8.2.2 Canada
8.2.3 Mexico
8.3 Europe
8.3.1 Germany
8.3.2 UK
8.3.3 Italy
8.3.4 France
8.3.5 Spain
8.3.6 Rest of Europe
8.4 Asia Pacific
8.4.1 Japan
8.4.2 China
8.4.3 India
8.4.4 Australia
8.4.5 New Zealand
8.4.6 South Korea
8.4.7 Rest of Asia Pacific
8.5 South America
8.5.1 Argentina
8.5.2 Brazil
8.5.3 Chile
8.5.4 Rest of South America
8.6 Middle East & Africa
8.6.1 Saudi Arabia
8.6.2 UAE
8.6.3 Qatar
8.6.4 South Africa
8.6.5 Rest of Middle East & Africa
9 Key Developments
9.1 Agreements, Partnerships, Collaborations and Joint Ventures
9.2 Acquisitions & Mergers
9.3 New Product Launch
9.4 Expansions
9.5 Other Key Strategies
10 Company Profiling
10.1 3M Company
10.2 Bioventus LLC
10.3 Braun SE
10.4 Cardinal Health Inc.
10.5 Coloplast
10.6 ConvaTec Group plc
10.7 Dermarite Industries LLC
10.8 Hollister Incorporated
10.9 Integra LifeSciences Holdings Corporation
10.10 Kerecis
10.11 Lohmann & Rauscher GMBH & Co
10.12 Medline Industries
10.13 Medtronic
10.14 MIMEDX Group, Inc
10.15 Molnlycke Health Care AB
10.16 Organogenesis Holdings Inc
10.17 Paul Hartmann AG
10.18 Smith & Nephew plc
10.19 URGO Medical
10.20 Zimmer Biomet Holding Inc
List of Tables
1 Global Advanced Wound Care Market Outlook, By Region (2021-2030) ($MN)
2 Global Advanced Wound Care Market Outlook, By Product (2021-2030) ($MN)
3 Global Advanced Wound Care Market Outlook, By Devices & Accessories (2021-2030) ($MN)
4 Global Advanced Wound Care Market Outlook, By Negative Pressure Wound Therapy (NPWT) Devices & Accessories (2021-2030) ($MN)
5 Global Advanced Wound Care Market Outlook, By Wound Assessment & Monitoring Devices (2021-2030) ($MN)
6 Global Advanced Wound Care Market Outlook, By Debridement Devices & Accessories (2021-2030) ($MN)
7 Global Advanced Wound Care Market Outlook, By Hyperbaric Oxygen Equipment (2021-2030) ($MN)
8 Global Advanced Wound Care Market Outlook, By Compression Therapy (2021-2030) ($MN)
9 Global Advanced Wound Care Market Outlook, By Pressure Relief Devices (2021-2030) ($MN)
10 Global Advanced Wound Care Market Outlook, By Dressings (2021-2030) ($MN)
11 Global Advanced Wound Care Market Outlook, By Traditional Wound Dressings (2021-2030) ($MN)
12 Global Advanced Wound Care Market Outlook, By Bandages (2021-2030) ($MN)
13 Global Advanced Wound Care Market Outlook, By Body Netting (2021-2030) ($MN)
14 Global Advanced Wound Care Market Outlook, By Composite Dressings (2021-2030) ($MN)
15 Global Advanced Wound Care Market Outlook, By Cohesive Wraps (2021-2030) ($MN)
16 Global Advanced Wound Care Market Outlook, By Impregnated Gauze (2021-2030) ($MN)
17 Global Advanced Wound Care Market Outlook, By Non-Adherent Dressings (2021-2030) ($MN)
18 Global Advanced Wound Care Market Outlook, By Advanced Wound Dressing (2021-2030) ($MN)
19 Global Advanced Wound Care Market Outlook, By Hydrogel Dressings (2021-2030) ($MN)
20 Global Advanced Wound Care Market Outlook, By Hydrofiber Dressings (2021-2030) ($MN)
21 Global Advanced Wound Care Market Outlook, By Honey Dressings (2021-2030) ($MN)
22 Global Advanced Wound Care Market Outlook, By Foam Dressings (2021-2030) ($MN)
23 Global Advanced Wound Care Market Outlook, By Collagen Dressings (2021-2030) ($MN)
24 Global Advanced Wound Care Market Outlook, By Composite Dressings (2021-2030) ($MN)
25 Global Advanced Wound Care Market Outlook, By Calcium Alginate Dressings (2021-2030) ($MN)
26 Global Advanced Wound Care Market Outlook, By Hydrocolloids (2021-2030) ($MN)
27 Global Advanced Wound Care Market Outlook, By Other Advanced Wound Dressings (2021-2030) ($MN)
28 Global Advanced Wound Care Market Outlook, By Active Wound Care (2021-2030) ($MN)
29 Global Advanced Wound Care Market Outlook, By Growth Factors (2021-2030) ($MN)
30 Global Advanced Wound Care Market Outlook, By Skin Substitutes (2021-2030) ($MN)
31 Global Advanced Wound Care Market Outlook, By Biomaterials (2021-2030) ($MN)
32 Global Advanced Wound Care Market Outlook, By Antimicrobial (2021-2030) ($MN)
33 Global Advanced Wound Care Market Outlook, By Non-Silver (2021-2030) ($MN)
34 Global Advanced Wound Care Market Outlook, By Silver (2021-2030) ($MN)
35 Global Advanced Wound Care Market Outlook, By Grafts & Matrices (2021-2030) ($MN)
36 Global Advanced Wound Care Market Outlook, By Topical Agents (2021-2030) ($MN)
37 Global Advanced Wound Care Market Outlook, By Other Products (2021-2030) ($MN)
38 Global Advanced Wound Care Market Outlook, By Type of Wound (2021-2030) ($MN)
39 Global Advanced Wound Care Market Outlook, By Chronic Ulcers (2021-2030) ($MN)
40 Global Advanced Wound Care Market Outlook, By Soiled Abrasions (2021-2030) ($MN)
41 Global Advanced Wound Care Market Outlook, By Clean Abrasions (2021-2030) ($MN)
42 Global Advanced Wound Care Market Outlook, By Infected Wounds (2021-2030) ($MN)
43 Global Advanced Wound Care Market Outlook, By Puncture Wound (2021-2030) ($MN)
44 Global Advanced Wound Care Market Outlook, By Laceration Sutured (2021-2030) ($MN)
45 Global Advanced Wound Care Market Outlook, By Second-Degree Burn (2021-2030) ($MN)
46 Global Advanced Wound Care Market Outlook, By Sloughing Wound (2021-2030) ($MN)
47 Global Advanced Wound Care Market Outlook, By Other Type of Wounds (2021-2030) ($MN)
48 Global Advanced Wound Care Market Outlook, By End User (2021-2030) ($MN)
49 Global Advanced Wound Care Market Outlook, By Specialty Clinics (2021-2030) ($MN)
50 Global Advanced Wound Care Market Outlook, By Home Healthcare (2021-2030) ($MN)
51 Global Advanced Wound Care Market Outlook, By Hospitals (2021-2030) ($MN)
52 Global Advanced Wound Care Market Outlook, By Other End User (2021-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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