Advanced Wound Care Devices Global Market Report 2024

The advanced wound care devices market size has grown strongly in recent years. It will grow from $11.36 billion in 2023 to $11.93 billion in 2024 at a compound annual growth rate (CAGR) of 5.1%. The growth observed during the historical period in the field of advanced wound care can be attributed to several factors. These include the prevalence of chronic diseases necessitating specialized wound care, a notable increase in surgical procedures, growing awareness regarding the importance of wound care, government initiatives in healthcare promoting advanced treatment options, and a shift in patient preference towards non-invasive treatments.

The advanced wound care devices market size is expected to see strong growth in the next few years. It will grow to $14.77 billion in 2028 at a compound annual growth rate (CAGR) of 5.5%. The anticipated growth in the forecast period for advanced wound care can be attributed to several key factors. These include the increasing incidence of chronic wounds, the expanding use of telemedicine and remote patient monitoring, the trend towards personalized and precision medicine, regulatory support for innovation in healthcare, and the broader adoption of value-based healthcare models. Major trends expected in the forecast period include the integration of smart technologies in wound care, the development of smart wound dressings with monitoring capabilities, the incorporation of telemedicine in the wound care process, the use of bioactive and antimicrobial dressings, and advancements in wound closure techniques. These trends collectively reflect a shift towards more advanced and personalized approaches in the field of wound care.

The increased number of surgical procedures performed is anticipated to drive the growth of the advanced wound care devices market. Surgical procedures involve treating ailments or injuries by accessing the body, and advanced wound care devices aid in the postoperative healing process by optimizing metabolism and oxygen flow for patients. For instance, in 2021, The American Academy of Facial Plastic and Reconstructive Surgery (AAFPRS) reported a substantial surge in surgical and non-surgical procedures, with plastic surgeons conducting 1.4 million procedures, marking a 40% increase compared to the prior year. This upsurge indicates the rising demand for surgical interventions and consequently, the demand for advanced wound care devices to enhance the postoperative healing process.

The increasing prevalence of diabetes is expected to further bolster the growth of the advanced wound care devices market. Diabetes, a chronic condition characterized by high blood sugar levels, contributes to a higher demand for specialized wound care devices due to the challenges posed by diabetic wounds. The International Diabetes Federation (IDF) estimated a global diabetic population of 537 million in 2021, projected to rise to 643 million by 2030 and 783 million by 2045. Moreover, complications from diabetes, such as diabetic wounds, are anticipated to cause approximately 6.7 million deaths globally among individuals aged 20 to 79 in 2021. The rising prevalence of diabetes underscores the need for continuous innovation in advanced wound care devices to address diabetic wound management effectively.

Technological advancements are a pivotal trend in the advanced wound care devices market. Leading companies in this sector are adopting cutting-edge technologies to fortify their market position. For example, Colzyx Ab, a Swedish manufacturer of wound care devices, developed an innovative wound matrix named WOUNDCOM, which consists of effector molecules derived from the host-defense protein human collagen VI. These molecules have evolved to initiate, stimulate, and regulate normal physiological wound-healing processes while displaying potent antimicrobial effects against both normal and drug-resistant bacteria. The application of Colzyx's effector molecules demonstrates enhanced wound healing, antimicrobial properties, and a reduction in pain, thereby showcasing their potential to address critical aspects of wound care.

Developments in the advanced wound care devices market are taking strides with innovative solutions such as hyperspectral imaging devices aimed at driving efficiency. One such advancement is Swift Ray 1, introduced by Swift Medical, a Canadian digital wound care company, in March 2022. This device stands out due to its wireless integration with smartphone cameras, enabling comprehensive data capture essential for patient support in the treatment, assessment, and monitoring of skin and wound conditions. What distinguishes Swift Ray 1 is its ability to capture and process data across all skin tones, ensuring consistent effectiveness in detecting complications and healing progress. The device's imaging capabilities allow for the assessment of crucial wound characteristics, including tissue health, inflammation, perfusion, infection, bacterial presence, and blood oxygen levels. By identifying potential concerns, it facilitates proactive management, enhancing the healing process.

In December 2021, Essity AB, a Swedish global hygiene and health company, acquired Hydrofera LLC for approximately $116 million. This acquisition aligns with Essity's strategic expansion in Medical Solutions through enhanced resources and technology in the advanced wound care domain. Hydrofera LLC, based in the US, specializes in manufacturing advanced wound care devices. This acquisition is anticipated to fortify Essity's portfolio, allowing them to offer a more comprehensive range of innovative wound care products and technologies to meet evolving healthcare needs.

Major companies operating in the advanced wound care devices market report are 3M company, Coloplast Corporation, ConvaTec Group plc, Smith & Nephew plc, Integra LifeSciences Corporation, Organogenesis Holdings Inc., Medtronic plc, MiMedx Group Inc., Derma Sciences Inc., Johnson & Johnson Private Limited, Molnlycke Health Care AB, Cardinal Health Inc., B. Braun Melsungen AG, Baxter International, Adynxx Inc., Acelity L.P. Inc., BSN Medical GmbH, Covidien plc, DeRoyal Industries Inc., Hollister Incorporated, Human Biosciences Inc., Kinetic Concepts Inc., Medline Industries Inc., Triage Meditech Pvt. Ltd., ACell Inc., Acera Surgical Inc., ACI Medical LLC, Advanced Oxygen Therapy Inc., Imbed Biosciences Inc., Inotec Sicherheitstechnik GmbH, Moleculight Inc., NuVision Biotherapies Ltd.

North America was the largest region in the advanced wound care devices market in 2023. Asia-Pacific is expected to be the fastest-growing region in the advanced wound care devices market report during the forecast period. The regions covered in the advanced wound care devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the advanced wound care devices market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary types of advanced wound care devices include moist, antimicrobial, and active variants. Antimicrobial devices incorporate agents designed to eliminate or prevent the growth of microorganisms such as bacteria, spores, or protozoa, specifically targeting bacterial presence in wounds. These devices find applications in treating both chronic and acute wounds and are utilized by various end-users, including hospitals, specialty clinics, home healthcare settings, and others.

The advanced wound care devices market research report is one of a series of new reports that provides advanced wound care devices market statistics, including advanced wound care devices industry global market size, regional shares, competitors with advanced wound care devices market share, detailed advanced wound care devices market segments, market trends, and opportunities, and any further data you may need to thrive in the advanced wound care devices industry. This advanced wound care devices market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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