Advanced Wound Care Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028

The Global Advanced Wound Care Market is projected to witness impressive growth during the forecast period. The factors contributing to the growth of the market are the rising frequency of chronic diseases around the world while driving the demand for sophisticated wound care solutions. Additionally, as the older population has sluggish healing capacities, the growing geriatric population is anticipated to drive market expansion. For instance, the WHO estimates that the percentage of adults 60 or older was 9.8% in 2017 and will rise to 13.7% and 20.3%, respectively, in 2030 and 2050. Similarly, the U.S. general population's fastest-growing demographic is currently seniors (aged 65 and over). One in four Americans are predicted to be older adults by 2060, according to the National Population Projections by the U.S. Census Bureau, which is anticipated to drive market growth.

Furthermore, the market for advanced wound care is anticipated to be significantly impacted by technological developments in advanced wound care products. It is anticipated that some of the most cutting-edge technological goods in this area will soon enter the market. For instance, bioactive molecules across the treated area, which maintain the drug release and specifically enhance the therapeutic effects of pharmaceuticals, are used in nanoparticle-based wound healing and skin regeneration. Similarly, it is anticipated that gene therapy, which promotes wound healing by infusing healthy normal genes into cells, will start selling. The market for advanced wound care is thus anticipated to grow throughout the projected period because of such developments in advanced wound care products.

Increasing Prevalence of Diabetes globally

Diabetes patients frequently develop diabetic foot ulcers, which can be treated using advanced wound care solutions. For instance, according to ScienceDirect, 20% of individuals who have diabetic foot ulcers may require amputation of the foot. Diabetic foot ulcers may impact more than 25% of the diabetic population. As a result, it is predicted that more diabetic people will adopt sophisticated wound care solutions. These goods aid in the retention of moisture and enable both internal and exterior wounds to heal quickly. Further, as per WHO, a total of 422 million people worldwide have diabetes, the majority of whom reside in low- and middle-income nations. Wherein diabetes is responsible for 1.5 million fatalities annually. Over the past few decades, there has been a consistent rise in both the incidence and prevalence of diabetes, which in turn is expected to drive the growth of the market.

The rise in Chronic Diseases Prevalence

The rise in chronic disease prevalence is responsible for the growth of Global Advanced Wound Care Market, as chronic disease prevalence involves surgeries. Hence, rising surgeries are fueling the demand for advanced wound care management. The leading cause of death for adults in all nations is chronic diseases/non-communicable diseases, and in the coming ten years, this number is expected to rise by another 17%. A third of all people worldwide struggle with numerous chronic conditions. In the US, four out of ten people have two or more chronic diseases, making up six out of ten adults. The number of Americans with chronic diseases will rise by 46 million, or 37 percent, between 2000 and 2030. This factor is expected to boost the growth of the market.

Market Segmentation

The Global Advanced Wound Care Market is segmented based on Product, wound type, and end-user. The product segment is classified into dressings, grafts & matrices, topical agents, and others. Based on wound type, the market is divided into chronic wound and acute wound. Lastly, based on end-user, the market is categorized into hospitals & clinics, ambulatory care centers, and homecare.

Recent Developments

• The launch of ConvaMax, a superabsorber dressing for highly exuding wounds such as pressure ulcers, leg ulcers, and diabetic foot ulcers, was introduced in an announcement by ConvaTec in January 2020.
• Integra LifeSciences announced a successful clinical outcome for Integra Bilayer Wound Matrix in May 2020. (IBWM). The company's portfolio of regenerative technologies includes this product, which makes use of collagen and amniotic fluid.

Market Players

Abbott Nutrition, Boston Scientific Corporation, Amsino International Inc., ConMed Corporation, Cardinal Health Inc., C.R.Bard, Danone, Cook Medical, B. Braun Melsungen AG, Fresenius SE & Co. KGaA.

Report Scope

In this report, the global Advanced Wound Care Market has been segmented into the following categories, in addition to the industry trends, which have also been detailed below:

Advanced Wound Care Market, By Product:

• Dressings
• Grafts & Matrices
• Topical Agents
• Others

Advanced Wound Care Market, By Wound Type:

• Chronic Wounds
• Acute Wounds

Advanced Wound Care Market, By End-Use:

• Hospitals & Clinics
• Ambulatory Care Centers
• Homecare

Advanced Wound Care Market, By Region:

• North America
• Europe
• Asia-Pacific
• South America
• Middle East & Africa

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Advanced Wound Care Market.

Available Customizations

With the given market data, the analyst offers customizations according to a company's specific needs. The following customization options are available for the report.

Company Information

Detailed analysis and profiling of additional market players (up to five).


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