The advanced wound care and closure market was valued for $19.5 million in 2022 and is estimated to reach $32.9 million by 2032, exhibiting a CAGR of 5.4% from 2023 to 2032. The wound healing process is facilitated in two different ways, including traditional wound care (TWC) and advanced wound care (AWC). Advanced wound care and closures provide specialized treatment for chronic wounds that have not significantly healed during the conventional treatment. Thus, advanced wound care is developing as a standard solution for treating chronic wounds. These products offer various advantages over traditional wound care products including protection of wound from exogenous infection, maintain hydrated environment, and rapid healing of the wound. The advanced wound care products include advanced antimicrobial dressings, skin substitutes, negative pressure wound therapy, surgical sealant, topical tissue adhesives, and others.
The advanced wound care and closures market growth is significantly driven by increase in incidences of chronic wounds, surge in awareness about wound care, and rise in geriatric population. Chronic wounds such as traumatic wounds, venous ulcers, pressure ulcers, and others caused due to various medical conditions such as diabetes, and surgeries require long time for healing. To increase the healing process of chronic wounds, the advanced wound care and closure products are majorly used over the traditional wound care products. For instance, according to Australian Medical Association (AMA), 2023 report, about 450,000 Australians currently live with a chronic wound. In Addition, according to Healogics, LLC 2021, nearly 7 million Americans are living with chronic wound. Thus, rise in incidence of chronic wound drives the adoption of advanced wound care and closures.
Furthermore, surge in awareness about chronic wounds and their associated complications among the general population has increased the demand for advanced wound care solutions. Awareness campaigns, educational seminars, and training programs emphasize the benefits of using advanced wound care products over traditional methods. For instance, Wound Care Awareness Week organized by the Healogics, LLC., focuses on the growing need for wound care. In addition, Kisaco Research has organized the Advanced Wound Care Summit Europe in November 2023. This event is dedicated to advancing cutting-edge wound care products and will emphasize on the needs of industry.
Moreover, growing prevalence of chronic wounds with an ageing population and increasing rates of diseases such as diabetes and heart disease further propel the demand for advanced wound care and closures, which, in turn, drives the market growth.
However, advanced wound care products are more expensive than traditional wound care products. Thus, the high cost of advanced wound care products limits their adoption in the market. Furthermore, stringent regulations for manufacturing of advanced wound care dressing and devices act as a restraint to the market. However, development and launch of advanced products for wound management and surge in technological advancements are expected to create lucrative opportunities for the market growth during the forecast period.
The advance wound care and closures market is segmented on the basis of type, application, end user, and region. On the basis of type, the market is bifurcated into advanced wound closures and advanced wound care. The advanced wound closures segment is further classified into hemostatic and sealing agents, topical tissue adhesive, and wound closure devices. The advanced wound care segment is further classified into moist wound dressings, active wound care, and therapy devices. By application, the market is classified into burns, ulcers, and others. The ulcers segment is further divided into pressure ulcers, diabetic ulcers, and venous ulcers. Depending on end user, the market is classified into hospitals, clinic and nursing homes, and others.
Region-wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (China, Japan, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).
Major key players that operate in the global advanced wound care and closures market are 3M Company, B. Braun SE, Baxter International Inc., Coloplast, Convatec Group plc, Essity Aktiebolag AB, Integra LifeSciences Holdings Corporation, Johnson & Johnson, Medtronic plc, and Smith and Nephew plc. Key players operating in the market have adopted product launch, acquisition, and agreement as key strategies to expand their market share and product portfolio.
The advanced wound care and closures market growth is significantly driven by increase in incidences of chronic wounds, surge in awareness about wound care, and rise in geriatric population. Chronic wounds such as traumatic wounds, venous ulcers, pressure ulcers, and others caused due to various medical conditions such as diabetes, and surgeries require long time for healing. To increase the healing process of chronic wounds, the advanced wound care and closure products are majorly used over the traditional wound care products. For instance, according to Australian Medical Association (AMA), 2023 report, about 450,000 Australians currently live with a chronic wound. In Addition, according to Healogics, LLC 2021, nearly 7 million Americans are living with chronic wound. Thus, rise in incidence of chronic wound drives the adoption of advanced wound care and closures.
Furthermore, surge in awareness about chronic wounds and their associated complications among the general population has increased the demand for advanced wound care solutions. Awareness campaigns, educational seminars, and training programs emphasize the benefits of using advanced wound care products over traditional methods. For instance, Wound Care Awareness Week organized by the Healogics, LLC., focuses on the growing need for wound care. In addition, Kisaco Research has organized the Advanced Wound Care Summit Europe in November 2023. This event is dedicated to advancing cutting-edge wound care products and will emphasize on the needs of industry.
Moreover, growing prevalence of chronic wounds with an ageing population and increasing rates of diseases such as diabetes and heart disease further propel the demand for advanced wound care and closures, which, in turn, drives the market growth.
However, advanced wound care products are more expensive than traditional wound care products. Thus, the high cost of advanced wound care products limits their adoption in the market. Furthermore, stringent regulations for manufacturing of advanced wound care dressing and devices act as a restraint to the market. However, development and launch of advanced products for wound management and surge in technological advancements are expected to create lucrative opportunities for the market growth during the forecast period.
The advance wound care and closures market is segmented on the basis of type, application, end user, and region. On the basis of type, the market is bifurcated into advanced wound closures and advanced wound care. The advanced wound closures segment is further classified into hemostatic and sealing agents, topical tissue adhesive, and wound closure devices. The advanced wound care segment is further classified into moist wound dressings, active wound care, and therapy devices. By application, the market is classified into burns, ulcers, and others. The ulcers segment is further divided into pressure ulcers, diabetic ulcers, and venous ulcers. Depending on end user, the market is classified into hospitals, clinic and nursing homes, and others.
Region-wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (China, Japan, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).
Major key players that operate in the global advanced wound care and closures market are 3M Company, B. Braun SE, Baxter International Inc., Coloplast, Convatec Group plc, Essity Aktiebolag AB, Integra LifeSciences Holdings Corporation, Johnson & Johnson, Medtronic plc, and Smith and Nephew plc. Key players operating in the market have adopted product launch, acquisition, and agreement as key strategies to expand their market share and product portfolio.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the advanced wound care and closure market analysis from 2022 to 2032 to identify the prevailing advanced wound care and closure market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the advanced wound care and closure market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global advanced wound care and closure market trends, key players, market segments, application areas, and market growth strategies.
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Key Market Segments
By Application
- Burns
- Ulcers
- Type
- Pressure Ulcers
- Diabetic Foot Ulcers
- Venous Ulcers
- Others
By End User
- Hospitals
- Clinics and Nursing Homes
- Others
By Type
- Advanced Wound Closures
- Advanced Wound Closures
- Hemostatic and Sealing Agent
- Topical Tissue Adhesive
- Wound Closure Devices
- Advanced Wound Care
- Advanced Wound Care
- Moist Wound Dressings
- Active Wound Care
- Therapy Devices
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
- Key Market Players
- Integra LifeSciences Holdings Corporation
- Essity Aktiebolag AB
- Coloplast
- Medtronic plc
- Baxter International Inc.
- 3M Company
- B. Braun SE
- Johnson & Johnson
- Convatec Group plc
- Smith and Nephew plc.
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: ADVANCED WOUND CARE AND CLOSURE MARKET, BY TYPE
CHAPTER 5: ADVANCED WOUND CARE AND CLOSURE MARKET, BY APPLICATION
CHAPTER 6: ADVANCED WOUND CARE AND CLOSURE MARKET, BY END USER
CHAPTER 7: ADVANCED WOUND CARE AND CLOSURE MARKET, BY REGION
CHAPTER 8: COMPETITIVE LANDSCAPE
CHAPTER 9: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to the report, the advanced wound care and closure market was valued at $19.5 billion in 2022, and is estimated to reach $32.9 billion by 2032, growing at a CAGR of 5.4% from 2023 to 2032.The advanced wound care and closures market is likely to experience a significant growth rate of 5.4% from 2023-2032 owing to rise in demand from healthcare industry
Advanced wound care and closures are specialized products used for the treatment and management of complex or chronic wounds. These products promote wound assessment, infection control, and moist and rapid wound healing. These products require specialized training and are administered by healthcare professionals, such as wound care nurses or surgeons.
Key factors driving the growth of the advanced wound care and closures market include surge in incidences of chronic wound, rising geriatric population, and technological advancement in the advanced wound care dressings. Chronic wounds, which don't heal in accordance with the usual stages in a timely way, are a growing problem in modern medicine. For instance, according to Healogics, LLC., a wound healing experts in the U.S., in 2022, estimated that nearly 7 million Americans are living with chronic wound. Thus, there is a greater need for advanced wound care products to manage these conditions which drives the market growth.
Furthermore, increase in prevalence of chronic diseases also contribute towards the market growth. Chronic diseases such as diabetes, peripheral artery disease and heart diseases increases the risk of injuries. As these diseases are becoming more prevalent, there is a greater demand for advanced wound care products. As these products offer effective management of non-healing wounds. For instance, according to Healogics, LLC., a National experts in the wound healing, reported that about 25% of people living with advanced peripheral artery disease may acquire an amputation within an year due to non-healing wounds. As per the same source, about 82% of leg amputation are carried out among the people who are living with heart diseases. Thus, there is a rising demand for advanced wound care and closures for the effective management of wounds.
Further, technological advancement in the advanced wound care and closure products is expected to create lucrative opportunities for the market growth during the forecast period. For instance, Louisiana State University’s (LSU), biological engineering professor create an advanced wound healing technology. The researchers found that by applying the application of two nanoparticles such as lignosulfonate and lignosulfonate containing calcium peroxide, significantly boost the tissue generation and heals the wound. Thus, development of advanced wound care technologies is expected to create lucrative opportunities for the market growth during the forecast period.
Moreover, surge in ageing population and economic growth in the U.S. further propels the market growth. For instance, according to National Center for Biotechnology Information (NCBI), older adults are more likely to have chronic wounds than younger people. In addition, strong presence of major medical technology companies such as B. Braun SE, Johnson & Johnson, and Essity Aktiebolag AB which further supports the growth of advanced wound care and closures market.
The advance wound care and closures market is segmented on the basis of type, application, end user, and region. On the basis of type, the market is bifurcated into advanced wound closures and advanced wound care. The advanced wound closures segment is further classified into hemostatic and sealing agents, topical tissue adhesive, and wound closure devices. The advanced wound care segment is further classified into moist wound dressings, active wound care, and therapy devices. By application, the market is classified into burns, ulcers, and others. The ulcers segment is further divided into pressure ulcers, diabetic ulcers, and venous ulcers. Depending on end user, the market is classified into hospitals, clinic and nursing homes, and others.
Region-wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (China, Japan, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).
The key players that operate in the global telemedicine market include 3M Company, B. Braun SE, Baxter International Inc., Coloplast, Convatec Group plc, Essity Aktiebolag AB, Integra LifeSciences Holdings Corporation, Johnson & Johnson, Medtronic plc, and Smith and Nephew plc. Major Key players operating in the market have adopted product launch, acquisition, and agreement as their key strategies to expand their market share and product portfolio.
Key Market Insights
- On the basis of type, the advanced wound care segment was the highest revenue contributor to the market in 2022, and is expected to be the fastest growing segment during the forecast period with 5.6% CAGR.
- On the basis of application, the ulcer segment dominated the advanced wound care and closures market in 2022.
- On the basis of end user, the hospitals segment dominated the advanced wound care and closures market in 2022 and it is expected to be the fastest growing segment during the forecast period.
Companies Mentioned
- Integra LifeSciences Holdings Corporation
- Essity Aktiebolag AB
- Coloplast
- Medtronic plc
- Baxter International Inc.
- 3M Company
- B. Braun SE
- Johnson & Johnson
- Convatec Group plc
- Smith and Nephew plc.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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