Advanced Wound Care Market - Global Industry Analysis

Advanced Wound Care Market By Product (Dressings, Grafts & Matrices, and Topical Agents). By Wound Type (Surgical & Traumatic Wounds, Diabetic Foot Ulcers, Pressure Ulcers, Venous Leg Ulcers, and Burns & Other Wounds). By End Users (Hospitals, ASCs, Wound Care Centers, Home Care Settings, and Other End Users). and By Region – Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022-2028

Published Date: 10-May-2022 Category: Pharmaceutical Report Format : PDF Pages: 199 Report Code: ZMR-2686 Status : Published

The Advanced Wound Care Market was worth around USD 9,215.1 million in 2021 and is estimated to grow to about USD 12,997.9 million by 2028, with a compound annual growth rate (CAGR) of approximately 5.9 percent over the forecast period.

Description

Industry Prospective:

The Advanced Wound Care Market was worth around USD 9,215.1 million in 2021 and is estimated to grow to about USD 12,997.9 million by 2028, with a compound annual growth rate (CAGR) of approximately 5.9 percent over the forecast period. The report analyzes the Advanced Wound Care Market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the Advanced Wound Care Market.

Advanced Wound Care Market: Overview

Advanced wound care solutions aid in the treatment of diabetic foot ulcers, which are common in diabetic patients. These products aid in the retention of moisture and the quick healing of wounds both inside and topically. The use of advanced wound care products is predicted to expand as the number of diabetic patients increases. Additionally, these medications aid in the absorption of necrotic tissues, which is useful in the treatment of surgical site infections. As a result, healthcare professionals prefer improved wound care products, which is expected to drive market expansion throughout the forecast period. The constantly increasing frequency of hospital visits for wound treatment will drive up the demand for advanced wound care. The growing frequency of chronic diseases around the world is driving the demand for sophisticated wound care solutions. Moreover, the growing senior population is likely to drive market expansion, as the older population heals slowly. The technical advances in advanced wound care products are expected to have a substantial impact on the advanced wound care market.

Covid-19 Impact

The onset of the COVID-19 pandemic has altered medical care delivery around the world. The increased pressure caused by the rising prevalence of COVID-19 hospitalization had resulted in the re-profiling of several hospitals and departments for treating COVID-19 patients. As a result, numerous elective procedures have been canceled or postponed around the world in order to reserve or allocate scarce capacities and resources (such as hospital beds and patient care specialists) toward COVID-19 patient care.

 On the other hand, the pandemic has caused supply chain disruptions, impacting the worldwide medical equipment business. The pandemic has had a negative influence on global financial expectations, the supply chain, operations, and crisis response strategies. The spread of COVID-19 caused disruptions for makers of advanced wound care devices, resulting in lockdowns and travel restrictions. As a result of the development of COVID-19 infections, major economies were badly impacted, causing a huge impact on the manufacturing of sophisticated wound care products.

For chronic wounds, healthcare providers have shifted to new models of care, such as telehealth platforms and virtual consultations. In the coming years, this is expected to revolutionize wound management guidelines and lead to a new model of care.

Global Advanced Wound Care Market

Advanced Wound Care Market: Driver

The increasing prevalence of diseases and disorders that impair wound healing abilities

Wound healing is hampered by physical health issues such as acute wounds, chronic wounds, and surgical wounds. The presence of acute, chronic, and surgical wounds has increased significantly over the last decade, owing primarily to an increase in the global aging population, increasing traumatic wounds, an increase in the number of surgeries, and an increase in the prevalence of conditions such as obesity and diabetes. Diabetes and obesity can increase the overall frequency and complexity of wounds such as infections, ulcerations (leg or foot ulcers), and chronic wounds, all of which require treatment (advanced wound management) and result in high medical expenses. Advanced wound care treatments such as hydrophilic foam dressings, hydrogels, hydrofibers, and alginates, which can absorb up to 20 times their weight, allow for a faster and more successful recovery from these disorders. Incisions can be used to drain abscesses in most cases. Since incisions on the plantar area heal slowly, patients are immobilized for a longer period of time. This will increase the need for advanced wound management for wound drainage and faster healing, which will increase the demand for advanced wound care products.

Advanced Wound Care Market: Restraint

Advanced wound care products are expensive.

The high cost of chronic wound therapies and advanced wound care products may limit their uptake, particularly in cost-sensitive areas such as Asia and the Rest of the World. In these areas, patients and physicians prefer less expensive advanced wound care products. However, with increased awareness of the efficacy of these treatments and rising disposable incomes in many of these nations, the use of advanced wound care products is projected to rise in the future years. Although these goods are more expensive than standard gauzes, current studies show that they save money in the long run due to lower labor costs.

Report Scope:

Report Attribute Details
Base Year 2020
Historic Years 2016 - 2020
Forecast Years 2021 - 2028
Segments Covered By Product Type, By Application, and By End Use
Forecast Units Value (USD Billion), and Volume (Units)
Quantitative Units Revenue in USD million/billion and CAGR from 2021 to 2028
Regions Covered North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
Countries Covered U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Number of Companies Covered 10 companies with scope for including additional 15 companies upon request
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
Customization Scope Avail customized purchase options to meet your exact research needs.

Advanced Wound Care Market: Opportunity

Emerging economies' growth potential

In comparison to Europe and North America, the Asia Pacific and Latin American markets for advanced wound treatment are relatively underdeveloped and offer enormous growth potential. As a result, various players are working on expanding their presence in these locations. Emerging economies such as India, South Korea, Malaysia, and Vietnam, as well as Africa and Middle Eastern countries such as Israel, Saudi Arabia, and the United Arab Emirates, provide considerable growth prospects for major market players. This is due to reduced regulatory hurdles, advancements in healthcare infrastructure, and increasing patient population, and increased healthcare expenditure. Furthermore, regulatory rules in the Asia Pacific region are more adaptable and business-friendly than in industrialized countries.

Advanced Wound Care Market: Segmentation

The Advanced Wound Care Market is segregated based on Product, Wound Type, and End User.

By Product, the market is classified into Dressings, Grafts & Matrices, and Topical Agents. The dressings sector held the greatest share of the advanced wound care market in the forecast period, owing to rising spending on chronic and surgical wounds, a rise in burn injuries, and technical developments in dressings. The cheaper cost of wound dressings and their great efficiency in wound exudate management is likely to increase their usage.

By Wound Type, the market is classified into Surgical & Traumatic Wounds, Diabetic Foot Ulcers, Pressure Ulcers, Venous Leg Ulcers, and Burns & Other Wounds. In the forecast period, the surgical & traumatic wounds segment held the greatest proportion of the advanced wound care market. This segment's growth is being driven by factors such as an increase in the number of surgical procedures performed and an increase in the prevalence of chronic illnesses. The chronic wounds segment, on the other hand, is predicted to grow at the fastest rate throughout the projection period. The segment's growth is likely to be driven by an increase in the frequency of diabetic foot ulcers, venous pressure ulcers, and other chronic wounds.

By End User, the market is classified into Hospitals, ASCs, Wound Care Centers, Home Care Settings, and Other End Users. The hospitals, ASCs, and wound care centers category held the greatest proportion of the advanced wound care market in the forecast period. The high volume of treatment operations performed in hospitals, as well as the availability of reimbursements, are driving the expansion of this market. Similarly, an increase in the number of procedures performed around the world is aiding the market's momentum. During the projected period, the home healthcare category is expected to grow at the quickest rate. During the COVID-19 pandemic, there was an increase in demand for improved wound care items in-home healthcare. Furthermore, an increase in the senior population is expected to drive improved wound care products even further.

Recent Developments

  • In 2020, ConvaMax, a novel superabsorbent wound dressing solution from ConvaTec Group PLC, was introduced. This medication was created to treat wounds that exude a lot of fluid, such as diabetic foot ulcers, pressure ulcers, leg ulcers, and others.

Regional Landscape

In terms of revenue, North America dominated the advanced wound care market throughout the forecast period. Adoption is predicted to increase because of the rising prevalence of acute and chronic wounds, as well as the greater treatment expenses associated with pressure ulcers, diabetic foot ulcers, and surgical wounds. Furthermore, North America's dominance in this industry is due to the presence of acceptable reimbursement rules in the United States and Canada. Furthermore, the expanding geriatric population and the increasing number of chronic wound patients would boost the market's growth rate in this region.

The Asia Pacific market is likely to rise rapidly because of rising per capita healthcare spending. Furthermore, market participants in this region are making significant expenditures, which will boost demand for sophisticated wound treatment products. Furthermore, there is a growing awareness of the availability of chronic wound care, as well as a surge in demand for these goods. Furthermore, increased healthcare expenditure will drive the market's growth rate in this area.

Competitive Landscape

Some of the main competitors dominating the Advanced Wound Care Market include - 3M Company (US), Smith & Nephew plc (UK), ConvaTec Group Plc (UK), Coloplast A/S (Denmark), Mölnlycke Health Care AB (Sweden), Integra LifeSciences Holdings Corporation (US), PAUL HARTMANN AG (Germany), B. Braun Melsungen AG (Germany), Cardinal Health, Inc. (US), Organogenesis Holdings Inc. (US), Misonix, Inc. (US), MiMedx Group, Inc. (US), Zimmer Biomet Holdings, Inc. (US), Lohmann & Rauscher GmbH & Co. KG (Germany), DeRoyal Industries, Inc. (US), Medline Industries, Inc. (US), DermaRite Industries, LLC (US), Kerecis (Iceland), Advancis Medical (UK), Winner Medical Co., Ltd. (China), Hollister Incorporated (US), Mil Laboratories Pvt. Ltd. (India), Shield Line (US), ZENI MEDICAL (US), Carilex Medical (Germany), Pensar Medical, LLC (US), Wuhan VSD Medical Science & Technology Co., Ltd. (China), and HAROMED B.V. (Belgium).

Advanced Wound Care Market is segmented as follows:

By Product

  • Dressings
  • Grafts & Matrices
  • Topical Agents

By Wound Type

  • Surgical & Traumatic Wounds
  • Diabetic Foot Ulcers
  • Pressure Ulcers
  • Venous Leg Ulcers
  • Burns & Other Wounds

By End-User

  • Hospitals, ASCs, and Wound Care Centers
  • Home Care Settings
  • Other End Users

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France 
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Table Of Content

Methodology

This report is based on in-depth qualitative and quantitative analyses of the global Advance Wound Care market. Zion Market Research has collected and analyzed key data belong to the global Advance Wound Care market using a variety of methods. Quantitative analysis has been done following various projection and sampling techniques.

The qualitative analysis involved primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes were validated through experts' opinions. The market dynamics have been determined after conducting a detailed study of the micro and macroeconomic indicators of the market.

Various parameters have been taken into account while estimating market size. The revenue generated by the leading industry participants in from the sales of Advanced Wound Care across the world has been calculated through primary and secondary research.

Zion Market Research employs the combination of secondary research followed by extensive primary research. Under secondary research, we refer to prominent paid as well as open access data sources including product literature, company annual reports, government publications, press releases, industry association’s magazines and other relevant sources for data collection. Other prominent secondary sources include STATISTA, trade journals, trade associations, statistical data from government websites, etc. 

For this study, Zion Market Research has conducted all-encompassing primary research with key industry participants to collect first had data. Moreover, in-depth interviews with key opinion leaders also assisted in the validation of findings from secondary research and to understand key trends in the Advanced Wound Care industry. Primary research makes up the major source of data collection and validation.   

Primary Research

We conduct primary interviews with industry participants and commentators on an ongoing basis to validate data and analysis. A typical research interview fulfills the following functions:

  • Provides firsthand information on market size, market trends, growth trends, competitive landscape, outlook, etc.
  • Helps in validating and strengthening the secondary research findings
  • Further, develops the analysis team’s expertise and market understanding
  • Primary research involves e-mail interactions, telephonic interviews as well as face-to-face interviews for each market, category, segment, and sub-segment across geographies

Participants who typically participate in such a process include, but are not limited to:

  • Industry participants: CEOs, VPs, marketing/product managers, market intelligence managers and national sales managers
  • Purchasing managers, technical personnel, distributors and resellers
  • Outside experts: Investment bankers, valuation experts, and research analysts specializing in specific markets

Key opinion leaders specializing in different areas corresponding to different industry verticals

Secondary Research

Secondary research sources that are typically referred to include, but are not limited to:

  • Company websites, annual reports, financial reports, broker reports, investor presentations and SEC filings
  • IDC and other relevant magazines
  • Internal and external proprietary databases, and relevant patent and regulatory databases
  • National government documents, statistical databases, and market reports

News articles, press releases, and webcasts specific to companies operating in the market

Following a comprehensive secondary and primary research and insights thus gathered, analysts at Zion Research have provided an in-depth analysis of various aspects of the Advanced Wound Care market.

Models

Where no hard data is available, we use models and estimates to produce comprehensive data sets. A rigorous methodology is adopted, wherein the available hard data is cross-referenced with the following data types to produce estimates:

  • Demographic data: Population split into segments
  • Macroeconomic indicators: GDP, PPP, Per Capita Income, etc.
  • Industry indicators: Expenditure, technology stage, and infrastructure, sector growth and facilities
  • Data is then cross-checked by an expert panel.

Free Analysis

Wound care refers to specific types of treatment for pressure sores, skin ulcers and other wounds that break the skin. Advanced wound care products are usually used to manage complex wounds, including burns, chronic wounds and complex trauma and surgical wounds. Chronic and complex wounds represent one of the predominant challenges to global healthcare systems because they are hard to heal and therefore, expensive to treat.  Due to its high cost, advanced wound care has emerged as a standard solution for treating chronic wounds. Advanced wound care products are gradually replacing the traditional wound care products due to their efficacy and effectiveness in managing wounds by enabling faster healing.

According to NCBI, more than 10% of the US population is affected by diabetes. In adults who are aged over 62 years, the percent of the population suffering from diabetes is more than 20 percent. The incidence of chronic wounds especially foot ulcers is increasing among the diabetic population. While more than 90,000 adults are expected to undergo a lower extremity amputation. It is also estimated that patient with diabetes is 10 times more likely to undergo amputation at some point in their life. The number of diabetes patients is expected to increase with increasing geriatric population which in turn will drive the market for the advanced wound care management market.

Global Advance Wound Care Market

Based on product type the market is segmented into advanced wound dressings, active wound care, and antimicrobial dressing. On the basis of wound type, the market is segmented into diabetic foot ulcers, pressure ulcers, venous leg ulcers, surgical and traumatic wounds, burns and other chronic wounds. Based on end users the market is segmented into hospitals, ASC’s, community medical centers, home health care and others category. 

North America held a dominant share of the international market for wound care management in the 2015 and region is projected to continue with its regional supremacy over the forthcoming years as well. The growth of this regional market is attributed to the relentless launch of advanced wound care diagnostics for the purpose of identification of pathogens and coming up of new product lines by the prominent market players. Asia-Pacific is projected to grow at a significant CAGR, due to rising geriatric population, growing demand for advanced wound care products, and increasing unmet medical needs.

Some of the key players in the advanced wound care market are Smith & Nephew, B. Braun, ConvaTec Group, Integra LifeSciences, Cardinal Health, Medtronic, Wound Care Technologies, BSN medical GmbH, and Hematris Wound Care. Currently, the market’s growth rate is very high, which has encouraged the leading players to focus on consolidation through product licensing and long-term partnerships in order to gain maximum share in the market.
 

Choose License Type

Request the coronavirus impact analysis across industries and markets

FrequentlyAsked Questions

The use of advanced wound care products is predicted to expand as the number of diabetic patients increases. Additionally, these medications aid in the absorption of necrotic tissues, which is useful in the treatment of surgical site infections. As a result, healthcare professionals prefer improved wound care products, which is expected to drive market expansion throughout the forecast period.

According to the Market Research report, the Advanced Wound Care Market was worth about 9,215.1 (USD million) in 2021 and is predicted to grow to around 12,997.9 (USD million) by 2028, with a compound annual growth rate (CAGR) of around 5.9 percent.

In terms of revenue, North America dominated the advanced wound care market throughout the forecast period. Adoption is predicted to increase because of the rising prevalence of acute and chronic wounds, as well as the greater treatment expenses associated with pressure ulcers, diabetic foot ulcers, and surgical wounds.

Some of the main competitors dominating the Advanced Wound Care Market include - 3M Company (US), Smith & Nephew plc (UK), ConvaTec Group Plc (UK), Coloplast A/S (Denmark), Mölnlycke Health Care AB (Sweden), Integra LifeSciences Holdings Corporation (US), PAUL HARTMANN AG (Germany), B. Braun Melsungen AG (Germany), Cardinal Health, Inc. (US), Organogenesis Holdings Inc. (US), Misonix, Inc. (US), MiMedx Group, Inc. (US), Zimmer Biomet Holdings, Inc. (US), Lohmann & Rauscher GmbH & Co. KG (Germany), DeRoyal Industries, Inc. (US), Medline Industries, Inc. (US), DermaRite Industries, LLC (US), Kerecis (Iceland), Advancis Medical (UK), Winner Medical Co., Ltd. (China), Hollister Incorporated (US), Mil Laboratories Pvt. Ltd. (India), Shield Line (US), ZENI MEDICAL (US), Carilex Medical (Germany), Pensar Medical, LLC (US), Wuhan VSD Medical Science & Technology Co., Ltd. (China), and HAROMED B.V. (Belgium).

HappyClients

Office Address

Contact Us

Zion Market Research
Tel: +1 (844) 845-5245
USA/Canada Toll Free No.+1 (855) 465-4651

Asia Pacific Office

3rd Floor, Mrunal Paradise, Opp Maharaja Hotel, Pimple Gurav, Pune 411061, Maharashtra, India
Phone No 020-46277770

Contact #

US OFFICE NO +1 (844) 845-5245
US/CAN TOLL FREE +1 (855) 465-4651
Email: sales@zionmarketresearch.com

We Are On Social

Business Hours

Our support available to help you 24 hours a day, five days a week.

Monday - Friday: 9AM - 6PM

Saturday - Sunday: Closed