The Advanced Wound Care Market is forecasted to grow from USD 10.8 Billion in 2019 to USD 15.56 Billion by 2027, at a CAGR of 4.5% during the forecast period. The market is primarily driven by the increasing prevalence of diabetes, increasing geriatric population, increasing incidence of wound ulcer, technological advancements in advanced wound care products, increased funding for wound care research, and increasing awareness programs on wound management.
Rising geriatric population base at high risk of chronic wounds will facilitate the demand for advanced wound care products. The rising pool of patients suffering from chronic injuries causes significant cost burdens on healthcare systems worldwide.
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It is predicted that the existing and rising cost burden of these chronic wounds will drive investment in advanced wound care technology that will have a significant positive impact on the growth of the industry. However, prohibitive costs of advance wound care products, which often undermine the affordability of treatment, will hinder industry growth in the foreseeable future.
Impaired or delayed healing of the wound in chronic diseases, as well as after surgical procedures, poses a serious threat to patients and puts them at risk of infection, amputation, and death.
Further key findings from the report suggest
- The Advanced Wound Care Market is forecasted to grow from USD 10.8 Billion in 2019 to USD 15.56 Billion by 2027, at a CAGR of 4.5% during the forecast period. The market is primarily driven by increasing prevalence of diabetes, rising geriatric population, increasing incidences of wound ulcer, technological advancements in advanced wound care products, rise in funding for wound care research, and surge in awareness programs on wound management.
- The market for hospitals and clinics is expected to grow the largest at USD 10.13 Billion in 2027, at a CAGR of 4.7% during the forecast period. Increasing hospital admissions due to chronic wounds (such as pressure ulcers, diabetic foot, and venous leg ulcer) and rising incidences of hospital-acquired pressure ulcers are key market drivers for the growth of this end-user segment. Furthermore, extended hospital stays of diabetes patients in this end-user segment further increases the demand for advanced wound care products.
- The market for surgical wounds is expected to grow the largest at USD 4.76 Billion in 2027, at a CAGR of 5.1% during the forecast period. The growth of this segment can be attributed to the increasing incidences of diabetic foot ulcers & pressure ulcers and post-operative surgical wounds. Surgical wounds extend the patients’ stay at the hospital, causing enormous economic burden and significantly impairing the quality of life. The increasing number of surgeries due to trauma, accidents, and the rising prevalence of chronic diseases will boost the growth of the market over the forecast period.
- The market for moist wound therapy is expected to grow the largest at USD 5.68 Billion in 2027, at a CAGR of 4.7% during the forecast period. Factors that drive this segment’s growth include increasing incidences of diabetes-associated ulcers and increased demand for innovative and advanced wound dressings to treat such wounds.
- The North American market is expected to grow the largest and reach USD 6.71 Billion by 2027, at a CAGR of 4.9% during the forecast duration. The regional demand will be driven by the high and rising prevalence of chronic and acute wounds and an increasing number of surgeries. Additionally, rising awareness and adoption of advanced wound care devices, such as Negative-pressure wound therapy (NPWT), will propel regional growth in the coming years.
- The major players in the market are Smith & Nephew (U.K.), Mölnlycke Health Care (Sweden), B. Braun (Germany), ConvaTec Group (U.K.), Coloplast (Denmark), Integra LifeSciences (U.S.), 3M (U.S.), Cardinal Health (U.S.), Acelity L.P. (U.S.), Medtronic (Ireland), Paul HARTMANN (Germany), Medline Industries (U.S.), Advanced Medical Solutions Group (U.K.), BSN medical GmbH (Germany), MiMedx Group, Inc. (U.K.), and others.
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Segments Covered in the report:
This report forecasts volume and revenue growth at global, regional, and country levels to provides an analysis of industry trends in each segment and sub-segment from 2017 to 2027. For the purpose of this study, Reports and Data segments the market on the basis of product type, wound type, end-user, and region.
Product Type (Revenue, USD Million; 2017-2027)
- Moist Wound Dressings
- Wound Therapy Devices
- Pressure Relief Devices
- Negative Pressure Wound Therapy Systems
- Hyperbaric Oxygen Equipment
- Electrical Stimulation Devices
- Other Wound Therapy Devices
- Active Wound Care
- Artificial Skin and Substitutes
- Allografts & Xenografts
- Other Substitutes
- Topical Agents
Wound Type (Revenue, USD Million; 2017-2027)
- Surgical Wounds
- Pressure Ulcers
- Diabetic Foot Ulcers
- Venous Ulcers
- Traumatic Wounds
- Other Wounds
End-User (Revenue, USD Million; 2017-2027)
- Hospitals and Clinics
- Home Care Settings
- Other End Users
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Region (Revenue, USD Million; 2017-2027)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
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