PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1714902
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1714902
The LATAM advanced wound care market is projected to reach USD 498.2 million by 2030 from USD 312.8 million in 2025, at a CAGR of 9.8% during the forecast period.
Scope of the Report | |
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Years Considered for the Study | 2024-2030 |
Base Year | 2024 |
Forecast Period | 2024-2030 |
Units Considered | Value (USD million) |
Segments | Product, wound type, end user, and countries |
Regions covered | Brazil, Mexico, Colombia, Argentina, Peru, Chile, and the rest of Latin America |
The growth of the LATAM advanced wound care market is primarily driven by the rising incidence of chronic conditions that hinder wound healing, the growing geriatric population, and the emergence of age-related syndromes. The increasing prevalence of diabetes and obesity further accelerates this trend. Moreover, the surge in burn injuries, trauma cases, and road accidents has increased the demand for effective advanced wound care solutions. However, the high cost of advanced wound care products and the potential risks associated with their use pose challenges to market expansion. Despite these barriers, the ongoing development of healthcare infrastructure and the adoption of advanced technologies present substantial opportunities for market growth.
By end user, the hospitals & clinics segment of the LATAM advanced wound care market accounted for the largest market share in 2024.
Based on end users, the LATAM advanced wound care market is divided into hospitals & clinics, ambulatory surgery centers, home care settings, and other end users. In 2024, hospitals & clinics accounted for the largest share of the Latin American advanced wound care market due to their ability to manage a high volume of chronic and complex wound cases, such as diabetic foot ulcers, pressure ulcers, and venous leg ulcers, as well as their advanced infrastructure, availability of specialized care, and rising hospital admissions linked to chronic wounds and hospital-acquired infections.
By application, the chronic wounds segment accounted for the largest market share of the LATAM advanced wound care market.
The LATAM advanced wound care market is segmented into acute and chronic wounds. The chronic wounds segment accounted for the largest market share in 2024, primarily due to the rising number of traffic accidents, workplace injuries, and other trauma-related incidents requiring immediate medical care. The increasing number of surgical procedures for chronic wounds and the importance of treatments for peri-operative wounds are also expected to contribute to the market growth of this segment.
The chronic wounds segment is further divided into diabetic foot ulcers, pressure ulcers, and other chronic wounds, each requiring specialized products for treatment. Diabetic foot ulcers and pressure ulcers are common & expensive, highlighting the critical nature of the market. Advanced wound care solutions are essential for managing chronic wounds, particularly for enhanced patient safety and efficient wound care procedures.
By region, Mexico is expected to grow at the highest CAGR during the forecast period.
The LATAM advanced wound care market is segmented into Brazil, Mexico, Argentina, Colombia, Peru, Chile, and the rest of Latin America. The market in Mexico is expected to grow at the highest CAGR during the forecast period, owing to the expansion of the geriatric population, the rising healthcare costs, and the increasing incidence of chronic wounds. Mexico is expected to grow at the highest CAGR of 11.8% during the forecast period. Additionally, the growing incidence of diabetes has led to a rise in diabetic foot ulcers, highlighting the significance of proper wound care. As wound care awareness improves and healthcare services advance, the demand for LATAM advanced wound care solutions in Mexico will contribute to market growth during the forecast period.
Note 1: Companies are classified into tiers based on their total revenue. As of 2024, Tier 1 = >USD 10.00 billion, Tier 2 = USD 1.00 billion to USD 10.00 billion, and Tier 3 = <USD 1.00 billion.
Note 2: C-level primaries include CEOs, CFOs, COOs, and VPs.
Note 3: Others include sales managers, marketing managers, business development managers, product managers, distributors, and suppliers.
The leading players operating in the LATAM advanced wound care market are Solventum (US), Smith+Nephew (UK), Cardinal Health (US), B. Braun SE (Germany), Molnlycke AB (Sweden), Essity Aktiebolag (Sweden), Convatec Group PLC (UK), PAUL HARTMANN AG (Germany), Coloplast Group (Denmark), Integra LifeSciences Corporation (US), MATIV HOLDINGS, INC. (US), Owens & Minor (US), and AVERY DENNISON CORPORATION (US).
Research Coverage
This report studies the LATAM advanced wound care market based on product, wound type, end user, and country. The report also studies factors (such as drivers, restraints, opportunities, and challenges) affecting market growth and provides details of the competitive landscape for market leaders. Furthermore, the report analyzes micro markets concerning their growth trends. It forecasts the revenue of the market segments relating to five major regions (and the respective countries in these regions).
Reasons to Buy the Report
The report will enable established and entrants/smaller firms to gauge the market's pulse, which, in turn, would help them gain a larger market share. Firms purchasing the report could use one or a combination of the below-mentioned strategies to strengthen their market presence.
Competitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players.