Global Advanced Wound Care Market Size, Share, Growth Analysis, By Product(Dressings (Foam, Hydrocolloid), By Wound Type(Surgical, Traumatic), By End-User(Hospital, Homecare) - Industry Forecast 2022-2028

Advanced Wound Care Market was valued at USD 16,800 Million by 2027 from USD 6,500 Million in 2021, at a CAGR of 5.3% during the forecast period (2020-2027).

Acute and chronic diseases are treated with advanced wound care products. Traditional wound care products and solutions are being phased out in favour of advanced wound care products that provide immediate and effective treatment. Slivers and alginates are used in wound dressings for chronic injuries and surgeries to keep the wound from becoming infected. Furthermore, biomaterials and skin grafts are used to treat wounds that cannot heal on their own. As a result, the market is seeing an increase in new and more advanced products, which is likely to aid market growth.

The changing demographics of the market, as well as the rising preference for value-based services, will drive market growth. The ageing population has a higher demand for at-home health services, which increases the demand for healthcare providers. Government support is another factor that influences market growth.

Top-down and bottom-up approaches were used to estimate and validate the size of Asia Pacific Advanced Wound Care Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined by using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Segments covered in this report:

The Global advanced wound care market is segmented by Product (Dressings (Foam, Hydrocolloid, Film, Alginate), NPWT, Debridement Devices, Grafts, Matrices, Topical Agents), By Wound Type (Surgical, Traumatic, Ulcers, Burns), By End User (Hospital, Homecare) &. Based on region Advanced Wound Care Market is categorized into: North America, Europe, Asia-Pacific, South America, and MEA.

Driver

Traumatic wounds, the global geriatric population, the rising number of surgeries, and rising cases of diabetes and obesity are driving the global advanced wound care market. Diabetes and obesity play an important role in the development of wound complexity, increasing global demand for advanced wound care.

As technology advances, the market sees new product innovations. Smart innovations include smart wound dressings with built-in sensors that emit light or glow when an infection begins to develop. This and other such innovations have been the subject of research. Aside from this, there are several other more effective and efficient product innovations on the market. Convatec, for example, introduced Foam Lite in April 2017, a light, flexible silicone foam dressing for managing low to non-exuding chronic and acute wounds. As a result, such factors are likely to have a positive impact on market growth during the forecast period.

Restraint

The high cost of treating chronic wounds is one of the key restraining factors identified for this market, which has a significant impact on the adoption of wound care solutions. Delayed diagnosis in emerging markets such as China, Brazil, and India, which raises treatment costs, may also lead to low consumer acceptance.

Market Trends

Bioactive therapies are used to treat advanced wounds and will drive market growth. To meet the growing demand for urgent and effective wound management, key market players are employing nanofiber, allograft, xenograft, and cell-based therapies. The advantages of bioactive therapies, such as reduced treatment time and wound cost, are gaining popularity among consumers.

Increased funding and investment in market research and development is another trend driving positive market growth. Leading players in the advanced wound care market are heavily investing in research and development. These R&D activities are geared towards the creation of technologically advanced products. High R&D activity in the industry will result in the development of superior wound care products.