Advanced Wound Care Market Forecasts to 2030 - Global Analysis By Product (Devices & Accessories, Dressings, Active Wound Care, Antimicrobial, Grafts & Matrices, Topical Agents and Other Products), Type of Wound, End User and By Geography

According to Stratistics MRC, the Global Advanced Wound Care Market is accounted for $12.4 billion in 2023 and is expected to reach $26.5 billion by 2030 growing at a CAGR of 11.4% during the forecast period. The market for advanced wound care includes a broad spectrum of goods, services, and innovations intended to manage difficult wounds and encourage healing. A number of factors, including an aging population, the rise in chronic wounds technological advancements, and an increasing emphasis on better wound care outcomes, have contributed to this market's notable growth in recent years. The increased prevalence of pressure ulcers and chronic wounds is a result of the demographic shift towards an older population. Driven by innovation, developments in medical technology, and an increasing demand for efficient ways to manage complicated wounds with the ultimate goal of improving patient outcomes and quality of life, the advanced wound care market is still growing.

According to the study published in the International Wound Journal in February 2021, in Germany, the COVID-19 pandemic hindered access to clinical care for chronic wounds

Market Dynamics:

Driver:

Increasing prevalence of chronic wounds

The need for advanced wound care products is directly driven by the rising prevalence of chronic wounds, including diabetic ulcers, venous leg ulcers, pressure ulcers, and other complex wounds. To effectively manage these complex wounds, this includes negative pressure wound therapy (NPWT) devices, bioengineered skin substitutes, specialized dressings, and other cutting-edge treatment modalities. In order to meet the needs of patients with chronic wounds, regulatory bodies might concentrate more of their efforts on assessing and approving cutting-edge wound care products and technologies.

Restraint:

High cost of advanced wound care products

Patients with limited healthcare resources or those from lower-income backgrounds may find it difficult to obtain advanced wound care products due to high costs. Individuals may find it difficult to pay for these pricey procedures, which could result in unequal access to cutting-edge wound care techniques. Because advanced wound care treatments can be expensive, some patients may choose not to receive them, which could result in non-adherence or stopping prescribed therapies. This may hinder the efficacy of care and have a detrimental effect on patient results.

Opportunity:

Technological advancements and innovations

Cutting-edge dressings with distinctive materials and structures are among the sophisticated wound care products made possible by technological advancements. These dressings provide moisture balance, aid in autolytic debridement, and guard against infections to create the ideal environment for wound healing. Furthermore, high-resolution cameras, three-dimensional imaging, and thermal imaging are examples of advanced imaging technologies that support precise wound assessment by giving medical professionals comprehensive information about the features of the wound, tissue perfusion, and healing progress.

Threat:

Limited access in underserved areas

In underprivileged areas, a lack of access to sophisticated wound care exacerbates healthcare disparities. Individuals residing in isolated or rural regions frequently encounter obstacles when trying to reach advanced treatment options or wound care centers, which can result in unequal access to cutting-edge treatments. It's possible that patients and healthcare professionals in underprivileged areas are not as familiar with or have limited access to advanced wound care products and treatments. One may undervalue the significance of advanced wound care in the management of complex wounds as a result of this ignorance and lack of awareness.

COVID-19 Impact

Healthcare resources were diverted during the early stages of the pandemic in order to handle the spike in COVID-19 cases. The postponement or delay of non-essential medical procedures, such as certain elective surgeries and wound care treatments, has had an impact on the demand for advanced wound care products overall. Additionally, telemedicine and remote monitoring became popular due to restrictions on in-person medical visits and to reduce the risk of exposure. In order to minimize in-person visits, some advanced wound care providers have adopted telehealth solutions to evaluate and assist patients in managing their wounds from a distance.

The devices & accessories segment is expected to be the largest during the forecast period

The devices & accessories segment is estimated to have a lucrative growth, due to the advanced wound care devices and accessories include a broad range of cutting-edge instruments intended to efficiently manage and treat complicated wounds. By increasing blood flow, decreasing edema, and eliminating extra fluid, negative pressure is used by NPWT devices to hasten the healing process of wounds. They usually include a wound dressing, tubing, and a pump to seal the wound with a vacuum. New tools, methods, and accessories targeted at enhancing outcomes in the field of advanced wound care are being developed as a result of the ongoing advancements in technology and medical research.

The puncture wound segment is expected to have the highest CAGR during the forecast period

The puncture wound segment is anticipated to witness the highest CAGR growth during the forecast period, because effective management of puncture wounds is essential to advanced wound care in order to minimize complications, encourage healing, and prevent infection. Because of their depth and potential for contamination, puncture wounds have a high risk of infection. Depending on the extent of the wound, the object that caused the injury, and the risk of infection, think about using prophylactic antibiotics. Thus all the above intensive advanced wound care boost the growth of the market.

Region with largest share:

North America is projected to hold the largest market share during the forecast period owing to the increased frequency of chronic wounds, including diabetic foot ulcers, the availability of sophisticated healthcare facilities, including diabetic clinics and specialized wound care centers, and the growing emphasis on the early detection and comprehensive management of diabetic foot ulcers are all considered contributing factors to this growth. Furthermore, the North American healthcare system has made large investments to upgrade its facilities and infrastructure, which has improved patient access to diabetes treatments and services thus driving the growth of the market in this region.

Region with highest CAGR:

Asia-Pacific is projected to have the highest CAGR over the forecast period, owing to the existence of significant players in the area is responsible for the market expansion in this area. The Asia-Pacific area has worked hard to upgrade its wound care and specialized foot care facilities, among other aspects of its healthcare infrastructure. Moreover, due to the region's well-established domestic business presence, increased funding for wound care research, and advancements in industrial infrastructure, Asia-Pacific is expected to grow at the fastest rate during the forecast period. These factors also present lucrative opportunities for major players in the market in this region.

Key players in the market:

Some of the key players profiled in the Advanced Wound Care Market include 3M Company, Bioventus LLC, Braun SE, Cardinal Health Inc., Coloplast, ConvaTec Group plc, Dermarite Industries LLC, Hollister Incorporated, Integra LifeSciences Holdings Corporation, Kerecis, Lohmann & Rauscher GMBH & Co, Medline Industries, Medtronic, MIMEDX Group, Inc, Molnlycke Health Care AB, Organogenesis Holdings Inc, Paul Hartmann AG, Smith & Nephew plc, URGO Medical and Zimmer Biomet Holding Inc

Key Developments:

In October 2023, Smith+Nephew launched revolutionary REGENETEN◊ Bioinductive Implant in Japan, providing an advanced healing option for patients with rotator cuff tears. The biocompatible and purified collagen-based REGENETEN Bioinductive Implant induces new tendon-like growth.

In August 2023, Smith+Nephew launched OR3O™ Dual Mobility System in India for use in primary and revision hip arthroplasty. These implants have a small diameter femoral head that locks into a larger polyethylene insert increasing stability.

In August 2023, Convatec partners with Tandem Diabetes Care on new infusion set for innovative new Tandem Mobi system. Convatec is proud to be the supplier of infusion sets to Tandem Diabetes Care.

Products Covered:

• Devices & Accessories
• Dressings
• Active Wound Care
• Antimicrobial
• Grafts & Matrices
• Topical Agents
• Other Products

Type of Wounds Covered:

• Chronic Ulcers
• Soiled Abrasions
• Clean Abrasions
• Infected Wounds
• Puncture Wound
• Laceration Sutured
• Second-Degree Burn
• Sloughing Wound
• Other Type of Wounds

End Users Covered:

• Specialty Clinics
• Home Healthcare
• Hospitals
• Other End User

Regions Covered:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • New Zealand
  • South Korea
  • Rest of Asia Pacific
• South America
  • Argentina
  • Brazil
  • Chile
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
  • Rest of Middle East & Africa

What our report offers:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
• Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

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• Company Profiling
  • Comprehensive profiling of additional market players (up to 3)
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