The global advanced wound care market size is expected to reach USD 16.85 Billion in 2030 and register a revenue CAGR of 6.7% over the forecast period, according to latest report by Reports and Data. Rising incidence of acute diseases and increasing preference of physicians and patients for advanced wound care dressings, owing to their effectiveness, are factors driving advanced wound care market revenue growth.
Increasing prevalence of chronic diseases, such as diabetic venous leg ulcers, foot ulcers, obesity, cardiovascular disease, and others, is driving growth of the advanced wound care market. Chronic diseases such as cancer, coronary artery disease, and peripheral vascular disease can compromise wound healing capabilities of a patient, especially in older adults, where it can cause complexity in disease treatment. For instance, in 2019, prevalence of diabetic foot ulcers among diabetes patients is estimated to be around 13%. Thus, increasing prevalence of conditions such as diabetic foot ulcers is creating high demand for advanced wound care products.
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This study aims to define market sizes and forecast the values for different segments and countries in the coming eight years. The study aims to include qualitative and quantitative perspectives about the industry within the regions and countries covered in the report. The report also outlines the significant factors, such as driving factors and challenges, that will determine the market’s future growth.
Market Dynamics:
The pharma and healthcare sector has significantly advanced in recent years and is expected to register steady revenue growth over the forecast period owing to rapid innovations in medical technology, increasing investments, rising healthcare expenditure, and high adoption of advanced products and systems. Factors such as rising prevalence of chronic diseases such as diabetes, cancer, cardiovascular diseases, and neurological disorders across the globe, rising cases of coronavirus, improving healthcare infrastructure and research facilities, and increasing adoption of remote patient monitoring services and home care settings are expected to fuel global market revenue growth over the forecast period. In addition, the increasing number of hospitals and ambulatory care centers worldwide, high demand for personalized medicine, increasing investments in drug discovery, and growing investments by public and private sectors are expected to drive global market growth in the coming years.
Competitive Landscape:
The report also focuses on details of each market player including its global position, financial standing, revenue generation, company overview, and product & service portfolio. The Advanced Wound Care market is extremely competitive and consists of several key players at the regional and global levels. Key players are focused on adopting various strategies such as new product launches, mergers and acquisitions, investments in R&D, partnerships, joint ventures, and collaborations to strengthen their market position and enhance their product portfolio.
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Some Key Highlights from the Report
- In March 2020, Smith+Nephew, the global medical technology company, launched PICO 14 Single Use Negative Pressure Wound Therapy System (sNPWT). PICO 14 requires less user intervention, and it has enhanced pump duration of 14 days. It is built on the features and advantages of previous PICO pumps and is suitable for patients where the risk of Surgical Site Complications (SSCs) and consequences of getting them are high, such as in abdominal surgery, cardiothoracic surgery, and Coronary Artery Bypass Graft Surgery (CABG).
- Infection management segment accounted for largest revenue share in 2021, owing to rising incidence of burn injuries and increasing spending on surgical wounds. Technological advancements in the healthcare sector and improvement in diagnostics are other factors contributing to growth of the segment.
- Chronic wound segment accounted for largest revenue share in 2021, owing to growing prevalence of post-operative surgical wounds. Increasing awareness regarding advanced diagnosis and rapid technological advancements in healthcare are driving growth of the segment. Chronic wounds are treated by often removing inflamed or dead tissues known as debridement. Instruments such as curettes, tweezers, or scalpels are used to clean the wound by removing dead tissues.
- Hospitals segment accounted for largest revenue share in 2021, owing to the large number of treatment procedures and surgeries performed in hospitals. A large section of patients prefer to visit hospitals for treatment of diseases and wounds, such as surgical wounds, ulcers, and burns.
- Market in North America accounted for largest revenue share in 2021, which can be attributed to development and innovation in advanced wound care products. Rising prevalence of acute wounds and increasing costs of medical treatments associated with diabetic foot ulcers are driving growth of the advanced wound care market in this region.
- Companies profiled in the global market report include 3M, Smith+Nephew, ConvaTec Group PLC, Coloplast Group, Molnlycke Health Care AB, Paul Hartmann AG, B. Braun Melsungen AG, Organogenesis Inc., Medtronic, and DermaRite Industries, LLC.
For this report, Reports and Data has segmented the global advanced wound care market based on product, wound type, end-use, and region:
Product Outlook (Revenue, USD Billion; 2019–2030)
- Infection Management
- Silver Wound Dressings
- Non-silver Wound Dressings
- Collagen Dressings
- Exudate Management
- Hydrocolloids Dressings
- Foam Dressings
- Alginate Dressings
- Hydrogel Dressings
- Active Wound Care
- Skin Substitutes
- Growth Factors
- Devices and Accessories
- NPWT Devices and Accessories
- Debridement Devices and Accessories
- Wound Assessment and Monitoring Devices
- Other Devices and Accessories
- Grafts and Matrices
- Topical Agents
Wound Type Outlook (Revenue, USD Billion; 2019–2030)
- Acute Wounds
- Burns and Traumatic Wounds
- Surgical Wounds
- Chronic Wounds
- Diabetic Foot Ulcers
- Pressure Ulcers
- Venous Legs Ulcers
- Other Wounds
End-use Outlook (Revenue, USD Billion; 2019–2030)
- Hospitals
- Wound Care Centers
- Homecare Settings
Regional Outlook:
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
- Latin America (Brazil, Rest of LATAM)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of the Middle East & Africa)
Some essential purposes of the Advanced Wound Care market research report:
- Vital Developments: Custom investigation provides critical improvements to the Advanced Wound Care market, including R&D, new item shipment, coordinated efforts, development rate, partnerships, joint efforts, and local development of rivals working in the market on a global scale and regional.
- Market Characteristics: The report contains Advanced Wound Care market highlights, income, limit, limit utilization rate, value, net, creation rate, generation, utilization, import, trade, supply, demand, cost, part of the industry in general, CAGR, and gross margin. Likewise, the market report offers an exhaustive investigation of the elements and their most recent patterns, along with Service market fragments and subsections.
- Investigative Tools: This market report incorporates the accurately considered and evaluated information of the major established players and their extension into the Advanced Wound Care market by methods. Systematic tools and methodologies, for example, Porter’s Five Powers Investigation, Possibilities Study, and numerous other statistical investigation methods have been used to analyze the development of the key players working in the Advanced Wound Care market.
- Convincingly, the Advanced Wound Care report will give you an unmistakable perspective on every single market reality without the need to allude to some other research report or source of information. This report will provide all of you with the realities about the past, present, and eventual fate of the Advanced Wound Care market.
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Some Key Highlights from the Report
- In March 2020, Smith+Nephew, the global medical technology company, launched PICO 14 Single Use Negative Pressure Wound Therapy System (sNPWT). PICO 14 requires less user intervention, and it has enhanced pump duration of 14 days. It is built on the features and advantages of previous PICO pumps and is suitable for patients where the risk of Surgical Site Complications (SSCs) and consequences of getting them are high, such as in abdominal surgery, cardiothoracic surgery, and Coronary Artery Bypass Graft Surgery (CABG).
- Infection management segment accounted for largest revenue share in 2021, owing to rising incidence of burn injuries and increasing spending on surgical wounds. Technological advancements in the healthcare sector and improvement in diagnostics are other factors contributing to growth of the segment.
- Chronic wound segment accounted for largest revenue share in 2021, owing to growing prevalence of post-operative surgical wounds. Increasing awareness regarding advanced diagnosis and rapid technological advancements in healthcare are driving growth of the segment. Chronic wounds are treated by often removing inflamed or dead tissues known as debridement. Instruments such as curettes, tweezers, or scalpels are used to clean the wound by removing dead tissues.
- Hospitals segment accounted for largest revenue share in 2021, owing to the large number of treatment procedures and surgeries performed in hospitals. A large section of patients prefer to visit hospitals for treatment of diseases and wounds, such as surgical wounds, ulcers, and burns.
- Market in North America accounted for largest revenue share in 2021, which can be attributed to development and innovation in advanced wound care products. Rising prevalence of acute wounds and increasing costs of medical treatments associated with diabetic foot ulcers are driving growth of the advanced wound care market in this region.
- Companies profiled in the global market report include 3M, Smith+Nephew, ConvaTec Group PLC, Coloplast Group, Molnlycke Health Care AB, Paul Hartmann AG, B. Braun Melsungen AG, Organogenesis Inc., Medtronic, and DermaRite Industries, LLC.
For this report, Reports and Data has segmented the global advanced wound care market based on product, wound type, end-use, and region:
Product Outlook (Revenue, USD Billion; 2019–2030)
- Infection Management
- Silver Wound Dressings
- Non-silver Wound Dressings
- Collagen Dressings
- Exudate Management
- Hydrocolloids Dressings
- Foam Dressings
- Alginate Dressings
- Hydrogel Dressings
- Active Wound Care
- Skin Substitutes
- Growth Factors
- Devices and Accessories
- NPWT Devices and Accessories
- Debridement Devices and Accessories
- Wound Assessment and Monitoring Devices
- Other Devices and Accessories
- Grafts and Matrices
- Topical Agents
Wound Type Outlook (Revenue, USD Billion; 2019–2030)
- Acute Wounds
- Burns and Traumatic Wounds
- Surgical Wounds
- Chronic Wounds
- Diabetic Foot Ulcers
- Pressure Ulcers
- Venous Legs Ulcers
- Other Wounds
End-use Outlook (Revenue, USD Billion; 2019–2030)
- Hospitals
- Wound Care Centers
- Homecare Settings
About Reports and Data
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