New York, According to a new market research report published by Global Insight Services ” Advanced Wound Care Market is expected to reach US$ XX bn by 2031. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
Wound care management products are bifurcated into traditional wound care and advanced wound care products. Traditional wound care management is more preferred across the globe wherein health practitioners use wound care products like medical tapes, dressings, and bandage rolls to protect the wound from external factors and to prevent bleeding and infections. Advanced wound care products promote a natural healing process, without restraining the wound and comprise the use of foam dressings, alginates, hydrogels, and hydrocolloids. These products ensure beneficial wound healing, optimum oxygen flow, consistent temperature, and protection from external factors.
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Market Players of Global Advanced Wound Care Market
The key players in the global advanced wound care market are 3M (Acelity Inc.), Adynxx, Inc., B Braun Melsungen AG, Coloplast A/S, ConvaTec Group plc, Essity AB (BSN Medical GmbH), Integra Lifesciences (Derma sciences), Investor AB (Mölnlycke Health Care AB), Johnson & Johnson, Medline Industries, Inc., Medtronic plc., Organogenesis Holdings Inc., and Smith & Nephew Plc. among others.
Market Drivers:
Ageing population across the globe
According to the UN Department of Economic and Social Affairs, in 2019, there were 703 million persons aged 65 years or over in the global population. This figure is projected to double to 1.5 billion in 2050. Globally, the share of the population aged 65 years or over increased from 6% in 1990 to 9% in 2019. That proportion is projected to rise further to 16% in 2050, when it is expected that one in six people across the globe will be aged 65 years or over. Such an intense rise in the population will create opportunities for advanced wound care as the wounds heal slowly and require high medical attention in geriatric people. So, in aged people, it becomes difficult to treat wounds owing to the high risk of infection, especially in cases of deep wounds.
Market Opportunities
Growing prevalence of diseases & conditions affecting wound healing capabilities of the patients
Physical health conditions, like acute wounds, chronic wounds, and surgical wounds, have a passive effect on wound healing. The prevalence of acute, chronic, and surgical wounds has raised significantly over the past years, primarily due to the growing global traumatic wounds, an increasing number of surgeries, and the increasing prevalence of conditions like obesity and diabetes. Diabetes and obesity may increase the overall incidence and complexity of wounds like infections, ulcerations (leg or foot ulcers), and chronic wounds, which necessitate treatments (advanced wound management) and incur exorbitant medical expenses.
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Market Segmental Analysis
The global advanced wound care market is segmented into product, wound type, and end users.
Global Advanced Wound Care Market by Product
The various products comprised in the global advanced wound care market are dressings, devices & accessories, grafts & matrices, and topical agents.
Global Advanced Wound Care Market by Wound Type
The various wound type comprised in the global advanced wound care market is surgical & traumatic wounds, diabetic foot ulcers, pressure ulcers, venous leg ulcers, and burns & other wounds.
Global Advanced Wound Care Market by End User
The global advanced wound care market is comprised of various end users such as hospitals and community health service centers.
Geographic Analysis of Global Advanced Wound Care Market
The global advanced wound care market is studied for various key countries of regions such as North America, Europe, Asia Pacific, and the Rest of the World.
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