Advanced Wound Care Market Report

Complex wounds that do not heal with standard care may require advanced wound care in an environment that allows for full medical management, monitoring by wound care specialists, and a longer recovery period. Advanced wound care is an emerging sector that offers devices and solutions to treat acute and chronic wounds. Advanced wound treatment can treat wounds caused by diabetes, pressure ulcers, venous diseases and others. The technological advancements in advanced wound care products are expected to have a significant impact on growth of the Advanced Wound Care market. It is expected to grow exponentially in the developing countries in the upcoming years. The growth of the global advanced wound care market is driven by various factors such as rise in geriatric population, traumatic wounds, overall increase in number of surgical procedures carried out, etc.

The growth of the market is driven by various factors such as rise in geriatric population, traumatic wounds, overall increase in number of surgical procedures carried out, etc. As the affordability and access to surgical care increases worldwide, the number of surgical procedures performed is expected to increase. With an increase in the prevalence of chronic diseases and an increase in surgical procedures, the incidence of surgical wounds and associated infections has increased. This will increase the demand for advanced wound care treatment procedures. Surgical procedures are normally associated with wound infections, excessive bleeding, or tissue damage. Advanced wound care products, such as honey dressings, are rich in antimicrobial agents and have emerged as a viable option for reducing bacterial infection and improving the healing process. The general acceptance of various advanced wound care products during and after surgical procedures is increasing due to the proven benefits of these products and the growing awareness of their effectiveness. These factors are expected to further boost the growth of the market in the upcoming years.

The advanced wound care market is expected to have growing new growth opportunities especially in the developing nations. This is due to improvement of healthcare infrastructure, low regulatory barriers and a business-friendly atmosphere. This is the reason why various players in the market are working to increase their presence in these regions. Emerging markets such as India, Malaysia, South Korea, Vietnam and other developing nations are expected to offer significant growth opportunities to major market players in the market.

The market is expected to have a major restraint like high cost of advanced wound treatment. The high costs of most chronic wound treatments and advanced wound care products could negatively impact their adoption, especially in cost-sensitive markets such as Asia-Pacific and RoW. Patients and doctors in these regions are opting for more affordable advanced wound care products. These factors are expected to restrain the growth of the market over the forecast period.  

The major growth challenge for the market is high cost of advanced wound care service in low-income nations. Likewise, stringent regulations for advanced wound care is expected to be major growth challenge for the market.

The report provides in-depth analysis of global Advanced Wound Care market, market size, and compound annual growth rate (CAGR) for the forecast period of 2022-2028, considering 2021 as the base year. With increasing demand for advanced wound care services in various applications has led the increasing demand for  market and is expected to witness the growth at a specific CAGR from 2021-2028. 

The global Advanced Wound Care market comprises of different market segments like product, type, application, end-user, and geography.

On the basis of product, the Advanced Wound Care market includes the key segments of 

The dressings segment is expected to grow at the highest rate for the projected period, mainly due to rise in number of healthcare associated infections and growing patient awareness. Factors such as the increasing cases of diabetic ulcers, venous ulcers and pressure ulcers are expected to drive the growth of this segment. Also products like grafts and matrices and topical agents are anticipated to witness high growth over the estimated time period.

By type, the Advanced Wound Care market includes segments like 

The surgical and traumatic wounds segment is anticipated to lead the market over the forecast period. The growth in surgical and traumatic wounds segment is driven by various factors like the rise in cases of various surgical sites infections and also an overall increase in various surgical procedures around the globe. On the other hand, segments such as diabetic foot ulcers, pressure ulcers and venous leg ulcers are anticipated to witness growth at a high rate over the estimated time period. This is due to rise in cases of diabetic foot ulcers, pressure ulcers, venous leg ulcers in developing countries.

The Advanced Wound Care market finds key applications in  

The chronic wounds segment is anticipated to dominate the market over the forecast period. This is due to a rise in cases of diabetic foot ulcers, pressure ulcers, and venous leg ulcers among the general population especially in developing nations. Along with this, a rise in healthcare expenditure and improvement in the healthcare infrastructure in developing nations is expected to propel growth for the chronic wound management application. Also, acute wounds segment is expected to grow at a high rate over the forecast period due to increased incidences of surgical wounds. Also, the launch of new advanced products which would be more efficient in treating acute wounds is expected to boost the growth of the segment.

The Advanced Wound Care market has major end users like 

The hospitals and clinics segment is anticipated to lead the market over the forecast period. The increasing number of hospitalizations for chronic wounds (such as pressure ulcers, diabetic foot ulcers and venous leg ulcers) and the increasing incidence of pressure ulcers and related infections are the main drivers for the growth of the segment. Hospitals and clinics provide advanced care to their patients and offer reimbursements at some point of surgeries, accordingly witnessing exceptional growth. Also, there is a huge rise in number of multispecialty hospitals which are dedicated towards treatment of wounds. There is a huge rise in investment in the healthcare infrastructure which has led to improvement in services provided by hospitals and clinics. The home-care settings is also expected to grow at a high rate over the projection period due to rising geriatric population and rise in demand for wound care services in home settings.

The global Advanced Wound Care market is studied for the following regions 

North America is anticipated to lead in the market over the forecast period. The region is likely to have highest growth due to increase in per-capita healthcare expenditure Also, there is a rise in cases of diabetic foot ulcers, pressure ulcers, venous leg ulcers in countries like Canada and the US which has propelled the demand for treatment of these wounds. The growing number of acquisitions and the presence of many progressive wound care companies in North America is supporting the market growth in this region. Shifting demographics, increased patient awareness, and development of advanced wound care products are also supporting the growth of the market. Europe is expected to grow at a healthy rate due to well-developed healthcare infrastructure along with increased healthcare spending. Asia-Pacific is expected to grow at a higher rate due to rise in cases of diabetes-related issues like foot ulcers that requires efficient wound care.

Axiom MRC provides a 360 degree analysis of micro and macro-economic factors on the global Advanced Wound Care market. In addition, complete analysis of changes on the global Advanced Wound Care market expenditure, economic and international policies on supply and demand side is provided in this exclusive report. The report also studies the impact of pandemic on global economies, international trade, business investments, GDP and marketing strategies of key players present in the market. 

The pandemic has negatively impacted most of the sectors. Manufacturers of advanced wound care products have faced disruption due to the COVID-19 lockdowns and travel restrictions. Manufacturing of advanced wound care products has been significantly impacted as major economies have been severely affected due to the spread of COVID-19 infections. Even though the impact of COVID-19 on the Advanced Wound Care market is moderate compared to other medical device markets, the timely development and implementation of contingency plans for business operations and the main imported raw materials are crucial. In the post-COVID-19 world, it is expected that new growth opportunities would be available and the market is anticipated to have an emerging demand in upcoming years.

The competitive landscape analysis of Advanced Wound Care market is majorly focused on expanding the global growth of automated liquid handling technology sector with new product innovation, business expansion, increasing presence of range of manufacturers operating in Automated Liquid Handling Technology industry has led the growing demand for the market.  Besides, the market offers range of products in different applications to fulfil the required demand of consumer which is further contributing healthy growth in the market.  

The key players studied in market are 

May 2020: Integra LifeSciences had announced a positive clinical result for Integra Bilayer Wound Matrix (IBWM). This product is part of the company’s regenerative technology portfolio, which used collagen and amniotic products.

March 2020: Smith & Nephew plc. had launched the PICO 14 Single-use NPWT System (NPWT) and dressing in the US.