Latin America Advanced Wound Care Market Report and Forecast 2023-2028

Latin America Advanced Wound Care Market Report and Forecast 2023-2028

Market Outlook

According to the report by Expert Market Research (EMR), the Latin America advanced wound care market attained a value of USD 535.78 million in 2022. Aided by the increased prevalence of chronic injuries, the market is projected to further grow at a CAGR of 5.50% between 2023 and 2028 to reach a value of USD 730.9 million by 2028.

Advanced wound care comprises of products as well as therapies that are used to treat wounds that have not responded or shown reasonable improvement with conventional treatment. Acute and chronic wounds, such as burns, ulcers, and post-operative wounds, often require advanced wound care. Cutting-edge wound care often uses hydrogels, alginates, hydrocolloids, and film and foam dressings, to keep the wound moist and encourage speedy healing. Traditional methods for treating chronic wounds are evolving to include advanced wound care, due to their effectiveness and efficiency in treating wounds by promoting faster healing.

Surgical and chronic injuries are occurring more frequently in countries in Latin America as a result of the rise in prevalence of complex procedures and chronic diseases, which are accelerating the Latin America advanced wound care market growth. Due to factors including an ageing population, increase in traumatic wounds, an rising number of surgeries, and an increase in the frequency of conditions like obesity and diabetes, there has been an increase in the prevalence of acute, chronic, and surgical wounds during the past few years.

The frequency and complexity of wounds, including infections, leg and foot ulcers, and chronic wounds, can both be considerably increased by diabetes and obesity. Advanced wound management is often required for these wounds, which is accelerating the expansion of the advanced wound care market in Latin America. Improvements in healthcare infrastructure in countries in Latin America are resulting in an increase in hospital visits for wound treatment, surging the demand for advanced wound care. The prevalence of pressure ulcers in hospitals is increasing, bolstering the demand for better wound care and the Latin America advanced wound care market.

The increasing efforts of various governments in the region to raise public awareness will also likely have a significant impact on the growth rate of the advanced wound care market in Latin America. Development of technology is another important aspect contributing to the expansion of the market, along with the use of advanced materials such as alginates and silver-containing advanced wound care solutions. Severe wounds that can't heal or on their own are treated using skin grafts and biomaterials, which is increasing the use of advanced wound care products, thus aiding the Latin America advanced wound care market.

Market Segmentation

The market can be divided on the basis of product, wound type, end use, and country.

Market Breakup by Product

• Infection Management
• Exudate Management
• Active Wound Care
• Therapy Devices

Market Breakup by Wound Type

• Chronic Wounds
• Active Wounds

Market Breakup by End Use

• Hospitals and Clinics
• Community Health Service Centres

Market Breakup by Country

• Brazil
• Argentina
• Mexico
• Others

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the Latin America advanced wound care market companies. Some of the major key players explored in the report by Expert Market Research are as follows:

• Smith & Nephew Plc
• Essity Aktiebolag
• Coloplast A/S
• ConvaTec Group Plc
• Mölnlycke Health Care AB
• 3M Company
• Paul Hartmann AG
• Others

*We at Expert Market Research always strive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.