Advanced Wound Care Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Advanced Wound Care Market
The Advanced Wound Care market size was valued at USD 11.98 billion in 2023, and the market is now projected to grow from USD 12.62 billion in 2024 to USD 20.33 billion by 2032, exhibiting a CAGR of 6.1% during the forecast period of 2024-2032.
The COVID-19 epidemic forced our health facilities to abandon wound care in favour of attending other essential activities related to the control of the virus. This means that they stopped such services as special clinics as well as taking care for those with injuries. Nonetheless, after this time when everything started getting back to normalcy at least there was more surgery carried out along with increased number (thousands) patients seeking help from experts related wound management techniques which triggered another rise in demand rates on such products among other things including Advanced Wound Care market growth areas within this sector known as advanced wound care unit.
An increase in the number of chronic wounds is the reason why treatment for wounds is in such a high demand. Also, the rise in population of old people who have chronic diseases and an increase in the number of accidents have contributed to the growth of the Advanced Wound Care market share.
Effective treatments sought for chronic wounds like pressure ulcers, diabetic foot ulcers and venous ulcers are urgently required by the worldwide patients. Active wound care products which include biological skin equivalents together with growth factors have been proved in clinical practice. Key players in order to respond to the increased in demand are focusing on introducing novel bioactive products.
Comprehensive Advanced Wound Care Market
The Advanced Wound Care market is growing at an exponential rate due to its market segmentation. These segmentations are methodically segregated by Product Type Analysis, by Indication Analysis, by End User Analysis. The Product Type Analysis includes advanced wound dressings, wound care devices, and active wound care. The Indication Analysis includes diabetic foot ulcers, pressure ulcers, surgical wounds, and others. The End-User Analysis includes hospitals, clinics, homecare settings, and others.
The North America region lead the Advanced Wound Care market by benefitting a market size of USD 5.06 billion in 2023 due to the chronic wounds and rising prevalence of acute and higher treatment costs associated with pressure ulcers, diabetic foot ulcers, and surgical wounds is expected to boost adoption.
The top players in the market play a crucial role in the Healthcare industry assuring industrial prospectus growth and setting market standards. These players include 3M (U.S.), Smith & Nephew (U.K.), Coloplast Corp (Denmark), MiMedx (Georgia), Tissue Regenix (U.S.), ConvaTec Inc. (U.K.), Mölnlycke Health Care AB (Sweden), Derma Sciences Inc. (U.S.), Organogenesis Inc. (U.S.), Integra LifeSciences (U.S.) these market players provide a competitive landscape.
In December 2022, MiMedx Group, Inc expanded its pipeline because it acquired global rights to Turn Therapeutics' sacred ProFoodition platform that’s specific to using it to develop biological drugs for healing wounds and helping patients recover from surgery.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2019-2032
Base Year 2023
Estimated Year 2024
Forecast Period 2024-2032
Historical Period 2019-2022
Growth Rate CAGR of 6.1% from 2024-2032
Unit Value (USD Billion)
Segmentation By Product Type
Advanced Wound Dressings
- Alginate Dressings
- Hydrogel Dressings
- Film Dressings
- Hydrocolloid Dressings
- Antimicrobial Dressings
- Foam Dressings
- Others
Wound Care Devices
- Negative Pressure Wound Therapy (NPWT)
- Hyperbaric Oxygen Therapy (HBOT)
- Extracorporeal Shock Wave Therapy (ESWT)
- Others
Active Wound Care
- Biological Skin Equivalents
- Growth Factors
- Biological Dressings
- Others
By Indication
Diabetic Foot Ulcers
Pressure Ulcers
Surgical Wounds
Others
By End User
Hospitals
Clinics
Homecare Settings
Others
By Geography
North America (By Product Type, By Indication, By End User, By Country)
- U.S. (By Indication)
- Canada (By Indication)
Europe (By Product Type, By Indication, By End User, By Country/Sub-Region)
- Germany (By Indication)
- U.K. (By Indication)
- France (By Indication)
- Italy (By Indication)
- Spain (By Indication)
- Scandinavia (By Indication)
- Rest of Europe (By Indication)
Asia Pacific (By Product Type, By Indication, By End User, By Country/Sub-Region)
- China (By Indication)
- India (By Indication)
- Japan (By Indication)
- Australia (By Indication)
- Southeast Asia (By Indication)
- Rest of Asia Pacific (By Indication)
Latin America (By Product Type, By Indication, By End User, By Country/Sub-Region)
- Brazil (By Indication)
- Mexico (By Indication)
- Rest of Latin America (By Indication)
Middle East & Africa (By Product Type, By Indication, By End User, By Country/Sub-Region)
- GCC (By Indication)
- South Africa (By Indication)
- Rest of the Middle East & Africa (By Indication)
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