Global Advanced Wound Care Market Analysis and Forecast to 2031: By Product (Dressings, Devices & Accessories, Grafts & Matrices, Topical Agents), Wound Type (Surgical & Traumatic Wounds, Diabetic Foot Ulcers, Pressure Ulcers, Venous Leg Ulcers, Burns & O

Global Advanced Wound Care Market Analysis and Forecast to 2031: By Product (Dressings, Devices & Accessories, Grafts & Matrices, Topical Agents), Wound Type (Surgical & Traumatic Wounds, Diabetic Foot Ulcers, Pressure Ulcers, Venous Leg Ulcers, Burns & Other Wounds), End User (Hospitals, Community Health Service Centers) and Region

Global Advanced Wound Care Market is expected to reach $15.5bn by 2031 growing at a CAGR of 5.5% between 2021 and 2031.

Market Overview

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.

Scope of the Report

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 OpportunitiesGrowing 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. Various advanced wound care products, like hydrophilic foam dressings, hydrogels, hydrofibers, and alginates, which can absorb up to 20 times their weight, enable rapid and more effective recovery from these conditions.

Market RestraintsHigh cost of advanced wound care products

The above-average cost of chronic wound treatments and advanced wound care products may negatively affect their adoption, especially in cost-sensitive markets like Asia and the RoW. Patients and physicians in these regions have a preference for less-expensive advanced wound care products. Conversely, with growing awareness regarding the effectiveness of these products and increasing disposable incomes in many of these countries, the adoption of advanced wound care products is likely to increase in the upcoming years. Although these products are more expensive than traditional gauzes, recent studies indicate overall cost savings due to decreased labor costs. Advanced wound care products such as dressings typically are replaced every one to three compared to traditional gauzes that are often changed multiple times per day.

Impact of COVID-19 on Advanced Wound Care Market

The impact of COVID-19 on the industry is observed to be negative as a large number of countries adopted lockdown to restrain community transmission of the COVID-19 infection. The market witnessed a short-term disruption during the initial days of the COVID-19 pandemic due to the supply chain disruptions and a decline in non-urgent in-person clinic visits resulting negatively. Owing to the rapid spread of the COVID-19, several manufacturers in the market have been forced to halt their production and manufacturing operations. The risk of patients contracting COVID-19 infection in hospitals and other healthcare settings hampered the growth of the market. Special care and measures are being taken for needy patients in a controlled environment to combat the COVID-19 pandemic which will restore the industry growth to some extent.

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.

The dressings segment is likely to boost the growth of the market at a constant rate of XX% during the forecast period. The key factors such as increasing spending on chronic and surgical wounds coupled with the rising incidence of burn injuries and technological advancements in dressings are likely to boost the growth of the market.

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.

The surgical & traumatic segment is likely to dominate the market during the forecast period at a CAGR of XX%. The key factors such as the increasing number of surgical procedures coupled with the increasing prevalence of chronic conditions are likely to boost the growth of the market.

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.

The hospitals segment is likely to dominate the market at a constant rate of XX% during the forecast period. The key factors such as a large number of treatment procedures conducted in hospitals and the availability of reimbursement are boosting the growth of the market.

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.

North America is expected to dominate the market during the forecast period. The key factors such as increasing demand for advanced wound treatment options such as advanced wound care products coupled with the increasing prevalence of chronic disorders, increasing healthcare spending, and the highly developed healthcare system in the US and Canada.

Market Players of Global Advanced Wound Care Market

Key Developments in the Global Advanced Wound Care Market

• March 2020: Smith & Nephew plc launched the PICO 14 Single-use NPWT System (NPWT) and dressings in the US.
• January 2020: Conva Tec Group Plc launched ConvaMax, advanced wound dressings which help in managing highly excluding wounds, comprising leg ulcers, surgical wounds, and diabetic foot ulcers.

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