The Advanced Wound Care Market Size was valued at USD 10.8 billion in 2023 and is expected to reach USD 15.7 billion by 2031, and grow at a CAGR of 4.8% over the forecast period 2024-2031.
The Global Advanced Wound Care Market will be strongly growing over the forecast period due to chronic wounds have become more widespread over the previous decade as the world's senior population, diabetes prevalence, and obesity rates have all increased. Obesity and diabetes increased the rate of wounds and its complications, such as ulcers, surgical wounds, and infections that require treatment. Therefore, advanced wound care will be introduced on the market.
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Diabetic foot ulcers, which are common in diabetic patients, are treated by advanced wound care products. For instance, according to ScienceDirect, diabetic foot ulcers may affect more than 25.0% of the diabetic population and may lead to the amputation of the foot in 20.o% of patients. Therefore, the use of innovative wound care products is expected to be increased as a result of an increasing number of diabetics.
DRIVERS
The market's growth rate will be driven by an increase in the number of diseases and conditions that affect wound healing capacity.
The number of hospital emergency room visits for wounds is growing
The demand for advanced wound care will be further increased by the rapid increase in hospital visits to treat wounds. Increasing healthcare expenditure to provide improved care for patients and a high number of surgical procedures carried out in hospitals will speed up the growth of the hospital sector. In addition, demand for improved wound care is increasing as a result of an increase in the number of hospitals acquired pressure ulcers, which has also boosted the value of this sector.
RESTRAINTS
Advanced wound care products like dressings are normally updated
Substantial costs associated with advance wound care products.
The market growth will be hampered by high costs linked to advanced wound care products. The major challenge for the advanced wound care market will also be risks linked to use of advanced wound care products and a lack of awareness. However, market growth will be hampered and hindered in the forecast period by adverse conditions as a result of COVID 19 infection and increasing competition from other companies.
OPPORTUNITIES
The potential for growth of the developing economies
Growth in R&D activities
Opportunities for growth in the advanced wound care market will arise as a result of increased R&D activity and positive government policies related to healthcare infrastructure. In addition, the growth rate of the advanced wound care market will continue to increase as a result of an increased government investment in technology development and growing applications.
CHALLENGES
Issues of coverage and affordability for insurance
Access to these essential services may be restricted by insurance coverage that does not fully cover advanced wound care treatment. Patients may be unable to pay for the care they require, which can have a negative effect on their healing process and health outcomes if comprehensive coverage is not in place. This situation could be improved through better insurance policies.
A number of global markets, including the advanced wound care market, have been significantly affected by the Russia Ukraine crisis. The conflict has disrupted the global economic recovery from the COVID-19 pandemic, at least in the short term, affecting economic sanctions on a number of countries, causing a surge in commodity prices, leading to supply chain disruptions. These factors have affected many global markets, including the Advanced Wound Care Market, in terms of price increases within goods and services. The market is projected to increase from $9.47 billion in 2022 to $10.14 billion by 2023, with an annual growth rate of 7.1% In spite of these challenges, the market is expected to reach $13.12 billion by 2027 at a compound annual growth rate of 6.7%.
Advanced wound care is a treatment of chronic or complicated wounds using specialized products that offer benefits such as regulating body temperature, infection protection, removal of dead tissue, scar prevention and pain relief in dressing changes. The demand for advanced wound care products is increasing due to an increase in road accidents, trauma and burns. For instance, the United States experienced 31,785 traffic-related fatalities in 2022, and there were 450,000 major burn injuries annually. Globally, injuries, both accidental and from violence, result in approximately 4.4 million deaths each year, accounting for nearly 8% of all fatalities. The critical need for specialised wound care solutions to facilitate the healing process is highlighted in these cases.
Due to the current economic slowdown, a wide range of impacts are felt in the market for improved wound care. Due to a number of factors, the market is projected to grow in spite of these difficulties. The report estimates that by 2023, with a forecasted growth rate of 15.0% and an estimated value of 23.78 billion in 2028, the Global Advanced Wound Care Products Market is expected to reach 11.79 billion USD.
But there are some challenges on the market which could be aggravated by a slowdown in economic growth. A major barrier to their adoption is the high costs associated with advanced wound treatment devices and therapies. The cost of a negative pressure wound therapy pump in the United States is approximately USD 90, versus about USD 3 per wound dressing. Although NPWT is more cost effective in the long term than traditional wound dressing, initially higher costs compared to conventional wound dressing are making it less accessible particularly in emerging countries where reimbursement policies for such advanced products are limited. This restriction has an impact on the adoption of advanced wound care products, as a significant proportion of the cost of treatment in these regions is out of pocket, leading to a preference for traditional wound care products.
By Product
Moist
Foam Dressings
Hydrocolloid Dressings
Film Dressings
Alginate Dressings
Hydrogel Dressings
Collagen Dressings
Other Advanced Dressings
Antimicrobial
Silver
Non-silver
Active
Biomaterials
Skin-substitute
Based on product, the moist wound care segment accounted for 71.13% of revenues in 2023. This dominance can be attributed to an increasing number of wound cases worldwide as well as a growing number of surgical operations. Moreover, according to AHA Journals, approximately, 40,001 children undergo congenital heart surgery in the U.S. Advanced wound care products help to heal such wounds quickly as these operations take time for healing, thus helping the market of advanced wound care impel during the forecast period.
By Application
Chronic Wounds
Diabetic Foot Ulcers
Pressure Ulcers
Venous Leg Ulcers
Other Chronic Wounds
Acute Wounds
Surgical & Traumatic Wounds
Burns
In terms of application, chronic wounds will be the largest revenue contributor in 2023. The growth of this segment is projected to be driven by an increase in diabetic foot ulcers, venacular pressure ulcers and others with recurrent wounds. For example, more than 2.5 million people in the United States develop pressure ulcers every year, according to the Agency for Health Research and Quality. Likewise, according to NCBI the incidence of pressure ulcers can range from 4% to 38% in a hospital setting. In addition, according to CDC’s, in 2022, an estimated 37.3 million people, i.e., 11.3% of the total U.S. population, had diabetes.
By End-use
Hospitals
Specialty Clinics
Home Healthcare
Others
The hospital segment accounted for the largest revenue share of 45.19% in 2023, based on end use. An increase in surgical procedures, as well as an increase in the number of hospital admissions, contributed to this segment's growth. Indeed, the number of hospital admissions in Australia has increased, as reported by the Australian Institute on Health and Welfare. For example, in Australia, 11 million people were taken to hospital in 2022. Therefore, the market is expected to grow during the forecast period as a result of an increase in hospital numbers and hospitalisation rates. Similarly, the market is also benefiting from an increasing number of surgical procedures around the world.
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North America dominated the market. Adequate healthcare infrastructure and an increasing number of surgical procedures can be a reason for this dominance with a revenue share of 45.43% in 2023. For example, in the United States, approximately 23.6 million people underwent minimally invasive cosmetic surgery in 2022, according to the American Society of Plastic Surgeons. Therefore, advanced wound care products have become more and more common for the prevention of infections at sites of surgery. Moreover, the market is expected to be driven by an increase in accident incidences such as road accidents, burns and trauma events across the region.
Asia Pacific is expected to grow significantly at a compound annual growth rate during the forecast period. The presence of key players, the growing prevalence of COPD and rising healthcare costs are factors that contribute to this. For instance, healthcare spending in the Asia Pacific region is set to increase 9.9% by 2024 according to a report from Insurance Asia. The growth of this segment is expected to be driven by these factors during the forecast period. In addition, the Indian market is expected to grow at a high compound annual growth rate over the forecast period. In 2023, China accounted for the largest share of the Asia Pacific market due to the growing prevalence of diseases and the rising elderly population are key drivers for market growth.
REGIONAL COVERAGE:
North America
US
Canada
Mexico
Europe
Eastern Europe
Poland
Romania
Hungary
Turkey
Rest of Eastern Europe
Western Europe
Germany
France
UK
Italy
Spain
Netherlands
Switzerland
Austria
Rest of Western Europe
Asia Pacific
China
India
Japan
South Korea
Vietnam
Singapore
Australia
Rest of Asia Pacific
Middle East & Africa
Middle East
UAE
Egypt
Saudi Arabia
Qatar
Rest of the Middle East
Africa
Nigeria
South Africa
Rest of Africa
Latin America
Brazil
Argentina
Colombia
Rest of Latin America
The Key Players are Mölnlycke Health Care AB, ConvaTec Group PLC, Coloplast Corp, Medtronic, 3M, Derma Sciences Inc, Medline Industries, Inc., Smith & Nephew PLC, Baxter, and other players.
In October 2023, DuPont has launched a novel soft skin adhesive (SSA) DuPont Liveo MG 7-9960 that boasts higher adhesion and lower cyclic silicone. This advanced adhesive has been specifically designed for use in wound care dressings and medical devices to be placed on the skin, which is able to extend wear duration and remove easily.
In June 2023, In the German market, JeNa Cell is introducing epicite balancing wound dressing. For the management of chronic wounds with low to medium exudation, including soft tissue lesions, diabetic foot ulcers, venous leg ulcers, and arterial leg ulcers, the dressing is particularly well suited and adapted.
In October 2022, A new line of wound dressing, "Theruptor Novo", has been introduced by Healthium Medtech. For the treatment of persistent sores such as diabetic foot ulcers and leg ulcers
| Report Attributes | Details |
| Market Size in 2023 | US$ 10.8 Bn |
| Market Size by 2031 | US$ 15.7 Bn |
| CAGR | CAGR of 4.8% From 2024 to 2031 |
| Base Year | 2023 |
| Forecast Period | 2024-2031 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Product (Moist (Foam Dressings, Hydrocolloid Dressings, Film Dressings, Alginate Dressings, Hydrogel Dressings, Collagen Dressings, Other Advanced Dressings), Antimicrobial (Silver, Non-silver), Active (Biomaterials, Skin-substitute)) • By Application (Chronic Wounds (Diabetic Foot Ulcers, Pressure Ulcers, Venous Leg Ulcers, Other), Acute Wounds (Surgical & Traumatic Wounds, Burns)) • By End-use (Hospitals, Specialty Clinics, Home Healthcare, Others) |
| Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia, Rest of Latin America) |
| Company Profiles | Mölnlycke Health Care AB, ConvaTec Group PLC, Coloplast Corp, Medtronic, 3M, Derma Sciences Inc, smith & Nephew PLC, Medline Industries, Inc., Baxter, and other players. |
| Key Drivers | • Advanced wound care products are available • Diabetes is becoming more common, and the senior population is growing. |
| Challenges | • The hazards associated with advanced wound care products, as well as a lack of understanding, • There will be a big issue for the advanced wound care business. |
Ans: Advanced Wound Care Market Size was valued at USD 15.7 billion in 2031.
Ans: CAGR of Advanced Wound Care Market is 4.8% From 2024 to 2031.
Ans: The major players are Mölnlycke Health Care AB, ConvaTec Group PLC, Coloplast Corp, Medtronic, 3M, Derma Sciences Inc, smith & Nephew PLC, Medline Industries, Inc., smith & Nephew PLC, Baxter, and others in the final report.
The market will expand at a faster rate as the prevalence of diseases and ailments that impair wound healing capacity rises.
Advanced wound care products are available
Ans: The market is segmented into three types by Product, by Type, by Application.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Advanced Wound Care Market Segmentation, By Product
8.1 Moist
8.1.1 Foam Dressings
8.1.2 Hydrocolloid Dressings
8.1.3 Film Dressings
8.1.4 Alginate Dressings
8.1.5 Hydrogel Dressings
8.1.6 Collagen Dressings
8.1.7 Other Advanced Dressings
8.2 Antimicrobial
8.2.1 Silver
8.2.2 Non-Silver
8.3 Active
8.3.1 Biomaterials
8.3.2 Skin-substitute
9. Advanced Wound Care Market Segmentation, By Application
9.1 Chronic Wounds
9.1.1 Diabetic Foot Ulcers
9.1.2 Pressure Ulcers
9.1.3 Venous Leg Ulcers
9.1.4 Other
9.2 Acute Wounds
9.2.1 Surgical & Traumatic Wounds
9.2.2 Burns
10. Advanced Wound Care Market Segmentation, By End-use
10.1 Hospitals
10.2 Specialty Clinics
10.3 Home Healthcare
10.4 Others
11. Regional Analysis
11.1 Introduction
11.2 North America
11.2.1 USA
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 UK
11.3.3 France
11.3.4 Italy
11.3.5 Spain
11.3.6 The Netherlands
11.3.7 Rest of Europe
11.4 Asia-Pacific
11.4.1 Japan
11.4.2 South Korea
11.4.3 China
11.4.4 India
11.4.5 Australia
11.4.6 Rest of Asia-Pacific
11.5 The Middle East & Africa
11.5.1 Israel
11.5.2 UAE
11.5.3 South Africa
11.5.4 Rest
11.6 Latin America
11.6.1 Brazil
11.6.2 Argentina
11.6.3 Rest of Latin America
12. Company Profiles
12.1Smith & Nephew PLC
12.1.1 Financial
12.1.2 Products/ Services Offered
12.1.3 SWOT Analysis
12.1.4 The SNS view
12.2 Mölnlycke Health Care AB
12.3 ConvaTec Group PLC
12.4 Baxter
12.5 Coloplast Corp.
12.6 Medtronic
12.7 3M
12.8 Derma Sciences Inc.
12.9 Medline Industries, Inc.
13. Competitive Landscape
13.1 Competitive Benchmarking
13.2 Market Share Analysis
13.3 Recent Developments
14. Conclusion
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