Report Scope & Overview:
The Advanced wound care market is expected to grow at a 6 % CAGR from USD 10.55 billion in 2022 to USD 16.82 billion in 2030. The growing elderly population, the rising prevalence of diabetes, the high incidence of obesity, and the rising number of surgical procedures around the world are all driving market expansion.
Chronic wounds take longer to heal and cost more to treat. Advanced wound care is becoming more common as a treatment option for chronic wounds. Traditional wound care solutions are being phased out in favour of advanced wound care products, which are more efficient and effective at managing wounds and allowing for speedier healing.
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
Diabetes is becoming more common, and the senior population is growing.
The high price of chronic wound treatments and advanced wound care products may deter people from using them.
In traditional gauzes, which are frequently changed many times each day.
Advanced wound care products like dressings are normally updated
Emerging economies' potential for growth
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.
Impact of COVID-19
The COVID-19 virus has spread to nearly every country on the earth since its discovery in December 2019, causing the World Health Organization (WHO) to declare it a public health emergency. The impact of COVID-19 on the industry has been reported to be unfavourable since a big number of countries adopted lockdown to avoid community transmission of the virus. During the early days of the COVID-19 pandemic, the market faced a short-term disruption due to supply chain disruptions and a decline in non-urgent in-person clinic visits, which had a negative impact. Due to the rapid spread of the coronavirus, some manufacturers have been forced to halt their production and manufacturing processes. The risk of patients contracting COVID-19 infection in hospitals and other healthcare settings hampered market growth.
by Product the therapeutic devices sector may get the most market share. Furthermore, due to an increase in the frequency of chronic conditions such as diabetes and obesity, as well as a rise in demand for novel and advanced wound care products, this category is predicted to develop at the quickest rate during the forecast period.
by Application more revenue can be generated from the chronic wound segment. By end user Due to an increase in the number of operations conducted and a rising number of people preferring to visit hospitals for various instances such as surgical wounds, burns, and ulcers, hospitals accounted for the bulk of the advanced wound care market share. However, due to the availability of better facilities and treatments for wounded patients, the wound care centre category is predicted to grow at the fastest rate.
Diabetic Foot Ulcers
Venous Leg Ulcers
Surgical & Traumatic Wounds
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 other players.
North America held the biggest market share, and this is likely to continue throughout the forecast period. Due to population growth and an increase in the geriatric population, it presents chances for key players in the advanced wound care market. Furthermore, the advanced wound care market in this region is predicted to grow due to an increase in healthcare expenditure and the creation of recommendations.
Rest of Europe
Rest of Asia-Pacific
The Middle East & Africa
Rest of Middle East & Africa
Rest of Latin America
Advanced Wound Care Market Report Scope:
|Market Size in 2022||US$ 10.55 Bn|
|Market Size by 2030||US$ 16.82 Bn|
|CAGR||CAGR of 6 % From 2023 to 2030|
|Report Scope & Coverage||Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook|
|Key Segments||• By Product (Toothbrush, Toothpaste, Dental Accessories)
• By Type (Countertop, Cordless)
• By Application (Home, Dentistry)
|Regional Analysis/Coverage|| North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, 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., smith & Nephew PLC, 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.
Frequently Asked Questions (FAQ) :
Table of Contents
1.1 Market Definition
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.2 Impact on major economies
126.96.36.199 United Kingdom
188.8.131.52 South Korea
184.108.40.206 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Global advanced wound care market Segmentation, by Product
8.1 Foam Dressings
8.2 Hydrocolloid Dressings
8.3 Film Dressings
8.4 Alginate Dressings
8.5 Hydrogel Dressings
8.6 Collagen Dressings
9. Global advanced wound care market Segmentation, by Application
9.1 Chronic Wounds:
9.2 Diabetic Foot Ulcers
9.3 Pressure Ulcers
9.4 Venous Leg Ulcers
9.5 Acute Wounds:
9.6 Surgical & Traumatic Wounds
10. Global advanced wound care market Segmentation, By End-Use
10.2 Specialty Clinics
10.3 Home Healthcare
11. Regional Analysis
11.2 North America
11.3.6 The Netherlands
11.3.7 Rest of Europe
11.4.2 South Korea
11.4.6 Rest of Asia-Pacific
11.5 The Middle East & Africa
11.5.3 South Africa
11.6 Latin America
11.6.3 Rest of Latin America
12. Company Profiles
12.1Smith & Nephew PLC
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
12.5 Coloplast Corp.
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
An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.
Each report that we prepare takes a timeframe of 350-400 business hours for production. Starting from the selection of titles through a couple of in-depth brain storming session to the final QC process before uploading our titles on our website we dedicate around 350 working hours. The titles are selected based on their current market cap and the foreseen CAGR and growth.
The 5 steps process:
Step 1: Secondary Research:
Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.
Step 2: Primary Research
When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data. This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.
We at SNS Insider have divided Primary Research into 2 parts.
Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.
This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.
Part 2: In this part of primary research the data collected via secondary research and the part 1 of the primary research is validated with the interviews from individual consultants and subject matter experts.
Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.
Step 3: Data Bank Validation
Once all the information is collected via primary and secondary sources, we run that information for data validation. At our intelligence centre our research heads track a lot of information related to the market which includes the quarterly reports, the daily stock prices, and other relevant information. Our data bank server gets updated every fortnight and that is how the information which we collected using our primary and secondary information is revalidated in real time.
Step 4: QA/QC Process
After all the data collection and validation our team does a final level of quality check and quality assurance to get rid of any unwanted or undesired mistakes. This might include but not limited to getting rid of the any typos, duplication of numbers or missing of any important information. The people involved in this process include technical content writers, research heads and graphics people. Once this process is completed the title gets uploader on our platform for our clients to read it.
Step 5: Final QC/QA Process:
This is the last process and comes when the client has ordered the study. In this process a final QA/QC is done before the study is emailed to the client. Since we believe in giving our clients a good experience of our research studies, therefore, to make sure that we do not lack at our end in any way humanly possible we do a final round of quality check and then dispatch the study to the client.