USD 6.7 billion
Global Advanced Wound Care Market Size, Share, Growth Analysis, By Product(Dressings (Foam, Hydrocolloid), By Wound Type(Surgical, Traumatic), By End-User(Hospital, Homecare) - Industry Forecast 2023-2030
Report ID: SQMIG35D2009 | Region: Global | Published Date: November, 2022 | Pages: 157 | Tables: 96 | Figures: 76
Global Advanced Wound Care Market Insights
Global Advanced Wound Care Market size was valued at USD 6.7 billion in 2021 and is poised to grow from USD 7 billion in 2022 to USD 10.8 billion by 2030, growing at a CAGR of 5.4% in the forecast period (2023-2030).
Advanced wound care products are used to treat acute and chronic diseases. The conventional wound care products and solutions are now being replaced by advanced wound care products as they offer instant and effective treatment. The dressings for chronic injuries and surgeries consist of slivers and alginates which are used to keep the wound away from infection. Moreover, biomaterials and skin grafts are used for wounds that cannot heal by themselves. Thus, with the market seeing a rise in new and more advanced products, which is likely to aid the market growth.
The changing demographics in terms of age and the rising preference for value-based services will boost the market growth. The demand for at-home health services is more among the aging population, which increases the demand for healthcare providers. Another factor that affects market growth is government support.
US Advanced Wound Care Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot
Global Market Size
Largest Segment
Surgical
Fastest Growth
Traumatic
Growth Rate
5.4% CAGR
Global Advanced Wound Care Market, 2021-2027 ($ Mn)
Country Share for North America Region- 2021 (%)
Global Advanced Wound Care Markett Size By Wound Type, 2021-2027 ($ Mn)
Global Advanced Wound Care Market Size By Wound Type, 2021-2027 (%)
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Global Advanced Wound Care Market Segmental Analysis
The Global advanced wound care market is segmented by Product (Dressings (Foam, Hydrocolloid, Film, Alginate), NPWT, Debridement Devices, Grafts, Matrices, Topical Agents), By Wound Type (Surgical, Traumatic, Ulcers, Burns), By End User (Hospital, Homecare) &. Based on region Advanced Wound Care Market is categorized into: North America, Europe, Asia-Pacific, South America, and MEA.
Advanced Wound Care Market Analysis by Product
Based on product, the advanced wound care market is divided into dressings, devices & accessories, grafts & matrices, and topical agents.
The dressings segment accounted for the largest proportion of the advanced wound care market in 2020, owing to increased spending on chronic and surgical wounds, an increase in the frequency of burn injuries, and technological advancements in dressings.
Advanced Wound Care Market Analysis by Wound Type
The Surgical and traumatic wounds, diabetic foot ulcers, pressure ulcers, venous leg ulcers, and burns & other wounds are the wound types that the advanced wound care market is divided into. In 2020, surgical and traumatic wounds held the largest share of the advanced wound care market. The growth of this category is being driven by factors such as the increasing number of surgical procedures performed and the rising frequency of chronic illnesses.
Global Advanced Wound Care Market By Wound Type , 2021(%)
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Global Advanced Wound Care Market Regional Insights
North America dominated the market in terms of revenue and market share. Factors such as the rising number of road accidents, sports injuries, and several key players in the region were responsible for this growth. Asia-Pacific provides profitable opportunities for well-established players in the advanced wound care market. The growth of this region is mainly because of rising in the geriatric population. Europe will register significant growth in the future because of better health infrastructure in countries such as Germany, UK, etc.
Global Advanced Wound Care Market By Geography, 2021 - 2027
- Largest
- Fastest
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Global Advanced Wound Care Market Dynamics
Advanced Wound Care Market Driver
- The global advanced wound care market is driven by traumatic wounds, worldwide geriatric population, rising number of surgeries, and increasing cases of diabetes and obesity. diabetes and obesity play an important role in developing wound complexity thus, boosting the demand for advanced wound care in the global market.
- As technology advances, new product innovations are taking place in the market. There are smart innovations such as smart wound dressings with sensors built within them, which emit light or glow when an infection starts to set in. Research on this and more such innovations has been underway. Apart from this, there are several other better and effective product innovations in the market. For example, In April 2017, Convatec has launched Foam Lite, a light, flexible silicone foam dressing for managing low to non-exuding chronic and acute wounds. Hence, such factors are likely to positively influence the market's growth during the forecast period.
- Technological advancement is a trend that is fueling growth. Advanced wound care products are in demand due to chronic disorders and rising numbers of surgical procedures. Well-established firms are creating novel technologically advanced products. For instance, in March 2020, Smith & Nephew announced the launch of the PICO 14 single-use negative pressure wound therapy system. Thus, novel solutions developed by the company will spur growth in the market while also tending to the needs of the customers.
Advanced Wound Care Market Restraint
- One of the key restraining factors identified for this market is the high cost of treating chronic wounds, which has a substantial impact on the adoption of wound care solutions. Delayed diagnosis in emerging nations such as China, Brazil, and India, which increases treatment expenses, may also lead to a poor acceptance rate among consumers.
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Global Advanced Wound Care Market Competitive Landscape
As the market is semi consolidated, the market penetration will rise in the future. Along with this collaborations, and mergers & acquisitions activities are increasing in the market, which is expected to make penetration easier. For example, in April 2019, Smith and Nephew PLC acquired Osiris Therapeutics, Inc., intending to accelerate the development of its advanced wound management product portfolio. The initiative will expand its customer base.
Advanced Wound Care Market Top Players Company Profiles
- Smith & Nephewplc
- Mölnlycke Health Care AB
- Coloplast A/S
- 3M Company
- ConvaTec Group Plc
- Medtronic plc
- Integra LifeSciences Corporation
- BSN medical GmbH
- Acelity L.P. Inc.
- B. Braun Melsungen AG
- Organogenesis Inc.
- Hollister Incorporated
- Ethicon Inc. (Johnson & Johnson)
- Argentum Medical LLC
- Medline Industries, Inc.
- PAUL HARTMANN AG
- Derma Sciences Inc.
- Urgo Medical
- Systagenix Wound Management Limited
- BioD LLC
Advanced Wound Care Market Recent Developments
- In March 2020, Smith and Nephew Plc. (UK) launched PICO 14 Single-use NPWT device and dressings in the US.
- In February 2020, Smith and Nephew Plc. (UK) opened a new high-technology manufacturing facility in Batu Kawan Industrial Park in Penang, Malaysia.
- In January 2020, ConvaTec Group launched convamax, a super absorber wound dressing to expand its product portfolio in the wound management market.
Global Advanced Wound Care Key Market Trends
- Bioactive therapies are used for last-stage wounds and will further foster growth in the market. Key companies in the market are using nanofiber, allograft, xenograft, and cell-based therapies to fulfill the growing demand for urgent and effective wound management. The benefits of bioactive therapies such as reduction in treatment time, cost of the wound are gaining popularity among the consumers.
- Another trend leading a positive market growth is the increased funding and investment in research and development of the market. Leading advanced wound care market players are investing immensely in research and development. These R&D activities are aimed at the development of technologically advanced products. High research and development activities in the industry will lead to the development of superior wound care products.
Global Advanced Wound Care Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research has identified that the advanced wound care business is very dynamic, and significant developments have happened in recent years. The acquisition of minor firms by larger players is a major trend in this market. Small businesses have significant R&D capabilities but lack the financial resources to seek approvals and take items to market. Large players with strong financial positions are more likely to purchase these small players and explore their creative technologies to build advanced products.
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
| Report Metric | Details |
|---|---|
| Market size value in 2021 | USD 6.7 billion |
| Market size value in 2030 | USD 7 billion |
| Growth Rate | 5.4% |
| Base year | 2021 |
| Forecast period | 2023-2030 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Advanced Wound Care Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Advanced Wound Care Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Advanced Wound Care Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Advanced Wound Care Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Advanced Wound Care Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Advanced Wound Care Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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