Advanced Wound Care Market Growing at Rapid CAGR of 8.3% to Garner $12,454 million by 2022 with Leading Industry Players

The demand for advanced wound care products is driven by an inclination towards shorter hospital stays, reduced surgical healthcare costs, and enhanced therapeutic outcomes. Market growth is also supplemented by the risk associated with ineffective wound healing, which has increased the demand for combination dressings. The market is essentially driven by the rise in aging population, upsurge in prevalence of chronic wounds & ulcers, advancements in technology, and an increase in the number of surgeries. However, reluctance in adoption of new technologies and unfavorable reimbursement policies impede market growth. Nonetheless, advancements in moist dressing and optimized physical therapies are set to provide lucrative opportunities for emerging market players.

Advanced Wound Care Market (AWC Market) Report, published by Allied Market Research, forecasts that the global market is expected to garner $12,454 million by 2022, registering a CAGR of 8.3% during the period 2016-2022.Active wound care is projected to be the dominant segment by 2022. North America is estimated to maintain its lead position throughout the forecast period with around two-fifths share in 2015.

Top Industry Players :

• 3M Company
• Smith & Nephew plc
• Coloplast A/S
• Medtronic plc
• Acelity L.P. Inc.
• ConvaTec Healthcare B.S..r.l.
• Mlnlycke Health Care AB
• BSN Medical GmbH
• Alliqua BioMedical Inc.
• Integra LifeSciences Holdings Corporation.

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Major factors that boost the market growth include the change in lifestyle conditions that lead to increased diabetic wounds and pressure ulcers, technological advancements, favorable reimbursement scenario in developed economies, and increase in adoption rate of advanced wound care products. Moreover, there is a positive correlation between aged population and frequent occurrences of severe chronic & surgical wounds. High unmet medical needs and rise in preference for products that enhance therapeutic outcome are anticipated to drive the demand for these products. However, high cost of products and unfavorable reimbursement policies in the emerging countries restrict the market growth.

The therapy devices segment is estimated to lead in 2016 closely followed by exudate management. Therapy devices enhance the healing process with the use of vacuum dressing for acute and chronic wounds; hence, rise in incidences of chronic infections such as diabetic foot ulcers and pressure ulcers are expected to boost the market growth. Active wound care is estimated to grow at the fastest rate due to its low toxicity and biocompatibility characteristics, which facilitate active wound care products as attractive and effective.

The report segments the global advanced wound care market based on type, application, end user, and geography. Based on type, the market is bifurcated into advanced wound closure and advanced wound care. The advanced wound closure sub-segment is further categorized into haemostatic and sealing agents, topical tissue adhesive, and wound closure devices. The advanced wound care sub-segment is divided into moist wound dressings, active wound care, and therapy devices. Active wound care consists of skin substitutes and growth factor products, which are expected to foster market growth in the near future.

Key findings of the Advanced Wound Care Market:

• Therapy device was the leading segment in 2015, and is projected to grow at a CAGR of 4.3% during the forecast period.
• The active wound care segment is estimated to grow at a CAGR of 20.6%.
• The chronic wounds application segment is expected to grow at the fastest CAGR of 8.8%.
• Community center segment is projected to grow at a CAGR of 11.1% in the Asia-Pacific region.
• U.S. was the largest country in 2015, and is projected to maintain its lead position until 2022.
• China and Japan are the major shareholders, jointly accounting for almost two-fifths share of the

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