Press release
What's driving the Advanced Wound Care Market Growth? Top Players: Medtronic, Beiersdorf, Coloplast, Medline Industries, Inc., Smith & Nephew
Rising geriatric population base that are at high risk of developing chronic wounds will support the demand of advanced wound care products. Rising patient pool suffering from chronic wounds causes significant cost burden on healthcare systems across the globe. The existing and rising cost burden of these chronic wounds is predicted to drive the investments in advance wound care technology rendering significant positive impact on industry growth. However, prohibitive cost of advance wound care products that often undermines treatment affordability will impede the industry growth in foreseeable future.
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Wound dressing was valued at USD 5.4 billion in 2018 and is expected to retain its dominant position in the industry throughout the analysis period. Increasing awareness pertaining to the benefits of advanced wound dressing and its gradually increasing adoption will augment the segment growth. However, traditional wound dressings are still used in developing and underdeveloped regions due to low cost that is expected to impede segment growth to some extent.
Wound therapy devices will witness more than 6% CAGR from 2019 to 2025. Negative pressure wound therapy (NPWT) currently represents lucrative growth opportunity amongst all devices. NPWT effectively treats acute as well as chronic wounds and have several benefits compared to other methods such as early discharge, easier transfer to other healthcare settings, and minimizes the frequency of wound dressing changes. Such advantages will enable NPWT to retain its market share over the forecast period.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
• Medtronic
• Beiersdorf
• Coloplast
• Medline Industries, Inc.
• Smith & Nephew
• ConvaTec
• Mölnlycke
• Integra LifeSciences
• B. Braun Medical
• Acelity
• Hollister Incorporated
• Organogenesis
• Derma Sciences
• MPM Medical
Diabetic wounds application segment is forecasted to witness 5.9% CAGR over the analysis period. Diabetic foot ulcers are responsible for significant mortality and morbidity in patients with diabetes mellitus. Prevalence of diabetic foot ulcers is forecasted to grow rapidly over the coming years. Increasing prevalence of obesity, lifestyle changes, and unhealthy eating habits are further expected to support growing prevalence. Rising number of diabetic foot ulcer patients should generate huge demand for advanced wound care products.
Surgical wounds application segment accounted for USD 3.1 billion in 2018 and is estimated to dominate the industry throughout the analysis period. Surgical wounds extend the hospital stay, cause huge economic burden and significantly hamper quality of life. Increasing number surgeries due to trauma, accidents and rising prevalence of chronic diseases will spur the market over forecast period.
Hospital segment accounted for USD 4.1 billion in 2018. Significant number of patients suffering from chronic and acute wounds are treated in hospitals. Moreover, as the hospitals are well equipped with the infrastructure required for surgical treatments, most of the surgical treatments are conducted in hospital settings. This further supports the demand of advanced wound care products to treat surgical wounds and infections.
Home care segment estimated to witness 6.9% CAGR from 2019 to 2025. Aging demographics and rising healthcare cost are predicted to shift preference from hospital to home care. Advantages associated with home care settings such as greater comfort for patient, reduced chances of hospital acquired infections and cost benefits will drive segment growth over the analysis period.
U.S. advanced wound care market accounted for USD 3.7 billion in 2018 and is estimated to show lucrative growth over the forecast period due to rising number of surgical procedures and high awareness about wound care. Increasing incidences of chronic diseases such as diabetes and consequent foot ulcers will drive the regional demand. Unhealthy eating habits, sedentary lifestyle further expected to boost prevalence of chronic diseases rendering positive impact on industry growth in coming years.
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Advanced Wound Care Market, by Application
1 Diabetic Wounds
2 Skin Burn Wounds
3 Pressure Wounds
4 Surgical Wounds
5 Venous Legs Ulcers
Advanced Wound Care Market, by End-use
1 Hospitals
2 Homecare Settings
Chapter 3. Advanced Wound Care Industry Insights
3.1. Industry segmentation
3.2. Industry landscape, 2014 - 2025
3.3. Industry impact forces
3.3.1. Growth drivers
3.3.1.1. Increasing incidences of chronic diseases
3.3.1.2. Technological advancement in wound care industry in developed region
3.3.1.3. Growing geriatric population base worldwide
3.3.1.4. Increasing number of surgical procedures
3.3.2. Industry pitfalls & challenges
3.3.2.1. Prohibitive cost of advanced wound care treatment
Chapter 5. Advanced Wound Care Market, By Application
5.1. Advanced wound care market share, by application, 2018 & 2025
5.2. Diabetic wounds
5.2.1. Market size, by region, 2014 - 2025 (USD Million)
5.3. Skin burns
5.3.1. Market size, by region, 2014 - 2025 (USD Million)
5.4. Pressure wounds
5.4.1. Market size, by region, 2014 - 2025 (USD Million)
5.5. Surgical wounds
5.5.1. Market size, by region, 2014 - 2025 (USD Million)
5.6. Venous legs ulcers
5.6.1. Market size, by region, 2014 - 2025 (USD Million)
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Chapter 6. Advanced Wound Care Market, By End-Use
6.1. Advanced wound care market share, by end-use, 2018 & 2025
6.2. Hospitals
6.2.1. Market size, by region, 2014 - 2025 (USD Million)
6.3. Homecare settings
6.3.1. Market size, by region, 2014 - 2025 (USD Million)
Data Tables
TABLE 1. Advanced wound care industry 360º synopsis, 2014 – 2025
TABLE 2. Global advanced wound care market, 2014 – 2025 (USD Million)
TABLE 3. Global advanced wound care market, by product, 2014 – 2025 (USD Million)
TABLE 4. Global advanced wound care market, by application, 2014 – 2025 (USD Million)
TABLE 5. Global advanced wound care market, by end-use, 2014 – 2025 (USD Million)
TABLE 6. Global advanced wound care market, by region, 2014 – 2025 (USD Million)
TABLE 7. Wound dressings market by region, 2014 – 2025 (USD Million)
TABLE 8. Antimicrobial dressing market by region, 2014 – 2025 (USD Million)
TABLE 9. Alginate Dressing market by region, 2014 – 2025 (USD Million)
TABLE 10. Hydrogel market by region, 2014 – 2025 (USD Million)
Global Market Insights Inc. is a global market research and management consulting company catering to leading corporations, non-profit organizations, universities and government institutions. Our main goal is to assist and partner organizations to make lasting strategic improvements and realize growth targets. Our industry research reports are designed to provide granular quantitative information, combined with key industry insights, aimed at assisting sustainable organizational development.
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