Advanced Wound Care Market Growing at 4+% CAGR to Reach US$ 11,564.6 Mn by 2025

The Global Advanced Wound Care Market is expected to reach US$ 11,564.6 Mn in 2025 from US$ 8,181.9 Mn in 2017. The market is estimated to grow with a CAGR of 4.5% from 2016-2025.

The growth of the advanced wound care market is primarily attributed to the rise in the geriatric population over the years. The elderly population is defined as group of people aged 65 and over. Population ageing is poised to become one of the most significant social transformations of the twenty-first century.

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According to the report of United Nations, in 2017, there were approximately 962 million people aged 60 or over across the globe, that consists of 13 per cent of the global population. Although, the lack of the reimbursement is hampering the market growth. The reimbursement offered for the anti-microbial dressings is a major concern.

The current system of coverage and reimbursement in many cases has resulted in severe underpayment to providers for the appropriate, best-practice care of complex and chronic wounds. In addition, the increasing medical tourism in emerging nations are likely to have a positive impact on the growth of the market in the coming years.

Global advanced wound care market, based on the product was segmented into dressings, advanced wound devices, and advanced wound bioactive. In 2017, the dressings segment held the largest share of the market, by product.

This segment is also expected to dominate due to the increased demand for dressings and it is also expected to grow at the fastest rate during the coming years since the dressings provide better healing properties. Advanced wound care treatments revolve around the principle of moisture therapy, which provides moisture to the wound site to encourage natural cell repair while giving the wound room to breathe.

Global advanced wound care market, based on the wound type was segmented into ulcers, burns, trauma, surgical, and diabetic foot. In 2017, the surgical segment held the largest share of the market, by wound type.

In addition, the surgical wound is also expected to grow at the fastest rate during the coming years owing to factors such as, rising number of surgical procedures, and increasing wounds due to the surgical procedures.

Some of the major primary and secondary sources includes:
o World Health Organization (WHO)
o Center for Biologics Evaluation and Research
o International Society of Aesthetic Plastic Surgery
o Agency for Healthcare Research and Quality
o National Programmed for Prevention & Management of Burn Injuries.

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