Advanced Wound Care Market - Industry Share Analysis, Key Players and Future Prospect

The Research Report on "Advanced Wound Care Market by Product (Dressings (Foam, Hydrocolloid, Film, Alginate), NPWT, Debridement Devices, Grafts, Matrices, Topical Agents), Wound Type (Surgical, Traumatic, Ulcers, Burns), End User (Hospital, Homecare) (2022 - 2026), is projected to reach USD 12.8 billion by 2026 from USD 9.4 billion in 2021, at a CAGR of 6.2%.

Growing prevalence of diseases & conditions affecting wound healing capabilities;

Physical health conditions, such as acute wounds, chronic wounds, and surgical wounds, have a negative effect on wound healing. The prevalence of acute, chronic, and surgical wounds has increased significantly over the past decade, primarily due to the growing global geriatric population, rising traumatic wounds, increasing number of surgeries, and the increasing prevalence of conditions like obesity and diabetes. Diabetes and obesity can increase the overall incidence and complexity of wounds such as infections, ulcerations (leg or foot ulcers), and chronic wounds, which require treatments (advanced wound management) and incur exorbitant medical expenses.

Various advanced wound care products, such as hydrophilic foam dressings, hydrogels, hydrofibers, and alginates, which can absorb up to 20 times their weight, enable rapid and more effective recovery from these conditions. Generally, abscesses can be drained by incisions. As incisions on the plantar surface heal slowly, this leads to a lengthier period of immobilization. This will stimulate the demand for advanced wound management for drainage and faster healing of wounds, which will boost the demand for advanced wound care products.

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Industry Segmentation In Detailed:

"In 2020, dressings segment accounted for the largest share of the advanced wound care market, by product"

The advanced wound care market is segmented into dressings, devices & accessories, grafts & matrices, and topical agents based on products. The dressings segment accounted for the largest share of the advanced wound care market in 2020, mainly due to the increasing incidence of diabetes, growing patient awareness, and the rising occurrence of HAIs.

"In 2020, surgical & traumatic wounds segment accounted for the largest share in the market, by wound type"

The advanced wound care market is segmented into surgical & traumatic wounds, diabetic foot ulcers, pressure ulcers, venous leg ulcers, and burns & other wounds by wound type. In 2020, the surgical & traumatic wounds segment accounted for largest share of the advanced wound care market. The increasing prevalence of chronic conditions coupled with rising rate of SSIs is driving the growth of this segment.

"In 2020, hospitals, ASCs, and wound care centers segment accounted for the largest share in the market, by end user"

The advanced wound care market is segmented into hospitals, ASCs, and wound care centers; home care settings; and other end users. In 2020, the hospitals, ASCs, and wound care centers segment accounted for the largest share of the advanced wound care market. Growth in this segment is driven by the high demand for advanced wound care products in hospitals, ASCs, and wound care centers.

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Leading Key Players and Analysis:

3M Company (US), Smith & Nephew plc (UK), ConvaTec Group Plc (UK), Coloplast A/S (Denmark), Mölnlycke Health Care AB (Sweden), Integra LifeSciences Holdings Corporation (US), PAUL HARTMANN AG (Germany), B. Braun Melsungen AG (Germany), Cardinal Health, Inc. (US), Organogenesis Holdings Inc. (US), Misonix, Inc. (US), MiMedx Group, Inc. (US), Zimmer Biomet Holdings, Inc. (US), Lohmann & Rauscher GmbH & Co. KG (Germany), DeRoyal Industries, Inc. (US), Medline Industries, Inc. (US), DermaRite Industries, LLC (US), Kerecis (Iceland), Advancis Medical (UK), Winner Medical Co., Ltd. (China), Hollister Incorporated (US), Mil Laboratories Pvt. Ltd. (India), Shield Line (US), ZENI MEDICAL (US), Carilex Medical (Germany), Pensar Medical, LLC (US), Wuhan VSD Medical Science & Technology Co., Ltd. (China), and HAROMED B.V. (Belgium) are leading key players in the market.

Geographical Analysis in Detailed:

The global advanced wound care market has been segmented into five major regions-North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. In 2020, North America accounted for the largest share of the advanced wound care market. The increasing number of acquisitions and the presence of many advanced wound care companies in North America are supporting the growth of the advanced wound care market in this region. Additionally, Europe accounted for the second-largest share of the advanced wound care market in 2020. The rising prevalence of diabetes, growth in the geriatric population, the availability of advanced wound care products, and government support are the key factors driving the growth of the advanced wound care market in this region.

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