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Advanced Wound Care Market Growing at a CAGR of 6.2% - Research Provides Detailed Analysis of Trends, Growth and Forecast

07-04-2022 11:51 AM CET | Health & Medicine

Press release from: MarketsandMarkets™

Advanced Wound Care Market

Advanced Wound Care Market

The Global Advanced Wound Care Market is projected to reach USD 12.8 billion by 2026 from USD 9.4 billion in 2021, at a CAGR of 6.2%.

Increasing number of surgical procedures across the globe;

As the affordability of and access to surgical care increase globally, the number of surgical procedures performed is expected to increase. With an increase in the prevalence of chronic diseases and growth in surgical procedures, the incidence of associated surgical wounds and infections has increased. This will increase the demand for advanced wound care products and debridement procedures, along with advanced techniques like NPWT.

Surgical procedures are normally accompanied by wound infections, excessive bleeding, or tissue damage. Advanced wound care products such as honey wound dressings are loaded with antimicrobial agents and have emerged as viable options to reduce wound bacterial colonization and infection to improve the healing process. The overall uptake of different advanced wound care products during/after surgical procedures are increasing due to the proven benefits of these products and the growing awareness about their effectiveness.

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The Focus on expanding the capabilities of current technologies and launching novel products
Research in advanced wound care products such as advanced wound care dressings has resulted in the introduction of unique products capable of absorption, hydration, and antibacterial activities. This has led to a shift from simple dressings to advanced dressings and products that incorporate active pharmaceutical ingredients. The need to improve the condition of wound bed tissue and provide products that optimize wound healing drives innovation in the market.

The dressings segment accounted for the largest share of the advanced wound care market, by product segment.

Based on products, segmented into dressings, devices & accessories, grafts & matrices, and topical agents. The dressings segment accounted for the largest share of the advanced wound care market in 2020. Factors such as the growing prevalence of chronic, surgical, and traumatic wounds; rising incidence of burn injuries; and technological advancements in dressings are boosting the market growth of this segment.

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Surgical & traumatic wounds segment to register the highest growth rate during the forecast period

The advanced wound care market has been segmented into surgical & traumatic wounds, diabetic foot ulcers, pressure ulcers, venous leg ulcers, and burns & other wounds. In 2020, the surgical & traumatic wounds segment accounted for the highest growth rate. Factors such as the increasing prevalence of chronic conditions and the growing number of surgical procedures performed are expected to drive the growth of the surgical & traumatic wounds segment.

The hospitals, ASCs, and wound care centers segment accounted for the largest share of the advanced wound care market.

Based on end users, 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. The large number of treatment procedures conducted in hospitals, availability of reimbursements, and high patient inflow in this care setting are driving this segments growth.

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North America is the largest regional market;

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 market. The large share of this region can be attributed to the increasing demand for advanced wound treatment options like advanced wound care products, the highly developed healthcare system in the US and Canada, and increasing prevalence of chronic disorders.

The major players operating in Advanced Wound Care Market are 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).

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About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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