Global Advanced Wound Care Market is anticipated to grow at a CAGR of 5.5% during the forecast period 2021-2031

Global Advanced Wound Care Market is expected to reach $15.5bn by 2031 growing at a CAGR of 5.5% between 2021 and 2031.

New York, According to a new market research report published by Global Insight Services Global Advanced Wound Care Market is expected to reach US$ XX bn by 2031. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.

Market Overview

Wound care management products are bifurcated into traditional wound care and advanced wound care products. Traditional wound care management is more preferred across the globe wherein health practitioners use wound care products like medical tapes, dressings, and bandage rolls to protect the wound from external factors and to prevent bleeding and infections. Advanced wound care products promote a natural healing process, without restraining the wound and comprise the use of foam dressings, alginates, hydrogels, and hydrocolloids. These products ensure beneficial wound healing, optimum oxygen flow, consistent temperature, and protection from external factors.

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Market Drivers

Ageing population across the globe

According to the UN Department of Economic and Social Affairs, in 2019, there were 703 million persons aged 65 years or over in the global population. This figure is projected to double to 1.5 billion in 2050. Globally, the share of the population aged 65 years or over increased from 6% in 1990 to 9% in 2019. That proportion is projected to rise further to 16% in 2050, when it is expected that one in six people across the globe will be aged 65 years or over. Such an intense rise in the population will create opportunities for advanced wound care as the wounds heal slowly and require high medical attention in geriatric people. So, in aged people, it becomes difficult to treat wounds owing to the high risk of infection, especially in cases of deep wounds.

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Market Opportunities

Growing prevalence of diseases & conditions affecting wound healing capabilities of the patients

Physical health conditions, like acute wounds, chronic wounds, and surgical wounds, have a passive effect on wound healing. The prevalence of acute, chronic, and surgical wounds has raised significantly over the past years, primarily due to the growing global traumatic wounds, an increasing number of surgeries, and the increasing prevalence of conditions like obesity and diabetes. Diabetes and obesity may increase the overall incidence and complexity of wounds like infections, ulcerations (leg or foot ulcers), and chronic wounds, which necessitate treatments (advanced wound management) and incur exorbitant medical expenses. Various advanced wound care products, like 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.

Global Advanced Wound Care Market by Product

The various products comprised in the global advanced wound care market are dressings, devices & accessories, grafts & matrices, and topical agents.

The dressings segment is likely to boost the growth of the market at a constant rate of XX% during the forecast period. The key factors such as increasing spending on chronic and surgical wounds coupled with the rising incidence of burn injuries and technological advancements in dressings are likely to boost the growth of the market.

Market Players of Global Advanced Wound Care Market

The key players in the global advanced wound care market are 3M (Acelity Inc.), Adynxx, Inc., B Braun Melsungen AG, Coloplast A/S, ConvaTec Group plc, Essity AB (BSN Medical GmbH), Integra Lifesciences (Derma sciences), Investor AB (Mölnlycke Health Care AB), Johnson & Johnson, Medline Industries, Inc., Medtronic plc., Organogenesis Holdings Inc., and Smith & Nephew Plc. among others.

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Reasons to buy Global Advanced Wound Care Market Report:

• Develop comprehensive understanding of market landscape - industry structure, value-chain, key players, trends, drivers, and challenges
• Drive revenue and market-entry strategy by gaining insights into which segments and geographies are largest and likely to grow fastest
• Formulate sales and marketing strategies by gaining understanding of competitors, their positioning, and strengths & weaknesses
• Develop business and M&A strategies through understanding of latest trends and emerging players in the market
• Refine your business plans by understanding impact of disruptions such as Covid-19 and Russia-Ukraine conflict on the market

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