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Advanced Wound Care Market is Expected to Reach USD 13.2 billion in 2029 and Growing at a CAGR of 5.7% | Size, Share & Forecast Growth
Advanced Wound Care Market
Advanced Wound Care Market Touched USD 8.5 billion in 2021 and estimate to Reach USD 13.2 billion in 2029 and will grow at a CAGR of 5.7%
For More Info, Click to Access Complete Report - https://www.gmiresearch.com/report/advances-wound-care-market-analysis-industry-research/
The factors driving the growth of Advanced Wound Care Market includes increasing prevalence of chronic diseases such as obesity and diabetes, rise in the number of surgical procedures around the world and growing geriatric population. According to the report published by World Health Organization (WHO), the cases of obesity worldwide have tripled between 1975 and 2016, around 1.9 billion adults were overweight and 650 million were obese in 2016, approximately 2.8 million people die every year due to obesity, which is pushing the demand for advanced wound care products. Moreover, rise in the launch of innovative products, technological advancements in wound care products, increasing investments by leading players on research and development and expansion of the medical tourism industry, are some of the additional factors supplementing the Global Advanced Wound Care Market. As per Bloomberg, the Global Medical Tourism Market was calculated around USD 104.68 Billion in 2019 and is expected to reach USD 273.72 billion by the end of 2027, expanding at a CAGR of 12.8% over the forecast period (2019-2027), which will accelerate the Advanced Wound Care Market size in the coming years.
However, the growth of Advanced Wound Care Market is hindered attributed to high cost of wound care products.
The leading players operating in the market are Integra LifeSciences Corporation, PAUL HARTMANN LIMITED, B. Braun Melsungen AG, 3M, Smith-Nephew, ConvaTech Group PLC, Cardinal Health, Coloplast Group, Mölnlycke Health Care AB, and Organogenesis Inc., among others.
Based on Product, the Dressings segment is predicted to capture the largest market share during the forecast period
Rise in the launch of innovative products capable of absorption, antibacterial activities and improves the condition of wound bed tissue, are propelling the segment's growth.
Based on Wound Type, the Surgical & Traumatic Wounds segment is projected to dominate the market over the forecast period
Rise in the number of surgical procedures performed across the globe and increasing rate of SSIs, are some of the factors responsible for the segment's growth.
Based on Region, the North American region is anticipated to hold the highest market share during the forecast period
Growing patient awareness about the benefits of advanced wound care products, increasing cases of diabetes and obesity, rising population growth rates and high per capita incomes, are some of the important factors augmenting the market growth in North America.
Key Development
In 2020, Smith-Nephew introduced the PICO 14 Single Use Negative Pressure Wound Therapy System (sNPWT), which has pump duration of upto 14 days. The new pump has various features and advantages of previous PICO sNPWT variants and has an improved quality of pump which required less user intervention.
In 2019, 3M complete the acquisition of Acelity and its KCI subsidiaries internationally for USD 6.7 million, including all assumption of debt and other adjustments.
Market Segmentation
Segmentation by Product
Dressings
Devices & Accessories
Grafts & Matrices
Topical Agents
Segmentation by Wound Type
Surgical & Traumatic Wounds
Diabetic Foot Ulcers
Pressure Ulcers
Venous Leg Ulcers
Burns & Other Wounds
Segmentation by End User
Hospitals, ASCs and Wound Care Centers
Homecare Settings
Other End Users
Segmentation by Region
Asia Pacific
China
Japan
India
Rest of APAC
North America
United States of America
Canada
Europe
United Kingdom
Germany
France
Spain
Rest of Europe
RoW
Brazil
South Africa
Saudi Arabia
UAE
About GMI Research
GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.
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