Press release
Advanced Wound Care Market Share will Increase at 4.6% CAGR Globally by 2030
As per the report published by Allied Market Research, the global advanced wound care market was pegged at $8.97 billion in 2020 and is expected to reach $14.19 billion by 2030, growing at a CAGR of 4.6% from 2021 to 2030.
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There are several factors that impact the growth and development of the advanced wound care market, but some of the top ones include:
Aging population: As the population ages, the prevalence of chronic wounds such as diabetic foot ulcers and pressure ulcers increases, driving demand for advanced wound care products and technologies.
Increasing rates of diabetes and obesity: These conditions are associated with a higher risk of chronic wounds and are driving demand for advanced wound care solutions.
Technological advancements: Advancements in wound healing technology, such as bioengineered skin substitutes and growth factors, are driving innovation in the market and providing new treatment options for patients.
Rising healthcare costs: The high cost of treating chronic wounds is driving demand for cost-effective and efficient wound care solutions, leading to the development of new products and technologies.
Growing awareness of the importance of wound care: Increased awareness of the importance of proper wound care is driving demand for advanced wound care products and technologies, particularly in developing countries where wound care may be less available or accessible.
Impact of Covid-19 on Advanced Wound Care Market-
The Covid-19 pandemic negatively affected the market due to countrywide lockdown and canceled or postponed elective surgeries. Moreover, the prolonged lockdown disrupted the supply chain and increased the prices of medical equipment and raw materials.
However, the increase in skin injuries in medical care providers is expected to boost the demand for advanced wound care.
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Key Developments:
Growth in bioactive wound dressings: Bioactive wound dressings containing materials such as collagen, silver, and honey are becoming increasingly popular due to their ability to promote healing and reduce the risk of infection.
Development of smart wound dressings: Smart wound dressings are being developed that can monitor wound healing and provide real-time feedback to healthcare providers, allowing for more precise and effective treatment.
Expansion of negative pressure wound therapy: Negative pressure wound therapy, which involves the application of negative pressure to a wound to promote healing, is expanding beyond hospital settings and into the home care market, providing more options for patients and reducing healthcare costs.
Increasing use of growth factors and stem cells: Growth factors and stem cells are being used in the development of new advanced wound care products, providing new treatment options for patients with chronic wounds.
Integration of digital technology: Digital technologies such as artificial intelligence, telemedicine, and mobile health are being integrated into advanced wound care solutions, improving patient outcomes and enhancing efficiency in wound care management.
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Key Players:
Smith & Nephew plc
Mรถlnlycke Health Care AB
Acelity L.P. Inc. (now known as 3M)
ConvaTec Group PLC
Coloplast A/S
B. Braun Melsungen AG
Integra LifeSciences Corporation
Organogenesis Inc.
Medline Industries Inc.
Mรถlnlycke Health Care AB
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.
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