Press release
Advanced Wound Care Market to See Stunning Growth: $17.8 billion, by 2032 at 5.6% CAGR | Cardinal Health Inc., Molnlycke Health Care AB, MIMEDX Group, Inc., Smith & Nephew plc, 3M Company
Rise in prevalence of diabetes, obesity, and chronic conditions, technological advancements in wound care management and rise in new product launches for wound care treatment are the factors that drive the growth of the global advanced wound care market. However, stringent regulations for manufacturing of wound care products are expected to restrict the market growth. Moreover, the growth opportunities in emerging markets present new opportunities in the coming years.According to the report, the global advanced wound care market generated $10.3 billion in 2022, and is anticipated to generate $17.8 billion by 2032, witnessing a CAGR of 5.6% from 2023 to 2032.
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Market Segmentation:
Product type:
Wound dressings: Wound dressings are used to protect the wound from infection and to promote healing. Advanced wound dressings, such as hydrogels, alginates, and foams, can help to create a moist environment that is conducive to wound healing.
Negative pressure wound therapy (NPWT): NPWT is a device that applies negative pressure to the wound bed. This helps to remove fluid and promote healing.
Bioengineered skin substitutes: Bioengineered skin substitutes are created from living cells and materials. They can be used to cover wounds that are too large or complex to heal on their own.
Other advanced wound care products: Other advanced wound care products include growth factors, antimicrobial agents, and hyperbaric oxygen therapy.
Application:
Chronic wounds: Chronic wounds are wounds that have not healed properly within 12 weeks. They can be caused by a variety of factors, such as diabetes, peripheral vascular disease, and pressure ulcers.
Acute wounds: Acute wounds are wounds that have recently occurred, such as surgical wounds and burns.
Other applications: Advanced wound care products are also used to treat a variety of other conditions, such as burns, diabetic ulcers, and pressure sores.
End user:
Hospitals: Hospitals are the largest users of advanced wound care products.
Ambulatory surgery centers: Ambulatory surgery centers are also increasing their use of advanced wound care products.
Home healthcare: Home healthcare providers are also using advanced wound care products to treat patients in their homes.
Geography:
North America (U.S., Canada, Mexico)
Europe (Germany, France, UK, Italy, Spain, Rest of Europe)
Asia-Pacific (Japan, China, India, Australia, South Korea, Rest of Asia-Pacific)
LAMEA (Brazil, Saudi Arabia, South Africa, Rest of LAMEA)
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North America to maintain its dominance by 2032
Based on region, North America held the largest market share in terms of revenue in 2022, accounting for nearly two-fifths of the global advanced wound care market revenue and is likely to dominate the market during the forecast period. This growth is attributed to factors such as rise in prevalence of chronic wounds, availability of well-developed healthcare infrastructure such as specialized wound care centers and diabetic clinics and surge in emphasis on early detection and comprehensive management of chronic wounds.
Competitive Landscape:
ConvaTec Group plc.
Smith and Nephew plc
3M Company
Mölnlycke Health Care AB
Coloplast
Organogenesis Holdings Inc.
Integra LifeSciences Holdings Corporation
Cardinal Health Inc.
B. Braun SE
MIMEDX Group, Inc.
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Recent developments:
Smart wound dressings: Smart wound dressings are being developed that can monitor wound healing and provide feedback to clinicians. For example, some smart wound dressings can detect infection or changes in wound pH. This information can be used to optimize wound care and improve patient outcomes.
Wearable wound monitoring devices: Wearable wound monitoring devices are being developed to track wound healing in real time. For example, some wearable wound monitoring devices can track the temperature, moisture, and pH of the wound. This information can be used to identify potential problems early and to intervene promptly.
Telemedicine for wound care: Telemedicine is being used to provide wound care to patients in remote locations. For example, clinicians can use telemedicine to assess wounds and to provide instructions on wound care to patients in their homes.
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Key Questions Answered in the Intelligent Study:
What is the market size and growth rate of the global and regional market by various segments?
What is the market size and growth rate of the market for selective countries?
Which region or sub-segment is expected to drive the market in the forecast period?
What Factors are estimated to drive and restrain the market growth?
What are the key technological and market trends shaping the market?
What are the key opportunities in the market?
Comprehensive Healthcare Industry Research Studies:
Aortic Aneurysm Repair Market: https://www.alliedmarketresearch.com/aortic-aneurysm-repair-market-A88917
Diabetic Foot Ulcer Treatment Market: https://www.alliedmarketresearch.com/diabetic-foot-ulcer-treatment-market-A110954
Metastatic Cancer Drugs Market: https://www.alliedmarketresearch.com/metastatic-cancer-drugs-market-A109351
Microfluidic Devices Market:
https://www.alliedmarketresearch.com/microfluidic-devices-market-A17085
Nucleic Acid Therapeutics Market: https://www.alliedmarketresearch.com/nucleic-acid-therapeutics-market-A17089
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About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. 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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