Advanced Wound Care Market to Witness 6-8% Growth by 2029 | Key Trends, Growth Drivers & Market Insights

The Advanced Wound Care Market is expected to grow at a rate of 6-8 % by 2029. Increase in the prevalence of chronic and surgical or traumatic wounds, benefits offered over traditional products, especially for hard-to-heal wounds, the aging population, adoption of advanced wound care products, and the increased life expectancy of patients suffering from these conditions are some of the key factors driving the global advanced wound care market. However, the high cost of treating chronic and active wounds and the non-availability of best practice guidelines for using remote advanced wound care pose a minor hurdle for the advanced wound care market.

Advanced wound care provides specialized treatment for chronic or non-healing wounds, which are defined as sores or wounds that have not significantly healed during conventional treatment. Globally, around 100M advanced wounds per year require advanced wound care.

Explore market trends, size, share and growth report - request a sample copy: https://meditechinsights.com/advanced-wound-care-market/request-sample/

A Shift towards Advanced Wound Care Products Over Traditional Wound Care Products

Traditional wound care products are used most often as primary or secondary dressings to protect the wound from contamination. Traditional wound care product involves the use of gauze, lint, and cotton dressings.

Advanced wound care products and devices facilitate oxygen flow to the wound while also providing a moist environment to help prevent necrosis (the death of cells and tissues surrounding the wound). Some of the best-advanced wound care products include hydrogels, films, foams, hydrocolloids, alginates, sponges, and fabrics. The benefits of using advanced wound care products include shortened healing time, optimized drainage, and reduced risk of infection.

Technologically Advancements in the Management of Chronic Wounds

It is estimated that there are around 1.5 to 2 million persons living with a chronic or complex wound, some of them for a period longer than six months. Advanced wound care products help prevent these wounds from developing, reduce patient pain and discomfort, stop wounds from becoming infected and promote faster more effective healing. Leading innovations in negative pressure wound therapy (NPWT), surgical incision management, infection prevention, advanced wound care, near-infrared spectroscopy technology, and skin integrity are further expected to fuel market growth. For instance,

In August 2023, Medela unveiled its plan to enhance its negative pressure wound therapy (NPWT) range by introducing the new Invia Integrated Dressing, designed to collaborate seamlessly with Medela NPWT Liberty and Motion pumps, catering to various wound types, including closed surgical incisions, for up to seven days in both home and hospital settings

In August 2022, 3M Health Care's Medical Solutions Division announced the advancement in its delivery of 3M Veraflo Therapy. A new 3M Veraflo Cleanse Choice Complete Dressing Kit and a software upgrade for the 3MTM V.A.C.® Ulta Therapy Unit. These new offerings help simplify the care delivery processes for clinicians using Veraflo Therapy (negative pressure wound therapy with instillation) and help make dressing changes easier, faster, and less painful for their patients as compared to previous Veraflo Therapy dressings

In August 2022, Organogenesis announced that they had received U.S. Food and Drug Administration (FDA) 510k Clearance for PuraPly MZ, a brand extension to the PuraPly product portfolio. PuraPly MZ leverages the innovative properties of PuraPly technology engineered into a micronized (powdered) form to provide surgeons with an option for complex surgical wounds

Advancements in Advanced Wound Care Therapies Boost the Market Growth
Non-healing wounds require advanced treatment to enable wounds to progress through the different stages of the healing process. Advanced wound care therapies are used after standard wound care has failed. Even with the introduction of advanced wound therapies, including dressings, negative pressure wound therapy (NPWT), and cellular and/or tissue-based products, less than half of wounds heal after 12 weeks of treatment. Some of the commonly used therapies are:

Cellular and Tissue-Based Therapies

Topical Oxygen Therapy: It can be used as an adjunctive, advanced modality to treat chronic wounds that have failed to respond to conservative management

Bioactive dressings: Bioactive dressings deliver substances active in wound healing, either bioactive compounds or materials with endogenous activity

Negative Pressure Wound Therapy: This therapy involves creating a tightly sealed dressing around a wound and using a suction pump to apply negative pressure evenly across the surface in a continuous or intermittent manner

Hyperbaric Oxygen Therapy: This therapy requires specialized compression chambers capable of delivering increased concentrations of oxygen (usually 100% oxygen) under elevated atmospheric pressures

Product Segment Insights

Within the advanced wound care product segment, Advanced Wound Dressings hold the highest market share due to their effectiveness in wound healing and infection prevention, driven by advancements in material science and increased prevalence of chronic wounds. Wound Care Devices follow closely, benefitting from the demand for minimally invasive treatments and an aging population. Active Wound Care products, including topical agents, are anticipated to experience significant growth, propelled by research innovations aiming to expedite healing and improve wound management efficiency.

Wound Segment Insights

In this market wound segment, chronic wounds and acute wounds are the primary categories. Chronic wounds, such as diabetic ulcers and pressure ulcers, hold a significant market share due to their prevalence and the increasing incidence of conditions like diabetes and obesity. Factors contributing to their growth include aging populations and rising awareness of advanced wound care solutions. Acute wounds, including surgical wounds and traumatic injuries, also maintain a notable market share, driven by advancements in surgical techniques and an increase in accidents and injuries. Factors fueling their growth include improvements in emergency care and a growing emphasis on rapid wound healing to prevent complications.

North America Expected to Continue to Hold a Major Share in the Advanced Wound Care Market

From a geographical perspective, North America holds a major market share of the advanced wound care market. This can be mainly attributed to the rising prevalence of chronic diseases, increasing awareness of proper wound care management, technological advancements in wound care products, the rising incidence of burn injuries, and an increase in the number of diabetic patients in the region. However, the Asia-Pacific region is expected to witness strong growth in the coming years due to new development in the dressing product lines, a growing aging population, and a growing prevalence of pressure ulcers in the region.

Competitive Landscape

Some of the key players operating in the market include 3M, Smith & Nephew Plc., Convatec Group Plc, Braun, Molnlycke Health Care AB, Cardinal Health, URGO Medical, Medela, Coloplast Corp., Organogenesis, Medtronic, Medline Industries, and MiMedx, among others.

Explore the latest trends and deep insights in just one click: https://meditechinsights.com/advanced-wound-care-market/

Organic and Inorganic Growth Strategies Adopted by Players to Establish Their Foothold in the Market

Players operating in this market are adopting organic and inorganic growth strategies such as collaborations, acquisitions, and new product launches to garner market share. For instance,

In July 2023, Coloplast A/S broadened its wound care portfolio with the announcement of an agreement to acquire Kerecis, a company renowned for its patented technology utilizing intact fish skin in the treatment of wounds and burns, concurrently raising its long-term growth expectations.

In March 2022, Convatec Group Plc announced that they have completed the acquisition of Triad Life Sciences Inc ('Triad'). The Triad team, current portfolio, and product pipeline will now transit to Convatec's Advanced Wound Care (AWC) business and be known as Convatec Advanced Tissue Technologies

In July 2021, Axio Biosolutions, a Boston, and Bengaluru-based medical device company that has been developing proprietary medical products for advanced wound care for surgical, trauma, and emergency settings raised $6 Mn in Series B2 led by TrueScale Capital.

The advanced wound care market is a growing market that is expected to gain further momentum in the coming years due to a strong emphasis on building therapy-based solutions for chronic and acute wounds, the introduction of technologically advanced products, and aggressive organic and inorganic growth strategies followed by the players.

Latest Healthcare Industry Research Reports:

AI In Ultrasound Imaging Market: https://meditechinsights.com/ai-in-ultrasound-imaging-market/

Biopharmaceutical Process Analytical Technology Market: https://meditechinsights.com/biopharmaceutical-process-analytical-technology-market/

Cell Analyzer Market: https://meditechinsights.com/cell-analyzer-market/

Contact:

Ruta Halde
Associate, Medi-Tech Insights
Phone: +32 498 86 80 79
Email: info@meditechinsights.com
Website: https://meditechinsights.com/

About Medi-Tech Insights

Medi-Tech Insights is a healthcare-focused business research & insights firm. Our clients include Fortune 500 companies, blue-chip investors & hyper-growth start-ups. We have completed 100+ projects in Digital Health, Healthcare IT, Medical Technology, Medical Devices & Pharma Services in the areas of market assessments, due diligence, competitive intelligence, market sizing and forecasting, pricing analysis & go-to-market strategy. Our methodology includes rigorous secondary research combined with deep-dive interviews with industry-leading CXO, VPs, and key demand/supply side decision-makers.

This release was published on openPR.