Advanced Wound Care Market CAGR To Exceed 5% by 2035, Due to The Rising Prevalence of Chronic Disease Conditions | Roots Analysis

According to our latest market report "Advanced Wound Care Market by Type of Advanced Wound Care Product, Type of Advanced Wound Care Dressing, Type of Bioengineered Skin and Dermal, Type of Wound Healing Medical, Type of Wound Treated, Type of Acute Wound Treated, Type of Chronic Wound Treated, Type of End User, and Key Geographical Regions: Industry Trend and Global Forecasts, Industry Trends and Global Forecasts, Till 2035", the global advanced wound care market size is projected to reach USD 20.21 billion by 2035 from USD 11.57 billion in 2024, growing at a CAGR of 5.25% in the forecast period 2023-2035.

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Owing to the rise in geriatric population, rising prevalence of chronic disease conditions, and subsequent surge in the number of surgeries, the burden of wounds and the associated rate of morbidities, have become increasingly significant. In the US alone, around 6.5 million people, accounting for 2% of its entire population, are currently suffering from chronic wounds, such as diabetic ulcers, pressure ulcers, and venous ulcers. Therefore, advanced wound care products have garnered significant recognition for their pivotal role in revolutionizing the wound care treatment industry. These novel products circumvent the limitations of the traditional wound care products (gauze, bandages, lint, and cotton wool) such as lack of bioactive materials, limited biocompatibility, higher chances of infection and labor-intensive nature of the products. Therefore, owing to the various advantages offered by the advanced wound care solutions and the rising need for effective solutions to manage wound care, the advanced wound care market size is anticipated to increase at steady CAGR in the coming decade.

Advanced Wound Care Market Segments

Based on the type of advanced wound care product, the market is segmented into Advanced Wound Care Products, Wound Care Dressings, Bioengineered Skin and Dermal Substitutes, and Wound Healing Medical Devices

1. The wound care dressings segment led the advanced wound care market, capturing the largest revenue share of close to 60.0% in 2023.
2. The bioengineered skin and dermal substitutes segment is anticipated to show the highest growth potential during the forecast period of over 9.4% annually.

Based on the type of wound care dressing, the market is segmented into Foam Dressings, Antimicrobial Dressings, Alginate Dressings, Hydrogel Dressings, Hydrocolloid Dressings, Composite Dressings and Other Type Of Wound Care Dressings

1. The foam dressings segment led the advanced wound care market, capturing the largest revenue share of close to 30.0% in 2023.
2. The composite dressings segment is anticipated to show the highest growth potential during the forecast period, growing at CAGR of close to 4.1% annually.

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Based on the type of bioengineered skin and dermal substitute, the market is segmented into Allografts, Autografts, Extracellular Matrices, Growth Factors and Other Dermal Substitutes

1. The allografts segment led the advanced wound care market, capturing the largest revenue share of close to 50.0% in 2023.
2. The extracellular matrices segment is anticipated to show the highest growth potential during the forecast period of close to 12.0% annually.

Based on the type of wound healing medical devices, the market is segmented into Negative Pressure Wound Therapy, Hyperbaric Oxygen Therapy, Topical Oxygen Therapy, Hydrotherapy, Electric Stimulation Therapy and Other Wound Healing Medical Devices

1. The negative pressure wound therapy segment led the advanced wound care market, capturing the largest revenue share of close to 50.0% in 2023.
2. The topical oxygen therapy is anticipated to show the highest growth potential during the forecast period of close to 9.0% annually.

Based on the type of wound treated, the market is segmented into Acute Wounds and Chronic Wounds

1. The chronic wounds segment led the advanced wound care market, capturing the largest revenue share of 80.0% in 2023.
2. In fact, the share of chronic wounds segment is unlikely to change during the forecast period.

Based on the type of acute wound treated, the market is segmented into Surgical Wounds, Burns and Other Acute Wounds

1. The surgical wounds segment led the advanced wound care market, capturing the largest revenue share of 50.0% in 2023.
2. The burns segment is anticipated to show the highest growth potential during the forecast period, growing at CAGR of over 7.0% annually.

Based on the type of chronic wound treated, the market is segmented into Diabetic Ulcers, Pressure Ulcers, Venous Ulcers and Other Chronic Wounds

1. The venous ulcers segment led the advanced wound care market, capturing the largest revenue share of 40.0% in 2023.
2. The pressure ulcers segment is anticipated to show the highest growth potential during the forecast period of close to 6.5% annually.

Based on the type of end user, the market is segmented into Hospital Care, Home / Door to Door Services and Other Types of End Users

1. The hospital care segment led the advanced wound care market, capturing the largest revenue share of 50.0% in 2023.
2. The home / door to door services segment is anticipated to show the highest growth potential during the forecast period of over 7.0% annually.

Advanced Wound Care Market Regional Outlook
Based on the key geographical regions, the advanced wound care market can be segmented into five major regions, including North America, Europe, Asia Pacific, and rest of the world. Led by the US, North America is anticipated to capture the majority share of the advanced wound care market in 2023 and this trend is likely to remain unchanged during the forecast period. The Asia Pacific is accounted to be the fastest-growing segment of the market. The growth of the advanced wound care markets in the Asia Pacific region is driven by growing partnership activity, rising tide of government and regulatory backing and growing demand for effective and next generation advanced wound care solutions.

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Key Report Takeaways
1. Currently, more than 180 companies claim to manufacture various types of advanced wound care products; of these, more than 60% of players are headquartered in North America.
2. 43% of companies manufacturing advanced wound care products offer advanced wound care dressings; around 80% of these companies offer dressings to treat both acute and chronic wounds.
3. In pursuit of gaining a competitive edge, stakeholders are actively upgrading existing capabilities and enhancing their respective offerings to comply with the evolving industry benchmarks.
4. Since 2018, over 130 clinical trials have been registered to evaluate the efficacy of various advanced wound care products; 50% of these studies are being conducted across different sites in the US.
5. In recent years, the domain witnessed a significant growth in partnership activity; majority of the deals involved acquisitions by players located in the US.
6. Driven by the rising prevalence of chronic wounds and growing number of geriatric populations, the market for advanced wound care products is poised to witness significant growth in the foreseen future.
7. The advanced wound care market is projected to grow at a CAGR of over 5%, till 2035; the forecasted opportunity is likely to be distributed across different types of advanced wound care products.
8. The projected market opportunity is anticipated to be well-distributed across different types of wound healing medical devices, types of wounds treated and key geographical regions.

Advanced Wound Care Market Key Players
Examples of key companies engaged in advanced wound care market (which have also been profiled in this market report; the complete list of companies is available in the full report) include 3M, Arthrex, Advanced Medical Solutions, Cardinal Health, Coloplast, Convatec, DeRoyal, Ethicon, Essity, Fidia Farmaceutici, Integra Life Sciences, Medline Industries, Molnlycke Healthcare, Organogenesis, RTI Surgical, Smith + Nephew, and Zimmer Biomet.

Gaurav Chaudhary
Email: Gaurav.chaudhary@rootsanalysis.com or sales@rootsanalysis.com
Website: https://www.rootsanalysis.com

Roots Analysis is a global leader in the market research. Having worked with over 750 clients worldwide, including Fortune 500 companies, start-ups, academia, venture capitalists and strategic investors for more than a decade, we offer a highly analytical / data-driven perspective to a network of over 450,000 senior industry stakeholders looking for credible market insights. All reports provided by us are structured in a way that enables the reader to develop a thorough perspective on the given subject. Apart from writing reports on identified areas, we provide bespoke research / consulting services dedicated to serve our clients in the best possible way.

This release was published on openPR.