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Global Advanced Wound Care Market Research Report: Forecast (2023-2028)

By Type of Products (Advanced Wound Care Dressing, Advanced Wound Care Devices, Advanced Wound Care Biologics), By Wound Type (Acute Wound, Chronic Wound), By End User (Hospitals & Nursing Homes, Clin Read more

  • Healthcare
  • Feb 2023
  • 231
  • HC22001

Market Overview

Advanced wound care involves products like films, foams, hydrogels, alginates, hydrocolloids, sponges, & fabrics, which help treat patients with acute & chronic wounds like burns, ulcers, and other surgical & traumatic wounds. These products ensure the effective healing of wounds by maintaining a stable temperature around them, allowing for optimal oxygen flow, protecting them from infections, and aiding in removing dead tissues.

Market Insights & Analysis: Global Advanced Wound Care Market (2023-28)

The Global Advanced Wound Care Market is projected to grow at around 3.72% CAGR during the forecast period, i.e., 2023-28. Most of the market expansion would be driven by the mounting incidence of chronic wounds worldwide like diabetic foot ulcers, venous ulcers, pressure ulcers, etc., coupled with the growing elderly population that has slow healing abilities, as well as the increasing number of patients with diabetes & obesity. Consequently, there's an ever-increasing need for effective treatments for complex wounds, i.e., stimulating the expansion of the industry globally. 

Report Coverage Details
Study Period Historical Data: 2018-21
Base Year: 2022
Forecast Period: 2023-28
CAGR (2023-2028) 3.72%
Regions Covered North America: The US, Canada, Others
Europe: Germany, The UK, France, Others
Asia-Pacific: China, India, Japan, Australia, Others
Latin America: Brazil, Others
Middle East & Africa: Saudi Arabia, Africa, UAE, Others
Key Companies Profiled

Smith & Nephew, Acelity, Coloplast, ConvaTec, Organogenesis, Molnlycke, Hartman, 3M, Others

Unit Denominations USD Million/Billion

 

Moreover, the rising number of surgical procedures worldwide and the subsequent surge in the cases of surgical wounds & infections, coupled with significant advancements in the healthcare sector owing to massive investments by governments & public/private sectors, are other prominent aspects projected to drive the market through 2028.

Advanced wound care products are a crucial part of the healthcare system as they help in moisture retention, allow rapid healing of wounds both internally & externally, and aid in the absorption of necrotic tissues, which are effective in the case of surgical site infections. The leading players in the industry are actively working on bringing some remarkable advancements in wound care products to allow for easy application, quick recovery, improved comfort, reduced inflammation, & infection prevention.

Furthermore, the rising number of injuries due to road accidents, burns, & trauma is another prominent contributor to the expansion of the advanced wound care market. Wounds formed due to road accidents result in tissue loss, which increases the healing time and, in turn, instigates the need for collagens, foams, & combination dressings with antimicrobials.

Additionally, companies operating in the industry are carrying out mergers & acquisitions, internal R&D, and partnerships in order to expand their business, especially in emerging regions. Newer modalities like hydro-fibers, wound contact layers, & superabsorbents are emerging as promising growth opportunities for wound care firms to yield significant profits in the future. Hence, these trends are set to create new directions for the global advanced wound care market to witness notable expansion during 2023-28.

Latest Trend in the Global Advanced Wound Care Market

  • The Emergence of Smart Wound Dressings

Advanced wound care dressings are undergoing various transformations, which are being augmented in several ways. Smart Dressings have emerged as a promising technology to address the rising cases of acute & chronic wounds worldwide. Their exceptional material properties can address complicated wound structures, fit well to the surface, manage larger amounts of wound discharge, & topically deliver biopharmaceutical agents to speed up the healing process. Moreover, nanosensors embedded into these dressings start glowing to alert patients when a wound is not healing in the proper manner.

High levels of protease activity, bacterial load, & oxygenation levels are key indicators of a wound that can steer effective treatment strategies. Integrating an all-encompassing diagnostic platform into a smart dressing that can interact, sense, & adapt to the wound condition would be the ultimate cure-all in this domain, which would generate lucrative prospects for the Global Advanced Wound Care Market in the coming years.

Market Segmentation

Based on Product:

  • Dressings
  • Active Wound Care
  • Therapy Devices

Of them all, dressings are projected to acquire the largest share in the Global Advanced Wound Care Market during 2023-28. It owes to the availability of a wide range of dressings like foams, transparent films, hydrocolloids, alginates, hydrogels, etc., coupled with their low cost as well as superior efficiency in managing wound exudate. The increasing adoption of these dressings by health professionals to treat wounds like lower limb ulcers, foot ulcers, & diabetes-related wounds is fueling the expansion of the advanced wound care market.

In addition, the growing geriatric population, increasing number of sports injuries, and associated risks of diabetes are augmenting the demand for advanced wound care dressings. While foam dressings hold a significant share of the market as they aid in treating wounds like burns & trauma by absorbing moisture & maintaining the integrity of the tissue, the demand for hydrocolloid dressings is also increasing at a considerable pace globally.

Based on Wound Type:

  • Acute
  • Chronic

Here, chronic wounds hold a notable market share, which ascribes to the rising incidence of chronic diseases and the increasing geriatric population levels worldwide. Moreover, the growing number of diabetic people or those with diabetic foot ulcers & venous pressure ulcers is also infusing the demand for advanced wound care products to treat chronic wounds.

Advanced wound care products, especially dressings, have demonstrated remarkable outcomes in patients with diabetes & chronic wounds, which incur a very long healing time or cannot be healed at all by traditional products. As a result, exponential sales of advanced wound care products to treat chronic wounds have been recorded worldwide in recent years.

Moreover, conventional surgical procedures that are invasive in nature also result in long-lasting chronic wounds. In addition, the mounting incidence of road accidents and the rapidly rising diabetic & obese population worldwide are also amplifying the demand for products, such as new-generation dressings & NPWT (Negative Pressure Wound Therapy) devices and, in turn, stimulating the overall growth of the advanced wound care market.

Regional Landscape

Geographically, the Global Advanced Wound Care Market expands across:

  • North America 
  • Europe 
  • Asia-Pacific
  • South America
  • Middle East & Africa

Among all regions, North America is the largest Advanced Wound Care Market globally. It ascribes to the dramatic rise in surgical procedures in recent years owing to the mounting incidence of chronic illnesses like diabetic ulcers, venous disease, & arterial injuries, i.e., leading to the surging demand for innovative & advanced wound care products across the region.

  • According to ASAPS (American Society for Aesthetic Plastic Surgery), the US witnessed over 1.56 million surgical cosmetic procedures in 2021.

Besides, the state-of-the-art medical infrastructure, substantial investments by both governments and the public/private sector in the healthcare sector, and the ever-increased funding by industry players in R&D associated with finding new & efficient wound care products are other prominent aspects fueling the regional market expansion.

The well-developed healthcare infrastructure in the US & Canada, excellent healthcare reimbursement policies, and ever-increased consumer demand for reduced hospital stays are also likely to create lucrative prospects for the advanced wound care industry in North America through 2028.

  • CDC (The Centers for Disease Control and Prevention) estimates that more than 130 million US adults have diabetes or prediabetes as of 26th Jan 2022.

These stats cite increased risks of developing wounds, which, in turn, highlight the need for efficient wound care for patients with diabetic foot ulcers to prevent surgical site infections. Moreover, the increasing instances of road accidents, burns, & trauma events in the US & Canada are instigating manufacturers to bring innovations in wound healing biologics and expand their production capacities.

Market Dynamics

Key Growth Driver: Growing Incidence of Acute & Chronic Wounds Globally

The mounting prevalence of diabetic foot ulcers, venous leg ulcers, surgical & traumatic wounds, and burns, among others, coupled with the increasing incidence of surgical site infections, are projected to drive the Global Advanced Wound Care Market during 2023-28. Moreover, rising R&D investments and the introduction of technologically advanced wound healing products by market players are further projected to surge the adoption of wound dressings & active therapies for the treatment of acute & chronic wounds worldwide and, in turn, boost the industry in the coming years.

Possible Restraint: Significantly High Costs of Therapy Devices and Active Wound Care

Cost-sensitive regions have patients & health practitioners that opt for less-expensive wound care products. As a result, the high costs of products, such as NPWT devices & skin grafts, and active wound treatments, coupled with the lack of proper reimbursement policies, especially in developing countries, may hamper their demand in the coming years. Moreover, the costs of these treatments surge further as the wound becomes chronic. Hence, these aspects would act as prominent growth restraints for the Global Advanced Wound Care Market during 2023-28.

Key Questions Answered in the Market Research Report:

  1. What are the overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares) of the Global Advanced Wound Care Market?
  2. What are the region-wise size, growth drivers, and challenges for the Global Advanced Wound Care Market?
  3. What are the key innovations, opportunities, current & future trends, and regulations in the Global Advanced Wound Care Market?
  4. Who are the key competitors, their key strengths & weaknesses, and how do they perform in the Global Advanced Wound Care Market based on the competitive benchmarking matrix?
  5. What are the key results derived from surveys conducted during the Global Advanced Wound Care Market study?

Frequently Asked Questions

A. The Advanced Wound Care Market is expected to record around 3.72% CAGR during 2023-28.

A. The global rise in diabetic & obese population levels, the increasing number of surgical procedures, and the mounting incidence of wounds formed due to road accidents, burns, & trauma are projected to drive the Advanced Wound Care Market during 2023-28. On the other hand, the significantly high costs of therapy devices and active wound care products would hamper the market expansion in the coming years.

A. Wound care dressings would create lucrative prospects for the leading companies in the Global Advanced Wound Care Market to yield significant profits during 2023-28.

A. North America would continue generating new avenues for the Global Advanced Wound Care Market to witness significant growth in the coming years.

  1. Introduction
    1. Research Process
    2. Assumption
    3. Market Segmentation
    4. Market Definition
  2. Executive Summary
  3. Global Advanced Wound Care Industry Outlook, 2023-2028
    1. Market Size & Analysis
      1. Industry Revenues
    2. Market Share & Analysis
      1. By Type of Product
        1. Advanced Wound Dressing
        2. Active Wound Care
        3. Wound Care Devices
      2. By Wound Type
        1. Chronic wounds
        2. Acute Wounds
      3. By End User
        1. Hospitals & Nursing Homes
        2. Clinics & Specialty Centers
        3. Home care
        4. Others
      4. By Region
        1. North America
        2. South America
        3. Europe
        4. Middle East & Africa
        5. Asia Pacific
      5. By Competitors
        1. Revenue Shares
    3. Market Attractiveness Index
      1. By Product
      2. By Wound Type
      3. By End User
      4. By Region
  4. Global Advanced Wound Dressing Industry Outlook, 2023-2028
    1. Market Size & Analysis
      1. Industry Revenues
    2. Market Share & Analysis
      1. By Product Type
        1. Alginate Dressings
        2. Hydrogen Dressings
        3. Film Dressings
        4. Hydrocolloid Dressings
        5. Antimicrobial Dressings
        6. Foam Dressings
        7. Others
      2. By Wound Type
      3. By End User
      4. By Region
    3. Market Attractiveness Index
      1. By Product Type
      2. By Wound Type
      3. By End User
      4. By Region
  5. Global Active Wound Care Products Industry Outlook, 2023-2028
    1. Market Size & Analysis
      1. Industry Revenues
    2. Market Share & Analysis
      1. By Product Type
        1. Biological Skin Substitute
        2. Growth Factors
        3. Biological Dressings
        4. Topical Agents
        5. Others
      2. By Wound Type
      3. By End User
      4. By Region
    3. Market Attractiveness Index
      1. By Product Type
      2. By Wound Type
      3. By End User
      4. By Region
  6. Global Wound Care Devices Industry Outlook, 2023-2028
    1. Market Size & Analysis
      1. Industry Revenues
    2. Market Share & Analysis
      1. By Product Type
        1. Negative Pressure, Wound Therapy
        2. Hyperbaric Oxygen Therapy
        3. Pressure Relief Therapy
        4. Advanced Debridement devices
        5. Others
      2. By Wound Type
      3. By End User
      4. By Region
    3. Market Attractiveness Index
      1. By Product Type
      2. By Wound Type
      3. By End User
      4. By Region
  7. Global Chronic Wounds Industry Outlook, 2023-2028
    1. Market Size & Analysis
      1. Industry Revenues
    2. Market Share & Analysis
      1. By Type
        1. Diabetic Foot Ulcers
        2. Pressure Ulcers
        3. Venous Leg Ulcers
      2. By End User
      3. By Region
    3. Market Attractiveness Index
      1. By Type
      2. By End User
      3. By Region
  8. Global Acute Wounds Industry Outlook, 2023-2028
    1. Market Size & Analysis
      1. Industry Revenues
    2. Market Share & Analysis
      1. By Type
        1. Surgical Wounds
        2. Burns
        3. Others
      2. By End User
      3. By Region
    3. Market Attractiveness Index
      1. By Type
      2. By End User
      3. By Region
  9. North America Advanced Wound Care Industry Outlook, 2023-2028
    1. Market Size & Analysis
      1. Industry Revenues
    2. Market Share & Analysis
      1. By Product
      2. By Wound Type
      3. By End User
      4. By Country
        1. USA
        2. Canada
        3. Others
      5. By Competitors
        1. Leading Company Share
    3. Market Attractiveness Index
      1. By Product
      2. By Wound Type
      3. By End User
    4. The United States Advanced Wound Care Industry Outlook, 2023-2028
      1. Market Size & Analysis
        1. Industry Revenues
      2. Market Share & Analysis
        1. By Product
        2. By Wound Type
        3. By End User
    5. Canada Advanced Wound Care Industry Outlook, 2023-2028
      1. Market Size & Analysis
        1. Industry Revenues
      2. Market Share & Analysis
        1. By Product
        2. By Wound Type
        3. By End User
  10. Latin America Advanced Wound Care Industry Outlook, 2023-2028
    1. Market Size & Analysis
    2. Industry Revenues
    3. Market Share & Analysis
      1.    By Product
      2.    By Wound Type
      3.    By End User
      4.    By Country
        1.  Brazil
        2.  Others
      5.    By Competitors
        1.  Leading Company Share
    4. Market Attractiveness Index
      1.  By Product
      2.  By Wound Type
      3.  By End User
    5. Brazil Advanced Wound Care Industry Outlook, 2023-2028
      1.    Market Size & Analysis
        1.  Industry Revenues
      2.    Market Share & Analysis
        1.  By Product
        2.  By Wound Type
        3.  By End User
  11. Middle East & Africa Advanced Wound Care Industry Outlook, 2023-2028
    1. Market Size & Analysis
    2. Industry Revenues
    3. Market Share & Analysis
      1.    By Product
      2.    By Wound Type
      3.    By End User
      4.    By Country
        1.  UAE
        2.  Saudi Arabia
        3.  Africa
        4.  Others
      5.    By Competitors
        1.  Leading Company Share
    4. Market Attractiveness Index
      1.  By Product
      2.  By Wound Type
      3.  By End User
    5. UAE Advanced Wound Care Industry Outlook, 2023-2028
      1.    Market Size & Analysis
        1.  Industry Revenues
      2.    Market Share & Analysis
        1.  By Product
        2.  By Wound Type
        3.  By End User
    6. Saudi Arabia Advanced Wound Care Industry Outlook, 2023-2028
      1.    Market Size & Analysis
        1.  Industry Revenues
      2.    Market Share & Analysis
        1.  By Product
        2.  By Wound Type
        3.  By End User
    7. Africa Advanced Wound Care Industry Outlook, 2023-2028
      1.    Market Size & Analysis
        1.  Industry Revenues
      2.    Market Share & Analysis
        1.  By Product
        2.  By Wound Type
        3.  By End User
  12. Europe Advanced Wound Care Industry Outlook, 2023-2028
    1. Market Size & Analysis
    2. Industry Revenues
    3. Market Share & Analysis
      1.    By Product
      2.    By Wound Type
      3.    By End User
      4.    By Country
        1.  Germany
        2.  France
        3.  UK
        4.  Others
      5.    By Competitors
        1.  Leading Company Share
    4. Market Attractiveness Index
      1.  By Product
      2.  By Wound Type
      3.  By End User
    5. Germany Advanced Wound Care Industry Outlook, 2023-2028
      1.    Market Size & Analysis
        1.  Industry Revenues
      2.    Market Share & Analysis
      3.    By Product
        1.  By Product
        2.  By Wound Type
        3.  By End User
    6. France Advanced Wound Care Industry Outlook, 2023-2028
      1.    Market Size & Analysis
        1.  Industry Revenues
      2.    Market Share & Analysis
        1.  By Product
        2.  By Wound Type
        3.  By End User
    7. UK Advanced Wound Care Industry Outlook, 2023-2028
      1.    Market Size & Analysis
        1.  Industry Revenues
      2.    Market Share & Analysis
        1.  By Product
        2.  By Wound Type
        3.  By End User
  13. Asia Pacific Advanced Wound Care Industry Outlook, 2023-2028
    1. Market Size & Analysis
    2. Industry Revenues
    3. Market Share & Analysis
      1.    By Product
      2.    By Wound Type
      3.    By End User
      4.    By Country
        1.  India
        2.  China
        3.  Australia
        4.  Japan
        5.  Others
      5.    By Competitors
        1.  Leading Company Share
    4. Market Attractiveness Index
      1.  By Product
      2.  By Wound Type
      3.  By End User
    5. India Advanced Wound Care Industry Outlook, 2023-2028
      1.    Market Size & Analysis
        1.  Industry Revenues
      2.    Market Share & Analysis
        1.  By Product
        2.  By Wound Type
        3.  By End User
    6. China Advanced Wound Care Industry Outlook, 2023-2028
      1.    Market Size & Analysis
        1.  Industry Revenues
      2.    Market Share & Analysis
        1.  By Product
        2.  By Wound Type
        3.  By End User
    7. Australia Advanced Wound Care Industry Outlook, 2023-2028
      1.    Market Size & Analysis
        1.  Industry Revenues
      2.    Market Share & Analysis
        1.  By Product
        2.  By Wound Type
        3.  By End User
    8. Japan Advanced Wound Care Industry Outlook, 2023-2028
      1.    Market Size & Analysis
        1.  Industry Revenues
      2.    Market Share & Analysis
        1.  By Product
        2.  By Wound Type
        3.  By End User
  14. Global Advanced Wound Care Industry- Imports & Exports
  15. Global Advanced Wound Care Industry Trends & Insights
  16. Global Advanced Wound Care Industry Dynamics
    1. Drivers
    2. Challenges
  17. Global Advanced Wound Care Industry- Regulations
  18. Competition Outlook
    1. Company Profiles
      1. Smith & Nephew
      2. Acelity
      3. Coloplast
      4. ConvaTec
      5. Organogenesis
      6. Molnlycke
      7. Hartman
      8. 3M
  19. Disclaimer
Advanced Wound Care Market Segmentation