Advanced Wound Care Market - Forecast, COVID-19 Impact, Trend Analysis & Competition Tracking - Global Insights 2018-2033

Prevalence of Diseases and the Geriatric Population Will Propel the Market's Growth

It is anticipated that the more individuals are going to require care for chronic wounds due to the rise in acute injuries, including surgical and traumatic wounds, as well as chronic wounds such venous leg ulcers, diabetic foot ulcers, and acute injuries generally. Acute and chronic wounds have increased in frequency over the past few decades due to a number of factors, including the global geriatric population's expansion and the rising number of diabetic patients. For instance, the WHO estimates that by 2030, 1 in 6 individuals worldwide would be 60 years of age or older. The number of persons over the age of 60 will rise from 1 billion in 2020 to 1.4 billion by 2030. The number of people in the globe who are 60 years or older will double by 2050. (2.1 billion). Between 2020 and 2050, the number of people 80 or older is predicted to quadruple, reaching 426 million, which is anticipated to drive market growth.

Advanced Wound Care Market Growth Will Be Driven by The Escalation in Number of Illnesses and Chronic Conditions

Diabetes foot ulcers, which are prevalent in diabetic patients, are treated using advanced wound care solutions. Currently more than 25% of people with diabetes may develop diabetic foot ulcers, and 20% of patients may require foot amputation. Also, it is projected that technological advancements in advanced wound care products would have a substantial influence on the market for advanced wound care. Some of the most cutting-edge technological products in this area will soon enter the market. Bioactive molecules across the treated region, which maintain the drug release and particularly enhance the therapeutic effects of pharmaceuticals, are used in nanoparticle-based wound healing and skin regeneration. Similar to this, it is anticipated that gene therapy, which promotes wound healing by infusing healthy normal genes into cells, will become available for market. The market for advanced wound care is thus anticipated to grow throughout the forecast period as a result of these developments in advanced wound care products.

An increase in surgical operations and a rise in hospitalisations are both responsible for this segment's development. For instance, the Australian Institute of Health and Welfare reports a rise in hospitalized patients in Australia. Over 11.1 million individuals were hospitalised in Australia in 2019–2020. Therefore, it is anticipated that the market would expand throughout the forecast period as hospitals and hospitalisation rates rise. a rise in surgeries performed globally is fueling the market's growth. Moreover, around 1 million plastic surgery procedures are performed in South Korea, and every third woman between the ages of 19 and 29 has undergone cosmetic surgery in the country. As a result, the rise in surgeries may lead to an increase in the usage of advanced wound care products, which might propel the expansion of the advanced wound care market.

Increase in Surgical Procedures to Push Moist Wound Care Segment Growth

The advanced wound care market was dominated by the moist wound care segment. This predominance can be linked to an increase in surgical procedures and wound cases over the world. For instance, the Life Span Organization estimates that over 500,000 open-heart surgeries were carried out in the United States in 2018. Additionally, 40,000 children in the U.S. have congenital heart surgery, according to AHA Journals. The market for advanced wound care is expected to grow during the forecast period since such procedures take advanced wound care products help treat such wounds quickly and help them recover more quickly.

The main driver of the market is the increase in different traumatic wounds, such those caused by automotive accidents. Additionally, the number of non-fatal injuries required medical treatment has grown in the United States. 210 of the 316 persons who are shot daily in the United States survive, according to a ‘Brady United Organization’ report. The category is thus expected to grow throughout the projected period due to a rise in the frequency of acute wounds. According to the, the Agency for Healthcare Research and Quality estimates that more than 2.5 million Americans suffer from pressure ulcers each year. The prevalence of pressure ulcers in a therapeutic context may range from 4% to 38%, according to NCBI. In addition to this, the American Diabetes Association estimates that 34.2 million Americans, or 10.5% of the nation's population, had diabetes in 2018. The number of people who have diabetic foot ulcers is anticipated to rise due to the growing diabetes population, fueling market expansion.

Advanced Wound Care Market Segmentation

The global advanced wound care market is segmented on the basis of type, product, and application.

On the basis of Product:

·         Moist

o   Foam Dressings

o   Hydrocolloid Dressings

o   Film Dressings

o   Alginate Dressings

o   Hydrogel Dressings

o   Collagen Dressings

o   Other Advanced Dressings

·         Antimicrobial

o   Silver

o   Non-silver

·         Active

o    Biomaterials

o   Skin-substitute

·         Therapy Devices

o   Negative Pressure Wound Therapy

o   Oxygen and Hyperbaric Oxygen Equipment

o   Electromagnetic Therapy Devices

o   Others

On the basis of Application:

·         Chronic Wounds

o   Diabetic Foot Ulcers

o   Pressure Ulcers

o   Venous Leg Ulcers

o   Other Chronic Wounds

·         Acute Wounds

o   Surgical & Traumatic Wounds

o   Burns

On the basis of End-Use:

·         Hospitals

·         Clinics

·         Home Healthcare

·         Others

COVID-19 Impact on Advanced Wound Care Market

Despite being an essential component of healthcare, advanced wound care has not seen a high level of market demand due to the rise of COVID-19 cases. Numerous nations have postponed off elective operations and other medical treatments indefinitely because to the COVID-19 pandemic, which has caused healthcare facilities like hospitals to become overcrowded with COVID-19 patients. Additionally, the COVID-19 pandemic has provided several chances for regional producers. Major players' supply chains have been disrupted as a result of travel restrictions at international borders. Due to the unmet needs of end users, this gave local companies the opportunity to enter the market for advanced wound care.

With several small and major firms, the market for advanced wound care is very fragmented. Due to the market's large number of competitors, intense competition is anticipated to intensify throughout the forecasted period. Leading players also participate in collaborations, product launches, mergers, and acquisitions to expand their product portfolios. For instance, ConvaTec announced the release of ConvaMax in January 2020, a superabsorber dressing intended to treat severely draining wounds such pressure ulcers, leg ulcers, and diabetic foot ulcers. Similar to that, Integra LifeSciences reported a successful clinical result for Integra Bilayer Wound Matrix in May 2020. (IBWM). The company's portfolio of regenerative technologies includes this product, which makes use of collagen and amniotic fluid. Thus, the market for advanced wound care is anticipated to grow over the projected period as a result of different tactics used by leading companies. Leading companies in the market for advanced wound care include:

Lohmann & Rauscher GmbH & Co. KG, De Royal Industries Inc., Molnlycke Health Care AB, Integra Life Sciences Holdings Corporation, PAUL Hartmann AG, B. Braun Melsungen AG, Cardinal Health Inc., Organogenesis Holdings Inc., Misonix Inc., MiMedx Group Inc., Zimmer Biomet Holdings Inc., Medline Industries Inc., DermaRite Industries LLC, Kerecis, Advancis Medical, 3M Company, Smith & Nephew PLC, ConvaTec Group PLC, Coloplast A/S, Winner Medical Co. Ltd., Hollister Incorporated, Mil Laboratories Pvt. Ltd., Shield Line, ZENI Medical, Carilex Medical, Pensar Medical LLC, Wuhan VSD Medical Science & Technology Co. Ltd., Haromed B.V.

Market for Advanced Wound Cares is Concentrated Primarily in North America

In 2021, North America held the majority of the revenue and controlled the market for advanced wound care. A strong healthcare infrastructure and a rise in surgical operations are to responsible for this dominance. For instance, 18 million Americans performed minimally invasive cosmetic surgery treatments in 2018, according to the American Society of Plastic Surgeons. Thus, the adoption of advanced wound care treatments to prevent surgical site infections is growing. The market is also expected to be driven by an increase in the number of incidents including traffic accidents, burns, and trauma events globally. For instance, according to the WHO (2018), over 1,000,000 individuals in India suffer severe or moderate burns every year. Therefore, throughout the anticipated period, the aforementioned factors are projected to fuel market expansion.

The market for advanced wound care is anticipated to develop at the greatest rate in Asia Pacific during the forecast period. This might be attributed to the region's growing geriatric population and increased incidence of chronic illnesses brought on by changing lifestyles. For instance, the European Parliament reports that Japan's population is ageing quickly, with 28.7% of people over 65. In addition, the population of the country will be composed of one-third individuals over 65 by 2036. A rise in the geriatric population might increase the demand for advanced wound care products since they are more likely to suffer from various illnesses and impairments. Additionally, it is projected that a rise in medical tourism would assist the industry expand.

The report provides a detailed overview of the advanced wound care market insights in regions including North America, Latin America, Europe, Asia-Pacific, Oceania, and the Middle East and Africa. The country-specific assessment for advanced wound care market has been offered for all regional market share, along with forecasts, market scope estimates, price point assessment, and impact analysis of prominent countries and regions. Throughout this market research report, Y-o-Y growth and CAGR estimates are also incorporated for every country and region, to provide a detailed view of the advanced wound care market. These Y-o-Y projections on regional and country-level markets brighten the political, economic and business environment outlook, which are anticipated to have a substantial impact on the growth of the advanced wound care market. Some key country and region included in the advanced wound care market report as follows:

North America (U.S., Canada)

Latin America (Mexico, Argentina, Brazil, Peru, Chile)

Europe (Germany, France, Italy, U.K., BENELUX, Nordics, Spain, Poland, Russia, CIS)

Asia Pacific (China, ASEAN, India, Japan, South Korea)

Oceania (Australia, New Zealand)

Middle East and Africa (South Africa, GCC Countries, Turkey, Israel, Iran)

The Advanced Wound Care Market Research Report Covers In-depth Analysis on:

·         Advanced wound care market segments

·         Advanced wound care market dynamics

·         Advanced wound care market value and share analysis

·         Recent trends, restraints, opportunities in advanced wound care market

·         Companies & competition involved advanced wound care market

·         Latest technologies in advanced wound care market

·         Supply chain and value chain advanced wound care market

·         Advanced wound care market sales and distribution strategies

Advanced Wound Care Market Growth Highlights:

·         A comprehensive overview of parent market

·         Market dynamics, demand and trends in the industry

·         Current, historical and anticipated market size in terms of volume

·         In-depth market segmentation

·         Competition landscape

·         Key Strategies of leading companies and product portfolio

·         Advanced wound care industry trends and developments

·         Potential and country, regions and segments exhibiting future growth

·         A detailed viewpoint on advanced wound care market forecast by countries

·         Essential information to enhance market position