Advanced Wound Care Market Report
Advanced Wound Care Market- Global Industry Size, Share, Trend Analysis, Outlook, Growth, Opportunity and Forecast, 2020-2027, Segmented By Product (Foam Dressings, Film Dressings); Wound Type (Surgical, Trauma, Burns, Ulcers, Diabetic Foot, Others); End-User (Hospitals & Clinics, Ambulatory Care Centers, Wound Care Centers, and others); By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
- Published Date: April 2021
- Report ID: BWC20331
- Available Format: PDF
- Page: 195
Report Overview
Increased incidences of road accidents and age-related wound injuries are driving the global market for advanced wound care. Advanced wound healing is crucial to treating difficult-to-heal wounds and providing comfort to patients.
Global Advanced Wound Care Market Size - Industry Trends & Forecast Report 2027
The global advanced wound care market was worth USD 10.1 Billion in 2020 and is further projected to reach USD 18.4 Billion by 2027, at a CAGR of 8.4 % during 2021-2027 (forecast period). The global advanced wound care market is driven by multiple factors, including an aging population, an increase in diabetes cases, technological advancements, and growing wound management awareness. The industry is also benefiting from increased funding for wound care studies. Additionally, the advanced wound care market is also growing due to increased demand for novel and advanced wound care products, as well as an increase in the number of trauma and burn injuries.
Source: BlueWeave Consulting
Global Advanced Wound Care Market Overview:
The funding for wound care research is increasing, thereby propelling the market growth. Injuries from trauma and burns are also on the rise, which in turn is boosting the wound care market's revenue. One of the key factors that will drive the growth of the advanced wound care market in the coming years is the rising prevalence of several lifestyle disorders that lead to long-term wounds, such as diabetic venous leg ulcers, foot ulcers, and pressure ulcers. Moreover, due to the effectiveness of advanced wound care products in treating wounds, conventional wound care products are gradually being replaced by advanced wound care products. Nevertheless, the high cost associated with wound care products is a restraint in the growth of the market.
Global Advanced Wound Care Market Forecast and Trends
Growth Drivers
Rising prevalence of Diabetes and Obesity
One of the most significant global health crises in the 21st century is Diabetes and Obesity. These chronic conditions can increase the risk and severity of wounds such as lesions (foot ulcers/ leg ulcers), infections, and surgical wounds, both of which require treatment and incur high medical costs. Every year, an increasing number of people are diagnosed with these conditions, which often lead to life-altering complications. The rising number of diabetic wounds in patients is leading to a surge in demand for advanced wound care products. As a result, the number of surgeries performed has risen in tandem with the rise in chronic conditions. Thus, wound care products are becoming more widely used to prevent surgical site infections.
Technological advancements driving the market
The increasing chronic disorders and escalating surgical procedures are the common factors driving the need for advanced wound care. Leading advanced wound care companies are heavily investing in R&D to create technologically advanced products. The industry has developed superior wound care products as a result of extensive research and development in this area. For example, Negative pressure wound treatment systems, hyperbaric oxygen, and automated epidermal harvesting system, which facilitate rapid wound healing in chronic wound situations, are some technologically advanced wound care products available in the market.
Restraints
High cost of advanced wound care products
The exorbitant price of chronic wound treatments and advanced wound care devices limit their adoption, especially in the budget-conscious markets of the Asia Pacific. Both patients and doctors prefer less expensive advanced wound care products in such regions. Despite the availability of a variety of bio-engineered dressings in such regions, patients, as well as healthcare professionals, prefer conventional and simple wound care products as they are less expensive. The key constraints to market development in developing countries are high costs and lack of sufficient reimbursement policies.
Impact of COVID-19 in the industry
The COVID-19-induced pandemic has negatively affected the advanced wound care market. Since there is a chance of patients contracting COVID-19 infections in hospitals and other healthcare environments, wound care facilities are being avoided by the patients. Due to the spread of the virus, many specialized wound care firms had to suspend their manufacturing and distribution activities. Moreover, due to new government regulations, company activities have been halted, which has had a negative effect on advanced wound care revenues. Additionally, due to nationwide lockdowns, denied wound care services, and canceled or suspended surgeries, the advanced wound care market is expected to witness an unavoidable deterioration during the forecast period.
Global Advanced Wound Care Market: By Technology
Based on technology, the advanced wound care market is categorized into Foam Dressings and Film Dressings. The foam dressings segment held the largest market share with a significant chunk of sales. Foam dressing helps in absorbing the moisture that aids in preserving the integrity of the tissue. Foams are frequently used to prevent and treat burn injury exudation. Since burns and wound cases are expected to increase in the United States, the segment is expected to grow further.
Global Advanced Wound Care Market: By Wound Type
Based on wound type, the advanced wound care market is categorized into Surgical, Trauma, Burns, Ulcers, Diabetic Foot, Others. Out of all these, Diabetic Foot is the dominant segment.
Increasing cases of diabetic patients globally and the rise in the cases of diabetic foot ulcers among diabetic patients are some of the factors responsible for the dominance of this segment. Additionally, the surging number of diabetic wounds in patients could result in a large demand for advanced wound care products during the forecast period.
Global Advanced Wound Care Market: By End-Users
Based on end-users, the advanced wound care market is divided into Hospitals & Clinics, Ambulatory Care Centers, Wound Care Centers, and others. The hospital & clinics Segment is the leading segment among all of these. The dominance can be attributed to a rise in the number of patients admitted to hospitals with chronic or acute wounds. Owing to an increase in trauma and traffic accidents, the number of surgical procedures in hospitals & clinics has increased dramatically. According to experts, patients that undergo surgical operations are more likely to develop surgical wounds. Thus, the availability of advanced facilities and healthcare services for the treatment of various surgical wounds, as well as the healthcare outflow to provide better patient care, would aid the market growth.
Global Advanced Wound Care Market – Regional Insights
North America, Europe, Asia Pacific, Latin America, and the Middle East, and Africa make up the global advanced wound care industry. North America accounts for the largest share of the wound care industry, owing to the rise in chronic diseases such as obesity. The increasing incidence of chronic conditions resulting in chronic, traumatic, and surgical wounds; the rising occurrence of burn injuries; the increasing investment in surgical and chronic wounds; and technological innovations in this area are all factors contributing to this market segment's size.
Source: BlueWeave Consulting
Recent Developments
- In January 2020, ConvaTec Group Plc, a leading global medical technology firm, launched ConvaMaxTM, a new super absorber dressing that will be sold by ConvaTec. ConvaMaxTM super absorber wound dressing is used to treat wounds that exude a lot of fluid, such as pressure ulcers, diabetic foot ulcers, and leg ulcers.
- In March 2021, SANUWAVE Health, Inc., a company focused on the development and commercialization of a best - in - class advanced wound care product line for the regeneration and repair of tissue and vascular structures, announced that Kingdom Brother has agreed to be the company's exclusive multinational distributor for its dermaPACE®, UltraMIST®, and WoundShield® energy-based medical devices.
Competitive Landscape
The key players in the Global Advanced Wound Care Market are Smith & Nephew, Mölnlycke Health Care, Paul Hartmann, Covidien, ConvaTec, B. Braun Melsungen, BSN medical, 3M Health Care, Systagenix Wound Management, Derma Sciences, Coloplast, Laboratoires Urgo, Johnson & Johnson, Kinetic Concepts, Inc and other key manufacturers. The market players are continually launching new products, entering into partnerships, and signing agreements to strengthen their position in the market, thereby stimulating the advanced wound care industry.
Scope
Attribute |
Details |
Years Considered |
Historical data – 2016-2019 Base Year – 2019 Forecast – 2020 – 2027 |
Facts Covered |
Revenue in USD Billion |
Market Coverage |
U.S, Canada, Germany, UK, France, Italy, Spain, Brazil, Mexico, Japan, South Korea, China, India, Argentina, AUAE, South Africa, Saudi Arabia |
Product/Service Segmentation |
By Product, By Wound Type, By End User, By Region |
Key Players |
Key players for Global Advanced Wound Care Market are Smith & Nephew, Mölnlycke Health Care, Paul Hartmann, Covidien, ConvaTec, B. Braun Melsungen, BSN medical, 3M Health Care, Systagenix Wound Management, Derma Sciences, Coloplast, Laboratoires Urgo, Johnson & Johnson, Kinetic Concepts, Inc and other key manufacturers.
|
By Product
- Foam Dressings
- Film Dressings
By Wound Type
- Surgical
- Trauma
- Burns
- Ulcers
- Diabetic Foot
- Others
By End User
- Hospitals & Clinics
- Ambulatory Care Centers
- Wound Care Centers
- Others
By Region
- North America
- Latin America
- Europe
- The Asia Pacific
- The Middle East
- Africa
1. Research Framework
1.1. Research Objective
1.2. Product Overview
1.3. Market Segmentation
2. Research Methodology
2.1. Qualitative Research
2.1.1. Primary & Secondary Research
2.2. Quantitative Research
2.3. Market Breakdown & Data Triangulation
2.3.1. Secondary Research
2.3.2. Primary Research
2.4. Breakdown of Primary Research Respondents, By Region
2.5. Assumption & Limitation
3. Executive Summary
4. Global Advanced Wound Care Market Insights
4.1. DROC Analysis
4.1.1. Growth Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. Recent Development
4.3. Porter’s Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Intensity of Rivalry
4.4 Value Chain Analysis
4.5 Strategic Outlook
4.6 Regulatory Framework
4.7 Key Strategic Developments
5. Global Advanced Wound Care Market Overview
5.1. Market Size & Forecast by Value, 2020-2027
5.1.1. By Value (USD Million)
5.2. Market Share & Forecast
5.2.1. By Product
5.2.1.1. Foam Dressings
5.2.1.2. Film Dressings
5.2.2. By Wound Type
5.2.2.1. Surgical
5.2.2.2. Trauma
5.2.2.3. Burns
5.2.2.4. Ulcers
5.2.2.5. Diabetic Foot
5.2.2.6. Others
5.2.3. By End-Users
5.2.3.1. Hospitals & Clinics
5.2.3.2. Ambulatory Care Centers
5.2.3.3. Wound Care Centers
5.2.3.4. Others
5.2.4. By Region
5.2.4.1. North America
5.2.4.2. Latin America
5.2.4.3. Europe
5.2.4.4. Asia Pacific
5.2.4.5. Middle East
5.2.4.6. Africa
6. North America Advanced Wound Care Market
6.1. Market Size & Forecast by Value, 2020-2027
6.1.1. By Value (USD Million)
6.2. Market Share & Forecast
6.2.1. By Product
6.2.2. By Wound Type
6.2.3. By End-Users
6.2.4. By Country
6.2.4.1. United States
6.2.4.2. Canada
7. Europe Advanced Wound Care Market
7.1. Market Size & Forecast by Value, 2020-2027
7.1.1. By Value (USD Million)
7.1.2. By Volume (Million Unit)
7.2. Market Share & Forecast
7.2.1. By Product
7.2.2. By Wound Type
7.2.3. By End-Users
7.2.4. By Country
7.2.4.1. Germany
7.2.4.2. Poland
7.2.4.3. Russia
7.2.4.4. Italy
7.2.4.5. France
7.2.4.6. United Kingdom
7.2.4.7. Spain
7.2.4.8. Rest of Europe
8. Asia Pacific Advanced Wound Care Market
8.1. Market Size & Forecast by Value, 2020-2027
8.1.1. By Value (USD Million)
8.1.2. By Volume (Million Unit)
8.2. Market Share & Forecast
8.2.1. By Product
8.2.2. By Wound Type
8.2.3. By End-Users
8.2.4. By Country
8.2.4.1. China
8.2.4.2. India
8.2.4.3. Japan
8.2.4.4. Malaysia
8.2.4.5. Singapore
8.2.4.6. Rest of Asia Pacific
9. Latin America Advanced Wound Care Market
9.1. Market Size & Forecast by Value, 2020-2027
9.1.1. By Value (USD Million)
9.2. Market Share & Forecast
9.2.1. By Product
9.2.2. By Wound Type
9.2.3. By End-Users
9.2.4. By Country
9.2.4.1. Brazil
9.2.4.2. Mexico
9.2.4.3. Rest of Latin America
10. Middle East & Africa Advanced Wound Care Market
10.1. Market Size & Forecast by Value, 2020-2027
10.1.1. By Value (USD Million)
10.1.2. By Volume (Million Unit)
10.2. Market Share & Forecast
10.2.1. By Product
10.2.2. By Wound Type
10.2.3. By End-Users
10.2.4. By Country
10.2.4.1. Saudi Arabia
10.2.4.2. GCC
10.2.4.3. UAE
10.2.4.4. South Africa
10.2.4.5. Rest of Middle East & Africa
11. Competitive Landscape
11.1. List of Key Players and Their Offerings
11.2. Market/Ranking Share Analysis
11.3. Competitive Benchmarking, By Operating Parameters
12. COVID-19 Impact
12.1. Future Impact
12.2. Key Developments during COVID-19
12.3. Impact on Market
12.3.1. Different Scenario
12.3.2. Impact on Companies
12.4. Regional Impact
13. Key Strategic Recommendations
14. Company Profile (Company Overview, Financial Matrix, Competitive landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook)
14.1. Smith & Nephew
14.2. Mölnlycke Health Care
14.3. Paul Hartmann
14.4. Covidien
14.5. ConvaTec
14.6. B. Braun Melsungen
14.7. BSN medical
14.8. 3M Health Care
14.9. Systagenix Wound Management
14.10. Derma Sciences
14.11. Coloplast
14.12. Laboratoires Urgo
14.13. Johnson & Johnson
14.14. Kinetic Concepts, Inc
14.15. Other Prominent Players
Market Segmentation
By Product
- Foam Dressings
- Film Dressings
By Wound Type
- Surgical
- Trauma
- Burns
- Ulcers
- Diabetic Foot
- Others
By End User
- Hospitals & Clinics
- Ambulatory Care Centers
- Wound Care Centers
- Others
By Region
- North America
- Latin America
- Europe
- The Asia Pacific
- The Middle East
- Africa
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