Report Overview

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

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