According to the latest report by IMARC Group, titled “Advanced Wound Care Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” offers a comprehensive analysis of the industry, which comprises insights on the global advanced wound care market share.The report also includes competitor and regional analysis, and contemporary advancements in the market.
The global advanced wound care market size reached US$ 10.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach a value of US$ 14.4 Billion by 2028, exhibiting a growth rate (CAGR) of 5.98% during 2023-2028.
Advanced wound care refers to a standard treatment solution used to treat and manage chronic infections and complex wounds by removing dead and inflamed tissues. It involves the use of medicines, tools, and numerous products that aid in the treatment of both acute and chronic wounds, including burns, ulcers, and post-operative wounds.
Advanced wound care products made of silver and alginates are commonly used to drain excess fluid from wounds and protect them from infections. Some other popular products include hydrogels, hydrocolloids, film, and foam dressings. They help retain skin moisture and speed up internal and external wound healing by promoting the development of new body cells. As a result, advanced wound care solutions are gaining immense traction across the globe.
The global advanced wound care market is primarily driven by the rising geriatric population and increasing prevalence of diabetic foot ulcers, pressure ulcers, and other chronic wounds. Moreover, the growing need for surgical procedures due to the increasing incidences of diabetes and obesity has augmented the demand for advanced wound care solutions as they help absorb necrotic tissues and promote the quick healing of surgical site infections.
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Additionally, the surging awareness about the benefits and efficiency of these products among the masses is positively influencing market growth.Besides this, the rising establishment of Ambulatory Surgical Centers (ASCs) that offer surgical care for organ transplantation, pain management, orthopedics, urology, restorative, and reconstructive surgeries has catalyzed the market growth. Furthermore, numerous technological innovations in advanced wound care products are propelling the market growth. Other factors, rapid improvements in healthcare infrastructure, an increasing number of patients, and increasing healthcare expenditures, are also anticipated to drive the market further.
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
3M Company, B. Braun SE (B. Braun Holding GmbH Co. KG), Cardinal Health, Inc., Coloplast A/S, Convatec Group plc, Essity AB, Integra LifeSciences, Medline Industries, LP, Medtronic plc, Mölnlycke Health Care (Investor AB), Organogenesis Holdings Inc. and Smith Nephew plc
The report has been segmented the market into following categories:
Breakup by Product:
- Silver Wound Dressings
- Non-silver Dressings
- Collagen Dressings
- Hydrocolloids Dressings
- Foam Dressings
- Alginate Dressings
- Hydrogel Dressings
Active Wound Care
- Skin Substitutes
- Growth Factors
- Negative Pressure Wound Therapy (NPWT)
- Oxygen and Hyperbaric Oxygen Equipment
- Electromagnetic Therapy Devices
Breakup by Application:
- Chronic Wounds
- Pressure Ulcers
- Diabetic Foot Ulcers
- Venous Leg Ulcers
- Arterial Ulcers
- Acute Wounds
- Burns and Trauma
- Surgical Wounds
Breakup by End User:
- Community Health Service Centers
- Asia Pacific
- North America
- Middle East and Africa
- Latin America
On the geographical front, Asia Pacific enjoys the leading position in the market. This can be attributed to the rising establishment of international companies in the region, on account of low manufacturing costs and cheap labor.
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