Advance Wound Care Market
According to a new report published by Introspective Market Research, titled, “Advance Wound Care Market by Application and Packaging Type: Global Opportunity Analysis and Industry Forecast, 2024–2032,”
the Advance Wound Care Market Size Was Valued at USD 10.7 Billion in 2023 and is Projected to Reach USD 16.2 Billion by 2032, Growing at a CAGR of 4.7% From 2024-2032.
Advanced wound care products include products used to treat acute and chronic wounds such as ulcers, burns, post-surgical and traumatic wounds. Film and foam dressings, hydrogels, alginates, and hydrocolloids used in advanced wound care help maintain moisture in the wound area without inhibiting healing. The chronic wound population can take advantage of an advanced wound care industry that provides food and related products that are freely available to patients comparable in cost to conventional consumption, and can be used by the patient. Free time The advanced wound care market has expanded over the years due to the increasing popularity of evidence-based treatments for chronic wounds, increased availability of innovative treatments, and increased expansion of the geriatric population.
According to the Advance Wound Care Market is segmented into product, application, end-use, and region. By product, the market is categorized into Moist, Antimicrobial, Active. By application, the market is categorized into Chronic Wounds and acute Wounds. By end-use, the market is categorized into Hospitals, Specialty Clinics, Home Healthcare, and Others. By region, it is analyzed across North America (U.S.; Canada; Mexico), Europe (Germany; U.K.; France; Italy; Russia; Spain, etc.), Asia-Pacific (China; India; Japan; Southeast Asia, etc.), South America (Brazil; Argentina, etc.), Middle East & Africa (Saudi Arabia; South Africa, etc.).
The aging population of the world the number of survivors of traumatic injuries, the increase in surgery, and the appearance of diseases such as obesity and diabetes are among the factors that have increased the incidence of acute, chronic, and surgical injuries in the last decade. Complications such as diabetes and obesity can increase the incidence and worsen wounds and infections such as foot or leg ulcers and chronic wounds that require treatment: advanced wound care or treatment; brings high costs.
The increase and incidence of wound care-related hospitalizations and the increasing complexity of injuries continue to drive the advanced wound care segment. The expansion of the hospital segment is supported by increased spending on healthcare to improve patient care and general operations and the large number of medical procedures performed in hospitals. In addition, awareness of the increasing incidence of hospital-acquired pressure ulcers increases the need to improve wound care and improve industry revenue. In addition, new entrants, an increasing number of government agencies, and their work to create awareness among people are the factors that will boost the growth of the advanced wound care market. Another factor that has contributed to the growth of the market is the advancement of technology, which has greatly contributed to the growth of the market.
Global Advance Wound Care Market, Segmentation
The Advance Wound Care Market is segmented based on Product, Application, End-Use, and region.
Product:
The Product segment is further classified into Moist, Antimicrobial, and Active. Among these, the wound care sub-segment accounted for the highest market share in 2023. Depending on the product type, the wet wound care segment dominated the market in 2023 with approximately 71% of the sales revenue market. This dominance may have been due to various factors such as the increase in the number of injury cases and the increase in numbers. of injury cases. global operations. For example, according to the Life Expectancy Organization, approximately 500,000 people underwent open heart surgery in the United States in 2018. Additionally, the AHA Journals reports that approximately 40,000 children in the United States undergo congenital heart surgery each year. As congenital heart surgery takes several years to heal, advanced wound care products will contribute to the healing of such wounds in the short term, and the market for advanced wound care propellants over the forecast period. These are best suited to the active wound care segment, which is expected to have the highest CAGR among the three segments during the forecast period.
Application:
The application segment is further classified into Chronic Wounds and acute Wounds. Among these, the chronic wounds sub-segment is anticipated to show the fastest growth by 2032. the chronic wounds segment will lead the market with the highest sales revenue in 2023. This segment is likely to grow rapidly due to the increasing incidence of diabetic foot ulcers, venous pressure ulcers, and other chronic wounds. For example, the Agency for Healthcare Research and Quality reports that more than 2. Pressure ulcers occur in more than 5 million people in the United States. per year NCBI also says that the incidence of pressure ulcers in the clinical range can be as low as 4% and as high as 38%. Additionally, current CDC estimates indicate that by 2022, 37 percent of American adults will be diagnosed with a chronic disease. 3 million people, i.e. According to the 2001 census, 11 percent of the population of Lithuania are ethnic Poles. The prevalence of diabetes in the United States showed that the current population of the United States is about 325 million people and it showed that about 3 percent of the total population has diabetes.
Region:
The Advance Wound Care Market in North America is projected to show the fastest growth by 2032. The geographic segmentation of the market showed that in 2023, North America will account for the largest share of revenues - 45%. This dominance can be explained by reliable health care advanced surgical techniques and the many surgeries performed. For example, the annual statistics of the American Society of Plastic Surgeons show that breast augmentation surgery is requested around 23. That said, 6,040,000 people in the United States are expected. opted for minimally invasive cosmetic surgery procedures in 2022. Therefore, advanced wound care products are often used to treat surgical infection problems. Additionally, the increase in road accidents such as road accidents, burns, and trauma cases in the region is expected to boost the market growth.
Some of The Leading/Active Market Players Are-
- ConvaTec Group PLC
- Smith & Nephew PLC
- Mölnlycke Health Care AB
- B. Braun Melsungen AG
- 3Mand
- URGO
- Coloplast Corp.
- Integra LifeSciences
- Medline Industries, Inc. and Other Active Players
Key Industry Developments
- In October 2023, DuPont merged a new soft skin adhesive (SSA) DuPont Liveo MG 7-9960 with enhanced adhesion and lower cyclic silicone. This new formulation has been intended for use in wound care dressings and bonding medical appliances to the skin for longer periods with easy stripping.
- In June 2023, JeNaCell launched the epicite balancing wound dressing in Germany for wound care. This type of dressing is best applied and suited for chronic wounds with low to moderate amounts of exudate; softened tissue injuries, diabetic foot ulcers, venous leg ulcers, and arterial leg ulcers.
Key Findings of the Study
- The market size for advanced wound care was valued at USD 10.7 billion in 2023 and is projected to reach USD 16.2 billion by 2032, growing at a CAGR of 4.7% during the forecast period (2024-2032).
- The market is segmented based on product, application, end-user, and region. Moist wound care products dominated the market in 2023, with the chronic wounds application segment-leading in terms of sales revenue.
- Factors driving market growth include an aging population, increasing incidents of traumatic injuries, a rise in surgical procedures, and the prevalence of diseases like obesity and diabetes, leading to a higher demand for advanced wound care products.
- North America accounted for the largest share of revenues in 2023 (45%), attributed to advanced healthcare infrastructure, a high number of surgeries, and an increase in road accidents and trauma cases, driving the adoption of advanced wound care products.
