Advance Wound Care Market Synopsis

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 that are used in managing acute and chronic wounds such as ulcers, burns, and post-operative and traumatic wound. Film and foam dressings, hydrogels, alginates, and hydrocolloids, which are used in advanced wound care treatments, help to maintain wetness of the wound area without hinder further healing. The chronic wound population can take advantage of the advanced wound care industry where they offer patients Foods and other related products that can be freely accessed by patients and at a compare price to what the traditional one was taken, and this can be used at the patient ‘s convenient time.

• The advanced wound care market has expanded over the years due to the increasing popularity of evidence-based treatments on chronic wounds, increased accessibility of innovative therapy tools, and enhanced expansion of the geriatric population. Further, the growth in the occurrence of chronic ailments including diabetes and obesity, and the improvement in per capita income especially in emergent markets boosts the consumption of modern treatments in wound care. For instance, data from the National Diabetes Statistics Report indicate that the CDC, 2022 estimated that 37 percent of the US population should be classified as either prediabetes or diabetes. It was estimated that 3 million people were with diabetes in the U. S The increasing prevalence of diabetes renders individuals with diabetes are at increased risk of developing foot ulcers or diseases, which in turn increases the need for better treatment to alleviate this pain.
• Some of the most important drivers stimulating the market growth are the growing diabetes rates, the rising population of patients of a advanced age along with technological progress of products for wound care management. Diabetes has been a prevalent disease globally and with the increasing rate of this diseases, the demand for the advanced wound care market will increase as well. Diabetes is one of the leading risk factors for foot ulcers, and people with diabetes are often affected by various foot complications, so increasing the number of diabetics will also increase the number of people suffering from foot ulcers. For instance, National Diabetes Statistics Report by Centers for Disease Control and Prevention (CDC) in 2022 revealed that approximately 50% of the population in the U. S has diabetes or prediabetes, and since the incidence rate of diabetes is increasing, the request for a better method of handling diabetic foot ulcers also increases accordingly.
• Furthermore, they have a higher rate of reestablishment of function, than wound care and closure products, which are propelling the market at a fast pace. It is important to note that there are constant developments in the medical field, particularly when it comes to advanced wound care & closure products, which is also expected to enhance the market even more within the forecast period.
• Another factor that fuels growth in the advanced wound care market is the increased life expectancy as a result of improved healthcare and an improved economy. The elderly are also more prone to chronic diseases like diabetes end-organ disease, neuropathy, and peripheral vascular disease, which are risk factors for foot ulceration. An aging population presents the necessity of treatment and intervention for the diabetic foot ulcers as more stakeholders are being affected by the condition.
• Moreover, in diabetic foot ulcer cases, significant improvement in technologies used in wound management have been registered. There have been advanced developments in the dressings, the bioactive materials, the negative pressure wound therapy NPWT and hyperbaric oxygen therapy  HBOT that have made recipients’ wound heal faster. Advanced technologies also drive establishments and customers, including healthcare practitioners and patients, hence generating demand in the advanced wound care market.

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Advance Wound Care Market Trend Analysis

Global rise in geriatric population

• The global geriatric population and the rate of people surviving traumatic injuries, higher tendencies of surgeries, and growing rates of illnesses such as obesity and diabetes, among others are factors that have enhanced the occurrence of acute, chronic and surgical wounds in the last decade. Complication such as diabetes and obesity can hike incidence andacerbate wounds and infections such as leg or foot ulcers and chronic wounds which requires treatment: advanced wound care or management; incurring high costs.

Rising number of hospital visits for wound treatment

• The increasing frequency and incidence of hospitalization for wound management as well as the growing complexity of wounds will continue to drive the advanced wound care segment. The hospital segment’s expansion will be bolstered by the increased healthcare expenditures to enhance patient care and overall operations, and a vast amount of therapeutic procedures conducted in hospitals. Moreover, awareness of hospital-acquired pressure ulcers escalating in number adds to the need for better wound care and enhancing the industry’s revenue.
• Moreover, new and entries increasing numbers of government bodies and their working towards the growth of awareness among the people will be the factors which will boost the advanced wound care market growth rate. Another factor that contributed to the growth of market is technology development which have contributed immensely to the growth of market. In addition, the rising health care expenditure capacity and improvement in health care facility are the two crucial factors that will act as the key factors to the growth of market. One of the major factors driving the advanced wound care market is the growing number of surgeries, both in developed as well as developing countries, will also have positive impact on the market growth rate.

Advance Wound Care Market Segment Analysis:

Advance Wound Care Market is segmented based on Product, Application, and End-Use.

By Product, wound care segment is expected to dominate the market during the forecast period

• Based on the type of product, the moist wound care segment dominated the market with a revenue market of approximately 71% in the year 2023. These dominance could be due to several factors including the rise in number of wound cases as well as rise in global surgeries. For instance, as per the data obtained from the Life Span Organization, approximately 500,000 individuals went through open heart surgery in the U. S. in 2018. Further, AHA Journals reported that around 40,000 children every year make use of congenital heart surgery in the U. S Since congenital heart surgery involve several take time to heal, advanced wound care products are helpful in healing of such wounds with in short span hence, the market of advanced wound care propel during the forecast period.
• They are most suitable to the active wound care segment that is expected to exhibit the highest CAGR during the forecast period among the three segments. The increasing rates of chronic diseases, such diabetes or obesity, which may delay the wound healing process, can be considered among the key trends of the segment in the forecast period. Besides, the active wound care market is growing resulting from an increased elderly population and higher numbers of surgeries performed in various parts of the world. For this reason, these factors are expected to drive segment growth in the forecast period.

By Application, chronic wounds segment held the largest share in 2023

• By application, the chronic wounds segment lies at the forefront in the market with the highest revenue in 2023. The segment is likely to experience high growth due to the prevalence of cases like diabetic foot ulcers, venous pressure ulcers, and other chronic wounds. For example, the Agency for Healthcare Research and Quality reports over 2. Pressure ulcers occur in over 5 million people in the U. S. annually. Likewise, NCBI says the prevalence of pressure ulcers in a clinical area may be as low as 4% and high as 38%. Moreover, CDC’s current estimates show that in 2022, 37% of adults in the United States have been diagnosed with chronic conditions. 3 million people, i. e. , 11 per cent of the Lithuanian population, are ethnic Poles, according to the 2001 census. The prevalence of diabetes in the United States while indicating the current U. S. population of about 325 million people showed that about 3% of the total population had diabetes. These factors would increase the prevalence of diabetic foot ulceration, and the subsequent demand for chronic wound care solutions.

Advance Wound Care Market Regional Insights:

North America is Expected to Dominate the Market Over the Forecast period

• The geographical segment of the market indicated that North America has the highest revenue share of 45% in the year 2023. This domination can be explained by the sound health care and improved surgical techniques and many operations being performed. For example, the annual statistic done by the American Society of Plastic Surgeons shows that the requested operations for the breast augmentation are about 23. As it is stated, it is predicted that 6,040,000 people in the U. S. opted for minimally invasive cosmetic surgical operations in 2022. Advanced wound care products are, therefore, commonly employed to address problems with surgical site infections. Moreover, a rise in cases of accidents like road traffic, accidents, burns, and trauma incidences in the region are expected to fuel the market growth.

Active Key Players in the Advance Wound Care Market

• ConvaTec Group PLC
• Smith & Nephew PLC
• Mölnlycke Health Care AB
• B. Braun Melsungen AG
• 3M
• URGO
• Coloplast Corp.
• Integra LifeSciences
• Medline Industries, Inc.
• Other Key Players

Key Industry Developments in the Advance Wound Care Market:

• DuPont merged in October 2023 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 for bonding of 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 wound with low to moderate amount of exudate; softened tissue injuries, diabetic foot ulcers, venous leg ulcers and arterial leg ulcers.

1. INTRODUCTION
   1. RESEARCH OBJECTIVES
   2. RESEARCH METHODOLOGY
   3. RESEARCH PROCESS
   4. SCOPE AND COVERAGE
      1. Market Definition
      2. Key Questions Answered
   5. MARKET SEGMENTATION
2. EXECUTIVE SUMMARY
3. MARKET OVERVIEW
4. GROWTH OPPORTUNITIES BY SEGMENT
5. MARKET LANDSCAPE
   1. PORTER’S FIVE FORCES ANALYSIS
      1. Bargaining Power Of Supplier
      2. Threat Of New Entrants
      3. Threat Of Substitutes
      4. Competitive Rivalry
      5. Bargaining Power Among Buyers
   2. INDUSTRY VALUE CHAIN ANALYSIS
   3. MARKET DYNAMICS
      1. Drivers
      2. Restraints
      3. Opportunities
      4. Challenges
   4. MARKET TREND ANALYSIS
   5. REGULATORY LANDSCAPE
   6. PESTLE ANALYSIS
   7. PRICE TREND ANALYSIS
   8. PATENT ANALYSIS
   9. TECHNOLOGY EVALUATION
   10. MARKET IMPACT OF THE RUSSIA-UKRAINE WAR
       1. Geopolitical Market Disruptions
       2. Supply Chain Disruptions
       3. Instability in Emerging Markets
   11. ECOSYSTEM
6. ADVANCE WOUND CARE MARKET BY PRODUCT (2017-2032)
   1. ADVANCE WOUND CARE MARKET SNAPSHOT AND GROWTH ENGINE
   2. MARKET OVERVIEW
   3. MOIST
      1. Introduction And Market Overview
      2. Historic And Forecasted Market Size in Value (2017 – 2032F)
      3. Historic And Forecasted Market Size in Volume (2017 – 2032F)
      4. Key Market Trends, Growth Factors And Opportunities
      5. Geographic Segmentation Analysis
   4. ANTIMICROBIAL
   5. ACTIVE
7. ADVANCE WOUND CARE MARKET BY APPLICATION (2017-2032)
   1. ADVANCE WOUND CARE MARKET SNAPSHOT AND GROWTH ENGINE
   2. MARKET OVERVIEW
   3. CHRONIC WOUNDS
      1. Introduction And Market Overview
      2. Historic And Forecasted Market Size in Value (2017 – 2032F)
      3. Historic And Forecasted Market Size in Volume (2017 – 2032F)
      4. Key Market Trends, Growth Factors And Opportunities
      5. Geographic Segmentation Analysis
   4. ACUTE WOUNDS
8. ADVANCE WOUND CARE MARKET BY END-USE (2017-2032)
   1. ADVANCE WOUND CARE MARKET SNAPSHOT AND GROWTH ENGINE
   2. MARKET OVERVIEW
   3. HOSPITALS
      1. Introduction And Market Overview
      2. Historic And Forecasted Market Size in Value (2017 – 2032F)
      3. Historic And Forecasted Market Size in Volume (2017 – 2032F)
      4. Key Market Trends, Growth Factors And Opportunities
      5. Geographic Segmentation Analysis
   4. SPECIALTY CLINICS
   5. HOME HEALTHCARE
   6. OTHERS
9. COMPANY PROFILES AND COMPETITIVE ANALYSIS
   1. COMPETITIVE LANDSCAPE
      1. Competitive Positioning
      2. Advance Wound Care Market Share By Manufacturer (2023)
      3. Industry BCG Matrix
      4. Heat Map Analysis
      5. Mergers & Acquisitions
   2. CONVATEC GROUP PLC
      1. Company Overview
      2. Key Executives
      3. Company Snapshot
      4. Role of the Company in the Market
      5. Sustainability and Social Responsibility
      6. Operating Business Segments
      7. Product Portfolio
      8. Business Performance (Production Volume, Sales Volume, Sales Margin, Production Capacity, Capacity Utilization Rate)
      9. Key Strategic Moves And Recent Developments
      10. SWOT Analysis
   3. SMITH & NEPHEW PLC
   4. MÖLNLYCKE HEALTH CARE AB
   5. B. BRAUN MELSUNGEN AG
   6. 3M
   7. URGO
   8. COLOPLAST CORP.
   9. INTEGRA LIFESCIENCES
   10. MEDLINE INDUSTRIES, INC.
10. GLOBAL ADVANCE WOUND CARE MARKET BY REGION
    1. OVERVIEW
    2. NORTH AMERICA
       1. Key Market Trends, Growth Factors And Opportunities
       2. Key Manufacturers
       3. Historic And Forecasted Market Size By Product
       4. Historic And Forecasted Market Size By Application
       5. Historic And Forecasted Market Size By End-use
       6. Historic And Forecasted Market Size By Country
          1. USA
          2. Canada
          3. Mexico
    3. EASTERN EUROPE
       1. Key Market Trends, Growth Factors And Opportunities
       2. Key Manufacturers
       3. Historic And Forecasted Market Size By Segments
       4. Historic And Forecasted Market Size By Country
          1. Russia
          2. Bulgaria
          3. The Czech Republic
          4. Hungary
          5. Poland
          6. Romania
          7. Rest Of Eastern Europe
    4. WESTERN EUROPE
       1. Key Market Trends, Growth Factors And Opportunities
       2. Key Manufacturers
       3. Historic And Forecasted Market Size By Segments
       4. Historic And Forecasted Market Size By Country
          1. Germany
          2. United Kingdom
          3. France
          4. The Netherlands
          5. Italy
          6. Spain
          7. Rest Of Western Europe
    5. ASIA PACIFIC
       1. Key Market Trends, Growth Factors And Opportunities
       2. Key Manufacturers
       3. Historic And Forecasted Market Size By Segments
       4. Historic And Forecasted Market Size By Country
          1. China
          2. India
          3. Japan
          4. South Korea
          5. Malaysia
          6. Thailand
          7. Vietnam
          8. The Philippines
          9. Australia
          10. New-Zealand
          11. Rest Of APAC
    6. MIDDLE EAST & AFRICA
       1. Key Market Trends, Growth Factors And Opportunities
       2. Key Manufacturers
       3. Historic And Forecasted Market Size By Segments
       4. Historic And Forecasted Market Size By Country
          1. Turkey
          2. Bahrain
          3. Kuwait
          4. Saudi Arabia
          5. Qatar
          6. UAE
          7. Israel
          8. South Africa
    7. SOUTH AMERICA
       1. Key Market Trends, Growth Factors And Opportunities
       2. Key Manufacturers
       3. Historic And Forecasted Market Size By Segments
       4. Historic And Forecasted Market Size By Country
          1. Brazil
          2. Argentina
          3. Rest of South America
11. INVESTMENT ANALYSIS
12. ANALYST VIEWPOINT AND CONCLUSION
    1. Recommendations and Concluding Analysis
    2. Potential Market Strategies