Advanced Wound Care Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

Advanced Wound Care market is expected to reach US$ 13,241.8 million by 2031 from US$ 10,133.2 million in 2022, growing at a CAGR of 4.6% from 2022 to 2031.

The report highlights trends prevailing in the market and factors driving its growth. The market's growth is attributed to the rising geriatric population, increasing incidence of diabetic ulcers, and rising prevalence of chronic diseases across the globe. However, high costs of advanced wound care dressing products are hindering the growth of the global advanced wound care market.

North America dominated the advanced wound care market. The US held the largest market share in 2021 and is expected to follow a similar trend over the forecast period. According to the World Health Organization (WHO), in 2017, the proportion of people aged 60 or above was 9.9% and is expected to increase to 13.7% and 20.3% by 2031 and 2050, respectively. Similarly, elderly people (aged ≥ 65) are currently the fastest-growing group of the general population in the US. The National Population Projections by the U.S. Census Bureau 2017 state that nearly one in four U.S. citizens are likely to be older adults by 2060, which is expected to aid the overall market growth. Advanced wound care is mainly needed among the geriatric population as the wounds tend to heal slowly and require much more attention. Bioactive agents such as collagens, hydrogels, alginates, and hydrocolloids are used in different dressing applications that lead to faster recovery of wounds. Hudson Medical Innovations is engaged in providing advanced wound care products to medical professionals and healthcare systems such as hospitals and clinics.

According to the National Library of Medicine, approximately 20% of moderate or severe diabetic foot infections result in lower extremity amputations. The incidence of osteomyelitis is about 20% of diabetic foot ulcers, as reported in 2021. Collagen advanced wound care dressings can be an effective tool in healing diabetic foot wounds. With diabetic foot ulcers being a major contributor to recurring infections, amputation, and death, it is most important to utilize advanced wound care dressings such as collagen to optimize healing. Components of collagen, such as fibroblasts and keratinocytes, are all primary fundamentals in tissue regeneration. Collagen wound dressings such as Medifil II Collagen Particles, Skin Temp II Collagen Sheets, and Collatek Collagen Gel, contain a higher nativity that supports the regulation of extracellular matrix (ECM), thus, supporting and promoting the healing process in a better manner. Such factors are expected to assist the overall growth of the segment.

Strategic Insights

Increase in Incidence of Diabetes to Influence Advanced Wound Care Market

Diabetes is a life-threatening chronic disease with no specialized cure. It prevents the body from adequately regulating blood glucose levels. The prevalence of diabetes is rapidly increasing across the globe. Type 2 diabetes is the most prevalent form of diabetes and has grown alongside cultural and societal changes. In high-income countries, up to 91% of adults with the disease have type 2 diabetes. According to the International Diabetes Federation (IDF), approximately 537 million people were living with diabetes in 2021, and it is expected to reach 643 million by 2031 and 783 million by 2045 across the world.

Diabetes can lead to complications in many body parts, such as diabetic foot ulcers, and increase the risk of premature death. Primary complications include leg amputation. Thus, the rising prevalence of diabetes globally is driving the advanced wound care market.

The Amputation Prevention Centers and Wound Care at Memorial Hermann performs services that helps in preventing lower limb loss and optimize outcomes for patients with chronic, non-healing wounds.

Smith & Nephew, Acelity L.P., Braun Melsungen AG, Integra Lifesciences Corporation, ConvaTec, and 3M are among the leading companies in the global advanced wound care market. The market is anticipated to flourish with the development of new innovative products by market players.

• In March 2021, Smith & Nephew plc (UK) launched the PICO 14 Single-use NPWT System (NPWT) and dressing in the US. The system is portable and clinically effective in the treatment of chronic, acute, traumatic, subacute, and dehisced wounds; partial thickness burns; ulcers (such as diabetic or pressure); flaps and grafts; and closed surgical incisions. The same is primarily used in home care and hospital settings.
• In January 2022, Convatec Group Plc, one of the global medical solutions companies focused on the management of chronic conditions, announced that it had entered into a definitive agreement to acquire Triad Life Sciences Inc. to address unmet clinical needs in surgical wounds, chronic wounds, and burns. The transaction, which is subject to regulatory approvals and other customary conditions, was expected to close during Q1 2022 and the same got completed in 2022 first half his marks the definitive entry for Convatec into the rapidly growing advanced wound biologic section. Regenerative medicine and biologically-derived therapies are frequently used to treat hard-to-heal wounds, which, in the US alone, affect 3.7 million patients each year.

Product Insights

Based on product, the global advanced wound care market is segmented into dressings, devices, and bioactives. The dressings segment is likely to hold the largest market share by 2031. The demand for wound dressings is rising, owing to the increasing technological advancements, rising surgical procedures, and increasing prevalence of chronic wounds across the globe. Advanced wound dressings made of synthetic components as well as from natural sources compared to standardized wound care products lead to faster wound healing and better patient outcomes. Advanced wound care techniques mainly absorb the moisture around the wound. 

Companies operating in the advanced wound care market are adopting the product innovation strategy to meet the evolving customer demands worldwide, allowing them to maintain their brand name in the global advanced wound care market.

Advanced Wound Care Market – Segmentation

The advanced wound care market is bifurcated into type and geography. Based on product, the global advanced wound care market is segmented into dressings, devices, and bioactives. In terms of wound type, the advanced wound care market is segmented into surgical trauma, burns, ulcers, diabetic foot, and others.  Based on end user, the global advanced wound care market is segmented into hospitals & clinics, ambulatory surgical centers, wound care centers, and others. Based on geography, the advanced wound care market is segmented into North America (the US, Canada, and Mexico), Europe (the UK, Germany, France, Italy, Spain, and the Rest of Europe), Asia Pacific (China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific), the Middle East & Africa (the UAE, Saudi Arabia, South Africa, and the Rest of the Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America).

Our research scope includes Smith & Nephew, Acelity L.P., Braun Melsungen AG, Integra Lifesciences Corporation, ConvaTec, and 3M.

REGIONAL FRAMEWORK

Advanced Wound Care Market Report Analysis

MARKET PLAYERS

Advanced Wound Care Market Report Scope