Bioactive Wound Management Market Forecast, Trends by 2031
The Bioactive Wound Management Market Size was estimated to be US$ 1.99 billion in 2021 and US$ XX billion in 2023 and is expected to reach US$ 4.28 billion by 2031; it is estimated to record a CAGR of 8.3% by 2031. 3D Printing in Wound Care Management is likely to remain a key Bioactive Wound Management Market Trend.
Bioactive Wound Management Market Analysis
The rise in the incidence of chronic injuries and an increased number of surgical procedures are contributing to the bioactive wound management market growth. Globally, the prevalence of surgical site infection is anticipated to rise owing to the growing number of surgeries. An increase in the number of surgical procedures globally is due to the rising prevalence of various chronic diseases. According to data provided by the National Institutes of Health (NIH), ~20 million major surgeries are carried out each year in Europe. According to the Dubai Health Authority (DHA), ~159,000 surgeries were performed in Dubai in 2021. Per the same source, the number of people seeking cosmetic surgeries in Dubai doubled from 223,507 in 2020 to 583,909 in 2022. Bioactive wound management products enable rapid healing of surgical site infection; the increasing number of surgical procedures is projected to surge the demand for these products in the near future.
Bioactive Wound Management Market Overview
The North American region held the largest share of the bioactive wound management market. The significant rise in investments for the development of novel products as well as the presence of top pharmaceutical giants in the region is likely to be responsible for the dominance of the market. The North American players have a global network of distribution centers that helps the companies to reach multiple locations across the world. The Asia Pacific region is projected to be the fastest-growing region among all other regions. The growth of the bioactive wound management market is expected to be fastest in countries such as India, China, and Australia. The growth of the market in these countries is expected to be fastest due to the rising prevalence of chronic wounds, increasing diabetic and aging population, and improving healthcare facilities. Furthermore, the presence of active wound care management bodies in the region is offering lucrative opportunities for the growth of the market.
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Bioactive Wound Management Market: Strategic Insights
Market Size Value in US$ 1,751.38 Million in 2019 Market Size Value by US$ 3,057.12 Million by 2027 Growth rate CAGR of 7.3% from 2020-2027 Forecast Period 2020-2027 Base Year 2020
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Bioactive Wound Management Market: Strategic Insights
| Market Size Value in | US$ 1,751.38 Million in 2019 |
| Market Size Value by | US$ 3,057.12 Million by 2027 |
| Growth rate | CAGR of 7.3% from 2020-2027 |
| Forecast Period | 2020-2027 |
| Base Year | 2020 |
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Bioactive Wound Management Market Drivers and Opportunities
Innovation in Advanced Wound Care Products to Favor Market
Several cost-effective wound-healing technologies are being developed to meet the increasing demand. The developments in wound management have led to a shift from simple dressings to advanced wound care products. Advanced wound dressings have been designed to create a moist environment that promotes healing. Keratin-based wound care products are often used in conjunction with these dressings to aid in wound re-epithelialization. These products facilitate faster healing by being absorbed into the wounds, which eliminates the need to frequently change the dressing. Furthermore, the usage of biological scaffold materials including an intact extracellular matrix (ECM) or individual components of the ECM provides new therapeutic options that focus on the wound microenvironment and facilitate rapid restoration of skin.
A few advancements in wound care products are mentioned below:
•Integra Life Sciences offers a wide range of wound management products such as Integra Bilayer Wound Matrix, Integra Meshed Bilayer Wound Matrix, and Integra Flowable Wound Matrix. These are composite of cross-linked bovine collagen, glycosaminoglycan, and silicone covering. These are used in the management of partial and full-thickness wounds, pressure ulcers, venous ulcers, diabetic ulcers, chronic vascular ulcers, and surgical wounds.
•Matristem (ACell Inc.) is a natural ECM scaffold consisting of non-cross-linked porcine UBM-ECM. The primary advantage of UBM-ECM over other natural ECM products is that it retains the urinary bladder’s basement membrane component on one surface of the biological scaffold. The basement membrane functions to anchor epithelial tissues to the ECM in organs such as the skin and blood vessels.
Increasing Research Activities to Introduce Novel Wound Treatments – An Opportunity
Chronic wounds can cause difficulties for surgeons in effectively managing such wounds, leading to further complications. With a growing number of patients suffering from chronic wounds, there is a growing need for a systematic approach to treatment, which has driven the adoption of evidence-based care. Research and clinical trials have shown that the use of bioactive wound care products can improve the healing of moist wounds. Government bodies and research universities play an active role in promoting advancements in wound care, and several research organizations are dedicated to developing advanced wound care products. This is likely to create growth opportunities during the forecast period.
Some instances in this regard are mentioned below:
- In July 2023, Researchers from Queen's University Belfast developed a new treatment for diabetic foot ulcers (DFUs) using a 3D-printed bandage known as a scaffold. This innovative technology combines lipid nanoparticles and hydrogels to create personalized skin-like scaffolds that release both a bulk and sustained release of antibiotic-loaded molecules to treat DFUs. This discovery has the potential to significantly improve the treatment of diabetic ulcers.
- In June 2023, researchers from the University of Birmingham showcased a new technique that demonstrated how silver could retain its antimicrobial properties for longer periods of time when impregnated into 'bioactive glass'. This combination was found to deliver more effective and long-lasting antimicrobial wound protection when compared to more conventional alternatives. Bioactive glasses-a unique class of synthetic biomaterials that have been made from silicone and have been used for several years in bone grafting.
Bioactive Wound Management Market Report Segmentation Analysis
Key segments that contributed to the derivation of the bioactive wound management market analysis are product, application, and end user.
- Based on product, the bioactive wound management market is segmented into bioengineered skin substitutes, collagen-based dressing, antimicrobial dressings, alginates, and hydrocolloids. The alginates segment held the largest market share in 2023.
- By application, the market is segmented into pressure ulcers, diabetic foot ulcers, venous leg ulcers, burn wounds, and surgical wounds. The burn wounds segment held the largest share of the market in 2023.
- In terms of end users, the market is segmented into hospitals & clinics, ambulatory surgical centers, and others. The hospitals & clinics segment dominated the market in 2023.
Bioactive Wound Management Market Share Analysis by Geography
The geographic scope of the bioactive wound management market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America. North America has dominated the bioactive wound management market. The bioactive wound management market in the US is expected to be the largest and fastest-growing due to various factors. Few of the driving factors include the presence of various medical device manufacturers producing bioactive wound management devices and products and, support of the government by providing advanced tools, technology, and experience for optimal wound care. The companies in the US are increasing their presence by following organic and inorganic strategies. For instance, in October 2021, Medline Industries announced an investment of US$ 77.5 million to build a new distribution center in Kansas. Therefore, the increasing need in the US for wound dressing indicates a substantial opportunity for the key players to develop wound care management with innovative products. Asia Pacific is anticipated to grow with the highest CAGR in the coming years.
Bioactive Wound Management Market Report Scope
Bioactive Wound Management Market News and Recent Developments
The bioactive wound management market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for bioactive wound management:
- In July 2022, Smith+Nephew introduced the WOUND COMPASS Clinical Support App. This app is a comprehensive digital tool for healthcare professionals designed to assist in wound assessment and decision-making, with the aim of reducing practice variation. (Source: Smith+Nephew, 2022)
- In June 2022, Medline launched its Optifoam Gentle EX Foam Dressing. The product is designed to help displace pressure when used with pressure injury prevention protocol. The product features five unique layers to help absorb shear force and friction and manage moisture. (Source: Medline, 2022)
- In January 2022, Convatec acquired Triad Life Sciences Inc. The acquisition strengthens Convatec’s Advanced Wound Care position in the US (Focus) and secures access to a complementary and innovative technology platform (Innovation) that enhances advanced wound management and patient outcomes. (Source: Convatec, 2022)
- In February 2021, AxioBiosolutions received CE certification from Europe for its MaxioCel line of next-generation advanced wound care products. This regulatory approval allows Axio to enter the fast-growing USD14 billion advanced wound care market globally. (Source: AxioBiosolutions, 2021)
Bioactive Wound Management Market Report Coverage and Deliverables
The “Bioactive Wound Management Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Market dynamics such as drivers, restraints, and key opportunities
- Key future trends
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
- Detailed company profiles
- Smith+Nephew
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Product ; Application ; End User ; and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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