Advance Wound Care Market In-Depth Analysis, Growth Strategies and Comprehensive Forecast to 2033
The Advance Wound Care Market is projected to be valued at US$ 11.5 Billion in 2023 and is expected to rise to US$ 17.4 Billion by 2033. The sales of advanced wound care are expected to grow at a significant CAGR of 4.2% during the forecast period.
The growing global geriatric population, as well as the growing
incidences of ulcers, diabetic ulcers, and other chronic wounds, are key
factors driving the market.
Furthermore, the rising prevalence of diabetes and obesity and a
significant increase in the need for surgical procedures around the world
fueling demand for advanced wound care products. In line with this, rising
consumer awareness of the proven benefits and effectiveness of these products
is driving up global sales.
Advanced Wound Management refers to the use of
specialized wound care products and techniques to promote the healing of
chronic or difficult-to-heal wounds.
In addition, technological developments in improved wound care products
are fueling market expansion.
- For instance,
bioactive molecules across the applied area maintain the drug release and
enhance the therapeutic benefits of pharmaceuticals in nanoparticle-based
wound healing and skin regeneration.
The increase of ambulatory surgical centres (ASCs), which offer surgical
care for pain management, orthopaedics, urology, restorative, organ
transplantation, and reconstructive surgeries, is being driven by the expansion
of these facilities.
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Key Takeaways from the Automotive Refinish Coatings
- Wound cleaner
is expected to expand at the fastest rate (5.6%) among all items.
Protection against loose debris and planktonic bacteria to create an ideal
healing environment will boost the growth of the wound cleansers market.
- Institutional
sales are the most preferred distributional channel growing with an
impressive rate of 4.8% due to an increase in surgical wound cases brought
on by a rise in surgical procedures.
- The U.S. will
generate a revenue of USD 5.7 Bn by 2033 due to their advance healthcare
setup and growing investments on healthcare technologies.
- With a market
share of more than 40% Asia Pacific advance wound care industry, India's
advance wound care market is anticipated to expand at a CAGR of 6.4%. The
rising number of product approvals and launches, distribution contracts,
and mergers and acquisitions are all factors contributing to the country's
growth.
- It is projected
that product releases and other strategic moves made by Japan's industry
participants will hasten market expansion and contribute a revenue of USD
1.2 Bn by 2033.
Manufacturers are constantly evolving business models
With a large number of participants, the advanced wound care management
market is extremely fragmented. Patients with chronic wounds enjoy better
quality of life as technology develops and becomes more practical. Due to their
efficiency and effectiveness in managing wounds by facilitating faster healing,
modern wound care management and closure solutions are progressively replacing
traditional wound care and closure treatments. In order to increase their
market presence through mergers, acquisitions, partnerships, collaborations,
new product launches, etc., industry players are concentrating on a variety of
growth tactics.
Latest Developments
- The 3M V.A.C.
Therapy negative pressure wound therapy (NPWT) reached a clinical evidence
milestone of 2,000 published, peer-reviewed medical journal articles in
October 2022, according to a release from 3M Health Care's Medical
Solutions Division. The first and only NPWT treatment to have as many
published research about its therapy is V.A.C. Therapy.
- Evonik and
Coopmed, a medical technology consulting and sales organisation, signed a
contract in September 2022 for the distribution of the wound dressing Epicite.
Starting right away, Coopmed will only provide the German market with
Epicite, a biosynthetic cellulose-based product for managing chronic
wounds.
Some of the Key Players Operating in Advance Wound Care Market Include:
- Smith &
Nephew
- Molnlycke
Health Care AB
- ConvaTec Group
PLC
- Baxter
International
- URGO Medical
- Coloplast Corp.
- Medtronic
- 3M
- Derma Sciences
Inc. (Integra LifeSciences)
- Medline
Industries
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Key Segments Covered in the Advance Wound Care Market Report
Product :
- Hydrogels
Dressings
- Antimicrobial
Hydrogel Dressings
- Non-Antimicrobial
Hydrogel Dressings
- Semi-Permeable
Films Dressings
- Semi-Permeable
Films Dressings
- Antimicrobial
Bordered Film Dressings
- Antimicrobial
Non-Bordered Film Dressings
- Semi-Permeable
Films Dressings
- Non-Antimicrobial
Bordered Film Dressings
- Non-Antimicrobial
Non-Bordered Film Dressings
- Alginate
Dressings
- Antimicrobial
Alginate Dressings
- Non-Antimicrobial
Alginate Dressings
- Foam Dressings
- Antimicrobial
Foam Dressings
- Antimicrobial
Bordered Foam Dressings
- Antimicrobial
Non-Bordered Foam Dressings
- Non-Antimicrobial
Foam Dressings
- Hydrocolloid
Dressings
- Antimicrobial
Hydrocolloid Dressings
- Non-Antimicrobial
Hydrocolloid Dressings
- Collagen
Dressings
- Antimicrobial
Collagen Dressing
- Non-Antimicrobial
Collagen Dressing
- Contact Layer
- Antimicrobial
Wound Contact Layers
- Non-Antimicrobial
Wound Contact Layers
- Super Absorbent
Dressings
- Antimicrobial
Super Absorbent Dressings
- Non-Antimicrobial
Super Absorbent Dressings
- Compression
System
- 2 Layer
Compression System
- 3 Layer
Compression System
- 4 Layer
Compression System
- Antimicrobial
Gels
- Antimicrobial
Powder
- Concentrated
Surfactant
- Skin
Protectants
- Wound Cleansers
- Honey Dressings
- Unna Boots
- Tapes
Distribution Channel :
- Institutional
Sales
- Hospitals
- Long Term Care
Centers
- Retail Sales
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