Global Advanced Wound Care Management Market to Surpass US$ 18.4 Billion by 2027, Says CMI

SEATTLE, April 15, 2020 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, the global advanced wound care management market was estimated to be valued at US$ 10,911.2 million in 2019 and is expected to exhibit a CAGR of 6.8% over the forecast period (2019-2027).

Key Trends and Analysis of the Advanced Wound Care Management Market:

Key trends in the market include rising number of cases of ulcers and injuries, technological advancements in products for wound management and increasing adoption of growth strategies such as acquisitions, collaborations, and product launches by market players.

The increasing number of product approvals from regulatory agencies, and product launches are expected to propel the market growth over the forecast period. For instance, on 3^rd March 2020, Smith & Nephew plc, launched PICO 14 Single Use Negative Pressure Wound Therapy System, in the U.S. The system has pump duration of 14 days and have enhanced pump, which is used in deep and large wounds with less user intervention.

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The factors impacting growth of the advanced wound care management market include rising number of accidents, bone injuries, and trauma. For instance, according to the World Health Organization’s 2017 data, road accidents account for around 20 and 50 million injuries every year, and are the leading cause of death among people in the age group of 15-29.

Moreover, increasing number of diabetic patients prone to wound healing problems or non-healing diabetic foot ulcers is expected to drive the market growth during the forecast period. For instance, according to an article published in the National Center for Biotechnology Information, March 2017, diabetic foot ulcers are the most common complication in diabetic patients with an annual incidence rate of 6.3% globally. Moreover, the life time risk of foot ulcers in diabetic patients is around 19% to 34%.

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Key Market Takeaways:

• The advanced wound care management market is expected to exhibit a CAGR of 6.8% during the forecast period (2019-2027), owing to the rising number of traumatic wounds and diabetic foot ulcers, advancements in technology in dressing and wound care management devices, and increasing adoption of growth strategies such as acquisitions, collaborations, and product launches by market players. For instance, in May 2018, the Wound and Skin Care Division of Coloplast U.S., launched Biatain Silicone with 3DFit Technology. The Biatain Silicone has wide range portfolio of foam dressings, which can be used in management of wound and prevention of pressure injury.
• Key players are focused on adopting growth strategies such as product launches, collaborations, and acquisitions for enhancing their product offerings in the potential market, which in turn is expected to propel the market growth over the forecast period. For instance, in October 2019, 3M Company acquired Acelity and its subsidiaries KCI, a provider of wound care and surgical products under the KCI brand. The acquisition strengthened 3M’s market share in the global advanced wound care management market.

Key players operating in the global advanced wound care management market include—

Johnson and Johnson, 3M Company, Baxter International, Coloplast, Integra Life Sciences, Kinetic Concepts, Medtronic, Leap Therapeutics, and Hematris Wound Care GmbH

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Market Segmentation:

• Global Advanced Wound Care Management Market, By Product Type:
  • Moist Wound Dressings
    • • Foam Dressings
      • Hydrocolloid Dressings
      • Film Dressings
      • Alginate Dressings
      • Hydrogel Dressings
      • Collagen Dressings
  • Wound Therapy Devices

• • • • Pressure Relief Devices
      • Negative Pressure Wound Therapy Systems
      • Hyperbaric Oxygen Equipment
      • Electrical Stimulation Devices
  • Active Wound Care

• • • • Artificial Skin and Substitutes
      • Topical Agents
• Global Advanced Wound Care Management Market, By Wound Type:
  • Surgical Wounds
    • Ulcers
      • Pressure Ulcers
      • Diabetic Foot Ulcers
      • Venous Ulcers
  • Traumatic Wounds
  • Burns
  • Other Wounds
• Global Advanced Wound Care Management Market, By End User:
  • Hospitals
  • Clinics
  • Ambulatory Surgical Centers
• Global Advanced Wound Care Management Market, By Region:
  • North America
    • By Country:
      • U.S.
      • Canada
  • Latin America
    • By Country:
      • Brazil
      • Mexico
      • Argentina
      • Rest of Latin America
  • Europe
    • By Country:
      • Germany
      • U.K.
      • France
      • Italy
      • Spain
      • Russia
      • Rest of Europe
  • Asia Pacific
    • By Country:
      • China
      • India
      • Japan
      • Australia
      • South Korea
      • ASEAN
      • Rest of Asia Pacific
  • Middle East
    • By Country:
      • GCC
      • Israel
      • Rest of Middle East
  • Africa
    • By Country/Region:
      • South Africa
      • Central Africa
      • North Africa