[2020-2027] Advanced Wound Care Market to Exhibit a CAGR of 5.1% and Cross USD 15.59 Billion by 2027; Unmet Patient Needs to Incite Acceptance of Effective Therapies, states Fortune Business Insights™

Key Prominent Players Covered in the Advanced Wound Care Market Research Report Are Smith & Nephew, 3M, MiMedx, Coloplast Corp, ConvaTec Inc., Tissue Regenix, Derma Sciences Inc., Mölnlycke Health Care AB, Organogenesis Inc. and other key market players


Pune, Oct. 23, 2020 (GLOBE NEWSWIRE) -- The global advanced wound care market size is expected to reach USD 15.59 billion by 2027, exhibiting a CAGR of 5.1% during the forecast period. The increasing cases of chronic wounds such as foot ulcers, pressure ulcers, and venous ulcers around the world can be a vital factor in bolstering the growth of the market.

Moreover, the growing treatment of acute wounds in the developing nations will promote the growth of the market in the forthcoming years, states Fortune Business Insights in a report, titled “Advanced Wound Care Market Size, Share & Industry Analysis, By Product (Advanced Wound Dressings, Wound Care Devices, Active Wound Care), By Indication (Diabetic Foot Ulcers, Pressure Ulcers, Surgical Wounds, and Others), By End, User (Hospitals, Clinics, Homecare Settings, and Others), and Regional Forecast, 2020-2027” the market size stood at USD 10.43 billion in 2019. The advancement in treatment methods of wounds will create lucrative business openings for the market.


Key Development:

February 2019: Axio Biosolutions Pvt. Ltd., a medtech R&D, and Manufacturing Company concentrated on surgical and wound care products announced the launch of MaxioCel, an advanced Ground-breaking wound care dressing made of chitosan.


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Market Driver:

Instigation of Effective Therapies to Facilitate Colossal Development

The growing need for effective and proficient treatment of chronic wounds among patients will impel companies to introduce innovative therapies. The rising unmet patient needs is a critical factor expected to fuel demand for novel treatment options for patients in developing nations. The release of effective therapies for hard-to-heal chronic wounds by pre-eminent organizations will support the growth of the market.

For instance, MTF Biologics, a global nonprofit organization innovating in tissue and organ donation for safe and sound healing, unveiled AminoBand viable membrane at the Wound Healing Society (WHS) conference in the U.S. Similarly, the constant R&D activities for the improvement in collagen dressings, skin grafts, and effective healing therapies will aid massive growth of the market in the foreseeable future.


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According to the National Institute of Health, diabetic foot ulcers cost an estimated USD 9 to USD 13 billion for treatment in the U.S. alone each year. In addition, the rising efforts of companies to reduce the treatment cost of acute and chronic wounds will subsequently enhance the market potential.

Market Restraint:

High-priced Therapies to Constrict Market Expansion

The high-cost associated with superior wound products will be a restricting factor for the growth of the market. The unfavourable reimbursement policies pertaining to wound care products such as negative pressure wound therapy, and skin grafts in emerging nations will further dwindle the growth of the market during the forecast period.

The lack of awareness regarding the effective therapies and devices in various regions will further limit the adoption of wound care products in the foreseeable future. The inclination towards conventional treatment options in developing countries will aggravate the adoption of innovative therapies, which in turn, will retard the growth of the market.


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Developing Healthcare Infrastructure to Favor Growth in Asia Pacific

The market size in North America stood generated a revenue of USD 4.35 billion in 2019 and is likely to remain dominant during the forecast period owing to the rising cases of chronic and acute wounds. The rising patent pool for diabetic foot ulcers and surgical wounds will further promote the growth of the market.

The market in Asia Pacific is likely to rise tremendously during the forecast period due to the developing healthcare infrastructure. The evolving facilities in hospitals and a surge in healthcare spending by the government will have a significant impact on the market during the forecast period.

The growing demand for advanced therapies and active R&D activities by key players will influence growth in the region. Nonetheless, the lack of knowledge regarding novel products and devices in remote areas will restrict the growth in Asia Pacific.


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The Report Lists the Key Players in the Advanced Wound Care Market:

  • Smith & Nephew
  • 3M
  • MiMedx
  • Coloplast Corp
  • ConvaTec Inc.
  • Tissue Regenix
  • Derma Sciences Inc.
  • Mölnlycke Health Care AB
  • Organogenesis Inc.
  • Other Players


Advanced Wound Care Market Segmentations:

By Product

•              Advanced Wound Dressings

o              Alginate Dressings

o              Hydrogel Dressings

o              Film Dressings

o              Hydrocolloid Dressings

o              Antimicrobial Dressings

o              Foam Dressings

o              Others

•              Wound Care Devices

o              Negative Pressure Wound Therapy (NPWT)

o              Hyperbaric Oxygen Therapy (HBOT)

o              Extracorporeal Shock Wave Therapy (ESWT)

o              Others (compression therapy, etc.)

•              Active Wound Care

o              Biological Skin Equivalents

o              Growth Factors

o              Biological Dressings

o              Others

By Indication

•              Diabetic Foot Ulcers

•              Pressure Ulcers

•              Surgical Wounds

•              Others

By End User

•              Hospitals

•              Clinics

•              Homecare Settings

•              Others

By Geography

•              North America (U.S. and Canada)

•              Europe (U.K., Germany, France, Italy, Spain, Scandinavia, and Rest of Europe)

•              Asia-Pacific (Japan, China, India, Australia, Southeast Asia, and Rest of Asia- Pacific)

•              Latin America (Brazil, Mexico, and Rest of Latin America)

•              The Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)


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SECONDARY DATA SOURCES THAT WE REFER TO:

  • Annual reports, investor presentation, SEC filings, and press releases of companies operating in the market
  • Studies published by relevant associations MedTech Europe; American College of Radiology; Cancer Council Australia; Japan Hospital Association, etc.), government sources (Centers for Disease Control & Prevention, Ministry of Health, Labour & Welfare, Japan; National Health Service, England, etc.), international organizations (World Health Organization, The Organization for Economic Co-operation and Development, Eurostat, etc.), and articles published by Research Gate, NCBI, etc.
  • Website, reports, and press releases of end user facilities – Hospitals, Ambulatory Surgery Centres, Clinics
  • Industry journals and paid databases

SECONDARY RESEARCH IS CONDUCTED TO DERIVE THE FOLLOWING INFORMATION:

  • Details such as revenues, market share, strategies, growth rate, product & their pricing by region/country for all major companies
  • Details in relation to prevalence, incidence, patient numbers, distribution of patients, average price of treatment, etc.
  • Number of end user facilities by region/country and average annual spending or procurement of devices by type of end user facility
  • Number of procedures and average price of procedures
  • Replacement rate and pricing of capital equipment
  • Market dynamics in relation to the market under focus – Drivers, restraints, trends, and opportunities
  • Market & technological trends, new product developments, product pipeline.


Have a Look at Related Reports:

Active Wound Care Market Share and Global Trend by Product Type (Biological Skin Equivalents, Growth Factors, Biological Dressings), Indication (Diabetic Foot Ulcers, Pressure Ulcers, Lower Limb Ulcers), End User (Hospitals, Clinics, Home Care Settings) and Geography Forecast till 2025

Advanced Wound Dressings Market Share and Global Trend By Product Type (Alginate Dressings, Hydrogel Dressings, Film Dressings, Hydrocolloid Dressings, Antimicrobial Dressings, Foam Dressings), Indication (Diabetic Foot Ulcers, Pressure Ulcers, Surgical Wounds), End Users (Hospitals, Clinics, Home Care Settings) and Geography Forecast till 2025

Wound Care Devices Market Share and Global Trend By Product Type (Negative Pressure Wound Therapy (NPWT), Hyperbaric Oxygen Therapy (HBOT), Extracorporeal Shock Wave Therapy (ESWT)), Indication (Diabetic Foot Ulcers, Pressure Ulcers, Surgical Wounds), End Users (Hospitals, Clinics, Home Care Settings) and Geography Forecast till 2025

Ophthalmic Disease Therapeutics Market Share and Global Trend By Disease Indication (Glaucoma, Retinal Diseases, Dry Eye Disease, Allergy & Infections), By Drug Class (Anti-inflammatory, Anti-infectives, Anti-VEGF, Anti-glaucoma), By Dosage Form (Solid, Liquid, Semi-solid), By Distribution Channel (Hospital Pharmacy, Retail Pharmacy, Online Pharmacy) By Geography Forecast till 2026

Immunodiagnostics Market Share and Global Trend By Product Instruments, Reagents & Consumables), By Application (Oncology & Endocrinology, Hepatitis & Retrovirus, Cardiac Markers, Infectious Diseases), By End user (Clinical Laboratories, Hospitals, Physician’s Offices), By End-user(Hospitals, Dental Clinics, Academic & Research Institutes) and Geography Forecast till 2026


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