WASHINGTON, Sept. 19, 2022 (GLOBE NEWSWIRE) -- Vantage Market Research’s recent analysis of the Global Advanced Wound Care Market finds that the increased occurrence of surgical procedures across the globe expedites market expansion. In addition, the launch of novel and superior products will likely expand the growth of the Global Advanced Wound Care Market during the forecast period.
The Global Advanced Wound Care Market revenue is expected to reach a value USD 12.8 Billion in 2028.
The Global Market revenue was valued at USD 9.1 Billion in 2021 and is expected to grow to exhibit a CAGR (Compound Annual Growth Rate) of 5.9% during the forecast period; states Vantage Market Research, in a report, titled “Advanced Wound Care Market Size, Share & Trends Analysis Report by Product (Dressings, Devices & Accessories, Grafts & Matrices, Topical Agents), by Wound Type (Surgical & Traumatic Wounds, Diabetic Foot Ulcers, Pressure Ulcers, Venous Leg Ulcers, Burns & Other Wounds), by End User (Hospitals, ASCs, & Wound Care Centers, Home Care Settings, Other End Users), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)”.
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Key Industry Findings & Insights from the report:
- The global Advanced Wound Care Market was valued USD 9.1 Billion in 2021 and is all set to surpass USD 12.8 Billion by 2028, exhibiting a CAGR of 5.9% during the forecast period 2022-2028.
- In terms of revenue, the application segment held the largest revenue share of in 2021 and is estimated to maintain its dominance for the forecast period.
- In terms of revenue, the product segment held the second largest market share of in 2021 and is estimated to grow rapidly during the forecast period.
- The growth can be attributed to rapid urbanization, technological advancement, an increase in investment by developing countries.
- Asia Pacific captured the lion share in 2021 and is projected to retain its position over the forecast period. This can be attributed to the existence of a significant number of Advanced Wound Care industry companies and the high adoption rate owing to government measures that stimulate this industry in this region. The growth is primarily due to the increasing collaborations.
List of Prominent Players in Advanced Wound Care Market:
- 3M Company (US)
- Smith & Nephew PLC (UK)
- ConvaTec Group PLC (UK)
- Coloplast A/S (Denmark)
- Molnlycke Health Care AB (Sweden)
- Integra Life Sciences Holdings Corporation (US)
- PAUL Hartmann AG (Germany)
- B. Braun Melsungen AG (Germany)
- Cardinal Health Inc. (US)
- Organogenesis Holdings Inc. (US)
- Misonix Inc. (US)
- MiMedx Group Inc. (US)
- Zimmer Biomet Holdings Inc. (US)
- Lohmann & Rauscher GmbH & Co. KG (Germany)
- De Royal Industries Inc. (US)
- Medline Industries Inc. (US)
- DermaRite Industries LLC (US)
- Kerecis (Iceland)
- Advancis Medical (UK)
- Winner Medical Co. Ltd. (China)
- Hollister Incorporated (US)
- Mil Laboratories Pvt. Ltd. (India)
- Shield Line (US)
- ZENI Medical (US)
- Carilex Medical (Germany)
- Pensar Medical LLC (US)
- Wuhan VSD Medical Science & Technology Co. Ltd. (China)
- Haromed B.V. (Belgium)
Market Dynamics:
Driver:
Growing Incidences of Chronic and Acute Wounds to Increase the Demand for Dressings and Devices
The increase in chronic wounds such as venous leg ulcers, diabetic foot ulcers, and acute injuries, including surgical and traumatic wounds, all over the world is estimated to augment the number of individuals undergoing treatment for chronic wounds. In addition, the rise in the geriatric population worldwide and the increasing rate of diabetes patients are also contributing to the growth in the occurrence of acute and chronic wounds during the past decades. Moreover, the growing recurrence of ongoing injuries such as diabetic foot ulcers, venous leg ulcers, and intense injuries, for instance, careful and horrible injuries, is expected to expand the number of individuals getting constant injury care.
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Rise in Cases of Surgical Procedures Worldwide to Drive the Market Growth
The number of surgical procedures carried out is projected to augment owing to the access and affordability of surgical care. In addition, the prevalence of related surgical wounds and infections has been supplemented with the growing incidences of chronic disorders and the rising surgical procedures. This, in turn, enhances the need for Advanced Wound Care Market products and debridement procedures. Furthermore, surgical procedure is usually accompanied by wound infections, tissue damage, excessive bleeding, etc. The Advanced Wound Care Market products like honey wound dressing come with antimicrobial agents and have become feasible options for reducing the infection and wound bacterial colonization to recover the healing procedure. Therefore, in general, utilization of several Advanced Wound Care Market products at the time of surgical procedures is escalating because of the proven benefits of such products and the rising awareness of their effectiveness.
Launch of Innovative and Advanced Products to Stimulate the Market Growth
Advancements in technologies are expected to have a significant impact on the wound care industry. For instance, in Jan 2020, ConvaTec Group PLC (UK) launched Conva Max, the advanced wound dressing that facilitates managing very exuding wounds, including surgical wounds, diabetic foot ulcers, and leg ulcers. As a result, the introduction of new advanced wound healing products by key participants and the increase in investment in Research and Development (R&D) are anticipated to observe the growing adoption of wound dressings and active therapies for acute and chronic wound treatment across the globe. Furthermore, manufacturers of Advanced Wound Care Market products are receiving support from governments to produce high-quality products in emergent nations, which will likely boost market sales.
COVID-19 Impact Analysis:
The COVID-19 outbreak has affected various industries worldwide, and the Global Advanced Wound Care Market is not an exception. Administrative bodies worldwide implemented curb measures, for instance, lockdown, to ensure strict social distancing norms to restrict the spread of the disease. Small and medium-scale industries, which are technology partners to the Advanced Wound Care Market companies, suffered impact due to the pandemic. In addition, the Advanced Wound Care Market was also impacted by the restricted movement of goods and people due to the lockdown measures in place during the beginning stages of the COVID-19 spread.
Since the beginning of 2022, the supplies and workforce are expected to resume normal which will further bolster Advanced Wound Care Market industry coming back on track. Vantage Market Research, while performing the research on the topic for the Global Advanced Wound Care Market has considered the end-to-end impact of COVID-19 on the Global Advanced Wound Care Market. In addition, the study also deep dives into the after-effects of the COVID-19 pandemic on the subsidiary units of the Advanced Wound Care Market industry. Furthermore, the study also does an exhaustive analysis while estimating the present and the future market size for the Global Advanced Wound Care Market industry primarily based on the aforementioned data points:
1. Impact Assessment of COVID-19 Pandemic
a. North America
b. Europe
c. Asia Pacific
d. Latin America
e. Middle East & Africa
2. Quarterly Market Revenue Forecast by Asia Pacific 2020 & 2021
3. Key Strategies Undertaken by Companies to Tackle COVID-19
4. Long-Term Dynamics
5. Short-Term Dynamics
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The report on Advanced Wound Care Market highlights:
- Assessment of the market
- Premium Insights
- Competitive Landscape
- COVID Impact Analysis
- Historic Data, Estimates, and Forecast
- Company Profiles
Regional Analysis:
North America Dominated the Global Advanced Wound Care Market
North America is dominating the Global Advanced Wound Care Market and will continue to dominate during the forecast period. This dominance is attributable to the rise in cases of surgical procedures and the well-developed healthcare infrastructure in this region. Also, the occurrence of numerous Advanced Wound Care Market players and the growth in several acquisitions has recently shown great augmentation in this region. Moreover, the penetration of Advanced Wound Care Market products and the rise in patient awareness across emerging regions of Advanced Wound Care Market is likely to drive regional market growth. In the coming years, the expansion in the accident rates, such as road accidents, burns, and trauma events in this region, will propel the demand for Advanced Wound Care Market in North America.
Browse market data Tables and Figures spread through 145 Pages and in-depth TOC on "Advanced Wound Care Market Size, Share & Trends Analysis Report by Product (Dressings, Devices & Accessories, Grafts & Matrices, Topical Agents), by Wound Type (Surgical & Traumatic Wounds, Diabetic Foot Ulcers, Pressure Ulcers, Venous Leg Ulcers, Burns & Other Wounds), by End User (Hospitals, ASCs, & Wound Care Centers, Home Care Settings, Other End Users), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)".
Recent Developments:
April 2021: 3M Company, an American corporation manufacturing a broad range of products, including abrasives, adhesive tape, and related products, introduced a new silicone adhesive, i.e., film tape for wounds, generally intended for people with fragile skin. In addition, the silicone adhesive is a newly breathable and compatible adhesive that allows seven days of usage and minimizes skin cell removal, making them a suitable option for treating fragile skin.
Key Questions Answered in The Report:
- Which region will show the fastest and highest growth in the near future?
- Which are the top five players and their weakness and strength of the Market?
- What will be the future innovation in the upcoming six years?
- Which application and product will lead the largest share of the Market?
- What are the growth drivers, restraints and challenges of the industry?
- What will be the CAGR and size of the Advanced Wound Care Market for the base year and forecast period?
This market titled “Advanced Wound Care Market” will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others as mentioned below:
| Parameter | Details |
| Market Size Provided for Years | 2016-2028 |
| Base Year | 2021 |
| Historic Years | 2016-2020 |
| Forecast Years | 2022-2028 |
| Segments Covered | • Product • Dressings • Devices & Accessories • Grafts & Matrices • Topical Agents • Wound Type • Surgical & Traumatic Wounds • Diabetic Foot Ulcers • Pressure Ulcers • Venous Leg Ulcers • Burns & Other Wounds • End User • Hospitals, ASCs, & Wound Care Centers • Home Care Settings • Other End Users • Region • North America • Europe • Asia Pacific • Latin America • Middle East & Africa |
| Region & Counties Covered | • North America • U.S. • Canada • Mexico • Europe • U.K • France • Germany • Italy • Spain • Rest Of Europe • Asia Pacific • China • Japan • India • South Korea • South East Asia • Rest Of Asia Pacific • Latin America • Brazil • Argentina • Rest Of Latin America • Middle East & Africa • GCC countries • South Africa • Rest Of Middle East & Africa |
| Companies Covered | • 3M Company (US) • Smith & Nephew PLC (UK) • ConvaTec Group PLC (UK) • Coloplast A/S (Denmark) • Molnlycke Health Care AB (Sweden) • Integra LifeSciences Holdings Corporation (US) • PAUL Hartmann AG (Germany) • B. Braun Melsungen AG (Germany) • Cardinal Health Inc. (US) • Organogenesis Holdings Inc. (US) • Misonix, Inc. (US) • MiMedx Group Inc. (US) • Zimmer Biomet Holdings Inc. (US) • Lohmann & Rauscher GmbH & Co. KG (Germany) • DeRoyal Industries Inc. (US) • Medline Industries Inc. (US) • DermaRite Industries LLC (US) • Kerecis (Iceland) • Advancis Medical (UK) • Winner Medical Co. Ltd. (China) • Hollister Incorporated (US) • Mil Laboratories Pvt. Ltd. (India) • Shield Line (US) • ZENI Medical (US) • Carilex Medical (Germany) • Pensar Medical LLC (US) • Wuhan VSD Medical Science & Technology Co. Ltd. (China) • Haromed B.V. (Belgium) |
| Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis |
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