“Growing geriatric population, rising incidence of diabetes, technological advancements in wound care products are driving the overall growth of the advanced wound care market”
The global advanced wound care market is expected to reach USD 16.5 billion by 2025 from USD 10.3 billion in 2020, at a CAGR of 9.8%. Market growth is primarily driven by the rapidly growing geriatric population, rising incidence of diabetes, technological advancements in wound care products, funding for wound care research, and growing awareness of wound management. On the other hand, the high cost of some wound care products and the risks associated with wound management may limit market growth to a certain extent.
“The grafts & matrices segment accounted for the highest growth rate in the advanced wound care market, by product, during the forecast period “
Based on product, the advanced wound care market is segmented into dressings; devices & accessories; grafts & matrices and topical agents. The grafts & accessories segment accounted for the largest share and highest CAGR in the advanced wound care market during the forecast period. The increasing incidence of diabetes and the rising demand for innovative and advanced wound dressings across the globe are the key factors driving the growth of this product segment.
“Surgical & traumatic wounds segment accounted for highest CAGR”
Based on wound type, the advanced wound care market is segmented into surgical & traumatic wounds, diabetic foot ulcers, pressure ulcers, venous leg ulcers and burns and other wounds. The surgical & traumatic wounds segment accounted to show highest growth rate during the forecast period. Market growth is largely driven by the rising incidence of diabetes and diabetic foot ulcers due to the high prevalence of pressure ulcers and venous leg ulcers in the geriatric population.
“Hospitals, ASCs, and wound care centers segment to register the highest growth rate during the forecast period”
Based on end user, the advanced wound care market is segmented into hospitals, ASCs, and wound care centers; home care settings; and other end users. The hospitals, ASCs, wound care centers segment is expected to account for the highest share and CAGR. The large share of this segment can be attributed to factors such as the growing prevalence of surgical and chronic wounds; rising incidence of associated SSIs and HAIs; and increasing incidences of burn injuries.
“Europe: The fastest-growing region advanced wound care market”
The global advanced wound care market is segmented into North America, Europe, the Asia Pacific, Latin America, and Middle East and Africa. The Europe region is projected to grow at the highest CAGR during the forecast period in 2019. The large share of this regional segment can be attributed to the growing prevalence of chronic conditions resulting in chronic, surgical, and traumatic wounds; the increasing incidence of burn injuries; increasing spending on surgical and chronic wounds; and technological advancements in this region.
The primary interviews conducted for this report can be categorized as follows:
- By Company Type: Tier 1 - 36%, Tier 2 - 45%, and Tier 3 - 19%
- By Designation: C-level - 33%, D-level - 40%, and Others - 27%
- By Region: North America - 51%, Europe - 21%, Asia Pacific - 18%, Latin America – 6%, Middle East and Africa – 4%
Lits of companies Profiled in the Report:
- Smith & Nephew Plc. (UK)
- M?lnlycke Health Care AB (Sweden)
- B. Braun Melsungen Ag (Germany)
- ConvaTec Group (UK)
- Coloplast A/S (Denmark)
- Integra LifeSciences Holdings Corporation (US)
- 3M Group (US)
- Cardinal Health Inc. (US)
- Paul HARTMANN (Germany)
- Medline Industries (US)
- Lohmann & Rauscher (Germany)
- Advancis Medical LLC (UK)
- Organogenesis (US)
- MiMedx Group (US)
- DeRoyal Industries Inc. (US)
- Winner Medical Co. Ltd. (China)
- Kerecis (Iceland)
- Hollister Inc. (US)
- Shield Line (US)
- Welcare Industries SPA (Italy)
- Misonix (US)
- MilLaboratories Pvt. Ltd. (India)
- ACell (US)
- Zimmer Biomet (US)
- DermaRite Industries LLC (US)
This report provides a detailed picture of the global advanced wound care market. It aims at estimating the size and future growth potential of the market across different segments, such as product, wound type, end user, and region. The report also includes an in-depth competitive analysis of the key market players, along with their company profiles, recent developments, and key market strategies.
Key Benefits of Buying the Report:
- The report will help market leaders/new entrants by providing them with the closest approximations of the revenue numbers for the overall advanced wound care market and its subsegments.
- It will also help stakeholders better understand the competitive landscape and gain more insights to position their business better and make suitable go-to-market strategies.
- This report will enable stakeholders to understand the pulse of the market and provide them with information on the key market drivers, restraints, opportunities, and trends.