The global advanced wound care market is projected to reach USD 12.8 billion by 2026 from USD 9.4 billion in 2021, at a CAGR of 6.2% during the forecast period. Market growth is driven by factors such as the increasing spending on chronic wounds and growing prevalence of diseases & conditions affecting wound healing capabilities. On the other hand, the high cost and risks associated with the use of advanced wound care products are the major factors hampering the growth of this market.
“The grafts & matrices segment accounted for the highest growth rate in the advanced wound care market, by product, during the forecast period”
The advanced wound care market is segmented into dressings, devices & accessories, grafts & matrices, and topical agents based on product. In 2020, grafts & matrices segment accounted for the highest growth rate in the advanced wound care market. Factors contributing to the growth of this market segment include the increasing prevalence of target conditions such as leg ulcers, high demand, and the rising geriatric population.
“Surgical & traumatic wounds segment accounted for the 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 & other wounds. In 2020, the surgical & traumatic wounds segment accounted for the highest growth rate. This can be attributed to the growing number of surgical procedures performed and the increasing prevalence of chronic conditions.
“Asia Pacific: 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 the Middle East & Africa. The Asia Pacific region is projected to register the highest CAGR during the forecast period. Factors such as the rising demand for cutting-edge technologies, increasing prevalence of diabetes, increasing healthcare spending, growing per capita income, the expansion of private-sector hospitals to rural areas in various APAC countries, increasing medical tourism, and the presence of high-growth markets are expected to boost the market growth. The low labor costs and the favorable regulatory environment in this region are also expected to propel market growth.
The primary interviews conducted for this report can be categorized as follows:
- By Company Type: Tier 1 - 40%, Tier 2 - 30%, and Tier 3 - 30%
- By Designation: C-level - 27%, D-level - 18%, and Others - 55%
- By Region: North America - 51%, Europe - 21%, Asia Pacific - 18%, Latin America – 6% , and the Middle East & Africa – 4%
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 better position their business and make suitable go-to-market strategies. This report will enable stakeholders to understand the market’s pulse and provide them with information on the key market drivers, restraints, opportunities, and trends.