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global advanced wound care management market

Advanced Wound Care Market Share, Size, Trends, Industry Analysis Report, By Product (Dressings, Devices & Accessories, Grafts & Matrices, Topical Agents); By Wound Type; By End-Use; By Region; Segment Forecast, 2022 - 2030

  • Published Date: Jun 2022
  • Pages: 114
  • Format: PDF
  • Report ID: PM1127
  • Base Year: 2021
  • Historical Data: 2018 - 2020

Report Summary

The global advanced wound care market was valued at USD 9.53 billion in 2021 and is expected to grow at a CAGR of 6.3% during the forecast period. The key factors, such as the increasing geriatric population and the launch of novel advanced therapies, are driving the market growth during the forecast period.

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For instance, as per an estimate by United Nations, 22% of the US population will be above the age of 65 years by 2030, with individuals post 75 years of age being the fastest growing subgroup. Also, many different advanced applications of ES and electromagnetic treatment have been used or explored, including speeding injury healing. The use of electrical current through electrodes placed directly on the skin near the injury is ES for advanced therapy.

A pulsed magnetic field is used to produce current in electromagnetic advanced treatment. The Centers for Medicare & Medicaid Services (CMS) has been requested to reconsider its decision that electromagnetic therapy is not covered nationally. CMS determined that the results of using electromagnetic therapy for advanced care were comparable to the results of using ES.

Further, patients all over the world are looking for advanced, quick, and effective ways to treat chronic injuries including diabetic foot ulcers, pressure ulcers, and venous leg ulcers. Active advanced care treatments, such as biological skin analogs and growth factors, are effective in the treatment of chronic injuries that are difficult to heal.

In this area, there are currently only a few players functioning, and these players are primarily focused on introducing novel bioactive products to the advanced wound care market. For example, Olaregen Therapeutix released Excellagen Wound Conforming Matrix 3.0 cc pre-filled syringe in October 2019.

Excellagen is a Cellular Tissue Product that has been approved by the FDA for the treatment of abrasions such as diabetic foot ulcers, venous leg ulcers, and others. Thus, local market participants' development of improved active therapies has aided in the adoption of skin grafts, collagen dressings, and other active therapies that will help the worldwide advanced wound care market's expansion.

Industry Dynamics

Growth Drivers
The growing proportion of advanced surgeries and the rising incidence of chronic disorders with the subsequent rise in the frequency of chronic and surgical injuries. For instance, as per the International Diabetes Foundation (IDF), around 463 million individuals across the globe will be suffering from diabetes in 2019.

It is anticipated to reach 578 Mn by 2030 and 700 million by 2045. Diabetes and obesity can lead to infection and chronic injuries and resulting in substantial medical costs. Further, diabetic foot ulcer is one of the most significant and devastating complications of diabetes.

According to the National Center for Biotechnology Information (NCBI), in 2019, the prevalence of diabetic foot ulcers in North America, Asia-Europe, and Africa was 13.0%, 5.5%, 5.1%, and 7.2 respectively. The high prevalence of diabetic foot ulcers has created a demand for its treatment, which in turn is anticipated to drive the growth of the market.

Advanced Wound Care Management Market
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Report Segmentation

The market is primarily segmented based on product, wound type, end-use, and region.

By Product

By Wound Type

By End-Use

By Region

  • Dressings
    • Foam Dressings
    • Silicone Dressings
    • Non-silicone Dressings
    • Hydrocolloid Dressings
    • Film Dressings
    • Alginate Dressings
    • Hydrogel Dressings
    • Collagen Dressings
    • Hydrofiber Dressings
    • Wound Contact Layers
    • Superabsorbent Dressings
    • Other Advanced Dressings
  • Devices & Accessories
    • NPWT Devices & Accessories
    • Debridement Devices & Accessories
    • Assessment & Monitoring Devices
    • Other Devices & Accessories
  • Grafts & Matrices
  • Topical Agents
  • Surgical & Traumatic
  • Diabetic Foot Ulcers
  • Pressure Ulcers
  • Venous Leg Ulcers
  • Burns & Other Wounds
  • Hospitals, ASCs, and Wound Care Centers
  • Home Care Settings
  • Others
  • North America (U.S., Canada)
  • Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
  • Asia Pacific (Japan, China, India, Malaysia, Indonesia, South Korea)
  • Latin America (Brazil, Mexico, Argentina)
  • Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)

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Insight by Product

Based on the product segment, the dressings segment is expected to be the most significant revenue contributor in the global market. This is rising as a result of rising spending on chronic and surgical wounds, rising burn injury rates, and developments in dressing technology.

The active advanced wound care market is expected to grow at a significant CAGR over the forecast period as more active therapies, such as skin grafts and biologics, are used to treat chronic injuries that are difficult to cure.

Geographic Overview

North America had the largest revenue share. Primary factors inducing the region’s growth include a rise in the prevalence of chronic wounds coupled with patients' awareness regarding its ill effects, high disposable income, and insurance coverage required to cover medical costs.

According to the Agency for Healthcare Research and Quality's estimates, the total medical cost of treating pressure ulcers in the United States ranges from USD 9.1 to USD 11.6 billion per year. Moreover, the presence o0f favorable reimbursement policies in the region also favors the adoption of such services.

Moreover, Asia Pacific is expected to witness a high CAGR in the global market in 2020. Because of the rising per capita healthcare expenditure, the market is predicted to rise steadily. Also, market companies in this region are making significant expenditures, which would fuel the demand for sophisticated advanced care management products.

Competitive Insight

Some of the major players operating in the global market include 3M, Baxter International, Coloplast Corp., Convatec Group Plc, Derma Sciences (Integra Lifesciences), Medline Industries, Medtronic, Molnlycke Health Care AB, Smith & Nephew, and Urgo Medical among others.

Advanced Wound Care Market Report Scope

Report Attributes

Details

Market size value in 2021

USD 9.53 Billion

Revenue forecast in 2030

USD 16.09 Billion

CAGR

6.3% from 2022 - 2030

Base year

2021

Historical data

2018 - 2020

Forecast period

2022 - 2030

Quantitative units

Revenue in USD Billion and CAGR from 2022 to 2030

Segments covered

By Product, By Wound Type, By End-Use, By Region

Regional scope

North America, Europe, Asia Pacific, Latin America, Middle East & Africa

Key companies

3M, Baxter International, Coloplast Corp., Convatec Group Plc, Derma Sciences (Integra Lifesciences), Medline Industries, Medtronic, Molnlycke Health Care AB, Smith & Nephew, and Urgo Medical

Key Take-Away
Polaris Market Research
Global Advanced Wound Care Market Size Report, 2022 - 2030