A new market study, titled “Advanced Wound Care Market Forecast 2021-2028” has been featured on Fortune Business Insights™.
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Market Overview:
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.
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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. 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 unfavorable 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.
Regional Analysis:
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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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.
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
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Table Of Content:
- Introduction
1.1. Research Scope
1.2. Market Segmentation
1.3. Research Methodology
1.4. Definitions and Assumptions
- Executive Summary
- Market Dynamics
3.1. Market Drivers
3.2. Market Restraints
3.3. Market Opportunities
- Key Insights
4.1. Prevalence of Key Indications, By Key Countries, 2019
4.2. Economic cost Burden of Chronic wounds in Key Countries, 2019
4.3. New Product Launch, By Key Players
4.4. Key Industry Developments – Mergers, Acquisition and Partnership
4.5 Overview: Impact of COVID-19 on Advanced Wound Care
- Global Advanced Wound Care Market Analysis, Insights and Forecast, 2016-2027
5.1. Key Findings / Summary
5.2. Market Analysis, Insights and Forecast – By Product
5.2.1 Advanced Wound Dressings
5.2.1.1 Alginate Dressings
5.2.1.2 Hydrogel Dressings
5.2.1.3 Film Dressings
5.2.1.4 Hydrocolloid Dressings
5.2.1.5 Antimicrobial Dressings
5.2.1.6 Foam Dressings
5.2.1.7 Others
5.2.2 Wound Care Devices
5.2.2.1 Negative Pressure Wound Therapy
5.2.2.2 Hyperbaric Oxygen Therapy
5.2.2.3 Extracorporeal Shock Wave Therapy
5.2.2.4 Others (Compression Therapy, etc.)
5.2.3 Active Wound Care
5.2.3.1 Biological Skin Equivalents
5.2.3.2 Growth Factors
5.2.3.3 Biological Dressings
5.2.3.4 Others
5.3. Market Analysis, Insights and Forecast – By Indication
5.3.1 Diabetic Foot Ulcers
5.3.2 Pressure Ulcers
5.3.3 Surgical Wounds
5.3.4 Others
5.4. Market Analysis, Insights and Forecast – By End User
5.4.1 Hospitals
5.4.2 Clinics
5.4.3 Home Care Settings
5.4.4 Others
5.5. Market Analysis, Insights and Forecast – By Region
5.5.1 North America
5.5.2 Europe
5.5.3 Asia Pacific
5.5.4 Latin America
5.5.5 Middle East & Africa
- North America Advanced Wound Care Market Analysis, Insights and Forecast, 2016-2027
6.1. Key Findings / Summary
6.2. Market Analysis, Insights and Forecast – By Product
6.2.1 Advanced Wound Dressings
6.2.1.1 Alginate Dressings
6.2.1.2 Hydrogel Dressings
6.2.1.3 Film Dressings
6.2.1.4 Hydrocolloid Dressings
6.2.1.6 Antimicrobial Dressings
6.2.1.6 Foam Dressings
6.2.1.7 Others
6.2.2 Wound Care Devices
6.2.2.1 Negative Pressure Wound Therapy
6.2.2.2 Hyperbaric Oxygen Therapy
6.2.2.3 Extracorporeal Shock Wave Therapy
6.2.2.4 Others (Compression Therapy, etc.)
6.2.3 Active Wound Care
6.2.3.1 Biological Skin Equivalents
6.2.3.2 Growth Factors
6.2.3.3 Biological Dressings
6.2.3.4 Others
6.3. Market Analysis, Insights and Forecast – By Indication
6.3.1 Diabetic Foot Ulcers
6.3.2 Pressure Ulcers
6.3.3 Surgical Wounds
6.3.4 Others
6.4. Market Analysis, Insights and Forecast – By End User
6.4.1 Hospitals
6.4.2 Clinics
6.4.3 Home Care Settings
6.4.4 Others
6.5. Market Analysis, Insights and Forecast – By Country
6.5.1 U.S.
6.5.2 Canada
- Europe Advanced Wound Care Market Analysis, Insights and Forecast, 2016-2027
7.1. Key Findings / Summary
7.2. Market Analysis, Insights and Forecast – By Product
7.2.1 Advanced Wound Dressings
7.2.1.1 Alginate Dressings
7.2.1.2 Hydrogel Dressings
7.2.1.3 Film Dressings
7.2.1.4 Hydrocolloid Dressings
7.2.1.5 Antimicrobial Dressings
7.2.1.6 Foam Dressings
7.2.1.7 Others
7.2.2 Wound Care Devices
7.2.2.1 Negative Pressure Wound Therapy
7.2.2.2 Hyperbaric Oxygen Therapy
7.2.2.3 Extracorporeal Shock Wave Therapy
7.2.2.4 Others (Compression Therapy, etc.)
7.2.3 Active Wound Care
7.2.3.1 Biological Skin Equivalents
7.2.3.2 Growth Factors
7.2.3.3 Biological Dressings
7.2.3.4 Others
7.3. Market Analysis, Insights and Forecast – By Indication
7.3.1 Diabetic Foot Ulcers
7.3.2 Pressure Ulcers
7.3.3 Surgical Wounds
7.3.4 Others
7.4. Market Analysis, Insights and Forecast – By End User
7.4.1 Hospitals
7.4.2 Clinics
7.4.3 Home Care Settings
7.4.4 Others
7.5. Market Analysis, Insights and Forecast – By Country/ Sub-region
7.5.1 Germany
7.5.2 U.K.
7.5.3 France
7.5.4 Italy
7.5.5 Spain
7.5.6 Scandinavia
7.5.7 Rest of Europe
- Asia Pacific Advanced Wound Care Market Analysis, Insights and Forecast, 2016-2027
8.1. Key Findings / Summary
8.2. Market Analysis, Insights and Forecast – By Product
8.2.1 Advanced Wound Dressings
8.2.1.1 Alginate Dressings
8.2.1.2 Hydrogel Dressings
8.2.1.3 Film Dressings
8.2.1.4 Hydrocolloid Dressings
8.2.1.5 Antimicrobial Dressings
8.2.1.6 Foam Dressings
8.2.1.7 Others
8.2.2 Wound Care Devices
8.2.2.1 Negative Pressure Wound Therapy
8.2.2.2 Hyperbaric Oxygen Therapy
8.2.2.3 Extracorporeal Shock Wave Therapy
8.2.2.4 Others (Compression Therapy, etc.)
8.2.3 Active Wound Care
8.2.3.1 Biological Skin Equivalents
8.2.3.2 Growth Factors
8.2.3.3 Biological Dressings
8.2.3.4 Others
8.3. Market Analysis, Insights and Forecast – By Indication
8.3.1 Diabetic Foot Ulcers
8.3.2 Pressure Ulcers
8.3.3 Surgical Wounds
8.3.4 Others
8.4. Market Analysis, Insights and Forecast – By End User
8.4.1 Hospitals
8.4.2 Clinics
8.4.3 Home Care Settings
8.4.4 Others
8.5. Market Analysis, Insights and Forecast – By Country/ Sub-region
8.5.1 China
8.5.2 India
8.5.3 Japan
8.5.4 Australia
8.5.5 Southeast Asia
8.5.6 Rest of Asia Pacific
- Latin America Advanced Wound Care Market Analysis, Insights and Forecast, 2016-2027
9.1. Key Findings / Summary
9.2. Market Analysis, Insights and Forecast – By Product
9.2.1 Advanced Wound Dressings
9.2.1.1 Alginate Dressings
9.2.1.2 Hydrogel Dressings
9.2.1.3 Film Dressings
9.2.1.4 Hydrocolloid Dressings
9.2.1.5 Antimicrobial Dressings
9.2.1.6 Foam Dressings
9.2.1.7 Others
9.2.2 Wound Care Devices
9.2.2.1 Negative Pressure Wound Therapy
9.2.2.2 Hyperbaric Oxygen Therapy
9.2.2.3 Extracorporeal Shock Wave Therapy
9.2.2.4 Others (Compression Therapy, etc.)
9.2.3 Active Wound Care
9.2.3.1 Biological Skin Equivalents
9.2.3.2 Growth Factors
9.2.3.3 Biological Dressings
9.2.3.4 Others
9.3. Market Analysis, Insights and Forecast – By Indication
9.3.1 Diabetic Foot Ulcers
9.3.2 Pressure Ulcers
9.3.3 Surgical Wounds
9.3.4 Others
9.4. Market Analysis, Insights and Forecast – By End User
9.4.1 Hospitals
9.4.2 Clinics
9.4.3 Home Care Settings
9.4.4 Others
9.5. Market Analysis, Insights and Forecast – By Country/ Sub-region
9.5.1 Brazil
9.5.2 Mexico
9.5.3 Rest of Latin America
- Middle East & Africa Advanced Wound Care Market Analysis, Insights and Forecast, 2016-2027
10.1. Key Findings / Summary
10.2. Market Analysis, Insights and Forecast – By Product
10.2.1 Advanced Wound Dressings
10.2.1.1 Alginate Dressings
10.2.1.2 Hydrogel Dressings
10.2.1.3 Film Dressings
10.2.1.4 Hydrocolloid Dressings
10.2.1.5 Antimicrobial Dressings
10.2.1.6 Foam Dressings
10.2.1.7 Others
10.2.2 Wound Care Devices
10.2.2.1 Negative Pressure Wound Therapy
10.2.2.2 Hyperbaric Oxygen Therapy
10.2.2.3 Extracorporeal Shock Wave Therapy
10.2.2.4 Others (Compression Therapy, etc.)
10.2.3 Active Wound Care
10.2.3.1 Biological Skin Equivalents
10.2.3.2 Growth Factors
10.2.3.3 Biological Dressings
10.2.3.4 Others
10.3. Market Analysis, Insights and Forecast – By Indication
10.3.1 Diabetic Foot Ulcers
10.3.2 Pressure Ulcers
10.3.3 Surgical Wounds
10.3.4 Others
10.4. Market Analysis, Insights and Forecast – By End User
10.4.1 Hospitals
10.4.2 Clinics
10.4.3 Home Care Settings
10.4.4 Others
10.5. Market Analysis, Insights and Forecast – By Country/ Sub-region
10.5.1 South Africa
10.5.2 GCC
10.5.3 Rest of Middle East & Africa
- Competitive Analysis
11.1. Key Industry Developments
11.2. Global Market Share Analysis (2019)
11.3. Company Profiles (Overview, Products & Services, SWOT Analysis, Recent Developments, Strategies, Financials (Based on Availability))
11.3.1. MiMedx
11.3.2. Derma Sciences Inc.
11.3.3. Coloplast Corp
11.3.4. ConvaTec Inc.
11.3.5. Tissue Regenix
11.3.6. Mölnlycke Health Care AB
11.3.7. Smith & Nephew
11.3.8. Organogenesis Inc.
11.3.9. 3M
11.3.10 Other Players
- Strategic Recommendations
NOTE: Our team is studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.
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