The global Advanced Wound Care Management Market size is expected to reach USD 16.85 Billion in 2030 and register a revenue CAGR of 6.7% over the forecast period, according to latest report by Reports and Data. Rising incidence of acute diseases and increasing preference of physicians and patients for advanced wound care dressings, owing to their effectiveness, are factors driving Advanced Wound Care Management Market revenue growth.
Increasing prevalence of chronic diseases, such as diabetic venous leg ulcers, foot ulcers, obesity, cardiovascular disease, and others, is driving growth of the Advanced Wound Care Management Market . Chronic diseases such as cancer, coronary artery disease, and peripheral vascular disease can compromise wound healing capabilities of a patient, especially in older adults, where it can cause complexity in disease treatment. For instance, in 2019, prevalence of diabetic foot ulcers among diabetes patients is estimated to be around 13%. Thus, increasing prevalence of conditions such as diabetic foot ulcers is creating high demand for advanced wound care products.
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Now that the tide is turning, more worldwide growth in the pharmaceutical business is likely to come from emerging nations, particularly China, where health systems are rapidly developing. Despite the fact that only a few acquisitions were announced or completed, tremendous growth is projected in the future years.
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Some Key Highlights from the Report
In March 2020, Smith+Nephew, the global medical technology company, launched PICO 14 Single Use Negative Pressure Wound Therapy System (sNPWT). PICO 14 requires less user intervention, and it has enhanced pump duration of 14 days. It is built on the features and advantages of previous PICO pumps and is suitable for patients where the risk of Surgical Site Complications (SSCs) and consequences of getting them are high, such as in abdominal surgery, cardiothoracic surgery, and Coronary Artery Bypass Graft Surgery (CABG).
- Infection management segment accounted for largest revenue share in 2021, owing to rising incidence of burn injuries and increasing spending on surgical wounds. Technological advancements in the healthcare sector and improvement in diagnostics are other factors contributing to growth of the segment.
- Chronic wound segment accounted for largest revenue share in 2021, owing to growing prevalence of post-operative surgical wounds. Increasing awareness regarding advanced diagnosis and rapid technological advancements in healthcare are driving growth of the segment. Chronic wounds are treated by often removing inflamed or dead tissues known as debridement. Instruments such as curettes, tweezers, or scalpels are used to clean the wound by removing dead tissues.
- Hospitals segment accounted for largest revenue share in 2021, owing to the large number of treatment procedures and surgeries performed in hospitals. A large section of patients prefer to visit hospitals for treatment of diseases and wounds, such as surgical wounds, ulcers, and burns.
- Market in North America accounted for largest revenue share in 2021, which can be attributed to development and innovation in advanced wound care products. Rising prevalence of acute wounds and increasing costs of medical treatments associated with diabetic foot ulcers are driving growth of the Advanced Wound Care Management Market in this region.
- Companies profiled in the global market report include 3M, Smith+Nephew, ConvaTec Group PLC, Coloplast Group, Molnlycke Health Care AB, Paul Hartmann AG, B. Braun Melsungen AG, Organogenesis Inc., Medtronic, and DermaRite Industries, LLC.
For this report, Reports and Data has segmented the global Advanced Wound Care Management Market based on product, wound type, end-use, and region:
Product Outlook (Revenue, USD Billion; 2019–2030)
- Infection Management
- Silver Wound Dressings
- Non-silver Wound Dressings
- Collagen Dressings
- Exudate Management
- Hydrocolloids Dressings
- Foam Dressings
- Alginate Dressings
- Hydrogel Dressings
- Active Wound Care
- Skin Substitutes
- Growth Factors
- Devices and Accessories
- NPWT Devices and Accessories
- Debridement Devices and Accessories
- Wound Assessment and Monitoring Devices
- Other Devices and Accessories
- Grafts and Matrices
- Topical Agents
Wound Type Outlook (Revenue, USD Billion; 2019–2030)
- Acute Wounds
- Burns and Traumatic Wounds
- Surgical Wounds
- Chronic Wounds
- Diabetic Foot Ulcers
- Pressure Ulcers
- Venous Legs Ulcers
- Other Wounds
End-use Outlook (Revenue, USD Billion; 2019–2030)
- Hospitals
- Wound Care Centers
- Homecare Settings
- Others
Regional Outlook (Revenue, USD Billion; 2019–2030)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Sweden
- BENELUX
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East Africa
- Saudi Arabia
- UAE
- South Africa
- Israel
- Rest of MEA
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The entry of startups and regional players in the recent years and their increasing focus on drug development and research and advancements in therapeutics and medical devices are also expected to contribute to the growth of the market.
Among the product types, the demand for personalized medicine for cancer is expected to dominate other types over the forecast period attributing to growing demand for customized therapies to treat various types of cancer and growing incidence of cancer globally.
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Growing advancements in medical therapies to drive market growth
The pharmaceutical and healthcare industry is driven by rapid advancements in customized therapies, medical devices, and surgical procedures. Integration of advanced technologies to accelerate research and development and manufacturing and production activities are some other factors driving market growth.
High prices of certain drugs might affect revenue growth
Launch of high-priced drugs to treat rare and chronic diseases and lesser affordability in middle- and low-income regions might limit their adoption and restrain market growth going ahead. In addition, less knowledge and awareness regarding advanced treatment approaches and lower adoption of advanced technologies might further hamper market growth over the forecast period.
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