16 September 2022
Visiongain has published a new report entitled Advanced Wound Care Management Market Report 2022-2032: Forecasts by Type (Dressings (Foam Dressings, Hydrocolloid Dressings, Film Dressings, Alginate and Gelling Fiber Dressings, Hydrogel Dressings, Super Absorbent Dressings, Contact Layer Dressings, and Other Advanced Dressings), Wound Biologics (Cellular and Tissue-based Products (CTPs)/Skin Substitutes, Collagen Dressings, Others), External Wound Therapy Devices (Negative Pressure Wound Therapy (NPWT) System, Oxygen and Hyperbaric Oxygen Therapy Devices, Electrical Wound Stimulation, Ultrasound Wound Therapy, Photodynamic Therapy, Debridement Devices (Sprays, Jets), Others (Extracorporeal Shock Wave Therapy Devices, Low Intensity Laser Therapy, Electromagnetic Simulation)), Anti-Adhesion Products, Other Advanced Consumable Technologies (Anti-Adhesion products, Advanced Debriding and Cleansing Agents), Wound Closure Sealants and Glues (Closure Sealants and Glues)), by Application (Acute Wounds (Surgical and Traumatic Wounds, Burns), Chronic Wounds (Diabetic Foot Ulcers, Pressure Ulcers, Venous Leg, Other Ulcers), by End-user (Hospital Outpatient Wound Centres, Inpatient Settings/Hospitals, Office or Clinic Settings, Others) AND Regional and Leading National Market Analysis PLUS Analysis of Leading Companies AND COVID-19 Impact and Recovery Pattern Analysis.
The advanced wound care management market is estimated to be valued at US$12,581.3 million in 2022. The market is projected to reach a market value of US$23,307.5 million by 2032 and is projected to grow at a CAGR of 6.36% during the forecast period 2022-2032.
Rise in Burn Cases Across the Globe
Chemicals, friction, radiation, electricity, friction, and heat can all result in burns. It causes significant loss of blood vessels, skin, and other tissues. Burn cases are treated with cutting-edge wound care items such artificial skin and replacements, collagen dressing, hydrocolloid dressing, and hydrogel dressing. The National Fire Protection Association (NFPA) reported that, in 2020, local fire departments dealt with 1,338,500 fires. 3,500 civilians were killed, 15,200 were wounded, and $21.9 billion worth of property was damaged as a result of these fires in U.S. An American fire department responds to a fire somewhere in the country every 23 seconds. A structure catches fire once every 64 seconds, and a dwelling catches fire once every 89 seconds. Additionally, a 2018 study from the World Health Organization (WHO) stated that every year in India, up to 1 million people experience moderate to severe burns. Therefore, the rise in burn instances is fueling this market's expansion.
How will this Report Benefit you?
Visiongain’s 177-page report provides 71 tables and 114 charts/graphs. Our new study is suitable for anyone requiring commercial, in-depth analyses for the Advanced Wound Care Management market, along with detailed segment analysis in the market. Our new study will help you evaluate the overall global and regional market for Advanced Wound Care Management. Get financial analysis of the overall market and different segments including type, application, end user, and region and capture higher market share. We believe that there are strong opportunities in this fast-growing Advanced Wound Care Management market. See how to use the existing and upcoming opportunities in this market to gain revenue benefits in the near future. Moreover, the report will help you to improve your strategic decision-making, allowing you to frame growth strategies, reinforce the analysis of other market players, and maximise the productivity of the company.
What are the Current Market Drivers?
Increasing Incidences of Chronic Wounds
One of the main causes of the advanced wound care market's expansion is the rise in incidences of chronic wounds. Chronic wounds brought on by conditions like diabetes and obesity can be treated using advanced wound care solutions. To speed up the healing process, advanced wound care items like Negative-pressure wound therapy (NPWT) devices, foam dressing, and hydrogel dressing are employed. In the United Kingdom, the prevalence of venous leg ulcers is between 0.1% and 0.3%, according to a 2019 report by the National Institute for Health and Care Excellence (NICE). Additionally, these venous leg ulcers make up 65% to 85% of all leg ulcers.
Ageing Population is Projected to Propel Market Growth
Globally, the ageing population is significantly contributing to the expansion of the market for advanced wound care management products. Since, they are more likely to have chronic conditions that cause pressure sores, venous leg ulcers, injuries, and accidents. Compared to adults, the elderly population have weak body system, which prolongs the time it takes for injuries to heal. The CDC reports that in 2022 one in four fall occurrences involving elderly persons resulted in serious injuries in the U.S.. Additionally, due to low immunity, they are more likely to develop an infection following surgery, which increases the need for advanced wound care products. For instance, the WHO estimates that the population's age 60+ demographic is growing both in size and proportion. There were 1 billion people 60 and older in the world in 2019. By 2030, there will be 1.4 billion people on earth, and by 2050, there will be 2.1 billion. Similarly, nearly one in four Americans are predicted to be older adults by 2060, according to the National Population Projections by the U.S. Census Bureau, which is anticipated to drive regional market growth.
Where are the Market Opportunities?
Increasing Demand for Combination Dressings
The features of many types of wound dressing are combined to create combination dressings, which work better than individual products. For diabetic foot ulcers, pressure ulcers, and infected wounds, combination dressings such silver collagen, silver alginate, and collagen hydrochloride combination dressing are frequently utilised. They aid in wound healing and stop germs from infecting the injured area. Combination dressings' increased demand is a result of their improved therapeutic efficacy. DermaCol/Ag by DermaRite Industries LLC., Algidex Ag by DeRoyal Industries Inc., and BIOSTEP Ag by Smith & Nephew Smith and Nephew Inc. are a few examples of the product offers.
The major players operating in the advanced wound care management market are 3M, Bioventus, Coloplast A/S (Denmark), ConvaTec Group Plc, COOK BIOTECH, DermaRite Industries, LLC, Derma Science Inc. (Integra LifeSciences), Mölnlycke Health Care AB, Medline Industries, Inc., and Smith+Nephew. These major players operating in this market have adopted various strategies comprising M&A, investment in R&D, collaborations, partnerships, regional business expansion, and new product launch.
• In August 2022, 3M announced the upgrades to its advance the delivery of certain wound care technologies. The company launched dressing kit and software upgrade for the 3M VAC Ulta therapy unit without any increased cost to the customers. In comparison to earlier Veraflo Therapy dressings, these new options make dressing changes for patients quicker, faster, and less painful for clinicians utilising Veraflo Therapy (negative pressure wound therapy with instillation).
• In July 2022, to help in reducing practise variation in wound care, Smith+Nephew developed the Clinical Support App. A complete digital tool for health care providers, the WOUND COMPASS Clinical Support App facilitates wound assessment and decision-making to help reduce practise variation.
Notes for Editors
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