Advanced Wound Care 2024 Industry - Technologies, Applications, Verticals, Strategies & Forecast 2030

 

Advanced Wound Care Industry Overview

The global advanced wound care market was valued at USD 10.77 billion in 2023 and is projected to grow at a CAGR of 4.75% from 2024 to 2030.

The increasing number of surgeries, the augmenting number of road accidents, trauma cases & burns, and the introduction of innovative & advanced wound products are some of the factors driving market growth. In addition, the rising prevalence of chronic diseases that affect wound healing capabilities further elevates the demand for advanced wound products. Moreover, the growing geriatric population is expected to propel market growth, as the geriatric population has slow healing capabilities.

Gather more insights about the market drivers, restrains and growth of the Advanced Wound Care Market

According to the United Nations Population Fund’s India Ageing Report 2023, the population over 60 is likely to increase from 14.9 crores in 2022 to 34.7 crores by 2050, which is expected to propel market growth. People with diabetic foot ulcers (DFU) are at a high risk of lower-extremity amputation. As per a ScienceDirect article, diabetic foot ulcers may affect more than 25.0% of the diabetic population and may result in amputation in 20.0% of patients. However, advanced wound care products help cure diabetic foot ulcers, which are prevalent in diabetic patients. Thus, an increasing number of diabetic patients is expected to elevate the use of advanced wound care products. These products especially help in moisture retention and facilitate rapid internal and external wound healing. Furthermore, these products help in the absorption of necrotic tissues, which are effective in surgical site infections. Hence, healthcare professionals prefer to use advanced wound care products, which is anticipated to propel global wound care market growth over the forecast period.

The COVID-19 pandemic significantly impacted the advanced wound care market. The industry experienced a dip in the demand for advanced wound care products as many hospitals and clinics had to postpone elective surgeries, affecting market growth. Moreover, the outbreak created large-scale opportunities for local manufacturers.

However, the market experienced lucrative growth post-pandemic. Many companies underwent new product launches and mergers and acquisitions, further increasing their product portfolio. For instance, in April 2023, 30 Technology Limited’s anti-infective nitric oxide technology platform was acquired by the Convatec Group PLC, encompassing all chronic & acute wound care assets, research & development, and commercial applications of the technology.

Browse through Grand View Research's Medical Devices Industry Research Reports.

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Key Advanced Wound Care Company Insights

Key market players operating in the advanced wound care industry are undertaking multiple initiatives in order to strengthen their market presence and improve their products and services reach. Strategies such as expansion activities and partnerships are playing a key role in propelling the market growth.

·         ConvaTec Group PLC

·         Smith & Nephew PLC

·         Mölnlycke Health Care AB

·         B. Braun Melsungen AG

·         3M

·         URGO

·         Coloplast Corp.

·         Integra LifeSciences

·         Medline Industries, Inc

Recent Developments

In October 2023, DuPont launched a novel soft skin adhesive (SSA), DuPont Liveo MG 7-9960, that boasts higher adhesion and lower cyclic silicone. This advanced adhesive has been specifically designed to be used in wound care dressings and for attaching medical devices to the skin, allowing for extended wear time and gentle removal.

In June 2023, JeNaCell (Evonik) introduced the wound dressing- epicite balance to the German market. The dressing is especially well-suited and adapted for the management of chronic wounds with low to medium levels of exudation, including soft tissue lesions, diabetic foot ulcers, venous leg ulcers, and arterial leg ulcers.

In October 2022, Healthium Medtech introduced a new line of wound dressings, "Theruptor Novo," for the treatment of persistent sores such as diabetic foot ulcers and leg ulcers.

Global Advanced Wound Care Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global advanced wound care market report based on product, application, end use, and region:

Product Outlook (Revenue, USD Million, 2018 - 2030)

·         Moist

o    Foam Dressings

o    Hydrocolloid Dressings

o    Film Dressings

o    Alginate Dressings

o    Hydrogel Dressings

o    Collagen Dressings

o    Other Advanced Dressings

·         Antimicrobial

o    Silver

o    Non-silver

·         Active

o    Biomaterials

o    Skin-substitute

o    Growth Factors

Application Outlook (Revenue, USD Million, 2018 - 2030)

·         Chronic Wounds

o    Diabetic Foot Ulcers

o    Pressure Ulcers

o    Venous Leg Ulcers

o    Other Chronic Wounds

·         Acute Wounds

o    Surgical & Traumatic Wounds

o    Burns

End Use Outlook (Revenue, USD Million, 2018 - 2030)

·         Hospitals

·         Specialty Clinics

·         Home Healthcare

·         Others

Regional Outlook (Revenue, USD Million, 2018 - 2030)

·         North America

o    US

o    Canada

o    Mexico

·         Europe

o    Germany

o    UK

o    France

o    Italy

o    Spain

o    Denmark

o    Sweden

o    Norway

·         Asia Pacific

o    China

o    Japan

o    India

o    South Korea

o    Australia

o    Thailand

·         Latin America

o    Brazil

o    Argentina

·         MEA

o    South Africa

o    Saudi Arabia

o    UAE

o    Kuwait

Order a free sample PDF of the Advanced Wound Care Market Intelligence Study, published by Grand View Research.

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