Rise in elderly population, surge in prevalence of diabetes, obesity and chronic conditions, and top-end technological advancements to deal with complex wounds propel the growth of the global advanced wound care market. By product, the therapy devices segment held the major share in 2018. On the other hand, by region, Asia-Pacific is expected to hold the fastest CAGR by 2026.

Portland, OR, Feb. 10, 2020 (GLOBE NEWSWIRE) --  

According to the report published by Allied Market Research, the global advanced would care market was estimated at $8.45 billion in 2018 and is expected to hit $13.94 billion by 2026, registering a CAGR of 6.5% from 2019 to 2026. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and changing market trends.

Increase in elderly population, rise in prevalence of diabetes, obesity and chronic conditions, and top-end technological advancements to deal with complex wounds drive the growth of the global advanced wound care market. On the other hand, high cost associated with advanced wound care products curtails down the growth to some extent. However, untapped opportunities in developing economies are anticipated to usher in a number of opportunities in the near future.

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The therapy devices to dominate during the forecast period-

Based on product, the therapy devices segment contributed to more than one-third of the total market share in 2018, and is projected to retain its dominance during the forecast period. Simultaneously, the active wound care segment is expected to register the fastest CAGR of 17.4% by 2026.

The hospitals segment to lead the trail through 2019–2026-

Based on end-user, the hospitals segment accounted for nearly three-fifths of total market revenue in 2018, and is anticipated to rule the roost throughout the forecast period. The community centers, on the other hand, would cite the fastest CAGR of 7.0% during 2019–2026.

North America generated the highest share in 2018-

Based on geography, North America garnered the highest share in 2018, holding nearly two-fifths of the total market. At the same time, the region across Asia-Pacific would grow at the fastest CAGR of 8.4% during the study period.

Key players in the industry-

The key market players analyzed in the market report include Medtronic plc., Adynxx, Inc., B Braun Melsungen AG, Medline Industries, Inc., Coloplast A/S, Smith & Nephew Plc., Investor AB (Mölnlycke Health Care AB), ConvaTec Group plc, Essity AB (BSN Medical GmbH), Johnson & Johnson, Integra Lifesciences (Derma sciences), 3M (Acelity Inc.), Organogenesis Holdings Inc., and These market players have taken recourse to several strategies including partnership, expansion, collaboration, joint ventures, and others to heighten their position in the industry.

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