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Advanced wound care market size was USD 10.9 billion in 2022 and is expected to reach USD 17.9 billion in 2032 With CAGR of 5.7% during the forecast period.

NEW YORK, NY, UNITED STATES, April 20, 2023 /EINPresswire.com/ -- The Advanced Wound Care Market is an ever-growing sector, with the global market size reaching USD 10.9 billion in 2022 and projected to expand to USD 17.9 billion in 2032, marking a substantial increase of 5.7% CAGR during the forecast period. The drivers for such exponential growth are numerous, with an ageing population, increasing chronic wounds, and escalating diabetes rates taking the lead.

As the world's population continues to age, the prevalence of chronic wounds is expected to increase, including pressure ulcers, diabetic foot ulcers, and venous leg ulcers, all contributing to the rise of the advanced wound care market. The World Health Organization (WHO) has estimated that diabetes affected 8.5% of people worldwide in 2014, with this number anticipated to surge to 10.4% by 2040, further boosting the demand for advanced wound care solutions.

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The global advanced wound care market is highly competitive and consists of a number of major players, including:

The 3M Company
Coloplast A/S
ConvaTec Group PLC
Integra Lifesciences Holdings Corporation
Johnson & Johnson Services, Inc.
Medline Industries, Inc.
Mölnlycke Health Care AB
Smith & Nephew plc
Organogenesis Holdings Inc.
Acelity L.P. Inc.

One of the reasons behind the success of the advanced wound care market is the efficiency of sophisticated wound care products in treating complicated wounds. These products utilize cutting-edge technologies, such as advanced dressings, negative pressure wound therapy, and bioengineered skin substitutes, to accelerate the healing process and improve the quality of life for patients.

In conclusion, the advanced wound care market is set to continue its impressive growth trajectory, driven by an ageing population, increasing chronic wounds, and rising prevalence of diabetes. The market's revenue growth is further propelled by the effectiveness of advanced wound care products in treating complex wounds, making it a crucial sector for the healthcare industry.

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Some Key Highlights from the Report

• In March 2020, Smith+Nephew, a global medical technology company, launched the PICO 14 Single Use Negative Pressure Wound Therapy System (sNPWT). This system requires less user intervention and has an enhanced pump duration of 14 days. It is particularly suitable for patients undergoing abdominal surgery, cardiothoracic surgery, and Coronary Artery Bypass Graft Surgery (CABG), where the risk of Surgical Site Complications (SSCs) and their consequences are high.
• The infection management segment generated the largest revenue share in 2021 due to the rising incidence of burn injuries and increased spending on surgical wounds. The healthcare sector's technological advancements and improvements in diagnostics are other factors contributing to the growth of this segment.
• The chronic wound segment accounted for the largest revenue share in 2021 due to the growing prevalence of post-operative surgical wounds. The segment's growth is being driven by increasing awareness regarding advanced diagnosis and rapid technological advancements in healthcare. Chronic wounds are typically treated by removing inflamed or dead tissues through a process called debridement, which may involve the use of instruments such as curettes, tweezers, or scalpels.
• The hospitals segment accounted for the largest revenue share in 2021 due to the large number of treatment procedures and surgeries performed in hospitals. Many patients prefer to visit hospitals for the treatment of various diseases and wounds, including surgical wounds, ulcers, and burns.
• The North American market accounted for the largest revenue share in 2021, which can be attributed to the development and innovation of advanced wound care products. The increasing prevalence of acute wounds and the rising costs associated with medical treatments for diabetic foot ulcers are also driving the growth of the advanced wound care market in this 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

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Key Advantages of Advanced Wound Care Report:

• Identification and analysis of the market size and competition
• Qualitative and quantitative analysis of the market data
• Data validated by industry experts after extensive primary and secondary research
• Extensive regional analysis of the Advanced Wound Care industry
• Profiling of key players along with their business overview, business strategies, deals and partnerships, and product portfolio
• SWOT and Porter’s Five Forces Analysis for in-depth understanding of the competitive landscape
• Feasibility analysis and investment analysis to enable strategic investment decisions
• Analysis of opportunities, drivers, restraints, challenges, risks, and limitations

Conclusively, all aspects of the Advanced Wound Care market are quantitatively as well qualitatively assessed to study the global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations and its future prospects.

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