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Global Advanced Wound Care Market is anticipated to reach $15.5 bn by 2031 - 3M (Acelity Inc.), Inc., B Braun Melsungen

Global Advanced Wound Care Market is anticipated to reach $15.5 bn by 2031 - 3M (Acelity Inc.), Adynxx, Inc., B Braun Melsungen AG, Coloplast A/S

16192, COASTAL HIGHWAY, LEWES DE 19958, USA, May 18, 2023 / -- Global Advanced Wound Care Market is expected to reach $15.5bn by 2031 growing at a CAGR of 5.5% between 2021 and 2031.
Wound care management products are bifurcated into traditional wound care and advanced wound care products. Traditional wound care management is more preferred across the globe wherein health practitioners use wound care products like medical tapes, dressings, and bandage rolls to protect the wound from external factors and to prevent bleeding and infections.

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Advanced wound care products promote a natural healing process, without restraining the wound and comprise the use of foam dressings, alginates, hydrogels, and hydrocolloids. These products ensure beneficial wound healing, optimum oxygen flow, consistent temperature, and protection from external factors.
Market Drivers

Ageing population across the globe
According to the UN Department of Economic and Social Affairs, in 2019, there were 703 million persons aged 65 years or over in the global population. This figure is projected to double to 1.5 billion in 2050. Globally, the share of the population aged 65 years or over increased from 6% in 1990 to 9% in 2019.

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That proportion is projected to rise further to 16% in 2050, when it is expected that one in six people across the globe will be aged 65 years or over. Such an intense rise in the population will create opportunities for advanced wound care as the wounds heal slowly and require high medical attention in geriatric people. So, in aged people, it becomes difficult to treat wounds owing to the high risk of infection, especially in cases of deep wounds.

Impact of COVID-19 on Advanced Wound Care Market
The impact of COVID-19 on the industry is observed to be negative as a large number of countries adopted lockdown to restrain community transmission of the COVID-19 infection. The market witnessed a short-term disruption during the initial days of the COVID-19 pandemic due to the supply chain disruptions and a decline in non-urgent in-person clinic visits resulting negatively. Owing to the rapid spread of the COVID-19, several manufacturers in the market have been forced to halt their production and manufacturing operations. The risk of patients contracting COVID-19 infection in hospitals and other healthcare settings hampered the growth of the market. Special care and measures are being taken for needy patients in a controlled environment to combat the COVID-19 pandemic which will restore the industry growth to some extent.

Market Segments

By Product
• Dressings
• Devices & Accessories
• Grafts & Matrices
• Topical Agents
By Wound Type
• Surgical & Traumatic Wounds
• Diabetic Foot Ulcers
• Pressure Ulcers
• Venous Leg Ulcers
• Burns & Other Wounds
By End User
• Hospitals
• Community Health Service Centers

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Market Players of Global Advanced Wound Care Market

The key players in the global Advanced Wound Care Market are 3M (Acelity Inc.), Adynxx, Inc., B Braun Melsungen AG, Coloplast A/S, ConvaTec Group plc, Essity AB (BSN Medical GmbH), Integra Lifesciences (Derma sciences), Investor AB (Mölnlycke Health Care AB), Johnson & Johnson, Medline Industries, Inc., Medtronic plc., Organogenesis Holdings Inc., and Smith & Nephew Plc. among others.

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