The global advanced wound care market valued USD 8.2 Billion in 2019. Wound care market is projected to grow at a CAGR of 5.8% during the forecast period.
COVID19 has impacted all the businesses across the globe. World Health Organization has declared Corona virus as a pandemic. The COVID19 has disrupted the wound care market. Elective surgeries are postponed or cancelled and wound care services are also denied. People across the world are afraid entering the hospitals due to corona virus. Hence due to COVID-19 the wound care market is estimated to foresee decline in its initials phase of forecast period but it can witness growth in latter phase of forecast period.
For more details, visit: Global Advanced Wound Care Market By Type (Device & Accessories, Grafts & Matrices, Others), By Wound Type (Surgical & Traumatic, Diabetic, Other), By End User (Hospitals, Home Care, Others), By Region– Forecast & Opportunities to 2026
The rising prevalence of chronic and surgical wounds is driving the advanced wound care market. The population is increasing immensely worldwide so does the cases of diabetics and obesity. Due to diabetics and obesity the overall incidents of wounds are rising worldwide. The Complexities of such wounds are also increasing like infections and ulcerations which require treatment from advanced wound care products.
Based on the product the advanced wound care market is segmented into device & accessories, grafts & matrices, dressings and topical agents. Dressing wound care system has accounted for maximum market share in 2019.
Based on the wound type the advanced wound care market is segmented into surgical & traumatic wounds, diabetic wounds, pressure ulcers, venous leg ulcers and burns & other wounds. Surgical & traumatic segment has accounted for maximum market size in the year 2019. It is projected to witness growth at highest CAGR during the forecast period. The rising cases of diabetic foot ulcers and diabetes drives the surgical and traumatic wounds segment to witness highest growth during the forecast period.
Based on the end user the advanced wound care market is segmented into Hospitals, ASCS & wound care centers, home care settings and other. The Hospitals, ASCS & wound care centers accounted for maximum market share in 2019. It is projected to register growth at highest CAGR during the forecast period. Growing cases of surgical and chronic wounds are the major driving factors of this segment.
North America region has accounted for largest market share in 2019. North America market is projected to register growth at highest CAGR during the forecast period. The growing number of chronic, surgical and traumatic wounds in North America region is driving market of advanced wound care market. The people in this area prefer advanced wound care products over traditional wound care products. The technological advancement in North America region is also driving advanced wound care market.
The key market players in advanced wounds care market are Molnlycke Health Care AB, Smith & Nephew Plc, Barun Melsungen Ag, 3M Group, ConvaTec Group, Coloplast A/S, Cardinal Health Inc., Integra Life Science Holdings Corp., Paul HARTMANN, Medline Industries, Advancis Medical LLC, Lohmann & Rauscher, Organogenesis, MiMedx Group, WElcare Industries, De Royal industries Inc., Winner Medical Co., Kerecis and Holister. The key market players are focusing majorly on introducing technological advanced products to strengthen their market presence.
- What are the expected industry trends over the next three to five years?
- Which of the advanced wound care type is likely to lead by 2025?
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