Advanced Wound Care Market Emerging Technologies, Share, Competitive Analysis and Growth In Future and Global Analysis By Forecast To 2031

The advanced wound care market was valued at $9,255.70 million in 2019, and is estimated to reach at $15,305.94 million by 2027, registering a CAGR of 11.6% from 2020 to 2027. Significant increase in prevalence of chronic diseases such as diabetes & obesity, rise in geriatric population, technological advancements in advanced wound care products, problems associated with traditional wound healing methods, and surge in adoption of evidence-based treatments such as silver dressings, hyperbaric oxygen, electrotherapy, and ultrasound for chronic wounds are the key factors that fuel the growth of the advanced wound care market.

The wound healing process can be facilitated in two different ways, including traditional wound care (TWC) and advanced wound care (AWC). Chronic wounds take more time to heal and are expensive to treat. Thus, advanced wound care is developing as a standard solution for treating chronic wounds. Moreover, traditional wound care products such as hydrocolloids, hydrogels, film & foam dressings, and alginates are being increasingly replaced with advanced wound care products, due to their enhanced efficiency & effectiveness in managing wounds by enabling rapid healing. Moreover, they offer various advantages such as they aid to maintain a hydrated environment for appropriate flow of oxygen, keep temperature consistent, protect the wound site from exogenous infection, and ease pain associated with dressing changes.

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Moreover, rise in awareness programs for advanced wound care treatment & management, attempts to reduce the duration of the hospital stay to lower healthcare expenses, and rise in inclination toward wound care products that enhance therapeutic outcomes are other factors that contribute toward the growth of the market. However, high cost associated with advanced wound care products are expected to hinder the growth of the market.

The advanced wound care market is segmented into product, application, end user, and region. By product, the market is categorized into infection management, exudate management, active wound care, and therapy devices. Infection management is sub segmented into silver dressings, non-silver dressings, and collagens. The exudate management segment is further divided into hydrocolloid dressings, foam dressings, alginate dressings, and hydrogel dressings. The active wound care is subdivided into skin substitutes and growth factors. The therapy devices is further segmented into negative pressure wound therapy (NPWT), oxygen & hyperbaric oxygen equipment, electromagnetic therapy devices, and others. The applications covered in the study include chronic wounds and acute wounds. The chronic wounds segment is further segregated into pressure ulcers, diabetic foot ulcers, venous leg ulcers, and arterial ulcers. The acute wounds is further fragmented into burns & trauma, and surgical wounds. Depending on end user, the market is classified into hospitals and community health service centers. On the basis of region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The healthcare sector is vital to both national economies and people all across the world. One of the industries with the fastest growth rates is this one. There is a correlation between income levels and healthcare spending across nations because healthcare spending accounts for more than 10% of the GDP of the majority of developed countries. According to the Centers for Medicare and Medicaid Services, US healthcare spending increased by 4.6% in 2019 to reach US$ 3.8 trillion, or US$ 11,582 per person and represented 17.7% of GDP. Additionally, households paid for 28.4% of all health expenditures, followed by the federal government for 29.0%. 16.1% of all healthcare costs were paid for by state and municipal governments, while 7.5% came from other private sources.

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Due to advancements spurred by AI/ML, the impact of digital health technology will grow. Data from the Department for Promotion of Industry and Internal Trade show that FDI in the medicines and medication sector totaled US$19.12 billion (DPIIT).

KEY BENEFITS FOR STAKEHOLDERS– The study provides an in-depth analysis of the global advanced wound care market along with the current trends and future estimations to elucidate the imminent investment pockets.– A comprehensive analysis of the factors that drive and restrict the market growth is provided in the report.– Comprehensive quantitative analysis of the industry from 2019 to 2027 is provided to enable the stakeholders to capitalize on the prevailing market opportunities.– Extensive analysis of the key segments of the industry helps to understand the application and products of advanced wound care used across the globe.– Key market players and their strategies have been analyzed to understand the competitive outlook of the market.

LIST OF KEY PLAYERS PROFILED IN THE REPORT– 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 (Molnlycke Health Care AB)– Johnson & Johnson– Medline Industries, Inc.– Medtronic plc.– Organogenesis Holdings Inc.– Smith & Nephew Plc.

KEY MARKET SEGMENTS

By Product type– Infection Managemento Silver Wound Dressingso Non-silver Dressingso Collagen Dressings– Exudate Managemento Hydrocolloids Dressingso Foam Dressingso Alginate Dressingso Hydrogel Dressings– Active Wound Careo Skin Substituteso Growth Factors– Therapy Deviceso Negative Pressure Wound Therapy (NPWT)o Oxygen and Hyperbaric Oxygen Equipmento Electromagnetic Therapy Deviceso Others

By Application– Chronic Woundso Pressure Ulcerso Diabetic Foot Ulcerso Venous Leg Ulcerso Arterial Ulcers– Acute Woundso Burns & Traumao Surgical Wounds

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By End User– Hospitals– Community Health Service Centers

By Region

North America– U.S.– Canada– MexicoEurope– Germany– UK– France– Italy– Spain– Rest of EuropeAsia-Pacific– Japan– China– India– Rest of Asia-PacificLAMEA– Brazil– Saudi Arabia– South Africa– Rest of LAMEA

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