Advanced Wound Care Market Size By Product (Wound Dressings {Antimicrobial Dressing, Hydrogel Dressings, Foam Dressings, Film Dressings, Hydrocolloidal Dressings}, Wound Therapy devices, { Negative Pressure Wound Therapy Systems, Pressure Relief Devices, Electrostimulation Devices, Oxygen and Hyperbaric Oxygen Equipment}, Others{ Bioengineered Skin and Substitutes, Growth Factors}), By Application (Diabetic Wounds, Skin Burn Wounds, Pressure Wounds, Surgical Wounds, Venous Legs Ulcers), By End Use (Hospitals, Homecare Settings) Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Spain, Netherland, Belgium, Austria, Japan, India, China, South Korea, Australia, Brazil, Argentina, Mexico, South Africa, Saudi Arabia, UAE, Kuwait, Qatar), Application Potential, Competitive Market Share & Forecast, 2018 - 2024

Published Date: August 2018 | 180 Pages | Report ID: GMI2871 Report Format: PDF

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Industry Trends

Advanced Wound Care Market size was valued at USD 9.3 billion in 2017 and is expected to witness more than 5% CAGR from 2018 to 2024.

India Advanced Wound Care Market, By Product, 2013 – 2024, (USD Million)

India Advanced Wound Care Market, By Product, 2013 – 2024, (USD Million)

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Increasing incidences of chronic diseases such as diabetes, obesity and consequent rise in incidences of chronic wounds will drive advanced wound care market over the forecast period. Impaired or delayed wound healing in chronic diseases as well as after surgical procedures poses serious threat to patients and put them at risk of infection, amputation and even death. As a result, unmet need of superior healing technologies that enable rapid healing is prevailing in the global wound care industry.

Rising geriatric population base that are at high risk of developing chronic wounds will support the demand of advanced wound care products. This rising patient pool suffering from chronic wounds causes significant cost burden on healthcare systems across the globe. The existing and rising cost burden of these chronic wounds is predicted to drive the investments in advance wound care technology rendering significant positive impact on industry growth. However, prohibitive cost of advance wound care products that often undermines treatment affordability will impede the industry growth in foreseeable future.

Advanced Wound Care Market, By Product

Wound dressing currently accounted for USD 4.9 billion in 2017 and is expected to retain its dominant position in the industry throughout the analysis period. Increasing awareness pertaining to the benefits of advanced wound dressing and its gradually increasing adoption will augment the segment growth. However, traditional wound dressings are still used in developing and underdeveloped regions due to low cost that is expected to impede segment growth to some extent.

Wound therapy devices segment of advanced wound care market will witness more than 6% CAGR from 2018 to 2024. Negative pressure wound therapy (NPWT) currently represents lucrative growth opportunity amongst all devices.  NPWT effectively treats acute as well as chronic wounds and have several benefits compared to other methods such as early discharge, easier transfer to other healthcare settings, and minimizes the frequency of wound dressing changes. Such advantages will enable NPWT to retain its market share over the forecast period.

Advanced Wound Care Market, By Application

Diabetic wounds application segment is forecasted to witness 5.9% CAGR over the forecast period. Diabetic foot ulcers are responsible for significant mortality and morbidity in patients with diabetes mellitus. Prevalence of diabetic foot ulcers is forecasted to grow rapidly over the coming years. Increasing prevalence of obesity, lifestyle changes, and unhealthy eating habits are further expected to support growing prevalence. Rising number of diabetic foot ulcer patients should generate huge demand for advanced wound care products.

Surgical wounds application segment accounted for USD 2.9 billion in 2017 and is estimated to dominate the industry throughout the analysis period. Surgical wounds extend the hospital stay, cause huge economic burden and significantly hamper quality of life. Increasing number surgeries due to trauma, accidents and rising prevalence of chronic diseases will spur the advanced wound care market over forecast period.

Advanced Wound Care Market, By End Use

Hospital end use segment of advanced wound care market accounted for USD 3.9 billion in 2017. Significant number of patients suffering from chronic and acute wounds are treated at hospitals. Moreover, as the hospitals are well equipped with the infrastructure required for surgical treatments, most of the surgical treatments are conducted in hospital settings. This further supports the demand of advanced wound care products to treat surgical wounds and infections.

Home care end use segment estimated to witness 6.9% CAGR from 2018 to 2024. Aging demographics and rising healthcare cost are predicted to shift preference from hospital to home care. Advantages associated with home care settings such as greater comfort for the patient, reduced chances of hospital acquired infections and cost benefits will drive the segment growth over the analysis period.

Advanced Wound Care Market, By Region

North America advanced wound care market currently dominates the global industry with revenue USD 3.9 billion and the scenario is likely to remain so over the forecast period. High and rising prevalence chronic and acute wounds and increasing number of surgeries will drive the regional demand. Moreover, high level of awareness and adoption of advanced wound care devices such as NPWT will augment regional growth in coming years.

India advanced wound care market is estimated to show 7.9% CAGR from 2018 to 2024. The market is at initial stages of developments and significant number of patients are still dependent on traditional wound care products. Moreover, the awareness pertaining to availability of advanced wound care products is limited. High cost of products further impedes the affordability of advance wound care treatments in India to some extent.


Competitive Market Share

Some of the key players in global advanced wound care market are Medtronic, Smith and Nephew, 3M, Derma Sciences, Acelity, Mölnlycke, Integra LifeSciences Corporation, Organogenesis, MPM Medical, Human Biosciences, Hollister Incorporated, Beiersdorf global, HARTMANN International, and Medline Industries. Inc. Key strategies adopted by most of the key industry players include, acquisitions, mergers, distribution agreements and innovative product launch to strengthen product portfolio and garner higher market share. For instance, in July 2018, Mölnlycke completed acquisition of SastoMed GmbH, a German wound care company to expand its product portfolio and offerings in advanced wound care market.


Advanced Wound Care Industry Background

Advanced Wound Care Market Industry Coverage

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Advanced wound care market is rapidly growing segment of wound care industry. The patient in developed economies are well informed regarding the benefits and availability of the advanced wound care products. They also have high adoption and affordability rates for the advanced wound care products. As a result, the developed economies accounted for more than half of the revenue share in global advanced wound care industry. In developing regions, wound care industry is still in the initial stages of developments. High cost associated with advanced wound care products has kept them out of reach of most of the patients in developing economies. Limited awareness further expected to slow down the industry growth. However, rising disposable income and developing healthcare infrastructure is expected to drive industry growth this region.

What Information does this report contain?

Historical data coverage: 2013 to 2017; Growth Projections: 2018 to 2024.
Expert analysis: industry, governing, innovation and technological trends; factors impacting development; drawbacks, SWOT.
6-7 year performance forecasts: major segments covering applications, top products and geographies.
Competitive landscape reporting: market leaders and important players, competencies and capacities of these companies in terms of production as well as sustainability and prospects.

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