Advanced Wound Care Market Size

Advanced Wound Care Market Size

Advanced Wound Care Market size exceeded USD 9.3 billion in 2020 and is anticipated to grow at a CAGR of over 5.6% from 2021 to 2027. Chronic wounds have become more common over the last decade due to the increasing geriatric population, prevalence of diabetes, and obesity worldwide. Obesity and diabetes significantly enhanced the incidence rate and complication of wounds such as ulcerations, surgical wounds, and infections that require treatments.

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Moreover, increasing cases of age-related wound injuries will further propel the market expansion during the forecast timeline. The impact of COVID-19 on the industry is observed to be negative since a large number of countries adopted lockdown to curb community transmission of the COVID-19 infection. The market witnessed a short-term disruption during the initial days of the COVID-19 pandemic owing to the supply chain disruptions and decline in non-urgent in-person clinic visits resulting in a negative impact. Because of the rapid spread of the coronavirus, 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 curbed the growth of market. Special care and measures are being taken for needy patients in a controlled environment to combat COVID-19 pandemic that will restore the industry growth to some extent.