Advanced Wound Care Market worth over $14.4bn by 2026

Advanced Wound Care Market size is set to exceed USD 14.4 bn by 2026; according to a new research report by Global Market Insights, Inc.
 

Rising number of surgical procedures resulting in surgical wounds coupled with propelling number of accidents and trauma injuries will boost the demand for advanced wound care devices. Aging population along with surging incidences of chronic diseases will lead to rapid growth in number of surgical procedures.


 

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Increasing incidences of chronic diseases such as obesity, diabetes and subsequent growth in chronic wounds will enhance the market growth. A stupendous rise in prevalence of diabetes has been observed from past few decades, and the trend is projected to continue during the forecast timeframe. As per the CDC’s National Diabetes Statistics Report for 2020, the diabetes cases have risen to 34.2 million in the U.S. As a result, there is high demand of advanced wound care products that enable better management of wounds. However, high cost associated with the medical devices may hinder the market value.
 

Rising awareness regarding benefits of wound dressings will accelerate the market demand

Advanced Wound Care Market

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The wound dressings segment valued at over USD 5.5 billion in 2019. Increasing awareness related to the benefits of advanced wound dressings such as easy oxygen flow, wound protection and emergence of new cells will fuel the industry growth. Different associations such as Burn Care Trust and others are operational in providing critical care that offers superior quality of wound dressings that will drive the market revenue. Moreover, benefits offered by hydrogel dressings include quicker epidermis repair and fast removal of dead tissues resulting into increasing adoption rate of wound dressings.
 

Browse key industry insights spread across 258 pages with 409 market data tables & 16 figures & charts from the report, “Advanced Wound Care Market Size By Product (Wound Dressings {Antimicrobial Dressings, Alginate Dressings, 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}, 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, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/advanced-wound-care-market
 

Growing demand for advanced wound care devices for treatment of pressure wounds influence the market progression

The pressure wounds application segment accounted for more than 10% of the advanced wound care market share in 2019. Rising prevalence of pressure wounds including bedsores will create a positive impact on the market growth as pressure wounds are associated with longer hospital stays along with high mortality and morbidity. According to the Agency for Healthcare Research & Quality (AHRQ), over 2.5 million people in the U.S. develop pressure ulcers each year. Patients suffering from chronic disorders such as diabetes have slower healing rates and are prone to bedsores. Pressure ulcers also require advanced wound therapy that includes several complications such as septic arthritis and cellulites bacteremia sepsis that foster the demand for electrostimulation advanced wound therapy devices.
 

Low risk of infection at home can provide several growth opportunities

The homecare settings end-use segment will showcase growth rate of over 6.8% till 2026. Growing preference by geriatric population for advanced wound therapies at home will escalate the market expansion. Key industry players have developed portable wound therapy devices that provides convenience and operational ease at home driving the market value. Additionally, elders suffering from diabetes have low injury healing rate and may not pay regular hospital visits that secures the demand for advanced wound care products at home. Advantages for home care settings include reduced chances of hospital acquired infections, greater patient comfort and cost benefits the market revenue.
 

Increasing prevalence of chronic diseases in European region will augment the demand for advanced wound care devices

Europe advanced wound care market size was around USD 2.5 billion in 2019. Growing prevalence of chronic disorders such as diabetes, and foot ulcers across the European region will accelerate the market demand. For instance, according to the World Health Organization (WHO), around 60 million people in the European Union suffer from diabetes. Surging number of diabetic patients due to obesity, unhealthy diet and physical inactivity will create demand for advanced wound care products. Rising initiatives undertaken by public and private organizations to improve healthcare systems and spread awareness regarding benefits of advanced wound care products will favor the industry expansion.
 

Strategic implementation by leading market players will spur the industry growth

Some of the prominent companies operating in the market include Smith and Nephew, 3M, Coloplast, Hollister Incorporated, Beiersdorf global, Mölnlycke, HARTMANN International, ConvaTec Group, Derma Sciences, MPM Medical, B. Braun, Medline Industries, Organogenesis, Integra LifeSciences Corporation and Lohmann & Rauscher. The market participants are involved into different strategic agreements such as product launch to gain significant market shares in advanced wound care business.
 

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