COVID-19 pandemic negatively impacted the growth in the global active wound care market.
The global active wound care market is expected to witness strong growth during the forecast period between 2021 and 2031.
Active wound care procedures are performed to remove necrotic tissues in a bid to promote healing. Some of the procedures involved in active wound care include allografts, xenografts, and cell-based therapies.
COVID-19 pandemic negatively impacted the growth in the global active wound care market. With rising cases globally, surgical operations at healthcare facilities were postponed to a later date owing to social distancing regulations imposed by governments. Also, key healthcare personnel such as doctors and nurses were transferred to cure patients suffering from the virus.
This reduced the demand for active wound care products at healthcare infrastructure facilities and lowered the growth in the overall market.
Active Wound Care Market - Trends and Opportunities
Rising drawbacks in conventional wound healing methods is the key growth driver for the global active wound care market.
Also, increasing presence of different chronic diseases such as diabetes and cancer could create significant revenue-generating opportunities for leading active wound care market players, in the coming years.
In addition to this, growing need to spend reduced time in hospitals and clinics in recovery could fuel the demand for active wound care products and help the global market grow at a steady pace, in the years ahead.
Development in the mhealth segment with the emergence of novel applications which assist consumers in taking informed decisions could also contribute to the growth of prominent active wound care market players, in future.
Other factors such as advancements to existing products and rising disposable income could also bolster the active wound care market, in years to come.
Biomaterials segment is expected to make the largest contribution, in terms of revenue, to the overall active wound care market in future because of rising biomaterials demand for various wound care procedures.
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Active Wound Care Market - Competitive Landscape
The presence of several well-established market players has ensured that the competition in the global active wound care market has intensified. It is projected that prominent market players will account for a large share in the overall market, in future.
Research and development activities to produce improved quality of product could be a key growth strategy for leading market players, in the years ahead.
Growth strategies such as novel product launches could help well-established active wound care market players create new revenue-generating opportunities and gain a competitive edge over other players.
ConvaTec Group PLC, in 2020, announced the launch of a novel hyper absorbent wound dressing material called ‘ConvaMax’ which has proven beneficial in managing different wounds such as diabetic foot ulcers and leg ulcers.
Some of the leading players in the global active wound care market include Smith & Nephew, Human BioSciences, ConvaTec Group PLC, Acell Inc., and Solys Medical.
Active Wound Care Market - Regional Assessment
North America is expected to be the dominant region in the global active wound care market because of rising demand for improved treatment solutions among different population sections in countries such as US and Canada.
North America could emerge as the fastest growing market for mhealth owing to rising investments from leading market players in countries belonging to the region.
Asia Pacific is anticipated to offer lucrative revenue-generating opportunities for the overall market in future because of changing customer lifestyles owing to rising prevalence of chronic diseases such as India and China.
Future market demand for mhealth could be high in Asia Pacific countries, with continuous development in terms of increasing number of market players in these countries.
Europe is projected to witness strong growth in the overall active wound care market because of favorable government policies in countries such as UK and Germany, contributing to market growth in the region.
The rest of the world is expected to witness moderate growth in the active wound care market, in the coming years.
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