Advanced Wound Care Market Growth – at a CAGR of 9.7% by 2027
Increasing geriatric population across the globe, rising incidence of chronic diseases, and growing healthcare expenditure are some key factors expected to drive Advanced Wound Care market revenue growth.
Emergen Research has published its latest report titled, “Advanced Wound Care Market By Product Type (Moist Wound Dressing, Wound Therapy Devices, Active Wound Care), By Wound Type (Surgical Wounds, Ulcers, Burns, Traumatic Wounds, Others), By End Use (Hospitals and Clinics, Home Care Settings, Others), and By Region Forecasts to 2027”
According to Emergen Research, the global chronic rhinosinusitis market size was USD 9.72 billion in 2019 and is expected to reach USD 20.42 billion in 2027 and register a revenue CAGR of 9.7% during the forecast period, 2020-2027.
Advanced wound care is a specialized treatment designed for chronic and non-healing wounds such as accident injuries, diabetic and pressure ulcers, post-operative wounds, and burns. Advanced wound care devices and products are gaining traction owing to increasing prevalence of acute and chronic wounds caused by diabetes, obesity, traumatic injury, burns, immobility and venous diseases. Leading companies are focused on launching various advanced wound care devices and products including moist wound dressings, wound therapy devices, autografts, and artificial skin substitutes among others.
Factors such as rising incidence of age-related wound injuries, technological advancements in wound care devices, rising number of surgeries, and increasing investments for developing advanced wound care products are expected to fuel market revenue growth during the forecast period. However, lack of favorable reimbursement scenario, limited adoption of advanced wound care devices and products especially in the developing economies, and high costs of advanced treatment and wound care products are key factors that can hamper market growth to a certain extent over the forecast period.
COVID-19 Impact Analysis
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
Moist Wound Dressing Segment to Register Significant Revenue Growth:
The moist wound dressing segment is expected to register significant revenue growth during the forecast period. Factors such as increasing number of road accidents and burn injuries, high prevalence of surgical, chronic, and traumatic wounds, availability of various moist wound dressings for chronic injuries such as diabetic ulcers, pressure ulcers, and some slow healing injuries are expected to drive revenue growth of the segment.
Hospital Segment to Account for Largest Revenue Share:
The hospital segment is expected to account for largest revenue share during the forecast period. This can be attributed to increasing hospital admissions for wounds related to sports, accidents, and surgeries, rising incidence of hospital-acquired pressure ulcers, improving healthcare infrastructure, and availability of advanced wound care treatment and devices.
North America to Lead In Terms of Revenue:
North America is expected to dominate other regional markets over the forecast period owing to factors such as presence of highly developed healthcare facilities, increasing incidence of chronic diseases, road accidents, sports injuries and surgical wounds across the region, and availability of advanced wound care. In addition, rising geriatric population, high healthcare spending, presence of key players and increasing investments in research and development are expected to fuel North America market growth over the forecast period.
Major Companies in the Market Include:
- Smith & Nephew
- Mölnlycke Health Care
- B. Braun
- ConvaTec Group
- Integra LifeSciences
- Cardinal Health
- Lohmann & Rauscher
For the purpose of this report, Emergen Research has segmented into the global advanced wound care market on the basis of product type, wound type, end-user, and region:
Product Type Outlook (Revenue, USD Billion; 2017-2027)
- Moist Wound Dressings
- Wound Therapy Devices
- Pressure Relief Devices
- Negative Pressure Wound Therapy Systems
- Hyperbaric Oxygen Equipment
- Electrical Stimulation Devices
- Other Wound Therapy Devices
- Active Wound Care
- Artificial Skin and Substitutes
Wound Type Outlook (Revenue, USD Billion; 2017-2027)
- Surgical Wounds
- Traumatic Wounds
End Use Outlook (Revenue, USD Billion; 2017-2027)
- Home Care Settings
- Hospitals and Clinics
Regional Outlook (Revenue, USD Billion; 2017–2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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