Global advanced wound care market size to expand at 9.8% CAGR through 2027
Advanced Wound Care Market - Overview
The latest ‘global advanced wound care market’ report offers a comprehensive take on the industry outlook for 2020-2027, based on augmentation history and current business landscape. Apart from expounding the key growth drivers and restraints, new opportunities that will help industry partakers carve off a larger portion of industry share are discussed at length.
According to industry experts, worldwide advanced wound care market was valued USD 15 billion in 2019 and is expected to showcase a healthy growth rate of 9.8% over 2020-2027. Increased pervasiveness of burn injuries, surgical wounds, traumatic wounds, obesity, along with rising expenditure on chronic wounds are fueling the industry growth.
To define the overall size of the market, the research literature encompasses country-level analysis of the various regional markets. Proceeding further, segmentation data including product terrain, wound type, application spectrum, and end-user scope are furnished in the document. Besides, the report profiles the top players in this domain and investigates the strategies adopted by them to fortify their position at a global scale.
Furthermore, elderly population who are at an increased risk of suffering from wounds are adding considerable traction to the industry expansion. In fact, American aging population (65 and above) was 16% in 2018 and is expected to increase by 22% in 2050, as stated Statistica. Likewise, increasing number of people in this age group across various parts of the globe will bolster the demand for wound care solutions in the coming years.
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Notably, advanced wound care products are designed to treat complex wounds which require a longer healing period. These products include dressings, grafts & matrices, devices & accessories, and topical agents. Innovations in these products are likely to push the market forward in the coming years. Moreover, strategic alliances by major players will positively impact the industry outlook. For instance, 3M company, on October 2019, acquired Acelity, Inc. and its KCI subsidiaries globally to expand its medical solutions business and offer advanced wound care solutions to a larger target base.
Despite the positive outlook of the overall advanced wound care market, high cost and risks associated with the use of these products will negatively impact the industry dynamics in the forthcoming years.
Global advanced wound care industry size is split into Asia Pacific, North America, Latin America, Europe, and Rest of the World. North America currently accounts for majority of the industry share and will continue to witness an upward growth trajectory over the analysis period. Increasing cases of chronic, surgical, and traumatic wounds due to growing prevalence of chronic illnesses, along with escalating expenditure on wound treatment and technological advancements are the supporting the regional market expansion.
To access a sample pages of this report titled “Global Advanced Wound Care Market Size study by Product (Dressings, Devices & Accessories, Grafts & Matrices and Topical Agents), by Wound Type (Surgical & Traumatic Wounds, Diabetic Foot Ulcers, Pressure Ulcers, Venous Leg Ulcers and Burns & Other Wounds), by End-User (Hospitals, ASCs and Wound Care Centers, Homecare Settings and Others) and Regional Forecasts 2020-2027” in detail along with the table of contents, please click the link below:
Global Advanced Wound Care Market Product Terrain (Revenue, USD Billion, 2017-2027)
- Grafts & Matrices
- Devices & Accessories
- Topical Agents
Global Advanced Wound Care Market Wound Type Sub-Segments (Revenue, USD Billion, 2017-2027)
- Surgical & Traumatic Wounds
- Pressure Ulcers
- Diabetic Foot Ulcers
- Venous Leg Ulcers
- Burns & Other Wounds
Global Advanced Wound Care Market End User Spectrum (Revenue, USD Billion, 2017-2027)
- Homecare Settings
- Hospitals, ASCs and Wound Care Centers
Global Advanced Wound Care Market Geographical Fragmentation (Revenue, USD Billion, 2017-2027)
- United States
- United Kingdom
- Rest of Europe
- South Korea
- Rest of APAC
Rest of the World
Global Advanced Wound Care Market Company Profiles (Revenue, USD Billion, 2017-2027)
- Organogenesis Holdings, Inc.
- Cardinal Health, Inc.
- B. Braun Melsungen AG
- Paul Hartmann AG
- Integra Lifesciences Holdings Corp.
- Mölnlycke Health Care AB
- Coloplast A/S
- Convatec Group plc
- Smith & Nephew plc
- 3M Company
Global Wound Care Centers Market Size, Regional Forecasts 2020-2027
Global Wound Care Centers Market is valued approximately at USD 36.1 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 4.6% over the forecast period 2020-2027, as per new research report. Wound Care Center is a type of medical facility that facilitates the treatment of wounds that do not heal. Specialized wound care centers are increasingly built since it speeds up the treatment or healing while reducing the risk of infection. Chronic wounds are considered as a vital healthcare concern, especially among the increasing geriatric patients, as well as patients with several comorbidities.
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