The rising incidence of wounds including burns, blisters and chronic disorders like diabetes and cancer-associated active wounds leads to an extremely high demand for Advanced Wound Care. Key pharma players like Mölnlycke Health Care AB, ConvaTec Group, 3M Group, Accel-Heal, Zimmer Biomet, and others are actively stepping and pushing the Advanced Wound Care market space.
LAS VEGAS, Oct. 19, 2021 /PRNewswire/ -- DelveInsight's Advanced Wound Care Market Insights and Forecast report provides the current and forecast Advanced Wound Care market, upcoming innovation in the devices, individual market shares of the devices, challenges, drivers and barriers, market trends and key competitors in the Advanced Wound Care market.
Some of the essential takeaways from the Advanced Wound Care Market report:
According to DelveInsight analysis, North America is expected to dominate the overall Advanced Wound Care market during the forecast period.
Key pharma players working proactively in the Advanced Wound Care market include Smith & Nephew Plc., DermaRite Industries LLC, Mölnlycke Health Care AB, Welcare Industries SPA, ConvaTec Group, 3M Group, Mil Laboratories, Accel-Heal, Zimmer Biomet, Lohmann & Rauscher, B. Braun Melsungen Ag, Cardinal Health Inc., Hollister Incorporated, among others.
As per an estimate by DelveInsight, the Advanced Wound Care Market was valued globally at USD 9.45 billion in 2020, with a tremendous CAGR of 10.51% during the forecast period from 2021 to 2026, and finally is estimated to reach USD 16.97 billion by 2026.
The rising incidence of chronic wounds related to various chronic disorders such as diabetes, cancer, directly increases the demand for Advanced Wound Care. Increasing incidence of active wounds comprising burns, surgical wounds, increase in the ageing population, increasing awareness of proper wound care management are also a few of the predominant factors responsible for the increased need of the Advanced Wound Care market.
Integra LifeSciences, in January 2021 completed the acquisition of Acell Inc. Both of them are looking forward to continuing to advance wound care innovation.
ConvaTec Group Plc, in January 2020 announced the release of ConvaMaxTM, a super absorbent wound dressing for the management of highly exuding wounds including leg ulcers, diabetic foot ulcers, and others. Due to the launch of such new therapy systems, there will be a rapid growth observed in the Advanced Wound Care devices market.
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Advanced wound care products are used in the management of complex wounds such as trauma, burns, and other chronic wounds. Chronic and complex wounds pose a challenge to the healthcare system as they are difficult to heal and are therefore expensive to treat.
However, the advanced wound care market comprises an array of technologies such as advanced wound dressing technologies, negative pressure wound therapies (NPWT), biologics/ bioactive products and hyperbaric oxygen therapy devices.
Chronic wounds impact the quality of life and health of the patients and their families severely. Usually, they cause pain, anxiety, loss of function and mobility, shame and social isolation, as well as depression at times. Chronic wounds can even lead to financial burden, long-term hospitalization and eventually if not treated properly then death. Therefore, in order to properly treat chronic wounds, Advanced Wound Care products are heavily required, which in turn are the major factor behind driving the Advanced Wound Care market globally.
To pick on the latest highlights related to Advance Wound Care Devices get the snapshot of the key highlights entailed in the Advanced Wound Care market report.
In the Advanced Wound Care product segment, the market of the dressing segment is anticipated to hold the largest market share. The wide availability of various advanced dressings such as foam dressings, film dressings, and silver dressings, constitute and occupy the largest market share of Advanced Wound Care products with anticipated lucrative growth during the forecasted period as these are usually made of polyurethane foam making it hydrophilic. The rate of absorbency differs with their composite and thickness. However, some provide absorption capacity up to 7 days. The advantages associated with foam dressing such as moisture wound healing, non-adherent nature, and bacterial barrier are further increasing their demand.
In April 2017, Convatec released a foam dressing called Foam Lite, a light, flexible silicone foam dressing for managing low to non-exuding chronic and acute wounds. These products bolster the growth for the dressing segment of the Advanced Wound Care market during the forecasted period.
Learn more about the Advanced Wound Care Market Landscape @ Advanced Wound Care Market Analysis
The rising incidence of chronic wounds is associated with many chronic diseases like diabetes and cancer, which directly impacts the Advanced Wound Care products demand. The high demand for Advanced Wound Care also is in effect due to an increase in the ageing population, increasing awareness of proper wound care management and also increasing incidence of active wounds that constitute burns, blisters, surgical wounds, etc. These factors altogether create an urgent need for Advanced Wound Care products and devices pushing the Advanced Wound Care market growth further.
Many major market manufacturers are now focusing on developing technologically sound and Advanced Wound Care devices. In March 2020, Smith & Nephew launched PICO 14 single-use negative pressure wound therapy system (sNPWT). Another breakthrough device launched by ConvaTec Group Plc, in January 2020 is ConvaMaxTM, a super absorbent wound dressing for the management of highly exuding wounds including leg ulcers and diabetic foot ulcers. These types of newly developed Advanced Wound Care devices will be the propelling factor for Advanced Wound Care market growth and also contribute to advanced patient care management.
Some of the aspects like Advance Wound Caregiving faulty readings sometimes and non-availability of best practice guidelines for using remote Advance Wound Care give rise to minor hurdles for the Advanced Wound Care growth of the market.
Know more about which MedTech player is set to emerge as the trendsetter @ Advanced Wound Care Market Landscape Analysis
Scope of the Advanced Wound Care Market Report
Study Period: 2018-2026
Key Companies: Smith & Nephew Plc., Cardinal Health Inc., Mölnlycke Health Care AB, ConvaTec Group, Welcare Industries SPA, 3M Group, Accel-Heal, Lohmann & Rauscher, Zimmer Biomet, Hollister Incorporated, B. Braun Melsungen Ag, DermaRite Industries LLC, Mil Laboratories
Advanced Wound Care Market Segmentation
By Product Type
Negative Pressure Wound Therapy Devices
Hyperbaric Oxygen Therapy Devices
Grafts & Matrices
By Wound Type
Surgical & Traumatic Wounds
Diabetic Foot Ulcers
Rest of the World (Middle East, Africa, and South America)
Delveinsight Analysis: The Advanced Wound Care market is expected to grow at a CAGR of 10.51% and will reach USD 16.97 billion by 2026.
Table of Contents
Advanced Wound Care Market Report Introduction
Advanced Wound Care Market Executive summary
Regulatory and Patent Analysis
Advanced Wound Care Market Key factors analysis
Advanced Wound Care Porter's Five Forces Analysis
COVID-19 Impact Analysis on Advanced Wound Care Market
Advanced Wound Care Market layout
Advanced Wound Care Global Company Share Analysis – Key 3-5 Companies
Advanced Wound Care Company and Product Profiles
9.1 Smith & Nephew Plc.
9.2 Mölnlycke Health Care AB
9.3 ConvaTec Group
9.4 3M Group
9.6 Zimmer Biomet
9.7 B. Braun Melsungen Ag
9.8 Cardinal Health Inc.
9.9 DermaRite Industries LLC
9.10 Lohmann & Rauscher
9.11 Hollister Incorporated
9.12 Welcare Industries SPA
9.13 Mil Laboratories
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SOURCE DelveInsight Business Research, LLP