Increase in the geriatric population, rise in incidences of diabetes, obesity, and chronic conditions, and developments in technology to deal with complex wounds have boosted the growth of the global advanced wound care market.
The global advanced wound care market size was valued at $8,978.0 million in 2020, and is projected to reach $14,190.5 million by 2030, registering a CAGR of 4.6% from 2021 to 2030.
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Surge in geriatric population, increase in incidences of diabetes, obesity and chronic conditions, and high-end technological advancements to deal with complex wounds fuel the growth of the global advanced wound care market. On the other hand, high cost of advanced wound care products impedes the growth to some extent. Nevertheless, untapped opportunities in developing economies is expected to create a number of opportunities for the key players in the industry.
Impact of Covid-19 on Advanced Wound Care Market-
The COVID-19 outbreak is anticipated to have a negative impact on Advanced Wound Care Market. Due to nationwide lockdowns, denied wound care services, cancelled or postponed elective surgeries, and increasing skin injuries in COVID-19 medical care providers, the advanced wound care market is expected to register a certain decline during the forecast period.
- The Covid-19 pandemic negatively affected the market due to countrywide lockdown and canceled or postponed elective surgeries. Moreover, the prolonged lockdown disrupted the supply chain and increased the prices of medical equipment and raw materials.
- However, the increase in skin injuries in medical care providers is expected to boost the demand for advanced wound care.
Get detailed COVID-19 impact analysis on the Advanced Wound Care Market-
Comprehensive competitive analysis and profiles of major market players, such as
- Adynxx, Inc.
- 3M (Acelity Inc.)
- Smith & Nephew Plc.
- Coloplast A/S
- ConvaTec Group Plc.
- AB (Mölnlycke Health Care AB)
- Essity AB (BSN Medical GmbH)
- Medtronic Plc.
- Integra Lifesciences (Derma sciences)
- Investor Johnson & Johnson
- Medline Industries, Inc.
- B Braun Melsungen AG
- Organogenesis Holdings Inc.
Key Findings Of The Study
- By product, the therapy devices segment held 35.22% share in the global advanced wound care market in 2020.
- By application, the chronic wounds segment accounted for the largest advanced wound care market share in 2020, and is expected to remain dominant throughout the forecast period.
- By end user, the hospitals segment held 57% share in the global advanced wound care market in 2020.
- By region, Asia-Pacific is expected to exhibit highest CAGR of 5.7% during the forecast period.
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