Global Advanced Wound Care Market is valued at approximately USD 10.28 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 4.75% during the forecast period 2023-2030. Advanced wound care therapies are interventions utilized when conventional wound care methods prove ineffective. An extensive and expanding range of these therapies, with varying compositions and indications, has been developed. Nevertheless, their effectiveness, relative efficacy, and potential risks remain insufficiently established. The rising prevalence of chronic diseases globally fuels a growing demand for advanced wound care products. Additionally, the market demonstrates notable innovation propelled by swift technological progress in advanced wound care, primarily aiming to enhance safety, effectiveness, and usability..
The growing incidence of chronic diseases is the major driver which demands Advanced Wound Care services. According to the United Nations, Chronic diseases including cardiovascular diseases, cancer, diabetes, and respiratory illnesses are projected to contribute to 86% of the 90 million annual deaths, this signifies a 90% increase in absolute numbers compared to 2019.The growing geriatric population is expected to fuel the market growth, due to their slower healing capabilities, which heighten the demand for enhanced wound care therapies tailored to their specific needs. Furthermore, the market is additionally distinguished by a degree of Merger & Acquisition (M&A) activity among key players. This strategic approach allows companies to enhance their capabilities, broaden product portfolios, and bolster competencies. However, the Advanced Wound Care Market is facing increased regulatory scrutiny due to concerns about the effectiveness, safety, and quality of medical devices for patients. Stringent regulations not only elevate the cost of existing products , also pose barriers to entry for new ones. Moreover, the high cost of chronic wound treatments and advanced wound care products are expected to be a challenge in the forecast period 2022-2030.
The key regions considered for the Global Advanced Wound Care Market study include Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022. This dominance can be ascribed to the presence of a well-established healthcare infrastructure and a rise in the volume of surgical procedures. The increased adoption of surgical interventions, coupled with a high incidence of chronic disorders, constitutes a significant factor driving market growth. Asia Pacific is expected to grow significantly over the forecast period. This phenomenon can be attributed to the prominence of major key players, the escalating prevalence of chronic disorders, and the increasing expenditure on healthcare.
Major market player included in this report are:
- ConvaTec Group PLC
- Smith & Nephew PLC
- Molnlycke Health Care AB
- B. Braun Melsungen AG
- 3M
- Urgo Group
- Coloplast Corp.
- Integra LifeSciences Corporation
- Medline Industries, Inc.
- Arthrex, Inc.
Recent Developments in the Market:
- In January 2024, 3M Health Care's Medical Solutions Division received USD 34.2 million from the U.S. Army Medical Research Acquisition Activity to develop new solutions for infection prevention, wound management, and wound healing. The focus on treatment strategies is applicable in austere settings, especially for mass casualty and delayed evacuation situations.
- In January 2022, ConvaTec Group PLC enters the profitable wound biologics segment by acquiring Triad Life Sciences Inc. This moves bolsters Convatec's Advanced Wound Care business in the US, leveraging highly complementary product portfolios and commercial expertise. It also ensures access to innovative technology and a promising pipeline, with future growth supported by CTEC's global expertise and reach.
- In October 2023, Smith+Nephew inaugurates the Smith+Nephew Academy Munich, a center for surgical innovation and training. It serves as a central hub for surgeons from Europe, the Middle East, and Africa to learn advanced techniques using cutting-edge technology through hands-on and digital experiences.
Global Advanced Wound Care Market Report Scope:
- Historical Data - 2020 - 2021
- Base Year for Estimation - 2022
- Forecast period - 2023-2030
- Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
- Segments Covered - Product, Application, End Use, Region
- Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa
- Customization Scope - Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also provides detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Product:
- Moist
- Antimicrobial
- Active
By Application:
- Chronic Wounds
- Active Wounds
By End Use:
- Hospitals
- Specialty Clinics
- Home Healthcare
- Others
By Region:
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- RoAPAC
- Latin America
- Brazil
- Mexico
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
Table of Contents
Chapter 1.Executive Summary
- 1.1.Market Snapshot
- 1.2.Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
- 1.2.1.Advanced Wound Care Market, by Region, 2020-2030 (USD Billion)
- 1.2.2.Advanced Wound Care Market, by Product, 2020-2030 (USD Billion)
- 1.2.3.Advanced Wound Care Market, by Application, 2020-2030 (USD Billion)
- 1.2.4.Advanced Wound Care Market, by End Use, 2020-2030 (USD Billion)
- 1.3.Key Trends
- 1.4.Estimation Methodology
- 1.5.Research Assumption
Chapter 2.Global Advanced Wound Care Market Definition and Scope
- 2.1.Objective of the Study
- 2.2.Market Definition & Scope
- 2.2.1.Industry Evolution
- 2.2.2.Scope of the Study
- 2.3.Years Considered for the Study
- 2.4.Currency Conversion Rates
Chapter 3.Global Advanced Wound Care Market Dynamics
- 3.1.Advanced Wound Care Market Impact Analysis (2020-2030)
- 3.1.1.Market Drivers
- 3.1.1.1.Increasing incidence of chronic diseases
- 3.1.1.2.Supportive technological advancements
- 3.1.2.Market Challenges
- 3.1.2.1.High Cost of Advanced Wound Care therapies and products
- 3.1.2.2.Stringent regulations acting as a barrier
- 3.1.3.Market Opportunities
- 3.1.3.1.Increasing Geriatric population which demands advanced wound care treatments
- 3.1.3.2.Increasing Merger & Acquisitions among the key players
Chapter 4.Global Advanced Wound Care Market Industry Analysis
- 4.1.Porter's 5 Force Model
- 4.1.1.Bargaining Power of Suppliers
- 4.1.2.Bargaining Power of Buyers
- 4.1.3.Threat of New Entrants
- 4.1.4.Threat of Substitutes
- 4.1.5.Competitive Rivalry
- 4.2.Porter's 5 Force Impact Analysis
- 4.3.PEST Analysis
- 4.3.1.Political
- 4.3.2.Economical
- 4.3.3.Social
- 4.3.4.Technological
- 4.3.5.Environmental
- 4.3.6.Legal
- 4.4.Top investment opportunity
- 4.5.Top winning strategies
- 4.6.COVID-19 Impact Analysis
- 4.7.Disruptive Trends
- 4.8.Industry Expert Perspective
- 4.9.Analyst Recommendation & Conclusion
Chapter 5.Global Advanced Wound Care Market, by Product
- 5.1.Market Snapshot
- 5.2.Global Advanced Wound Care Market by Product, Performance - Potential Analysis
- 5.3.Global Advanced Wound Care Market Estimates & Forecasts by Product 2020-2030 (USD Billion)
- 5.4.Advanced Wound Care Market, Sub Segment Analysis
- 5.4.1.Moist
- 5.4.2.Antimicrobial
- 5.4.3.Active
Chapter 6.Global Advanced Wound Care Market, by Application
- 6.1.Market Snapshot
- 6.2.Global Advanced Wound Care Market by Application, Performance - Potential Analysis
- 6.3.Global Advanced Wound Care Market Estimates & Forecasts by Application 2020-2030 (USD Billion)
- 6.4.Advanced Wound Care Market, Sub Segment Analysis
- 6.4.1.Chronic Wounds
- 6.4.2.Active Wounds
Chapter 7.Global Advanced Wound Care Market, by End Use
- 7.1.Market Snapshot
- 7.2.Global Advanced Wound Care Market by End Use, Performance - Potential Analysis
- 7.3.Global Advanced Wound Care Market Estimates & Forecasts by End Use 2020-2030 (USD Billion)
- 7.4.Advanced Wound Care Market, Sub Segment Analysis
- 7.4.1.Hospitals
- 7.4.2.Specialty Clinics
- 7.4.3.Home Healthcare
- 7.4.4.Others
Chapter 8.Global Advanced Wound Care Market, Regional Analysis
- 8.1.Top Leading Countries
- 8.2.Top Emerging Countries
- 8.3.Advanced Wound Care Market, Regional Market Snapshot
- 8.4.North America Advanced Wound Care Market
- 8.4.1.U.S. Advanced Wound Care Market
- 8.4.1.1.Product breakdown estimates & forecasts, 2020-2030
- 8.4.1.2.Application breakdown estimates & forecasts, 2020-2030
- 8.4.1.3.End Use breakdown estimates & forecasts, 2020-2030
- 8.4.2.Canada Advanced Wound Care Market
- 8.5.Europe Advanced Wound Care Market Snapshot
- 8.5.1.U.K. Advanced Wound Care Market
- 8.5.2.Germany Advanced Wound Care Market
- 8.5.3.France Advanced Wound Care Market
- 8.5.4.Spain Advanced Wound Care Market
- 8.5.5.Italy Advanced Wound Care Market
- 8.5.6.Rest of Europe Advanced Wound Care Market
- 8.6.Asia-Pacific Advanced Wound Care Market Snapshot
- 8.6.1.China Advanced Wound Care Market
- 8.6.2.India Advanced Wound Care Market
- 8.6.3.Japan Advanced Wound Care Market
- 8.6.4.Australia Advanced Wound Care Market
- 8.6.5.South Korea Advanced Wound Care Market
- 8.6.6.Rest of Asia Pacific Advanced Wound Care Market
- 8.7.Latin America Advanced Wound Care Market Snapshot
- 8.7.1.Brazil Advanced Wound Care Market
- 8.7.2.Mexico Advanced Wound Care Market
- 8.8.Middle East & Africa Advanced Wound Care Market
- 8.8.1.Saudi Arabia Advanced Wound Care Market
- 8.8.2.South Africa Advanced Wound Care Market
- 8.8.3.Rest of Middle East & Africa Advanced Wound Care Market
Chapter 9.Competitive Intelligence
- 9.1.Key Company SWOT Analysis
- 9.2.Top Market Strategies
- 9.3.Company Profiles
- 9.3.1. ConvaTec Group PLC
- 9.3.1.1.Key Information
- 9.3.1.2.Overview
- 9.3.1.3.Financial (Subject to Data Availability)
- 9.3.1.4.Product Summary
- 9.3.1.5.Recent Developments
- 9.3.2.Smith & Nephew PLC
- 9.3.3.Molnlycke Health Care AB
- 9.3.4.B. Braun Melsungen AG
- 9.3.5.3M
- 9.3.6.Urgo Group
- 9.3.7.Coloplast Corp.
- 9.3.8.Integra LifeSciences Corporation
- 9.3.9.Medline Industries, Inc.
- 9.3.10.Arthrex, Inc.
Chapter 10.Research Process
- 10.1.Research Process
- 10.1.1.Data Mining
- 10.1.2.Analysis
- 10.1.3.Market Estimation
- 10.1.4.Validation
- 10.1.5.Publishing
- 10.2.Research Attributes
- 10.3.Research Assumption