Advanced Wound Care Market

Global Advanced Wound Care Market:

The global advanced wound care market size reached US$ 10.6 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 17.0 Billion by 2032, exhibiting a growth rate (CAGR) of 5.27% during 2024-2032. Various factors including rising incidence of chronic wounds, ongoing technological advancements, and increasing surgical procedures are propelling the market. In addition, the growing number of complex surgeries like orthopedic, cardiovascular, and neurological surgeries, is also driving the market growth.

Advanced Wound Care Market Analysis:

• Major Market Drivers: The growth of the market is driven by the surging prevalence of pressure ulcers, diabetic foot ulcers, and other chronic wounds. Advances in wound care technologies have led to the development of innovative products that promote faster healing, reduce infection rates, and enhance patient comfort, which are further acting as another growth-inducing factor.
• Key Market Trends: Increased adoption of bioactive and antimicrobial dressings, rise in regenerative medicine, focus on patient comfort and quality of life, and adoption of personalized wound care are proliferating the market growth. In addition, there's an increasing focus on developing wound care products that are environmentally sustainable and biodegradable, which is positively impacting the advanced wound care market share.
• Geographical Landscape: According to the report, North America accounted for the largest market share. The region has a rapidly aging population, leading to a higher prevalence of chronic conditions such as diabetes, cardiovascular diseases, and obesity. Elderly individuals are more prone to chronic wounds, such as diabetic foot ulcers and venous leg ulcers, which require advanced wound care products for effective disease management.
• Competitive Landscape: Some of the leading advanced wound care market companies are 3M Company, B. Braun SE (B. Braun Holding GmbH & Co. KG), Cardinal Health, Inc., Coloplast A/S, Convatec Group plc, Essity AB, Integra LifeSciences, Medline Industries, LP, Medtronic plc, Mölnlycke Health Care (Investor AB), Organogenesis Holdings Inc., and Smith & Nephew plc., among many others.
• Challenges and Opportunities: Increasing regulatory hurdles, cost and reimbursement issues, and infection concerns in wound care are some of the challenges that the market is facing. However, innovations in material science, nanotechnology, and bioengineering offer opportunities to develop more effective and efficient wound care products with enhanced healing properties.
   

Advanced Wound Care Market Trends:

Increasing Number of Surgical Procedures

As surgical treatment becomes affordable across the globe, more surgeries are expected to be performed. For instance, in February 2024, Upfront Healthcare, the health tech provider announced the successful deployment of an orthopedic join care platform for Riverside Doctors' Hospital Williamsburg (RDHW), a state-of-the-art Riverside Health System (RHS) hospital in Williamsburg, VA. It helps patients to stay on track with the right information before, during, and after total hip replacements (THR) and total knee replacements (TKR). Upfront's omnichannel outreach actively guides patients with the appropriate information on the appropriate channel, greatly lowering the labor costs related to patient education and improving the order of care. This is further driving the advanced wound care market demand. Despite advancements in surgical techniques, postoperative complications such as surgical site infections (SSIs), dehiscence (wound opening), and delayed wound healing remain significant concerns. For instance, according to the report published by the National Library of Medicine in 2023, approximately 2% of surgical procedures result in significant surgical complications (SSIs), which make up to 20% of infections related to healthcare. SSIs are the third most prevalent nosocomial infection after respiratory and urinary tract infections, according to numerous research. According to recent studies, the worldwide SSI rate varies between 19.4% and 36.5%, whereas in India, it varies between 3% and 12%. These complications increase the demand for advanced wound care products to manage and prevent them.

Technological Advancement

Technological innovations have led to the development of advanced wound dressings with enhanced properties such as moisture control, antimicrobial activity, and bioactivity. These dressings create an optimal environment for wound healing, reduce the risk of infection, and accelerate the healing process. For instance, in June 2023, researchers from the National University of Singapore and A*STAR's Institute of Materials Research and Engineering developed an AI-powered sensor patch to monitor wound recovery. The patch, called PETAL (Paper-like Battery-free in situ AI-enabled Multiplexed), consists of five colorimetric sensors arranged in a fluidic panel with a design inspired by a pinwheel flower with five petals. Moreover, NPWT systems have evolved significantly, becoming more portable, user-friendly, and effective. Advanced NPWT devices offer features like variable pressure settings, intelligent alarms, and integrated dressings, making them versatile tools for managing complex wounds, including surgical wounds, traumatic injuries, and chronic ulcers. Smart wound care devices equipped with sensors and connectivity capabilities are revolutionizing wound management. For instance, ExtriCARE USA, a pioneer in innovative wound care solutions, introduced the ExtriCARE 1000 Negative Pressure Wound Therapy (NPWT) System. This innovative device usher in a new age for NPWT, combining lightweight design with robust capabilities to fulfill the different needs of both patients and healthcare practitioners. These factors are further bolstering the advanced wound market revenue. 

Innovative Imaging Techniques

Advanced imaging technologies such as ultrasound, magnetic resonance imaging (MRI), and optical coherence tomography (OCT) provide detailed and accurate assessments of wound characteristics. They allow healthcare providers to visualize wound depth, size, tissue perfusion, and presence of underlying structures, aiding in precise diagnosis and treatment planning. For instance, in November 2023, Hackensack Meridian JFK University Medical Center announced that its radiology services would include a new advanced magnetic resonance imaging (MRI) technology that provides a high field 3 Tesla MRI machine with cutting-edge software and patient comfort, enhancing the patient's experience. In addition, continuous monitoring of wound healing progress is essential for evaluating treatment efficacy and adjusting interventions as needed. Advanced imaging modalities provide objective measurements of wound healing parameters over time, enabling healthcare providers to track progress and make informed decisions. For instance, in May 2023, Spectral MD Holdings, Ltd., an artificial intelligence (AI) company focused on medical diagnostics for faster and more accurate treatment decisions in wound care, made progress in developing and commercializing its AI-enabled DeepView burn imaging platform. The DeepView AI-enabled platform tackles a current gap in wound healing evaluation protocols, namely a lack of diagnostic tools and reliance on clinician experience. DeepView allows clinicians to observe a burn site from the inside out, rather than the other way around. The DeepView technology allows healthcare personnel to see what the naked eye cannot, resulting in a quick and accurate assessment of a wound's severity and informing future steps in treatment. These factors are further propelling the market demand.

Advanced Wound Care Industry Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global advanced wound care market report, along with forecasts at the global, regional and country levels from 2024-2032. Our advanced wound care market report has categorized the market based on product, application and end user.

Breakup by Product:

• Infection Management
  • Silver Wound Dressings
  • Non-silver Dressings
  • Collagen Dressings
• Exudate Management
  • Hydrocolloids Dressings
  • Foam Dressings
  • Alginate Dressings
  • Hydrogel Dressings
• Active Wound Care
  • Skin Substitutes
  • Growth Factors
• Therapy Devices
  • Negative Pressure Wound Therapy (NPWT)
  • Oxygen and Hyperbaric Oxygen Equipment
  • Electromagnetic Therapy Devices
• Others
   

The report has provided a detailed breakup and analysis of the market based on the product. This includes infection management (silver wound dressings, non-silver dressings, and collagen dressings), exudate management (hydrocolloids dressings, foam dressings, alginate dressings, and hydrogel dressings), active wound care (skin substitutes, and growth factors), therapy devices (negative pressure wound therapy (NPWT), oxygen and hyperbaric oxygen equipment, and electromagnetic therapy devices), and others.

As per the advanced wound care market overview, infection management products are crucial in wound care to prevent and treat infections, driving their demand in the market. While exudate management is crucial for promoting wound healing and preventing maceration and infection. Moreover, active wound care products focus on stimulating the body's natural healing processes and promoting tissue regeneration. Furthermore, therapy devices are essential for managing complex and chronic wounds by promoting tissue repair and reducing healing time.

Breakup by Application:

• Chronic Wounds
  • Pressure Ulcers
  • Diabetic Foot Ulcers
  • Venous Leg Ulcers
  • Arterial Ulcers
• Acute Wounds
  • Burns and Trauma
  • Surgical Wounds
     

Chronic wounds hold the largest share in the market

A detailed breakup and analysis of the market based on the application has also been provided in the report. This includes chronic wounds (pressure ulcers, diabetic foot ulcers, venous leg ulcers, and arterial ulcers), and acute wounds (burns and trauma, and surgical wounds). According to the report, chronic wounds accounted for the largest market share.

Chronic wounds often harbor biofilms, which are communities of bacteria encased in a protective matrix. Advanced wound care includes methods to disrupt biofilms, such as enzymatic debridement and antimicrobial dressings. In addition, advanced wound dressings containing anti-inflammatory agents like corticosteroids or non-steroidal anti-inflammatory drugs (NSAIDs) help in reducing inflammation and promoting healing. These factors are further positively impacting the advanced wound care market forecast. For instance, in October 2023, a team of researchers from the National University of Singapore (NUS) developed an innovative magnetic gel to accelerate the healing of diabetic wounds.

Breakup by End User:

• Hospitals
• Community Health Service Centers
   

Currently, hospitals exhibit a clear dominance in the market

The report has provided a detailed breakup and analysis of the market based on the end user. This includes hospitals, and community health service centers. According to the report, hospitals represented the largest segment.

As the global population ages, the prevalence of chronic conditions such as diabetes, peripheral vascular disease, and pressure ulcers increases. These conditions often lead to chronic wounds that require advanced wound care interventions and hospital assistance. In addition, surgical wounds, including complex or high-risk surgeries, require specialized wound care to prevent complications and promote healing. The growing number of surgical procedures performed globally contributes to the demand for advanced wound care products and services. These factors are further proliferating the demand for advanced wound care in hospitals. 

Breakup by Region:

• North America
  • United States
  • Canada
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

North America currently dominates the global market

The market research report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America accounted for the largest market share.

According to the advanced wound care market outlook, chronic conditions such as diabetes, obesity, and cardiovascular diseases are on the rise in North America. These conditions often lead to complications like diabetic foot ulcers, pressure ulcers, and venous leg ulcers, driving the demand for wound care products and services. In addition, continuous advancements in wound care technologies lead to the development of innovative products and therapies. Advanced wound dressings, negative pressure wound therapy systems, and bioactive wound care products provide more effective and efficient wound management solutions, fostering the market growth.

Competitive Landscape:

The market research report has provided a comprehensive analysis of the competitive landscape in the market. Detailed profiles of all major companies have also been provided. Some of the key players in the market include:

• 3M Company
• B. Braun SE (B. Braun Holding GmbH & Co. KG)
• Cardinal Health, Inc.
• Coloplast A/S
• Convatec Group plc
• Essity AB
• Integra LifeSciences
• Medline Industries, LP
• Medtronic plc
• Mölnlycke Health Care (Investor AB)
• Organogenesis Holdings Inc.
• Smith & Nephew plc.
   

(Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.)

Advanced Wound Care Market Recent Developments

• April 2024: Restore First Health expanded its access to advanced wound care in Florida, Colorada and Kansas, creating opportunities for more patients across the country to heal from chronic wounds.
• February 2024: Researchers from MIT introduced a 3D-printable tissue adhesive that demonstrates superior tissue adhesion. This technology holds immense potential for enhancing biomedical devices and wound care applications.
• June 2023: The Central Drugs Standard Control Organisation (CDSCO) approved Cholederm, an advanced wound care product which is developed by Shree Chitra Tirunal Institute for Medical Sciences and Technology.

Advanced Wound Care Market Report Scope:

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the advanced wound care market from 2018-2032.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global advanced wound care market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the advanced wound care industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.