Global Advanced Wound Care Market to Reach US$ 14.4 Billion by 2028, Propelled by Rising Incidences of Chronic Wounds

According to the latest report by IMARC Group, titled “Advanced Wound Care Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” the global advanced wound care market size reached US$ 10.0 Billion in 2022. Advanced wound care refers to specialized treatment options designed for complex or chronic wounds that do not heal effectively with traditional care methods. These advanced solutions often involve the use of high-tech dressings like hydrocolloids, alginates, and foam dressings, as well as therapies like negative pressure wound therapy and hyperbaric oxygen therapy. Unlike conventional wound care, which mainly focuses on protecting the wound with gauze and antiseptics, advanced wound care aims to accelerate the healing process and reduce the risk of infection. The goal is to provide an optimal environment for natural healing, thus reducing the duration and cost of treatment. At present, advanced wound care finds extensive applications for treating diabetic ulcers, surgical wounds, burns, and pressure sores across the globe.

Global Advanced Wound Care Market Trends:

The rising incidence of chronic wounds, such as diabetic ulcers and pressure sores, fueled by an aging population and high prevalence rates of diabetes and obesity, represents the primary factor driving the market growth. Moreover, the increasing adoption of advanced wound care products, which offer faster healing and reduced risk of infection as healthcare providers recognize their benefits over traditional wound care methods, is positively influencing the market growth. Apart from this, numerous technological innovations, including the development of bioactive wound dressings, negative pressure wound therapy, and wound healing agents, are propelling the market growth by offering more effective treatment options. Additionally, the heightened emphasis on reducing hospital stays to minimize healthcare costs is another major growth-inducing factor, as advanced wound care products often enable quicker wound healing, allowing for earlier discharges. Furthermore, several favorable government regulations encouraging the use of quality healthcare products and increased healthcare expenditure are contributing to market growth. Looking forward, the market value is projected to reach US$ 14.4 Billion by 2028, expanding at a CAGR of 5.98% during 2023-2028.

Market Summary:

• Based on the product, the market has been divided into infection management (silver wound, non-silver, and collagen dressings), exudate management (hydrocolloids, foam, alginate, 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.
• On the basis of the application, the market has been bifurcated into chronic wounds (pressure, diabetic foot, venous leg, and arterial ulcers) and acute wounds (burns and trauma and surgical wounds).
• The market has been segmented based on the end user into hospitals and community health service centers.
• Region-wise, the market has been segregated into 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.
• The competitive landscape of the market has also been examined, with some of the key players being 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.

Report Scope:

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