According to a research report by the Transparency Market Research, the global advanced wound care management market was evaluated at US$ 8,531 million in the year of 2017 and the industry is set to grow at a steady CAGR of 5.8 % during the forecast period of 2018 to 2026. The research authors at Transparency Market Research project that the global advanced wound care management market will expand to reach the evaluation of US$ 14.05 billion by the end of the forecast period i.e. 2026. Key reasons behind this upward trajectory are increasing prevalence of chronic wounds, rising patient awareness, increasing need for treating complex wounds, technological advancements in healthcare and medical industries, and increase in the healthcare expenditure.
Segments in the global advanced wound care management market based on the type of the product include moist wound dressings (including foam dressings, hydrogel dressings, collagen dressings, hydrocolloid dressings, and alginate dressings, among others), antimicrobial dressings (including non-silver dressings and silver dressings), active wound care (including artificial skin substitutes, growth factors, and autografts), and therapy devices (including oxygen and hyperbaric oxygen equipment, electromagnetic therapy devices, negative pressure wound therapy, and pressure relief devices, among others). Increasing requirement for treatment of skin related disorders such as vascular ulcers, skin disorders, and deep vein thrombosis are driving the demand in the skin substitutes segment in the global advanced wound care management market in coming years.
Rising Incidence of Diabetes Creates Increased Demand in the Advanced Wound Care Management Market
Segments in the global advanced wound care management market by the wound type include acute wound (including surgical and traumatic wounds as well as burns), chronic wound (including infectious wounds as well as other ischemic wounds), and ulcers (including diabetic foot ulcers, pressure ulcers, and arterial and venous ulcers, among others). Rising incidence of diabetic ulcers owing to rising instances of maturity onset and type 1 diabetes in various developed economies is fueling the demand in the global advanced wound care management market. Key end users for the products in the global advanced wound care management market include hospitals, ambulatory surgical centers or ASCs, clinics, and home health care, among others. Increasing prevalence of chronic wound cases in intensive care units as well as other in-patient settings is expected to fuel the demand from hospitals and clinics segments in the global advanced wound care management market.
North America Leads the Advanced Wound Care Management Market
Major regions assessed in the market analysis on the global advanced wound care management market include Europe (including the United Kingdom, Italy, Germany, France, Spain, and rest of the Europe), Latin America (including Mexico, Brazil, and rest of the Latin America), North America (including the United States and Canada), Middle East and Africa (including South Africa, Gulf Cooperation Council countries, and rest of the Middle East and Africa), and Asia Pacific (including India, Australia and New Zealand, China, Japan, and rest of the Asia Pacific). North America dominated the global advanced wound care management market in 2017 owing to rising awareness among healthcare practitioners and highly developed regional healthcare infrastructure. Moreover, Europe is another region anticipated to provide lucrative growth opportunities in the global advanced wound care management market in coming years. Key factors fueling demand in the Europe global advanced wound care management market include increase in government issued laws as well as governmental initiatives pertaining to adoption of solutions from players in advanced wound care industry as well as expansion f the health care sector in emerging economies in the region.
Major and leading players evaluated in the research report on the global advanced wound care management market include Acelity L.P., Inc., ConvaTec Inc., Coloplast A/S. Integra Life Sciences Corporation, Paul Hartmann AG, Hollister Incorporated, Medline Industries, Inc., Smith & Nephew PLC, Molnlycke Health Care AB, B. Braun Melsungen AG, 3M Healthcare, Cardinal Health, BSN Medical, and Organogenesis, Inc.
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