Advanced wound care products are used for wound healing process. These products are primarily used by healthcare physicians owing to its excellent end-use applications. Many modern dressings are self-adhesive. Advanced wound care products are currently used by various healthcare physicians, owing to its excellent end-use applications. Advanced wound care products offers unique therapeutic properties for encouraging effective wound healing process. North America dominates the global advanced wound care market and is expected to maintain its dominancy over the forecast period owing to growing incidence of diabetes and associated chronic wounds in the region. The market in Asia Pacific is expected to show significant growth rates in global advanced wound care market.
The report "Advanced Wound Care Market By Product type (Moist Wound Dressings (Foam Dressing, Hydrocolloid Dressing, Film Dressing, Alginate Dressings, Hydrogel Dressings, and Collagen Dressing), Wound Therapy Devices, (Pressure relief devices, negative pressure wound therapy systems, hyperbaric oxygen equipment, and electrical stimulation devices) and Active Wound Care (Artificial skin and substitutes and topical agents), By Wound Type (Ulcers (Pressure ulcers, diabetic foot ulcers, and venous ulcers), Surgical Wounds, Burns, Traumatic Wounds, and Other Wounds), By End-User (Hospitals and Clinics, Home Care Settings, and Other End Users) and By Region (North America, Latin America, Europe, Middle East, Asia Pacific, and Africa) - Trends, Analysis and Forecast till 2030”
Key Highlights:
In 2019, Smith & Nephew, Plc., the global medical technology business has announced completion of the acquisition of Osiris Therapeutics, Inc.In March 2020, Smith and Nephew Plc. (UK) launched PICO 14 Single- use NPWT device and dressings in US.
Analyst View:
Increasing prevalence of acute and chronic diseases across the globe is major factor driving growth of the global advanced wound care market. For instance, according to data published by National Center for Biotechnology Information (NCBI), the prevalence of diabetes is anticipated to double globally from 171 Mn in 2000 to 366 Mn in 2030. Further, National Center for Biotechnology Information is predicted that by 2030 diabetes mellitus may afflict up to 79.4 Mn individuals in India, while China (42.3 Mn) and the United States (30.3 Mn). Rising new product launch, robust pipeline of drugs, and approval supports from regulatory bodies are factors fueling growth of the global advanced wound care market Moreover, increasing geriatric population with its associated complications across the globe is expected to create demand for wound care products over the forecast period.
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Key Market Insights from the report:
Global Advanced Wound Care Market accounted for US$ 10.5 billion in 2020 and is estimated to be US$ 24.5 billion by 2030 and is anticipated to register a CAGR of 8.9%. The global advanced wound care market has been segmented on the basis of product, wound type, end-user, and region.
On the basis of product type, the Global Advanced Wound Care Market is segmented into Moist Wound Dressings (Foam Dressing, Hydrocolloid Dressing, Film Dressing, Alginate Dressings, Hydrogel Dressings, and Collagen Dressing), Wound Therapy Devices, (Pressure relief devices, negative pressure wound therapy systems, hyperbaric oxygen equipment, and electrical stimulation devices) and Active Wound Care (Artificial skin and substitutes and topical agents).On the basis of wound type, the target market is segmented into Ulcers (Pressure ulcers, diabetic foot ulcers, and venous ulcers), Surgical Wounds, Burns, Traumatic Wounds, and Other Wounds.On the basis of end-user, the target market divided into Hospitals and Clinics, Home Care Settings, and Other End UsersBased on region the global orphan drugs market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America market dominates the global market in terms of revenue over the forecast period. This can be attributed to the high rate of adoption of the advanced technologies in the market studied.Competitive Landscape:
The Key players operating in the global advanced wound care market includes Smith and Nephew, Mölnlycke Health Care, B. Braun, ConvaTec Group, Coloplast, Integra LifeSciences, 3M Company, Cardinal Health, Acelity L.P., Medtronic.
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