The Global Advanced Wound Care Market was valued at USD 6.42 billion in 2020 and is projected to expand at a CAGR of 5.2% during the forecast period, 2021–2028. The growth of the market is attributed to the rising number of accidents such as burns, trauma events, road accidents, and others.
The advanced wound cares are designed to cure complex and severe injuries caused by traumatic accidents. These care products includes alginates, hydrocolloids, hydrogels, and film & foam dressings. The advanced wound care treatments work on the principle of moisture therapy, which delivers adequate moisture to the wound that allow natural cell to repair itself and the wound area to respire at the same time. These therapies of advanced wound care are widely used as the interventions when standard wound care has failed to cure the injuries.
Market Drivers, Restraints, Trends, and Opportunities
- Growing usage of advanced wound care products for eliminating additional fluids from the wounds and protecting them from infection are likely to drive the market growth.
- Increasing number of road accidents and traumatic events are predicted to boost the for advanced wound care, which is projected to fuel the market growth.
- Rising number of ambulances with all surgical facilities, and demand for reducing the stays in hospitals are estimated to boost the market growth.
- Major usage of advanced wound cares during the treatment of acute injuries such as sprained ankles, fractured hands, strained backs, and others are expected to push the growth of market.
- Expensive surgeries, time consuming therapies, and others may hinder the market growth during the analysis period.
- Ongoing research and development by the key players of market are presenting numerous opportunities for the expansion of the advanced wound care market.
Global Advanced Wound Care Market Segment Insights
In terms of products, the market is divided into active wound care, moist wound care, and antimicrobial wound care. The antimicrobial wound care segment is predicted to witness a robust growth rate during the forecast period due to their increasing usage of the product type to cure the wounds. Percutaneous line sites and surgical marks are the two majorly indicated antimicrobial wound treatment for partial and full-thickness injuries. These products are generally available as film care, impregnated woven gauzes, nylon fabric, island care, and a combination of others. In 2020, the moist wound care segment dominated the advanced wound care market and represented 59.2% of the market revenue share. The most wound care is widely adopted for the treatment of chronic injuries such as diabetic ulcers and pressure ulcers.
Based on applications, the global advanced wound care market is bifurcated into acute wounds and chronic wounds. In 2020, the acute wounds segment constituted a major share of the advanced wound care market by representing 60% of the total revenue share. As per WHO, around 180,000 deaths are caused by burn injury every year and most of these cases are mainly happened in low and middle-income countries. On the other hand, the chronic wounds segment is projected to constitute a significant growth rate during the analysis period due to the increasing cases of chronic diseases such as diabetes and growing geriatric population.
On the basis of end-users, the market is segmented into home healthcare, hospitals, and specialty clinics. The home healthcare segment is predicted to account for a large market share during the analysis period due to the condition of prolonged recovery period of chronic injuries and hospital stay. This is a key reason for patients’ preference for homecare over hospital stay. In 2020, the hospital segment dominated the advanced wound care market by representing 45.2% of the overall revenue share due to the prevailing facility of advanced treatment products in hospital.
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