ADVANCED WOUND CARE MANAGEMENT MARKET ANALYSIS

Market Size and Trends

Global advanced wound care management market is estimated to be valued at USD 11.72 Bn in 2024 and is expected to reach USD 16.58 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 5.1% from 2024 to 2031.

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Global advanced wound care management market is expected to witness significant growth over the forecast period. Key factors such as increasing prevalence of chronic wounds worldwide due to rising geriatric population, growing incidence of diabetes and associated complications are expected to boost demand for advanced wound care products. Furthermore, technological advancements in wound care products along with rising medical expenditures is also anticipated to propel the market growth. However, high costs associated with advanced wound therapies can hamper the market growth during the forecast period.

Increasing research and development in wound care management

Increasing research and development activities by market players and research institutes for the development of wound care products is expected to drive the growth of global advanced wound care management market over the forecast period. For instance, in May 2023, University of Nottingham, England, U.K., announced that the researchers had received a US$ 1,145.6 BN (£902,524) grant from the Medical Research Council to develop a smart wound dressing embedded with optical fibre sensors to assess whether affected tissue is healing or infected, which is being trialed at University Hospitals of Derby and Burton NHS Foundation Trust. Moreover, in November 2022, researchers at Indiana University School of Medicine announced that these people are looking for ways to heal wounds by using a healing protein that is active in fetuses, but largely inactive in adults and absent in diabetic adults. In the study, published by Molecular Therapy, the team focused on a protein called nonselenocysteine-containing phospholipid hydroperoxide glutathione peroxidase, or NPGPx. NPGPx is active in fetal tissue but becomes mostly inactive in the skin after birth.

Market Concentration and Competitive Landscape

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Market players are focused on growth strategies such as product launches, and this is expected to boost the growth of global advanced wound care management market. For instance, in March 2023, Bactiguard AB, a medical device company, announced the launch of its wound care offering in the U.K. and Ireland, in collaboration with Quintess Medical, a product distributor, and , GS Medical, its partner, full-service medical sales and distribution firm. The collaboration will not only bring Bactiguard’s Wound Care product range to even more patients and end users, but also further strengthen Bactiguard’s position in the advanced wound care management market. In January 2023, Convatec, a global medical products and technologies company, announced the U.S. launch of ConvaFoam, a family of advanced foam dressings designed to address the needs of healthcare providers and their patients. ConvaFoam can be used on a spectrum of wound types at any stage of the wound journey, making it the simple dressing choice for wound management and skin protection.

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Increasing number of products recalls due to product failure, component inconsistency, and packaging problems is expected to hamper the growth of the global advanced wound care management market. For instance, in March 2022, BlaineLabs, a drug and medical device manufacturing company, announced that it had recalled a single lot of RevitaDerm Wound Care Gel (benzalkonium chloride gel containing transforming growth factor beta).

Market Opportunities – Emerging solutions for advanced wound care management

The development of new solutions for the management of burns and wounds is expected to hold huge potential for growth of global advanced wound care management market over the forecast period. For instance, in October 2021, Solascure Limited, a U.K.-based biotechnology company that focuses on the development of advanced wound care products, announced that it had initiated clinical trials for Aurase Wound Gel, its investigational wound cleaning product.

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Product type segment is sub-segmented into moist wound dressings, wound therapy devices and active wound care. Moist wound dressings segment is estimated to hold 50.7% share of the market in 2024. Moist wound dressings absorb excess exudate from wounds while maintaining a moist environment which prevents wounds from drying out and cracking. This moist wound environment promotes angiogenesis and re-epithelialization which are critical steps in wound healing. Moist wound dressings also relieve pain by keeping wounds moist which allows for fewer dressing changes. Increasing advancements in the product by key market players is expected to boost the segment growth over the forecast period. For instance, in June 2022, Medline Industries, LP, a healthcare company, announced a new version of its Optifoam Gentle EX Foam Dressing. The company has updated the product to help prevent pressure injuries and demonstrated the product at booth #511 at the WOCNext 2022 conference in Texas, U.S., in June 2022

Insights, By Type: Effective absorbent properties drives absorbent segment growth

Type segment is sub-segmented into non – absorbent and absorbent. Absorbent segment is expected to hold 87.2% of the market share in 2024. Absorbent dressings are highly effective at wicking away excess exudate from wounds to prevent maceration of surrounding healthy tissue. Their absorbent properties help to establish a moist wound environment ideal for healing while protecting peri-wound skin. Various cellulose and superabsorbent polymer-based materials provide these dressings high absorptive capacities without requiring frequent changes. This absorbency allows for a comfortable healing experience, reducing pain and risk of infection from frequent dressing changes. Market players such as DermaRite Industries, LLC, Integra LifeSciences, Mckesson Corporation, and other market players offers absorbent dressings, and this is expected to drive the segment growth over the forecast period.

Insights, By Wound Type: Rising geriatric population drives growth of ulcers segment

Wound type segment is sub-segmented into surgical wounds, ulcers, traumatic wounds, burns, and others. Ulcers segment is expected to hold 47.3% of the market share in 2024. Chronic wounds like venous leg ulcers and diabetic foot ulcers often require long term and repeated application of advanced wound dressings and therapies. Their chronic nature means ulcers have frequent dressing changes and treatments as part of an ongoing care regimen. This sustained treatment demand from chronic ulcer cases is a major driver of the market share for this segment compared to more acute wound types. Increasing geriatric population who are more susceptible to chronic wounds due to chronic diseases such as diabetes is expected to drive the segment growth. For instance, in 2022, according to the National Diabetes Statistics Report, 1.4 million new cases in North America of diabetes were diagnosed in people aged 18 and above in 2019.

Regional Insights

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North America is the  dominant region in the global advanced wound care management market and is anticipated to hold 41.3% of the market share in 2024. The presence of major industry players and their strong distribution networks across the region have made North America the innovation hub for new and improved wound care solutions. Players located in North America invest significantly in R&D activities, driving the development and introduction of novel and technologically advanced products in this market. Moreover, increasing launches of negative pressure wound therapy (NPWT) devices by key market players is expected drive the market growth during the forecast period. For instance, in March 2020, Smith & Nephew, a multinational medical equipment manufacturing company, launched a new PICO 14 single-use negative pressure wound therapy system (sNPWT) in the U.S. This system is designed for use in hospital especially for the patient with surgical wounds.

Asia Pacific has emerged as the fastest growing regional market for advanced wound care management due  to expanding medical capabilities and a rapidly developing private healthcare sector across developing nations. Countries like India, China, Singapore and South Korea are witnessing massive investments in building healthcare capacities to meet the needs of their growing populations. Rising medical tourism and foreign collaborations have raised clinical standards in these markets. Asia Pacific houses nearly two-thirds of the global diabetic population, presenting a huge patient base for wound care products. Joint ventures between local manufacturers and international players are enabling technology transfers and skills development. This is helping domestic firms increase their competitiveness. With rising disposable incomes, favorable policy support and growing medical requirements, the Asia Pacific region is expected to witness continued strong growth in the advanced wound care management industry in the near future.

Market Report Scope

Key Developments

• In May 2023, Smith+Nephew, a global medical technology company, announced that its PICO Single Use Negative Pressure Wound Therapy Systems had received an Innovative Technology contract from Vizient, Inc., a health care performance improvement company. The contract was awarded based on the recommendation of the PICO Single Use Negative Pressure Wound Therapy Systems by hospital experts who serve on one of Vizient's member-led councils.
• In April 2023, 3M, a multinational conglomerate company, announced that it had received approval from U.S. Food and Drug Administration for 3M Veraflo Therapy, with both 3M Veraflo Cleanse Choice Complete Dressing and 3M V.A.C. Veraflo is a hydromechanical removal of infectious materials, non-viable tissue and wound debris which reduces the number of surgical debridements required, while promoting granulation tissue formation, creating an environment that promotes wound healing.
• In April 2023, InfuSystem Holdings, Inc., a leading national healthcare service provider, announced a national distribution agreement with Genadyne Biotechnologies Inc., developer and manufacturer of negative pressure wound therapy systems for its negative pressure wound therapy (“NPWT”) systems and supplies. InfuSystem will offer Genadyne’s complete line of wound care products, including its most advanced XLR8 Plus NPWT Pump, which delivers advanced variable pressure capabilities with a gradual wave, in conjunction with Genadyne’s proprietary XLR8 Dressing Kit with Silver, an antimicrobial contact layer to protect the wound.
• In October 2022, HARTMANN USA, a leading manufacturer of high-performance products in the areas of advanced and traditional wound management, and Corstrata, a healthcare IT Company, announced their collaboration to support home health and other in-home providers in caring for wound patients. This collaboration will increase access to Corstrata’s team of virtual board-certified wound nurses (WOC nurses) and HARTMANN’s suite of advanced wound care products to improve clinical and financial outcomes for in-home providers that care for patients with chronic wounds.

*Definition: Advanced Wound Care Management Market involves products that aid in treating chronic and hard-to-heal wounds. This includes moisture therapy dressings, wound cleansers, debriding agents, antimicrobial dressings, wound assessment products, growth factors, and negative pressure wound therapy devices. As the aging population grows globally, the incidences of diabetes and other conditions that delay wound healing are increasing.

Market Segmentation

•  Product Type Insights (Revenue, USD BN, 2019 - 2031)
  • Moist Wound Dressings
    • Foam Dressings
    • Hydrocolloid Dressings
    • Film Dressings
    • Alginate Dressings
    • Hydrogel Dressings
    • Collagen Dressings
    • Antibacterial Dressings
    • Antimicrobial Dressings
    • Others
  • Wound Therapy Devices
    • Pressure Relief Devices
    • Negative Pressure Wound Therapy Systems
    • Hyperbaric Oxygen Equipment
    • Electrical Stimulation Devices
  • Active Wound Care
    • Artificial Skin and Substitutes
    • Topical Agent
•  Type Insights (Revenue, USD BN, 2019 - 2031)
  • Non- absorbent
  • Absorbent
•  Wound Type Insights (Revenue, USD BN, 2019 - 2031)
  • Surgical Wounds
  • Ulcers
    • Pressure Ulcers
    • Diabetic Foot Ulcers
    • Venous Ulcers
  • Traumatic Wounds
  • Burns
  • Others
•  End User Insights (Revenue, USD BN, 2019 - 2031)
  • Hospitals
  • Clinics
  • Homecare Settings
• Regional Insights (Revenue, USD BN, 2019 - 2031)
  • North America
    • U.S.
    • Canada
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Rest of Latin America
  • Europe
    • Germany
    • U.K.
    • Spain
    • France
    • Italy
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • South Korea
    • ASEAN
    • Rest of Asia Pacific
    • Middle East
    • GCC Countries
    • Israel
    • Rest of Middle East
  • Africa
    • South Africa
    • North Africa
    • Central Africa
• Key Players Insights
  • entrotech life sciences inc.
  • DermaRite Industries, LLC.
  • Argentum Medical
  • Alliqua BioMedical
  • AccelHeal
  • BD
  • Mölnlycke Health Care AB
  • Aroa Biosurgery Limited.
  • Milliken & Company
  • Polymedics Innovations GmbH
  • Urgo Medical North America
  • Medline Industries, LP
  • MCKESSON CORPORATION
  • Integra LifeSciences
  • INNOVACYN, INC.
  • Medtronic
  • Cardinal Health
  • Ferris Mfg. Corp.
  • Hollister Incorporated
  • Smith+Nephew