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  • Published On : Jan 2023
  • Code : CMI1159
  • Industry : Medical Devices
  • Pages : 145
  • Formats :

The global advanced wound care management market was valued at US$ 10,604.5 Mn in 2021 and is forecast to reach a value of US$ 13,898.5 Mn by 2028 at a CAGR of 3.9% between 2022 and 2028. The global advanced wound care management market is experiencing strong growth due to the rise in incidence of chronic wounds and growing geriatric population worldwide. Moreover, increase in demand for advanced wound care management products/services and rise in number of surgical procedures across the globe is expected to boost growth of the market. However, factors such as high cost of advanced wound care products/treatments and increasing number of product recalls are expected to hamper the growth of the market.

Global Advanced Wound Care Management Market: Regional Insights

Based on geography, the global advanced wound care management market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.

Among regions, North America is expected to gain highest share in the market over the forecast period owing to the increasing burden of chronic diseases, such as diabetes, and growing geriatric population in this region. For instance, the incidence of chronic wounds, especially foot ulcers, has increased among the diabetic population. Foot ulcer is a common complication of diabetes. People who use insulin are at a higher risk of developing a foot ulcer, as are patients with diabetes-related kidney, eye, and heart disease. According to the American Diabetes Association, about 1.5 million people in the U.S. will be diagnosed with diabetes in 2022.

Asia Pacific is expected to witness robust growth in the global advanced wound care management market due to the increase in incidence of chronic diseases and increase in the geriatric population, especially India and China. For instance, according to the International Diabetes Federation (IDF), 2021 report, the number of diabetic cases in China was 140.9 million, which accounts for 10.6% of China’s population, and this number is expected to reach 164.06 million by 2030. The country was reported with 72.83 million undiagnosed cases of diabetes in 2021. This in turn is expected to aid in the growth of the global advanced wound care management market.

Figure 1. Global Advanced Wound Care Management Market Share (%), by Region, 2021

Advanced Wound Care Management  | Coherent Market Insights

Global Advanced Wound Care Management Market Drivers:

Rise in incidence of chronic wounds and diabetic ulcers to drive market growth

One of the key factors expected to propel growth of the global advanced wound care management market over the forecast period is the increasing incidence of chronic wounds, ulcers, and diabetic ulcers across the world. Diabetic population is at a higher risk of developing a foot ulcer, driving the market growth. According to the International Diabetes Federation (IDF), 2021 report, around 537 million adults (20-79 years) across the globe are living with diabetes, and the total number of people living with diabetes is projected to reach 643 million by 2030 and 783 million by 2045.

Growing geriatric population worldwide to underpin market growth

Another factor which is driving the growth of the global advanced wound care management market is the rise in geriatric population around the world. Chronic wounds are mostly seen in the elderly population. According to the National Institutes of Health, in the U.S., 3% of the population older than 65 years have open wounds. By the year 2060, the U.S. government estimates that the elderly population will be over 77 million; chronic wounds will continue to be an increasingly persistent problem in this population. Overall, in the United States, more than 2% of the total population are estimated to be affected by chronic wounds.

Global Advanced Wound Care Management Market Opportunities:

Increase in demand for advanced wound care management products/services is expected to provide significant growth opportunities for players in the advanced wound care management market. For instance, with the increase in incidence of chronic wounds, the demand for novel products/services is also increasing rapidly. In February 2021, Axio Biosolutions Pvt Ltd. announced that they the company has received European CE mark approval for MaxioCel, a wound care product to heal a variety of chronic wounds, such as diabetic foot ulcers, pressure ulcers, cavity wounds, venous leg ulcers, skin abrasions, and surgical wounds during clinical surgeries.

Increase in number of surgical procedures across the globe is expected to offer significant growth opportunities for players in the global advanced wound care management market. For instance, in recent years, there has been an increase in the amount of surgical procedures performed worldwide, which leads to wound development, exacerbating the need for advanced wound care management. According to the National Center for Biotechnology Information (NCBI), worldwide, a staggering 310 million major surgeries are performed each year; around 40 to 50 million in the U.S. and over 20 million in Europe. This in turn is driving the market growth.

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Advanced Wound Care Management Market Report Coverage

Report Coverage Details
Base Year: 2021 Market Size in 2021: US$ 10,604.5 Mn
Historical Data for: 2017 to 2020 Forecast Period: 2022 to 2028
Forecast Period 2022 to 2030 CAGR: 3.9% 2028 Value Projection: US$ 13,898.5 Mn
Geographies covered:
  • North America: U.S. and Canada
  • Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
  • Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
  • Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
  • Middle East: GCC Countries, Israel, and Rest of Middle East
  • Africa: South Africa, North Africa, and Central Africa
Segments covered:
  • By Product Type: Wound Dressings, Active Wound Care, Therapy Devices, and Other Advance Wound Care Products
  • By Wound Type: Chronic Wound and Acute Wound
  • By Geography: North America, Europe, Asia-Pacific, Middle East and Africa, and South America
Companies covered:

3M Company, Smith & Nephew PLC, Paul Hartmann AG, MiMedx Group Inc., Molnlycke Health Care AB, Integra Lifesciences, ConvaTec Group PLC, Coloplast Group, Cardinal Health Inc., B. Braun SE, and Organogenesis Holdings Inc., among others.

Growth Drivers:
  • Rise in incidence of chronic wounds and diabetic ulcers 
  • Growing geriatric population worldwide
Restraints & Challenges:
  • high cost of advanced wound care products
  • Increasing number of product recalls

Global Advanced Wound Care Management Market Trends:

Focus on launching novel products is a recent trend

One of the key trends expected to drive the growth of the global advanced wound care management market is the increasing focus on the development on novel wound care products. With the rise in incidence of chronic wounds, the demand for safe, effective wound care products is also increasing rapidly. As a result, players in the market are focusing on developing and launching novel wound care products in the market. This trend is expected to continue over the forecast period, driving the growth of the advanced wound care management market.

Increase in research and development is another trend

Several academic and research institutes, as well as market players, are engaged in research and development activities, which in turn is expected to accelerate growth of the market. Researchers have also reported that a new-age technique, which has shown promising results on animals, could prove beneficial for millions of diabetes patients and help medical professionals in providing better treatment to patients. These techniques are undergoing clinical trials, and this trend is also expected to continue during the forecast period.

Global Advanced Wound Care Management Market Restraints:

High cost of treatment to hamper the growth of the market

Another key factor which is hampering the growth of the global advanced wound care management market is the high cost of advanced wound care products/treatments. The high cost of wound care treatments & advanced wound care products may reduce the adoption of these products/treatments, especially in cost-sensitive markets. Moreover, patients and doctors in such markets opt for cost-effective advanced wound care products or treatments. However, with the rise in awareness among people, the adoption of advanced wound care products/treatments is also increasing.

Increasing number of product recalls to hinder market growth

One of the key factors expected to hamper growth of the global advanced wound care management market is the increasing number of product recalls by regulatory authorities such as the U.S. Food and Drug Administration (FDA). For instance, in March 2020, U.S. FDA recalled a class II device Honey Hydrogel, which is manufactured by Gentell, Inc. The device was recalled because it was discovered that the product was not properly registered with FDA. However, increase in focus on the development of safe/effective wound care products is expected to drive market growth.

Figure 2. Global Advanced Wound Care Management Market Share (%), by Product Type, 2021

Advanced Wound Care Management  | Coherent Market Insights

Global Advanced Wound Care Management Market Segmentation:

The global advanced wound care management market report is segmented into Product, Wound Type, and Geography.

Based on Product Type, the market is segmented into Wound Dressings, Active Wound Care, Therapy Devices, and Other Advance Wound Care Products. Out of which, Wound Dressings Segment is expected to dominate the market during the forecast period and this is attributed to the increase in incidence of both chronic & acute wounds. Wound dressings provide the most optimum conditions for wound healing while protecting the wound from infection.

Therapy Devices Segment is also expected to witness robust growth in the near future and this is owing to the rise in awareness among people toward the availability of cost-effective advanced wound care therapy devices. Therapy devices have become a popular treatment method for the management of many acute and chronic wounds.

Based on Wound Type, the market is segmented into Chronic Wound and Acute Wound. Out of which, Chronic Wound Segment is expected to dominate the market over the forecast period and this is attributed to the increasing incidence of chronic wounds worldwide.

Global Advanced Wound Care Management Market: Key Developments

In May 2022, the Technical University of Munich (TUM) in Germany developed a new kind of film dressing using mucin molecules that can not only protect wounds like conventional dressings but also add active drugs to accelerate wound healing, expel bacteria, inhibit inflammation, and finally decompose on the skin by itself, which is a new revelation for sensitive skin.

In May 2022, Winner Medical announced the launch of its transparent film dressings, bordered silicone foam dressings with SAF, antibiosis series products, and the company’s new product, the CMC dressing, in France.

In August 2021, researchers form the IIT Guwahati, India invented a low-cost, biodegradable, and composite transparent wound-dressing film. This material, based on the integration of a synthetic polymer, is non-toxic in nature and will create a moist environment that would enable the body to heal on its own through indigenous enzymes, according to recent research.

In November 2020, Australia’s Griffith University entered into a partnership with the University of Michigan to launch a research centre to improve acute wound care.

Global Advanced Wound Care Management Market: Key Companies Insights

The global advanced wound care management market is highly competitive. This is attributed to the increase in volume of surgical procedures across the world, as a result, players in the market are focusing on launching novel products in the market.

Some of the key players in the global advanced wound care management market are 3M Company, Smith & Nephew PLC, Paul Hartmann AG, MiMedx Group Inc., Molnlycke Health Care AB, Integra Lifesciences, ConvaTec Group PLC, Coloplast Group, Cardinal Health Inc., B. Braun SE, and Organogenesis Holdings Inc., among others.

*Definition: Advanced wound care management products are used to treat both acute and chronic wounds, including leg, diabetic, and pressure ulcers, burns, and post-operative wounds. Advanced wound care products encourage the natural healing process as well as help maintain a conducive environment to protect the wound from external environment.

Advanced wound care management products are used to treat acute and chronic wounds, including leg, diabetic, and pressure ulcers, burns, and post-operative wounds. These products encourage the natural healing process as well as help to maintain a conducive environment to protect the wound from external environment. Moreover, advanced wound care products are standard solution for the treatment of chronic wounds, owing to their efficiency and effectiveness in managing wounds by enabling faster healing.

Market Dynamics:

Rise in incidence of chronic wounds, growing geriatric population worldwide, increase in demand for advanced wound care management products, rise in number of surgical procedures, increase in research and development, and increase in awareness among people about advanced wound care is expected to propel growth of the global advanced wound care management market.

For instance, in March 2022, Advanced Oxygen Therapy Inc. (AOTI) received approval from the Chinese National Medical Products Administration (NMPA) for its unique cyclically pressurized topical wound oxygen (TWO2) therapy. Moreover, in August 2021, Indian Institute of Technology (IIT) Guwahati made a pioneering invention in wound-healing technology as the researchers at the institute have developed a biodegradable low-cost composite transparent wound dressing film. The dressing creates a moist environment and lets the body heal the wound using endogenous enzymes.

Key features of the study:

  • This report provides in-depth analysis of the global advanced wound care management market, and provides market size (US$ Million) and compound annual growth rate (CAGR %) for the forecast period (2022–2028), considering 2021 as the base year.
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market.
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players.
  • It profiles key players in the global advanced wound care management market based on the following parameters such as company highlights, products portfolio, key highlights, financial performance, and strategies.
  • Key companies covered as a part of this study include 3M Company, Smith & Nephew PLC, Paul Hartmann AG, MiMedx Group Inc., Molnlycke Health Care AB, Integra Lifesciences, ConvaTec Group PLC, Coloplast Group, Cardinal Health Inc., B. Braun SE, and Organogenesis Holdings Inc., among others.
  • Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics.
  • The global advanced wound care management market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global advanced wound care management market.

Detailed Segmentation:

  • Global Advanced Wound Care Management Market, By Product:
    • Wound Dressings
    • Active Wound Care
    • Therapy Devices
    • Other Advance Wound Care Products
  • Global Advanced Wound Care Management Market, By Wound Type:
    • Chronic Wound
    • Acute Wound
  • Global Advanced Wound Care Management Market, By Geography:
    • North America
    • Europe
    • Asia-Pacific
    • Middle East and Africa
    • South America
  • Company Profiles:
    • 3M Company
    • Smith & Nephew PLC
    • Paul Hartmann AG
    • MiMedx Group Inc.
    • Molnlycke Health Care AB
    • Integra Lifesciences
    • ConvaTec Group PLC
    • Coloplast Group
    • Cardinal Health Inc.
    • Braun SE
    • Organogenesis Holdings Inc.

Frequently Asked Questions

The global advanced wound care management market size is estimated to be valued at US$   11,016.0 Million in 2022 and is expected to exhibit a CAGR of 3.9% between 2022 and 2028.
Rise in incidence of chronic wounds & diabetic ulcers and growing geriatric population worldwide is fueling the growth of the market.
The Wound Dressings segment is the leading product type segment in the market.
High cost of advanced wound care products and increasing number of product recalls are major factors restraining the market.
The market are 3M Company, Smith & Nephew PLC, Paul Hartmann AG, MiMedx Group Inc., Molnlycke Health Care AB, Integra Lifesciences, ConvaTec Group PLC, Coloplast Group, Cardinal Health Inc., B. Braun SE, and Organogenesis Holdings Inc., among others.

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