Advanced Wound Care Market to be Worth $18.19 Billion by 2031

Advanced Wound Care Market Size, Share, Forecast, & Trends Analysis by Product (Dressings [Foam, Film, Hydrogel] NPWT, Hyperbaric Oxygen, Cleanser, Growth Factor, Skin Substitute) Application (Surgical, Trauma, Burn, DFU) End User - Global Forecast to 2031

Meticulous Research^®—a leading global market research company, published a research report titled ‘Advanced Wound Care Market Size, Share, Forecast, & Trends Analysis by Product (Dressings [Foam, Film, Hydrogel] NPWT, Hyperbaric Oxygen, Cleanser, Growth Factor, Skin Substitute) Application (Surgical, Trauma, Burn, DFU) End User - Global Forecast to 2031.’

According to this latest publication from Meticulous Research^®, the advanced wound care market is projected to reach $18.19 billion by 2031, at a CAGR of 6.6% during the forecast period. The growth of this market is driven by factors such as the rise in the number of chronic wounds associated with the geriatric population, growing traumatic injuries, rising number of surgeries, benefits offered by advanced wound care products over traditional products, technological advancements in wound care management products, and increasing wound care awareness programs. Moreover, therapy-based solutions, rising demand for advanced wound care dressings, and partnerships and collaborations between market players are expected to offer significant market growth opportunities.

However, the high cost of advanced wound care devices & therapies and the availability of alternative treatment options restrain the market’s growth. Additionally, the lack of healthcare infrastructure in developing countries challenges the market’s growth.

Key Players

The key players operating in the advanced wound care market are 3M Company (U.S.), Cardinal Health, Inc. (U.S.), Smith & Nephew plc (U.K.), Integra LifeSciences Corporation (U.S.), Mölnlycke Health Care AB (Sweden), Coloplast A/S (Denmark), Convatec Group plc (U.K.), DeRoyal Industries, Inc. (U.S.), Medline Industries, LP (U.S.), B. Braun Melsungen AG (Germany), Organogenesis Inc. (U.S.), Winner Medical Co., Ltd. (China), HARTMANN USA, Inc. (U.S.) MIMEDX Group, Inc. (U.S.), and Mil Laboratories Pvt. Ltd. (India).

Advanced Wound Care Market: Future Outlook

The advanced wound care market is segmented based on Product (Advanced Wound Dressings [Foam Dressings {Silicone Foam Dressings, Non-silicone Foam Dressings}, Film Dressings, Hydrocolloid Dressings, Alginate Dressings, Collagen Dressings, Hydrogel Dressings, Super Absorbent Dressings, Hydrofiber Dressings, Wound Contact Layers, and Other Advanced Wound Dressings], Wound Therapy Devices [Negative pressure wound therapy (NPWT)/ Vacuum-assisted Closure (VAC), Topical Oxygen Therapy, Hyperbaric Oxygen Therapy (HBOT), Pressure Relief Devices, Other Therapy Devices], Wound Care Solutions [Sterile Saline Wound Solutions, Wound Cleansers, Gels, Topical Skin Adhesives/Skin Glues], Active Wound Care [Skin Substitutes, Growth Factors], Other Advanced Wound Care Products), Application (Acute Wounds [Surgical Wounds, Traumatic Wounds, Burns], Chronic Wounds [Diabetic Foot Ulcers, Venus Leg Ulcers, Pressure Ulcers, Other Chronic Wounds]), End User (Hospitals & Clinics, Ambulatory Surgical Centers, Home Care Settings, Other End Users) and Geography. The study also evaluates industry competitors and analyzes the regional and country-level markets.

Based on product, the advanced wound care market is segmented into advanced wound dressings, wound therapy devices, wound care solutions, active wound care, and other advanced wound care products. In 2024, the advanced wound dressings segment is expected to account for the largest share of 48.3% of the advanced wound care market. The large market share of this segment can be attributed to the benefits offered by advanced wound dressings and the increasing number of sports injuries. According to the Insurance Information Institute, Inc., in 2022, 405,411 bicycle and accessories injuries, 265,747 football injuries, and 50,643 volleyball injuries occurred in the U.S.

Based on application, the advanced wound care market is segmented into acute wounds and chronic wounds. In 2024, the acute wounds segment is expected to account for the larger share of the market. The large market share of this segment can be attributed to the increasing number of burns & surgeries and growing number of road accidents.

Based on end user, the advanced wound care market is segmented into hospitals & clinics, ambulatory surgical centers, home care settings, and other end users. In 2024, the hospitals & clinics segment is expected to account for the largest share of the market. The large market share of this segment can be attributed to the growing number of surgeries at hospitals, major traumatic injuries treated in facilities, higher adoption of technologically advanced wound care & management products, and extensive use of dressings, therapy devices, and active wound care products for wound closure and healing.

This research report analyzes major geographies and provides a comprehensive analysis of North America (U.S. and Canada), Europe (Germany, France, U.K., Italy, Spain, Switzerland, Netherlands, and the Rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, and Rest of Asia-Pacific), Latin America (Brazil, Mexico, Rest of Latin America), and the Middle East & Africa. In 2024, North America is expected to account for the largest share of 42.3% of the advanced wound care market, followed by Europe and Asia-Pacific. North America’s major market share is attributed to the presence of major wound care companies, advanced healthcare infrastructure, higher budgets of healthcare providers to accept technologically advanced wound care and management technologies, favorable reimbursement policies & growth in wound care awareness programs.

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Key questions answered in the report:

Which are the high-growth market segments in terms of product, application, end user, and region/country?
What was the historical market size for advanced wound care across the globe?
What are the market forecasts and estimates for 2024–2031?
What are the major drivers, restraints, opportunities, and challenges in the global advanced wound care market?
Who are the major players operating in the global advanced wound care market?
What is the competitive landscape like, and who are the market leaders in the global advanced wound care market?
What are the recent developments in the global advanced wound care market?
What strategies are adopted by the major players in the advanced wound care market?
What are the geographical trends and high-growth regions/countries?

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