Wound healing involves restoration of tissue, on its own after the injury. Some metabolic conditions caused by chronic diseases and other factors could hamper the healing process leading to chronic and non-healing wounds. In the current scenario, as more people suffer from non-healing wounds, it would be extremely necessary for the advanced wound care industry to develop innovative technologies to solve complications arising out of chronic wounds. With rising per capita income in the developed and developing regions of the world coupled with unhealthy lifestyle, the prevalence of chronic diseases is increasing every year. Additionally, prevalence of chronic wounds and infections has increased due to rise in the population with comorbidities. For an effective treatment, general practitioners are not qualified enough to understand chronic wound. However, advanced wound care professionals are extensively trained and specialized for treating chronic wound healing. Hence, advanced wound care is necessary for not just healing but also to prevent future complications such as amputations. It can significantly enhance a patient’s quality of life. It has therefore become increasingly popular among medical professionals.
Market Size and Forecast
The global advanced wound care market is expected to attain a robust CAGR during the forecast period i.e., 2020-2028. This can be attributed to rising number of road accidents resulting in injuries, prevalence of diabetes and increasing research and development activities pertaining to wound care around the globe. The market is segmented by product, wound type, end user and region. The product segment is further segmented into infection management, active wound care, wound therapy devices and exudate management, out of which, the active wound care segment is anticipated to grow at the fastest rate on account of rising chronic diseases such as diabetes mellitus, obesity, and elderly population that is more prone to chronic wounds and infections.
Rising Prevalence of Chronic Diseases & Growing Demand for Evidence-Based Approach Towards Treating Wounds
Rising per capita income and sedentary lifestyle in the developing and developed countries has led to an increase in chronic diseases such as diabetes mellitus and various kinds of ulcers. Due to high prevalence of such diseases, chances of wound infections with slower recovery also increases. Moreover, some developing countries following traditional wound care practices are now looking to adopt the advanced wound care practices. Additionally, people are becoming more inclined towards evidence-based treatments with higher accuracy as compared to conventional methods. These are some of the significant factors contributing to the growth of the market. CLICK TO DOWNLOAD SAMPLE REPORT
Increasing Research and Development Activities
Advanced wound care is showing promising results in its initial stages in treatment of chronic wounds. Extensive research and development activities being carried out by the government organizations and research universities are estimated to exhibit notable opportunities for market growth over the forecast period.
High Cost of Treatment
Lack of awareness and high cost associated with the advanced wound care treatment is estimated to adversely affect the growth of the market over the forecast period.
Our in-depth analysis of the global advanced wound care market includes the following segments:
By Wound Type:
By End User:
On the basis of regional analysis, the global advanced wound care market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Among these regions, the market in North America is anticipated to hold the largest market share on the back of availability of major key players in the region, increasing geriatric population and numerous initiatives taken by authoritative bodies to raise awareness regarding the efficacy of advanced wound care treatment and associated products. Additionally, availability of advanced services and trained professionals is contributing to the growth of the market in the region.
The advanced wound care market in Asia Pacific is projected to witness fastest growth owing to growing population and rising disposable income that is driving people towards advanced wound care treatment. This growth if closely trailed by the market in Europe owing to rising geriatric population in the region.
The global advanced wound care market is further classified on the basis of regions as follows:
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