Advanced Wound Care Market 2020 Regional Growth Drivers, Trends, and Forecasts to 2026

Advanced Wound Care Market 2020 Regional Growth Drivers, Trends, and Forecasts to 2026

Advanced Wound Care Market report offers in-depth analysis of the industry size, share, major segments, and different geographic regions, forecast for the next five years, key market players, and premium industry trends. It also focuses on the key drivers, restraints, opportunities and industry challenges.

The advanced wound care market growth will be driven by robust technological advancement in the medical field, a substantial rise in geriatric population, and numerous government initiatives to enhance healthcare infrastructure. Advanced wound dressings are impermeable to bacteria and speed up the healing of wounds. Reportedly, chronic diseases currently account for nearly 60% of all deaths globally.

An increasing number of surgical procedures to treat chronic ailments and injuries including complexed nonhealing wounds would boost the demand for advanced wound care products in the upcoming years. According to a GMI, report, global advanced wound care market size is projected to surpass US$14.4 billion by 2026. Mentioned below are some factors encouraging the adoption of advanced wound care solutions.

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Significant rise in road accidents

As per the WHO estimations, road accidents across the globe claim nearly 1.35 million lives each year and around 50 million people suffer from non-fatal injuries. Such accidents often lead to heavy blood loss and other injuries, which require quick medical attention and surgical procedures to provide immediate relief to the patient.

A drastic rise in surgical procedures owing to a growing number of accidents, trauma cases, and chronic diseases globally will bolster the advanced wound care industry landscape in the forthcoming years.

Consistent demand for wound dressing products

The wound dressing product segment was accounted for a substantial market share of around 55% in 2019 and is expected to show similar trends through 2026. The segment is further classified into anti-microbial dressings, hydrocolloidal dressings, foam dressings, alginate dressings, hydrogel dressings, film dressings, and others.

On account of reckless driving and alcohol consumption, the number of road accidents have increased significantly over the years, especially in urban regions. These factors, along with the rising incidences of skin burns requiring alginate and hydrocolloid wound dressings would further enhance the product demand.

 Wide application in surgical wound treatment

The advanced wound care industry share from surgical wounds application segment accounted for a resounding revenue share of over US$3.1 billion in 2019. The ability of these solutions for healing wounds and eliminating chances of fungal infection will increase their demand considerably.

Additionally, a growing number of health problems and surgical procedures across the globe and the expansion of healthcare infrastructure in developed and developing nations will spur segment growth.

Growing adoption in homecare settings

The advanced wound care industry share from homecare settings segment is expected to grow at over 6.5% CAGR through 2026. Growing preference for different wound treatment solutions among the elderly would propel homecare settings segment expansion.

The easy availability of numerous wound care solutions by leading pharma firms helps elder people to get the benefits of these medical products conveniently. Benefits associated with the product such as ease of use, convenience, and reduced hospital visits would boost the demand for advanced wound care solutions in the coming years.

Robust advanced wound care industry in APAC

The Asia Pacific advanced wound care industry in 2019 accounted for about 16% market share and is expected to grow considerably in the upcoming years. The regional industry expansion is majorly attributed to the rising medical tourism in emerging countries such as Thailand and India. These countries are also extensively investing towards the development of an improved healthcare infrastructure.

Lohmann & Rauscher, Hollister Incorporated, Coloplast, Mölnlycke, Beiersdorf global, ConvaTec Group, HARTMANN International, MPM Medical, Derma Sciences, Medline Industries, B. Braun, Integra LifeSciences Corporation, Organogenesis, 3M, and Smith and Nephew are some prominent firms which are part of the global advanced wound care industry.

The surging number of patients suffering from chronic diseases, who are more vulnerable to developing chronic wounds would further escalate the demand for advanced wound care products, bolstering the industry outlook significantly. 

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Partial Chapter of the Table of Content 

Chapter 2   Executive Summary

2.1    Advanced wound care industry 3600 synopsis, 2015 - 2026

2.1.1    Business trends

2.1.2    Product trends

2.1.3    Application trends

2.1.4    End-use trends

2.1.5    Regional trends

Chapter 3   Advanced Wound Care Industry Insights

3.1    Industry segmentation

3.2    Industry landscape, 2015 - 2026

3.3    Industry impact forces

3.3.1    Growth drivers

3.3.1.1    Growing geriatric population base worldwide

3.3.1.2    Increasing incidences of chronic diseases

3.3.1.3    Technological advancement in wound care industry in developed regions

3.3.1.4    Increasing number of surgical procedures

3.3.2    Industry pitfalls and challenges

3.3.2.1    High cost of medical devices

3.4    Regulatory landscape

3.5    COVID-19 impact analysis

3.6    Technology landscape

3.7    Growth potential analysis

3.7.1    By product

3.7.2    By application

3.7.3    By end-use

3.8    Porter’s analysis

3.9    Competitive landscape, 2019

3.9.1    Company market share analysis, 2019

3.10    PESTEL analysis