September 26, 2022 10:30 ET | Source: Future Market Insights Global and Consulting Pvt. Ltd. Future Market Insights Global and Consulting Pvt. Ltd.

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NEWARK, Del, Sept. 26, 2022 (GLOBE NEWSWIRE) -- The advance wound care market is expected to witness phenomenal opportunities by exhibiting a stable CAGR of 3.7% during the forecast period between 2021 to 2031. The global market reached US$ 10.3 Bn in 2020 and is expected to be valued at US$ 15.4 Bn by the end of 2031 according to Future Market Insights (FMI) study.

According to the estimations evaluated during the historic period between 2016 to 2020, the global advance wound care market registered a CAGR of 3%. Surging focus on alternative medicines with a rising inclination toward preventive measures is driving current sales figures in the market. Widespread expansions and product launches in emerging markets are prominent factors promoting advance wound care market growth.

According to the statistics published in 2019, in the Advance Wound Care Journal, substantial demand for wound care products has been witnessed in the world’s two major wound-dressing markets, namely the U.S. and Europe. Globally, the yearly cost for wound care was an average of $2.8 billion in 2014. The forecast was predicted to grow to US$ 3.5 billion in 2021. As per several other investigations, it has been shown that venous insufficiency ulcers represent 50% of chronic foot ulcers related to the venous etiology of chronic wounds.    

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Developing countries such as India and China are anticipated to promote market growth in the manufacturing sector. A reasonable growth seen for value-added products is likely to boost the advance wound care market in the coming years.

More Insights into the Advance Wound Care Market

The U.S. is anticipated to dominate the North American region by accounting for a total of over 93% value share of the global advance wound care market. This dominance is driven by widespread healthcare awareness within the population. Furthermore, factors such as increasing demand for reducing hospital stays, surging number of surgeries, and a rise in demand for innovative & advance wound care products are expected to aid the growth. .

Advance Wound Care Market by Category

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3.1. Key Trends Impacting the Advanced Wound Care Market

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Have a Look at More Valuable Insights of Healthcare

Wound Irrigation Systems Market Size owing to increasing demands from healthcare spending, technological advancements and increased government investments

Wound Evacuators Market Share are projected to grow at a steady CAGR of 4.1% between 2022 and 2032, generating revenues worth US$ 593.6 Million by the end of 2032

Digital Wound Measurement Devices Market Demand is estimated at US$ 2.16 Bn in 2022, and is projected to reach US$ 2.48 Bn by 2025 expanding at 4.7% CAGR over the same period

Advance Wound Dressing Market Growth was valued at $8,978.0 million in 2020, and is projected to reach $14,190.5 million by 2030, registering a CAGR of 4.8%

Negative Pressure Wound Therapy Market Forecast was valued at US$ 5.9 Bn in 2021 and is expected to touch a valuation of US$ 6.2 Bn in 2022

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