Coherent Market Insights released on October 28, 2021

In 2019, the global advanced wound care management market was valued at 10.911.2 billion U.S. dollars and is expected to grow at a compound annual growth rate of 6.8% during the 2019-2027 forecast period.

Advanced wound care management market, by product type (wet wound dressing {foam dressing, hydrocolloid dressing, film dressing, alginate dressing, hydrogel dressing and collagen dressing}, wound treatment equipment {decompression equipment, negative pressure wound Treatment systems, hyperbaric oxygen equipment and electrical stimulation equipment}, and active wound care {artificial skin and substitutes and topical preparations}), by wound type (surgical wound, ulcer {pressure ulcer, diabetic foot ulcer and venous ulcer}, wound Sexual wounds, burns and other wounds), by end user (hospitals, clinics and outpatient surgery centers) and by region (North America, Latin America, Europe, Asia Pacific, Middle East and Africa)-size, share, prospects and opportunity analysis, 2019-2027

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Due to the increasing incidence of burns, surgical wounds and ulcers, the global advanced wound care management market is expected to grow.

Trauma is a serious injury to the body, which can be caused by blunt trauma (when an object hits the body forcefully, causing deep wounds and bone damage) or penetrating trauma (when the impact object pierces the body, causing an open wound). Traumas that cause bone damage can be caused by a variety of reasons, including car accidents, falls, or violent behavior. Due to the increasing number of traumas caused by traffic accidents and other reasons, the global advanced wound care management market is expected to grow. The most common cause of trauma is a traffic accident. According to the 2018 Fact Sheet of the World Health Organization (WHO), traffic accidents cause approximately 200 to 50 million casualties worldwide each year. According to the same source, road traffic injuries are the leading cause of death among people aged 15 to 29, and about 1.25 million people die in accidents each year. In addition, according to the 2015 Global Burden of Disease Report of The Lancet, road injuries are one of the top 20 causes of disease burden in the world.

During the forecast period, the increase in the incidence of diabetes leading to diabetic foot ulcers is expected to drive the growth of the global advanced wound care management market. According to a 2017 report by the National Health Service's Northwest Coast Strategic Clinical Network, approximately 4.5 million people have diabetes in the UK alone. According to the same source, approximately 200,000 diabetic patients in the UK had diabetic foot ulcers in 2017. In addition, it is estimated that approximately 64,000 diabetic patients in Wales and England will develop foot ulcers at any given moment.

The increasing business expansion plans of major market players are expected to drive the growth of the global advanced wound care management market during the forecast period. For example, AHA Hyperbarics GmbH announced the establishment of a subsidiary AHA Hyperbarics USA in the United States in June 2017 to expand its products and business operations.

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In addition, one of the factors that are expected to slow the growth of the global advanced wound care management market during the forecast period is the high price of products related to the treatment of chronic injuries. According to a study published by the American College of Podiatry, in 2015, 9% to 20% of diabetic foot ulcer patients in the United States required hospitalization. In addition, there are reports that the cost of treatment of diabetic foot ulcers increases with age.

Due to the continuous increase in product launches by major market players, North America held the largest share of the global advanced wound care management market in 2018. Due to increased product launches by market participants, North America has dominated the global advanced wound care management market in 2018. For example, Smith Nephew released the PICO 7Y Disposable Negative Pressure Wound Treatment System (sNPWT) with AIRLOCK technology. The United States allowed two wounds to be treated at the same time in September 2019. The system is intended for use in surgical incisions and acute and chronic wounds.

In the global advanced wound care management market, the Asia-Pacific region is a growing region. This is due to the increase in the number of global companies investing in the region. For example, Avita Medical Ltd. announced in January 2016 that it had reached a distribution agreement with INDEE Medical to commercialize ReCell Device, a medical device combined with traditional treatments for burns and reconstructive surgery in Japan. Similarly, Mengdi started selling Medifoam (also known as BETAplast in Southeast Asia) in South Asian countries such as Thailand, Vietnam and Malaysia, as well as South Korea and China in January 2015.

Some of the major players contributing to the global advanced wound care management market are Leap Therapeutics, 3M Company, Integra Life Sciences, Johnson & Johnson, Hematris Wound Care GmbH., Baxter International, Medtronic, Coloplast, and Kinetic Concepts.

Reasons for buying this report

• Current and future prospects of the global advanced wound care management market in developed and emerging markets

• The market segment that is expected to dominate the market and the market segment with the highest compound annual growth rate during the forecast period.

• Regions/countries with the fastest growth rate expected during the forecast period

• The latest developments, market shares and strategies adopted by major market participants

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