BANGALORE, India, Feb. 25, 2020 /PRNewswire/ -- The market size of advanced wound care was measured at USD 8,457 million in 2018 and is expected to hit USD 13,944 million by 2026, posting a 6.5 per cent CAGR from 2019 to 2026.
Wound care is categorized into two types namely traditional wound care (TWC) and advanced wound care (AWC). Advanced wound care products (AWC) are designed for treating acute & chronic wounds. Chronic wounds take longer to heal and are expensive to treat.
Modern wound care is emerging as a standard treatment option for chronic wounds. Traditional wound care products are being increasingly replaced with advanced wound care products due to their efficiency & effectiveness in healing. The advanced wound care market is segmented on the basis of product, application, end-user, and region to give an in-depth analysis.
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TRENDS INFLUENCING THE ADVANCED WOUND CARE MARKET SIZE
- Significant increase in the prevalence of chronic diseases such as diabetes and obesity, increase in the geriatric population, technological advances, problems associated with conventional wound healing procedures, and a boom in the adoption of evidence-based chronic wound therapies drive the growth of the advanced wound care industry.
- In addition, expanded education campaigns for advanced diagnosis & management of wound care, attempts to reduce the length of hospital stay to lower healthcare expenses, and increased propensity toward wound care products that improve clinical outcomes are other factors that contribute to market growth
- The geriatric population is growing at a significant rate, globally. There is a direct correlation between aging and wound healing process — with age, decreased cellular activity reduces the natural ability of the body to close and repair wounds. Hence this raise in geriatric population is invariable impacting the market growth of the Advanced wound care market.
SEGMENT WISE ADVANCED WOUND CARE MARKET SHARE ANALYSIS
- The chronic wound segment created the highest revenue in 2018 and is expected to maintain its predominance over the forecast period, according to the application. This is due to an increase in the prevalence of postoperative surgical wounds, an increase in geriatric population, increased awareness and improved treatment, and advances in technology, which has generated demand for advanced wound care products worldwide.
REGION WISE ADVANCED WOUND CARE MARKET SIZE ANALYSIS
- Due to the large availability of trained medical professionals, the availability of well-developed infrastructure facilities and the presence of a majority of key players, North America dominated the largest share of the advanced wound care market in 2018 and is expected to maintain its dominance during the forecast period.
- Nevertheless, due to its high population base, Asia-Pacific is projected to see the highest growth rate throughout the forecast period, increase in disposable income, and increase patient awareness of advanced treatment and management of wound care. Furthermore, the rise of the geriatric population is the key contributor to the region's market growth.
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ADVANCED WOUND CARE MARKET SEGMENTATION:
- Infection Management
- Silver Wound Dressings
- Non-Silver Dressings
- Collagen Dressings
- Exudate Management
- Hydrocolloids Dressings
- Foam Dressings
- Alginate Dressings
- Hydrogel Dressings
- Active Wound Care
- Skin Substitutes
- Growth Factors
- Therapy Devices
- Negative Pressure Wound Therapy (NPWT)
- Oxygen and Hyperbaric Oxygen Equipment
- Electromagnetic Therapy Devices
- Chronic Wounds
- Pressure Ulcers
- Diabetic Foot Ulcers
- Venous Leg Ulcers
- Arterial Ulcers
- Acute Wounds
- Burns & Trauma
- Surgical Wounds
- Community Health Service Centers
KEY BENEFITS FOR ADVANCED WOUND CARE MARKET:
- The advanced wound care market share and analysis are based on a comprehensive analysis of key developments in the advanced wound care industry.
- The development strategies adopted by the key market players are enlisted to understand the competitive scenario of the global advanced wound care market.
- The study provides an in-depth analysis of the market trends to elucidate the imminent investment pockets.
- The global advanced wound care market trends are studied from 2018 to 2026.
- Information about key drivers restraints and opportunities and their impact analysis on the market size is provided.
- Porter's five forces analysis illustrates the potency of buyers and suppliers operating in the industry.
- The quantitative analysis of the global advanced wound care market from 2019 to 2026 is provided to determine the market potential
SIMILAR REPORTS :
● ASIA-PACIFIC ADVANCED WOUND CARE MARKET
The Asia-Pacific Advanced Wound Care (AWC) market in 2017 was estimated at $1,658 million and is projected to reach $3,655 million by 2025, showing a 10.4 per cent CAGR over the forecast period.
Market growth can be attributed to the rapid increase in the incidence of chronic diseases like diabetes, changes in lifestyle and attempts to reduce surgical costs by reducing the duration of hospital stay. Some factors, such as a favourable reimbursement scenario, increased government spending on health care and increased propensity toward wound care products that enhance clinical outcomes, drive the growth
Based on the product, the market is categorized into infection management, exudate management, active wound care, and therapy devices to give an in-depth overview.
● ADVANCED WOUND CARE AND CLOSURE MARKET
Global Advanced Wound Care and Closure Market is expected to gain $20.5 billion by 2020, posting an 8.0 per cent CAGR for the 2014-2020 forecast period.
Advanced wound care & closure products evolve as a normal solution for chronic wound treatment. Traditional wound care & closure products are gradually being replaced with advanced wound care & closure products due to their simplicity and efficiency in treating wounds by allowing for faster healing. This is expected to accelerate the growth in the near future of the advanced wound care and closure industry.
● ADVANCED WOUND CARE MANAGEMENT MARKET
Advanced Wound Care Management can offer greater benefits compared to traditional wound management systems. Such benefits may include improved convenience, less time to change dressing, quicker healing and decreased possible infection complications.
This report studies the size (value and volume) of the Advanced Critical care Management market by players, countries, product types and end industries, historical data for 2014-2018 and forecast data for 2019-2025. Furthermore, this report also analyses the global competitive landscape, market drivers and trends, opportunities and challenges, threats and entry barriers, sales channels, distributors and Porter's Five Forces Analysis.
● ADVANCED WOUND CARE PRODUCTS MARKET
This report studies the market size (value and volume) of Advanced Wound Care Products by players, countries, product types and end industries, historical data for 2014-2018 and forecast data for 2019-2025. Further, this report also analyses the global competitive landscape, market drivers and trends, opportunities and challenges, threats and entry barriers, sales channels, distributors and Porter's Five Forces Analysis.
● ADVANCED WOUND CARE BIOLOGICS MARKET
Advanced wound care biologics are used commonly in patients with insufficient skin for grafting to treat severe burn injuries. Since then, wound care biologics have been developed and used to treat most complex chronic wounds such as diabetic foot ulcer and venous leg ulcers with the prevalent issue.
This report studies the size (value and volume) of the Advanced Wound Care Biologics market by players, regions, product types and end industries, history data for 2014-2018 and forecast data for 2019-2025. Furthermore it also analyses the global competitive landscape, market drivers and trends, opportunities and challenges, risks and entry barriers, sales channels, distributors and Porter's Five Forces Analytics
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