Advanced Wound Care Market by 2030

Global advanced wound care market size was valued at $8,978.0 million in 2020, and is projected to reach $14,190.5 million by 2030, registering a CAGR of 4.6%

PORTLAND, OREGON, UNITED STATES, May 4, 2023 /einpresswire.com / -- As per the report published by Allied Market Research, the global advanced wound care market was pegged at $8.97 billion in 2020 and is expected to reach $14.19 billion by 2030, growing at a CAGR of 4.6% from 2021 to 2030.

Top 10 key players in the advanced wound care market:

Smith & Nephew plc
Acelity L.P. Inc.
ConvaTec Group plc
Mölnlycke Health Care AB
3M Company
Coloplast A/S
Integra LifeSciences Corporation
Organogenesis Inc.
Medline Industries Inc.
Cardinal Health Inc.

These companies are leaders in the development and manufacturing of advanced wound care products, including dressings, skin substitutes, and negative pressure wound therapy devices. They have a global presence and a strong focus on research and development, allowing them to stay at the forefront of innovation in the industry.

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Impact of Covid-19 on Advanced Wound Care Market-

The Covid-19 pandemic negatively affected the market due to countrywide lockdown and canceled or postponed elective surgeries. Moreover, the prolonged lockdown disrupted the supply chain and increased the prices of medical equipment and raw materials.

However, the increase in skin injuries in medical care providers is expected to boost the demand for advanced wound care.

There have been several key developments in the advanced wound care market in recent years. Here are some examples:

Technological advancements: The industry has seen significant advancements in wound care technology, such as the development of smart bandages that can monitor the healing process and provide real-time feedback to clinicians.

Increased focus on patient-centered care: There has been a greater emphasis on patient-centered care in the wound care industry, with more attention being paid to patient preferences and comfort. For example, companies are developing products that are more comfortable to wear and easier to use for patients.

Growing demand for bioactive wound dressings: Bioactive wound dressings that promote healing and prevent infection have become increasingly popular in the advanced wound care market. These dressings contain substances such as silver, honey, or collagen, which have antimicrobial properties.

Growth of the regenerative medicine market: The regenerative medicine market, which includes skin substitutes and other tissue-engineered products, has seen significant growth in recent years. These products are designed to promote the growth of new tissue and accelerate the healing process.

Rising adoption of negative pressure wound therapy: Negative pressure wound therapy (NPWT) is a popular treatment method for chronic and complex wounds. NPWT involves the application of negative pressure to the wound, which helps to reduce swelling and promote healing. The adoption of NPWT has been on the rise due to its effectiveness in treating difficult-to-heal wounds.

Get detailed COVID-19 impact analysis on the Advanced Wound Care Market-

The advanced wound care market has significant scope for growth and innovation. Here are some reasons why:

Aging population: As the global population continues to age, the prevalence of chronic diseases and difficult-to-heal wounds is expected to increase. This creates a growing demand for advanced wound care products and services.

Increase in chronic diseases: Chronic diseases such as diabetes and obesity are on the rise, which can lead to the development of chronic wounds such as diabetic foot ulcers. This further drives the need for advanced wound care solutions.

Advancements in technology: The wound care industry is constantly evolving, with new technologies and materials being developed to improve wound healing. This creates opportunities for companies to innovate and create new products and services.

Emphasis on cost-effective healthcare: Healthcare systems around the world are under pressure to reduce costs while maintaining quality of care. Advanced wound care products that can improve healing times and reduce hospital stays can help achieve this goal.

Increasing awareness and education: There is a growing awareness among patients and healthcare providers about the benefits of advanced wound care products. This has led to increased demand for these products and a greater emphasis on education and training in the field of wound care.

Overall, the advanced wound care market is expected to continue to grow as the need for innovative solutions to complex wounds increases.

Want to Explore More? Connect with our Analyst-

The global advanced wound care market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across North America held the largest share in 2020, accounting for more than two-fifths of the market. However, the market across Asia-Pacific is expected to register the highest CAGR of 5.7% during the forecast period.

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About Allied Market Research:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.

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