Global Advanced Wound Care Market Insights Forecasts to 2033

• The Global Advanced Wound Care Market Size was Valued at USD 10.57 Billion in 2023
• The Market Size is Growing at a CAGR of 4.68% from 2023 to 2033
• The Worldwide Advanced Wound Care Market Size is Expected to Reach USD 16.70 Billion by 2033
• Asia Pacific is Expected to Grow the fastest during the forecast period.

The Advanced Wound Care Market Size is Anticipated to Exceed USD 16.70 Billion By 2033, Growing at a CAGR 4.68% from 2023 to 2033.

Market Overview

Advanced wound care includes skin substitutes, bioactive wound dressings, negative pressure wound therapy, stem cell therapy, and antimicrobial dressings are a few cutting-edge items that have recently entered the wound care industry. A wound is defined as an injury or disturbance of the cellular, anatomical, and/or functional integrity of live tissue. In technical terms, acute and chronic wounds are distinguished by the amount of time that has passed since the index damage and, more crucially, by the presence of physiological impairment. Advanced wound care healing films are planned to become increasingly prevalent in the years to come because of the growing number of diabetes patients in the globe and the rise in the prevalence of diabetic foot ulcers. Advanced wound care is particularly used for wounds that do not heal after receiving conventional or essential therapy. Advanced wound care is the most modern approach and advancement in the field of wound care. Experts in wound dressing have profited from several cutting-edge solutions to treat various kinds of wounds. These cutting-edge medications and dressings have completely altered the way medical professionals manage a variety of wounds, from simple cuts and burns to complex wounds including persistent ulcers. Compared to traditional bandages, advanced wound care offers greater benefits, which improves patient outcomes.

In April 2023, Convatec Group Plc reported that it has purchased 30 Technology Limited's anti-infective nitric oxide technology platform, which comprises new commercial assets and R&D. Convatec intends to investigate the potential applications of this cutting-edge technological platform in addition to advanced wound care but also its other business categories. Convatec's robust advanced wound care portfolio is enhanced by the new product pipeline and revolutionary technology platform, which further bolsters the company's capacity to provide patients with best-in-class solutions. In addition to other transformational uses, the prevention of urinary tract infections is another possible application for this technology.   

The significant advanced wound care market share of the companies included in this report is Mölnlycke Health Care, Smith & Nephew, ConvaTec Group plc, Coloplast A/S, Cardinal Health, 3M Company, B. Braun Melsungen AG, Hartmann Group, Urgo Medical, Lohmann & Rauscher, and others.

Report Coverage

This research report categorizes the market for the advanced wound care market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the advanced wound care market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the advanced wound care market.

Driving Factors

Diabetes and obesity are two major contributors to the increased frequency and complexity of wounds, which include ulcerations (such as ulcers on the legs or feet) and chronic wounds. Getting care of these wounds will raise medical costs and demand advanced wound treatment. Surgical procedures often lead to tissue damage, significant bleeding, or wound infections. Using cutting-edge wound care products, such as honey wound dressings, which are packed with antimicrobial compounds and have become an effective way to reduce infection and wound bacterial colonization, can accelerate the healing process.

Restraining Factors

Improper wound management, particularly in emerging nations, restricts market growth due to a lack of awareness about advanced wound care solutions. Furthermore, the high cost of chronic wound therapies and advanced wound care products may hinder their acceptance, especially in low-income.

Market Segmentation

The advanced wound care market share is classified into product type, wound type, and point of care.

• The foam silicone dressings segment accounted for the largest revenue share over the forecast period.

Based on the product type, the advanced wound care market is categorized into alginate dressing, hydrocolloid dressings, foam silicone dressings, bordered foam silicone dressings, non-bordered foam silicone dressings, gelling fiber dressings, collagen dressings, transparent film dressing, xeroform (antimicrobial), silver foam dressing (antimicrobial). Among these, the foam silicone dressings segment accounted for the largest revenue share over the forecast period. The foam silicone dressing delivers a soft and highly absorbent absorption for moderate drainage wounds of various types and sizes. Due to an increase in burn cases, different types of ulcers, open wounds, and surgical cases far and wide, there is a growing demand for foam dressing products. Efficacy is usually attributed to the several benefits of foam dressings, such as their capacity to stop exudate, maintain an effective temperature and condition for wound therapy, promote autolytic debridement, and be extremely absorbent.

• The neuropathic segment is anticipated to grow at the highest CAGR during the forecast period.

Based on the wound type, the advanced wound care market is categorized into neuropathic, arterial ulcer, venous ulcer, perineal dermatitis, skin tear, pressure ulcer, burns. Among these, the neuropathic segment is anticipated to grow at the highest CAGR during the forecast period. The increasing incidence of diabetic foot ulcers, venous pressure ulcers, and other chronic wounds is probably fueling the market growth. Diabetic peripheral neuropathy is an activating factor in over 90% of diabetic foot ulcers. Chronically elevated glucose (blood sugar) levels destroy nerves, particularly the sensory, motor, and autonomic nerves. Diabetic neuropathy additionally affects the immune system, reducing the body's ability to fight infections.

• The hospitals segment is projected to hold a significant market share through the forecast period.

Based on the point of care, the advanced wound care market is categorized into hospitals, homecare, nursery/elderly homes. Among these, the hospitals segment is projected to hold a significant market share through the forecast period. The introduction of devoted wound clinics staffed by multidisciplinary teams has considerably improved clinical results while lowering the economic costs associated with extended hospital stays and readmissions. Wound clinics maximize the use of diagnostic, preventative, and therapeutic resources, thereby improving patients' quality of life and facilitating their return to normal activities. This strategic focus on complete wound care solutions in hospital settings emphasizes their critical role in raising treatment standards and generating growth in the healthcare industry.

Regional Segment Analysis of the Advanced Wound Care Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

North America is anticipated to hold the largest share of the advanced wound care market over the predicted timeframe.

North America is projected to hold the largest share of the advanced wound care market over the forecast period. According to our information, the National Center for Chronic Condition Prevention and Health Promotion revealed in May 2023 that six out of ten persons in the United States have a chronic disease such as cancer, diabetes, or other conditions. As a result, there is an increased demand for advanced wound care methods. Due to population growth and an increase in the geriatric population, opportunities arise for key players in the advanced wound care market. Furthermore, this region's advanced wound care market is expected to expand due to increased healthcare spending and the development of guidelines.

Asia Pacific is expected to grow at the fastest CAGR growth in the advanced wound care market during the forecast period. The Asia Pacific market is predicted to rise steadily during the forecast period. This is a result of rising per capita healthcare spending. Furthermore, market players in this region make significant expenditures, which will increase demand for improved wound management products. Furthermore, increased government activities to create awareness regarding useful wound management are projected to drive the use of these devices.

Europe region is witnessing significant growth in the advanced wound care market. The high spending income and the presence of trained authorities are also driving industry expansion. The payment coverage offered by the government or private organizations led to increased surgical procedure adoption.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the Advanced Wound Care Market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Molnlycke Health Care
• Smith & Nephew
• ConvaTec Group plc
• Coloplast A/S
• Cardinal Health
• 3M Company
• B. Braun Melsungen AG
• Hartmann Group
• Urgo Medical
• Lohmann & Rauscher
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In July 2024, AOTI, INC. reported that the US FDA granted 510(k) clearance (K241515) for their NEXATM Negative Pressure Wound Therapy (NPWT) System for use in the home care setting. The device's labeling now contains the extended indications of "for use in acute, extended, and home care settings." In the United States, the System's initial target market was long-term care. This new authorization will allow the marketing of this unique system across all care settings, including the growing home care environment.

• In June 2024, Eluciderm, Inc. earned the Wound Healing Society's Wound Shark 2024 Innovation Award at the 2024 International Symposium for Advanced Wound Care (SAWC 2024). This award is presented to the best innovative company of the year in the wound healing industry.

• In March 2024, FibroBiologics, Inc., a clinical-stage biotechnology company with more than 150 granted and pending patents, disclosed that it is providing an oral presentation and poster presentation at the Boston, Massachusetts-based Advanced Wound Care Summit USA. The company is focused on using fibroblasts and fibroblast-derived materials to discover therapeutics and possible cures for chronic diseases.

• In September 2023, MiMedx Group, Inc. revealed the launch of EPIEFFECT, the latest addition to its assortment of advanced wound care solutions.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the advanced wound care market based on the below-mentioned segments: 

Global Advanced Wound Care Market, By Product Type

• Alginate Dressing
• Hydrocolloid Dressings
• Foam Silicone Dressings
• Bordered Foam Silicone Dressings
• Non-Bordered Foam Silicone Dressings
• Gelling Fiber Dressings
• Collagen Dressings
• Transparent Film Dressing
• Xeroform (Antimicrobial)
• Silver Foam Dressing (Antimicrobial)

Global Advanced Wound Care Market, By Wound Type

• Neuropathic
• Arterial Ulcer
• Venous Ulcer
• Perineal Dermatitis
• Skin Tear
• Pressure Ulcer
• Burns

Global Advanced Wound Care Market, By Point Of Care

• Hospitals
• Homecare
• Nursery/Elderly Homes

Global Advanced Wound Care Market, By Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa