Global Advanced Wound Care Market Outlook
The advanced wound care market is poised to leverage at a CAGR of ~4% between 2020 and 2030. Rising incidence of type-1 diabetes has augmented treatment for diabetic ulcers. Presently, more than 4.5 million patients with diabetic pressure ulcers require treatment. Moreover, a significant number of patients suffer from venous ulcers. These surging incidences of chronic wound conditions is poised to leverage the advanced wound care market to a very large extent. Consequently, availability of advanced wound care products has risen. Advanced wound care products are effective due to their advantages such as maintaining a stable temperature around the wound to allow optimum oxygen flow. In addition, advanced wound care products also protect the wound from infection and help to remove the dead tissue.
Global Advance Wound Care Market Product Insights: Wound Cleansers Takes the Cake, Foam Dressings Catching Up
Wound cleansers constitutes the bulk of the global advanced wound care market, capturing nearly 30% of the market share. This is followed by the foam dressings segment, pegged at over one-tenth of the market. Protection from loose debris and planktonic bacteria to promote an optimal healing environment shall drive the growth of the wound cleansers segment. Cushioning of the wound and periwound area from additional trauma as well as providing thermal insulation drives the ri sing popularity of foam dressings.
North America and Europe jointly dominate the global advanced wound care market, capturing more than 70% of the market. Increasing prevalence of diabetic ulcers, venous disease and arterial injuries have prompted market players to establish their business operations in the North American market.
Growth in the European market is primarily driven by increasing cases of post-operative wounds. According to Eurostat, approximately 1.4 million women undergo caesarian sections during delivery, which increases the risk of post-surgical wounds. Therefore, the scope for advanced wound care has augmented in the region.
The leading manufacturers of advanced wound care market are focusing on acquisition of regional players to strengthen their product portfolio and boost revenue growth form that region. For Instance, in 2017 Convatec Group plc, a U.K. based global manufacturer of wound care products, has acquired its Dutch rival Eurotec Beheert to drive ambitious growth plans. This acquisition has expanded the ConvaTec market in the France and Benelux region. Also, 2012, Molnlycke Health Care, has completes the acquisition of wound care and burn care business segment of Brennen Medical. This acquisition has provided Molnlycke Health Care with vast range of technologically advanced and clinically proven wound care solution. Similarly, other leading manufacturers of wound care product are also focusing on the acquisition of regional players to retain their market position.
COVID-19’s Impact on Advanced Wound Care Market:
The COVID-19 pandemic has ushered in an unprecedented era of uncertainty. Healthcare providers have been on tenterhooks searching for a remedy to eradicate it. As the pandemic infects people at an exponential rate, patients with chronic vulnerabilities are especially at a high risk of fatalities associated with the deadly virus. Consequently, advanced wound care has become a top priority. Wound Care Centers play a pivotal role in the local healthcare community by providing timely treatment to prevent the spread of open-wound infections. Since wound care involves physical contact with patients, it is imperative for doctors and surgeons to take basic precautionary measures such as sterilizing surgical instruments, sanitizing and washing of hands and wearing surgical masks and gloves. Prominent market players such as ConvaTec are engaged in augmenting production cycles to ensure a steady supply of hydro fibers and other dressing products. For example, the company has been mass producing its AQUACELL hydro fibers for dressing up diabetic foot ulcers.
“Rising prevalence of chronic conditions will bolster market prospects for the advanced wound care market. The need for effective wound care has only burgeoned amid the COVID-19 pandemic, and is poised to remain so through 2030.”
Global Advanced Wound Care Market: Report Scope:
The recent study on advanced wound care market undertaken by Fact.MR incorporates a decade long forecast ranging from 2020 to 2030 and explicates on the vital dynamics such as drivers, opportunities and restraints. Analysis of the market has been done through the following segments: product type, end-user and distribution channel. Each segmental analysis incorporates the revenue and growth prospects.
A regional landscape has been embedded, incorporating the abovementioned segments. The regional profiling has been done across seven geographies: North America, Latin America, Europe, East Asia, South Asia, Oceania and MEA. Towards the end, a competitive landscape has been provided. This section includes details about key market players, their revenue shares, product launches and important collaborations with other players. Overall, the report provides a realistic picture of the future market prospects for advanced wound care market players.
Global Advanced Wound Care Market: Scope of the Report
Fact.MR recently published a market study on the global advanced wound care market. The study provides detailed assessment on the key market dynamics, including drivers, trends, opportunities, restraints, and detailed information about the global advanced wound care market structure. The market study presents exclusive information about how the global advanced wound care market will grow during the forecast period (2020-2030).
Key indicators of market growth, which include Year-on-Year (Y-o-Y) growth of the market, and compound annual growth rate (CAGR) are explained in Fact.MR’s study in a comprehensive manner. This information can help readers understand the quantitative growth prospects of the global advanced wound care market during the forecast period.
The study is relevant for stakeholders in the global advanced wound care market, including advanced wound care manufacturers, suppliers, distributors, and investors, and can help them in developing appropriate strategies to grow in the market. Stakeholders in the advanced wound care market, investors, industry experts, researchers, and journalists, as well as business researchers can leverage the information and data presented in Fact.MR’s study.
The study also includes statistics as well as facts related to macroeconomic as well as microeconomic factors that are impacting key developments in the market. It also offers actionable insights based on the future trends in the global advanced wound care market. Furthermore, small businesses and new entrants in the global advanced wound care market too can make use of the information presented in this study, based on which, they can make appropriate business decisions to gain momentum in the market.
Key Segments of Global Advanced Wound Care Market
Fact.MR’s study on the global advanced wound care market offers information divided into three important segments— product type, end user, and region. This report offers comprehensive data and information about the important market dynamics and growth parameters associated with these categories.
Key Questions Answered in Fact.MR’s Global Advanced Wound Care Market Report
- Which regions will continue to remain the most profitable regional markets for advanced wound care market players?
- Which factors will induce a change in the demand for advanced wound care manufacturers during the assessment period?
- How will changing trends impact the global advanced wound care market?
- How can market players capture the low-hanging opportunities in the advanced wound care market in developed regions?
- Which companies are leading the global advanced wound care market?
- What are the winning strategies of stakeholders in the global advanced wound care market to upscale their position in this landscape?
Global Advanced Wound Care Market: Research Methodology
In Fact.MR’s study, a unique research methodology is utilized to conduct extensive research on the growth of the global advanced wound care market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure accuracy and reliability of conclusions.
Secondary resources referred to analysts during the production of the advanced wound care market study include statistics from government organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, who contributed to the development of this report as a primary resource.
Comprehensive information acquired from primary resources and secondary resources acts as a validation from companies in the global advanced wound care market, and makes Fact.MR’s projection on the growth prospects of the global advanced wound care market more accurate and reliable.
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