Advanced Wound Care Market Size, Share & Trends Analysis Report By Product (Moist, Antimicrobial, Active), By Application, By End-use (Hospitals, Specialty Clinics, Home Healthcare), By Region, And Segment Forecasts, 2021 - 2028

Report Overview

The global advanced wound care market size was valued at USD 6.5 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 5.3% from 2021 to 2028. The increasing prevalence of chronic injuries, rising number of surgeries, demand for reducing hospital stay, and growing number of ambulatory surgical centers across the globe is expected to promote market growth during the forecast period.

Increasing prevalence of chronic injuries is one of the key factors leading to the rise in demand for advanced wound care products. The dressings required for healing chronic injuries include films, gauze, hydrogel, hydrocolloid, and foam dressings. Moreover, advanced wound care products containing silver and alginates are also used for removing excess fluids from wounds and protect it from infections. These products comprise hormone-like substances, also known as growth factors. These growth factors allow rapid healing and promote the growth of the body’s cells. In addition, skin-grafts and biomaterials are also used for healing and closing larger wounds, which can’t close on their own. According to the U.S. National Institutes of Health, chronic injuries affect approximately 6.5 million people in the U.S. every year. It also reported that more than USD 25.0 billion is spent on its treatment.

As per the report “Diagnosis and Management of Diabetic Foot Complications” by the American Diabetes Association and Organogenesis, Inc., the annual incidence rate of diabetic foot ulcers in the Western countries is approximately 2.0% and the lifetime risk is 15.0 – 25.0%. The moist wound dressings are, generally, used for the rapid healing of such wounds. Thus, such a high incidence rate of chronic injuries is anticipated to drive the market for advanced wound care over the forecast period.

Moreover, the rising number of road accidents across the globe is also anticipated to drive the market for advanced wound care over the forecast period. For instance, as per the Global Status Report on Road Safety 2018 by the WHO, road crash is one of the leading causes of death among children and young adults aged 5-29 years. Advanced wound care products are majorly used for dressings and quick healing of injuries caused by the crash. Therefore, such factors are expected to boost the growth of the market for advanced wound care.

Furthermore, the increasing incidence of accidents such as road accidents, burns, and trauma events across the globe is anticipated to drive the market for advanced wound care. For instance, as per the WHO (2018), around 1,000,000 people are severely or moderately burnt in India per year. In addition, as per NCBI, in 2017, countries such as Bulgaria, Finland, the Netherlands, China, Australia, and the U.K reported a rise in the incidence of burn injuries. Furthermore, as per the American Association for the Surgery of Trauma, in 2017, around 1.2 million people died globally, accounting for deaths of around 3,242 people per day in road accidents every year. Road accidents mostly occur in middle- or low-income countries. Advanced wound care products are majorly used for the treatment of acute injuries. Papain-based products are generally not used for burn injuries, but in some cases, these are used for superficial and minor burns. Thus, a rising number of accidents is expected to boost the demand for advanced wound care, which is expected to lead to considerable market growth over the forecast period.

Product Insights

Based on product, the moist wound care segment dominated the market for advanced wound care and accounted for the largest revenue share of 59.2% in 2020. Moist wound care helps in the rapid healing of injuries. These wound care create and maintain a moist environment around the wound, which fosters healing. Moist wound care is majorly recommended for chronic injuries such as pressure ulcers, diabetic ulcers, and other slow-healing injuries. Moist wound dressing includes foam, hydrocolloid, film, alginate, hydrogel, and collagen dressings.

The antimicrobial wound care segment is expected to witness the fastest growth rate over the forecast period. These dressing covers are used to alter the wound bed bioburden. Antimicrobial wound care is majorly indicated for partial and full-thickness injuries, such as surgical incisions and percutaneous line sites. These products are available as nylon fabric, island care, film care, sponges, impregnated woven gauzes, or a combination of different materials.

Application Insights

On the basis of application, the acute wound segment dominated the market for advanced wound care and accounted for the largest revenue share of 60.0% in 2020. This can be attributed to rising cases of burns and trauma and the increasing number of surgeries. For instance, as per the WHO, burn injury causes around 180,000 deaths every year. It also reported that most of these cases occur in low and middle-income countries. In South Africa, approximately USD 26.00 million is spent annually for the treatment of burns from kerosene cook stove incidents.

The chronic wounds segment is anticipated to witness the fastest growth rate over the forecast period. The increasing cases of chronic diseases, especially diabetes, and the rising geriatric population are the major driving factors for the segment growth. For instance, as per the National Center for Biotechnology Information (NCBI) in 2016, in western countries, the incidence rate of diabetic foot ulcers is around 2.0% every year.

End-use Insights

Based on end-use, the hospital segment dominated the market for advanced wound care and accounted for the largest revenue share of 45.1% in 2020. This can be attributed to increasing cases of diabetic foot ulcers and venous leg ulcers. In addition, increasing cases of surgical wounds due to the rising number of surgeries is also driving the segment. Advanced wound care dressings are generally used for healing SSI wounds. Thus, such factors may surge the growth of the segment over the forecast period.

The home healthcare segment is anticipated to witness the fastest growth over the forecast period. The growth of the segment is attributable to the rising demand for reduced hospital-stay and prolonged recovery period of chronic injuries, which requires frequent change of wound dressings. Moreover, geriatric and bariatric population and patients suffering from chronic injuries prefer homecare over hospital stay.

Regional Insights

North America dominated the advanced wound care market and accounted for the largest revenue share of 45.3% in 2020. This dominance can be attributed to factors such as increasing road accidents, sports injuries, and the presence of several key players in the region. In addition, the presence of adequate skilled professionals and highly developed healthcare infrastructure is also expected to drive the market for advanced wound care over the forecast period.

In Asia Pacific, the market for advanced wound care is anticipated to witness the fastest growth over the forecast period. The presence of developing countries such as China, Japan, and India is anticipated to boost the market growth in the region. In addition, key players are making a constant effort to penetrate into the untapped areas of Asia Pacific, which, in turn, is anticipated to drive the market for advanced wound care in the region over the forecast period.

Key Companies & Market Share Insights

Key players are involved in adopting strategies such as mergers and acquisitions, partnerships, and launching new products to strengthen their foothold in the market for advanced wound care. For instance, in April 2019, Smith and Nephew PLC acquired Osiris Therapeutics, Inc., with an aim to accelerate the development of its advanced wound management product portfolio. The initiative was anticipated to expand its customer base. Some of the prominent players in the advanced wound care market include:

• Smith & Nephew PLC

• Molnlycke Health Care AB

• Acelity

• ConvaTec Group PLC

• Baxter

• Coloplast Corporation

• Medtronic

• 3M

• Derma Sciences Inc. (Integra LifeSciences)

• Medline Industries, Inc.

Advanced Wound Care Market Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2028. For the purpose of this study, Grand View Research has segmented the global advanced wound care market report on the basis of product, application, end-use, and region:

• Product Outlook (Revenue, USD Million, 2016 - 2028)

  • Moist Wound Care

    • Foam Dressings

    • Hydrocolloid Dressings

    • Film Dressings

    • Alginate Dressings

    • Hydrogel Dressings

    • Collagen Dressings

    • Other Advanced Dressings

  • Antimicrobial Wound Care

    • Silver

    • Non-silver

  • Active Wound Care

    • Biomaterials

    • Skin Substitute

• End-use Outlook (Revenue, USD Million, 2016 - 2028)

  • Hospitals

  • Specialty Clinics

  • Home Healthcare

  • Others

• Application Outlook (Revenue, USD Million, 2016 - 2028)

  • Chronic Wounds

    • Diabetic Foot Ulcers

    • Pressure Ulcers

    • Venous Leg Ulcers

    • Others

  • Acute Wounds

    • Surgical and Traumatic Wounds

    • Burns

• Regional Outlook (Revenue, USD Million, 2016 - 2028)

  • North America

    • U.S.

    • Canada

  • Europe

    • Germany

    • U.K.

    • France

    • Italy

    • Netherlands

    • Sweden

    • Spain

  • Asia Pacific

    • Japan

    • China

    • India

    • Australia

    • South Korea

    • Taiwan

    • Vietnam

  • Latin America

    • Brazil

    • Mexico

  • Middle East & Africa (MEA)

    • South Africa

    • Saudi Arabia