Advanced Wound Care Market Size, Share & Trends Report

Advanced Wound Care Market Size, Share & Trends Analysis Report By Product (Moist, Antimicrobial, Active), By Application (Chronic Wounds, Acute Wounds), By End-use, By Region, And Segment Forecasts, 2024 - 2030

  • Report ID: GVR-4-68038-186-3
  • Number of Pages: 120
  • Format: Electronic (PDF)
  • Historical Range: 2018 - 2022
  • Industry: Healthcare

Research Methodology

A three-pronged approach was followed for deducing the advanced wound care market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for advanced wound care market to gather the most reliable and current information possible.

  • We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
  • We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
  • We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
  • We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
  • We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of advanced wound care market data depending on the type of information we’re trying to uncover in our research.

  • Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

  • Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

  • Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

  • Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

  • Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

  • Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

  • This step also entails the finalization of the report scope and data representation pattern.

  • Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Advanced Wound Care Market Market Categorization:

The advanced wound care market was categorized into four segments, namely product (Moist, Antimicrobial,  Active), application (Chronic Wounds, Acute Wounds), end-use (Hospitals, Specialty Clinics, Home Healthcare), and regions (North America, Europe, Asia Pacific, Latin America, Middle East & Africa).

Segment Market Methodology:

The advanced wound care market was segmented into product, application, end-use, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

  • Demand estimation of each product across countries/regions summed up to from the total market.

  • Variable analysis for demand forecast.

  • Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

  • Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

  • Used extensively for new product forecasting or analyzing penetration levels.

  • Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

  • Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

  • This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The advanced wound care market was analyzed at a regional level. The global was divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into twenty-two countries, namely, U.S.; Canada; U.K.; Germany; France; Italy; Netherlands; Spain; Sweden; Japan; China; India; South Korea; Taiwan; Australia; Vietnam; Brazil; Mexico; South Africa; Saudi Arabia: UAE: Kuwait

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Advanced wound care market companies & financials:

The advanced wound care market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

  • Smith & Nephew is a medical technology company engaged in developing, manufacturing, marketing, and selling services & medical devices. The company provides its services in Orthopedics, Sports Medicine & ENT, and Advanced Wound Care Management. The Sports Medicine Joint Repair segment offers surgeons a range of technologies, instruments, and implants, which are necessary to perform minimal invasive surgery of knee, shoulder, and hip. The Arthroscopic Enabling Technologies portfolio of the company includes devices required for minimal invasive surgery. The Trauma & Extremities segment helps healthcare professionals stabilize severe bone deformities, fractures, and treat arthritis & soft tissue complications. Under Wound Care Management segment, the company offers products for treatment of chronic and acute wounds, including diabetic ulcers, leg, burns, and postoperative wounds. Currently, the company operates in 100+ countries, including South Asian countries such as Indonesia, Thailand, Singapore, Philippines, Malaysia, Maldives, India, and China.
  • Mölnlycke Health Care AB is a medical solutions company. The company manufactures single-use wound and surgical care products. It designs & supplies medical solutions for use in pressure ulcers, infection prevention, and wound treatment, which includes custom procedure trays, antiseptics, dental products, surgical gloves, surgical drapes, orthopedic products, dermatology products, and staff clothing. The company aims to improve its performance in healthcare by enhancing economic and clinical health outcomes. Currently, the company provides its products in 100+ countries and has manufacturing units in more than 40 countries. It has its regional sales offices in Singapore, Malaysia, and Thailand in the South Asian market.            
  • Convatec Group plc develops and manufactures medical devices & technologies for the management of chronic & acute conditions globally. The company offers products for advanced wound care, continence & critical care, and ostomy care, as well as infusion devices. ConvaTec provides a range of products in the areas of infection prevention, continence care, ostomy care, wound therapeutics, infusion devices, and critical care products, used for the treatment of diabetes and other conditions. It has manufacturing sites in eight countries and a distribution network that spans over 100 countries. Its major segments in wound therapy are acute or chronic wound management, traumatic wounds, burns, postoperative, diabetes, and venous diseases.
  • Baxter manufactures and distributes products & technologies related to infectious diseases, kidney disease, hemophilia, immune disorders, trauma, and other chronic & acute medical conditions. It offers products in segments such as pharmaceuticals, clinical nutrition, renal care, medication delivery, advanced surgery, and acute therapies. The company manufactures IV bags & related products for hospitals, which are used to deliver drugs & fluids, including parenteral nutrition, surgical care, and IV infusion pumps & administration kits. Its renal segment caters to the needs of individuals with kidney diseases and healthcare providers. This segment offers peritoneal dialysis, hemodialysis, and additional dialysis therapies & services. Baxter also specializes in medical devices, pharmacy automation, anesthetics, and bio-surgery & wound care solutions. The company has a global presence and operates primarily in the U.S., Asia Pacific, Europe, and MEA.    
  • Urgo Medical is a medical device manufacturing & distributing company, which specializes in advanced wound care, wound management solutions, neurotechnology, and consumer healthcare. The company is a part of the medical division of Laboratoires Urgo and majorly markets four brands: Humex, Alvityl, Mercurochrome, and Juvamine. The company has direct presence in South Asian countries such as Thailand, Malaysia, Vietnam, China, and India. Moreover, it has industrial sites in India and Thailand, along with a regional office in Thailand. Currently, the company has 10 industrial plants in the world and is present in 60+ countries.
  • Coloplast Corp. is a Denmark-based healthcare products and services company. It has a distribution network spread across 53 countries. It caters to ostomy, urology, continence, wound care, and skin care verticals. The company primarily supplies its products to hospitals, pharmacies, wholesalers, and institutions. It also provides surgical devices for severe medical conditions, such as kidney stones, urinary incontinence, and enlarged prostate. Key Coloplast brands are Assura, InterDry, Titan, Aris, Self-Cath, Biatain, Freedom Cath, and SenSura. Most of the company’s production takes place at central facilities in China, France, Germany, Denmark, Hungary, and the U.S.    
  • 3M develops, manufactures, and markets a range of products and services. The company functions across four reportable segments: transportation & electronics; safety & industrial; healthcare; and consumer. Its healthcare segment includes products and services such as skin health & infection prevention products, oral care solutions, medical tapes & dressings, wound closure products, orthopedic casing materials, and transdermal drug delivery systems. 3M has about 75 manufacturing plants in the U.S. and operates around 110 manufacturing & converting facilities in roughly 35 other countries. Its healthcare segment includes medical and surgical care.
  • Integra LifeSciences is the parent organization of Derma Sciences, Inc., which is a tissue regeneration company involved in research and innovation related to chronic & acute wound care management and burns. Integra provides wound management products for venous leg ulcers, pressure ulcers & burns, and diabetic foot ulcers. It adopts various technologies in wound management and wound closure products, such as AmnioExcel Amniotic Allograft Membrane, AmnioExcel Plus Placental Allograft Membrane, and MediHoney.
  • Medline Industries is a privately owned manufacturer and distributor of medical supplies. The company has more than 1,200 direct sales representatives and operates in more than 90 countries. It operates in medical equipment, product services, specialty products, and consumer segments.
  • Medtronic is a health solutions company engaged in the development, manufacturing, distribution, and commercialization of device-based medical therapies & services. It operates through four reporting segments: minimally invasive therapies, cardiac & vascular, restorative therapies, and diabetes. The minimally invasive therapies segment includes products such as mesh fixation devices & hardware instruments and surgical products, including vessel sealing instruments, wound closure, stapling devices, electro-surgery products, and mesh implants. Its neurological segment offers infusion therapies, neurostimulation, and drug pumps for chronic pain. Its products include neurovascular stents, coils, and flow diversion products, as well as access & delivery products to support neuro procedures. The company has a global presence and operates from more than 370 locations in approximately 160 countries around the world. Its products are used mainly in surgery centers, hospitals, home care, and long-term care facilities.

Value chain-based sizing & forecasting

Supply Side Estimates

  • Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

  • Segment revenue determination via variable analysis and penetration modeling.

  • Competitive benchmarking to identify market leaders and their collective revenue shares.

  • Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

  • Identifying parent markets and ancillary markets

  • Segment penetration analysis to obtain pertinent

  • revenue/volume

  • Heuristic forecasting with the help of subject matter experts

  • Forecasting via variable analysis

Advanced Wound Care Market Market Report Objectives:

  • Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

  • Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

  • Understanding market estimates and forecasts (with the base year as 2023, historic information from 2018 to 2022, and forecast from 2024 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Advanced Wound Care Market Market Report Assumptions:

  • The report provides market value for the base year 2023 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

  • The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

  • We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

  • All market estimates and forecasts have been validated through primary interviews with the key industry participants.

  • Inflation has not been accounted for to estimate and forecast the market.

  • Numbers may not add up due to rounding off.

  • Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

  • Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

  • Latin America includes Central American countries and the South American continent

  • Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

  • Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

  • Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.

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