Advanced Wound Care Market Size Worth USD 20.42 Billion by 2027

The global Advanced Wound Care Market is expected to reach USD 20.42 Billion by 2027, according to a new report by Emergen Research. The increasing prevalence of chronic wounds, such as pressure ulcers, diabetic foot ulcers, and venous leg ulcers, is expected to drive market growth over the forecast period. In addition, the growing geriatric population is prone to various chronic diseases that can lead to chronic wounds.

According to the National Institute of Diabetes and Digestive and Kidney Diseases (NIDDK), around 6.5 million people in the U.S. suffer from chronic wounds. Furthermore, the NIDDK estimates that the annual cost of treating chronic wounds in the U.S. is approximately USD 25 billion.

The increasing prevalence of diabetes is also expected to drive market growth over the forecast period. According to the World Health Organization (WHO), the global prevalence of diabetes was estimated to be around 463 million in 2019 and is expected to reach 578 million by 2030. Diabetes is one of the leading causes of chronic wounds, as it can damage nerves and blood vessels, which can lead to ulcers.

The rising geriatric population and the increasing prevalence of chronic diseases are two major factors that are expected to contribute to the growth of the advanced wound care market during the forecast period. According to the United Nations, people aged 60 years or above are projected to reach 2.1 billion by 2050 from 900 million in 2015.

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It is predicted that the existing and rising cost burden of chronic wounds will positively impact the growth of the global advanced wound care market. An increase in the number of diabetic foot ulcers, venous leg ulcers, and pressure ulcers is expected to fuel the demand for advanced wound care products during the forecast period.

The rising awareness about the available treatment options and growing preference for minimally invasive procedures are expected to have a positive impact on the growth of the global advanced wound care market. The availability of reimbursement policies in developed countries is also projected to support the growth of the market.

Some Key Highlights from the Report

• The wound type segment is expected to register the fastest revenue CAGR during the forecast period due to the rising incidence of pressure ulcers and diabetic foot ulcers. According to the NPUAP (National Pressure Ulcer Advisory Panel), every year, around 2.5 million patients are affected by pressure ulcers in the US alone.
• The moist wound therapy segment is expected to register the fastest revenue CAGR during the forecast period due to the increase in the number of product approvals and launches by key market players. The incidence of chronic wounds is on the rise due to the increasing geriatric population and the rise in diabetes cases globally.
• The Hospitals and Clinics segment is expected to register the fastest revenue CAGR during the forecast period due to the increasing number of hospitals and clinics globally. According to the American Hospital Association, as of 2020, there were 5,459 community hospitals in the United States. Also, according to the World Bank, in 2017, there were around 18,500 hospitals in China.
• The Asia Pacific region is anticipated to witness high growth during the forecast period, due to the increasing geriatric population and rising incidence of diabetes. The presence of a large patient pool and the availability of favorable reimbursement policies are expected to support market growth in this region.
• The North America region is projected to grow at the highest CAGR of 7.3% during the forecast period Advanced wound care market in North America is expected to grow on account of rising prevalence of diabetic foot ulcers and increasing number of surgical procedures. According to National Institute of Diabetes and Digestive and Kidney Diseases (NIDDK) 2017, around 30.3 million people suffer from diabetes in the U.S., out of which around 7.2 million were undiagnosed cases.
• Key participants include Smith & Nephew, Mölnlycke Health Care, B. Braun, ConvaTec Group, Coloplast, Integra LifeSciences, 3M, Cardinal Health, and Lohmann & Rauscher, among others.

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For the purpose of this report, Emergen Research has segmented into the global Advanced Wound Care Market on the basis of product type, wound type, end-user, and region:

Product Type Outlook (Revenue, USD Billion; 2017-2027)

• • Moist Wound Dressings
    1. Foam
    2. Hydrocolloid
    3. Film
    4. Alginate
    5. Hydrogel
    6. Collagen
  • Wound Therapy Devices
    1. Pressure Relief Devices
    2. Negative Pressure Wound Therapy Systems
    3. Hyperbaric Oxygen Equipment
    4. Electrical Stimulation Devices
    5. Other Wound Therapy Devices
  • Active Wound Care
    1. Artificial Skin and Substitutes
    2. Autografts

Wound Type Outlook (Revenue, USD Billion; 2017-2027)

• Surgical Wounds
• Ulcers
• Burns
• Traumatic Wounds
• Others

End-User Outlook (Revenue, USD Billion; 2017-2027)

• Home Care Settings
• Hospitals and Clinics
• Others

Regional Outlook (Revenue, USD Billion; 2017-2027)

• North America
  1. US.
  2. Canada
• Europe
  1. Germany
  2. UK
  3. France
  4. BENELUX
  5. Rest of Europe
• Asia Pacific
  1. China
  2. Japan
  3. South Korea
  4. Rest of APAC
• Latin America
  1. Brazil
  2. Rest of LATAM
• MEA
  1. Saudi Arabia
  2. UAE
  3. Rest of MEA

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