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Advanced Wound Care Market Size, Share and Industry Analysis, By Product (Advanced Wound Dressings, Wound Care Devices & Active Wound Care), By Indication (Diabetic Foot Ulcers, Pressure Ulcers, Surgical Wounds, Others), By End User, and Regional Forecast 2018-2025

Region : Global | Published Date: Oct, 2019 | Report ID: FBI100060| Status : Published

 

KEY INDUSTRY INSIGHTS

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The global advanced wound care market size was valued at USD 9,273.3 Million in 2017 and is projected to reach USD 13,450.0 Million by 2025, exhibiting a CAGR of 4.8% in the forecast period.


The increasing prevalence of chronic diseases such as diabetes, cancer, and other conditions is presenting a large patient pool suffering from comorbidities such as diabetic foot ulcers and other chronic wounds. There is an increasing number of patients undergoing surgical procedures globally, which is leading to an increasing number of patient pool suffering from surgical wounds. This, along with increasing hospitalization stay and aging population leading to decreased mobility among elderly patients, are some of the factors presenting large patient pool suffering from pressure ulcers globally.


There is an ever-increasing economic cost burden for the treatment of chronic wounds being exerted on national governments and a bid to reduce the economic cost burden is demanding innovative and advanced wound care products in the global market.


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Market SEGMENTATION


"Launch of Innovative and Advanced Dressings is Propelling Growth of the Advanced Wound Dressings Segment " 


Increased focus of market players on R&D, combined with increasing per capita healthcare spending in emerging countries, and implementation of reimbursement policies for advanced wound care products are factors driving the growth of the global advanced wound dressings market. The active wound care product type accounted for 14.7% of the advanced wound care market share in 2017.


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On the basis of indication, the global advanced wound care market segments include pressure ulcers, diabetic foot ulcers, surgical wounds, and others. Higher prevalence of diabetes globally and lower diagnosis rate of diabetic foot ulcers are some of the major factors responsible for a higher share of the diabetic foot ulcers segment in the global market.


On the basis of end-user, the global advanced wound care market segments include hospitals, clinics, homecare settings, and others. The home care settings segment is projected to register a comparatively higher CAGR from 2018-2025.


Regional Analysis


"Higher Prevalence of Diabetic Foot Ulcers and Increasing Penetration of Global Players is Propelling the Growth of the Market in Asia Pacific "


Comparatively higher prevalence of diabetes in Asia Pacific is leading to an increasing number of patients suffering from diabetic foot ulcers. This, along with increasing per capita healthcare spending in the region, and increasing number of market players entering the lucrative market with innovative product offerings, is projected to drive the comparatively higher growth of the market in Asia Pacific during the forecast period.


North America Advanced Wound Care Market Share, 2017

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Higher cost of care for treatment of diabetic foot ulcers, pressure ulcers, and surgical wounds in the U.S., combined with adequate reimbursement policies in the country, are factors which dominated the global market in North America in 2017.


The region generated an advanced wound care market revenue of USD 3,874.4 Million in 2017 and is expected to remain dominant throughout the forecast period. Europe accounted for the second largest share in the advanced wound care market. The market in Middle East & Africa, and Latin America accounted for a comparatively small share of the market in 2017.


Key Market Players


"Presence of a Strong and Innovative Portfolio for Wound Care Dressings & Devices has Propelled Smith & Nephew, ConvaTec Inc., and KCI Licensing Inc., to Lead the Global Market."


The current global advanced wound care market is consolidated owing to the remarkable distribution network of major companies in emerging economies. Currently, Smith & Nephew, ConvaTec, Inc., and KCI Licensing Inc. lead the market, accounting for maximum share in 2017.


However, lack of strong barriers to entry is projected to lead to an increasing number of domestic players entering the global market. This is projected to lead to a slightly fragmented market by 2025. Other players operating in the global advanced wound care market are MiMedx, Coloplast Corp, Derma Sciences Inc., Tissue Regenix, Mölnlycke Health Care AB, and Organogenesis Inc., among others.


List of Companies Profiled



  • MiMedx

  • Derma Sciences Inc.

  • Coloplast Corp

  • ConvaTec Inc.

  • Tissue Regenix

  • Mölnlycke Health Care AB

  • Smith & Nephew

  • Organogenesis Inc.

  • KCI Licensing, Inc

  • Other Prominent Players


Report Coverage


An increasing number of new approvals for products such as growth factors, biological skin equivalents, and wound care devices including extracorporeal shock wave therapy devices, are factors leading to increasing demand for new and advanced wound care products in the global market. Various manufacturers are also focusing on innovating their product portfolio in the advanced wound dressings segment, leading to increasing competition in the segment and higher penetration of products in emerging countries. However, lack of established clinical efficiency of advanced wound dressings in the treatment of wounds is hindering the growth of the global advanced wound care market.


The report provides qualitative and quantitative insights on advanced wound care industry trends and detailed analysis of market size & growth rate for all possible segments in the market. The market is segmented as per product type, indication, and end user. On the basis of product type, the global advanced wound care market is further segmented into advanced wound care devices and active wound care products.


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On the basis of indication, the global wound care devices market is segmented into pressure ulcers, diabetic foot ulcers, surgical wounds, and others. On the basis of end-user, the global advanced wound care market is segmented into hospitals, clinics, home care settings, and others. Geographically, the market is segmented into five major regions, which are North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The regions are further categorized into countries.


Along with this, the report analysis includes market dynamics and competitive landscape. Additionally, the report offers insights on the prevalence of key disease indications (diabetic foot ulcers, pressure ulcers, surgical wounds etc.) for key countries/region, recent industry developments such as partnerships, mergers & acquisitions, regulatory framework by key countries, global reimbursement scenario, and economic cost burden for treatment of chronic wounds by key countries/ region.


SEGMENTATION


























  ATTRIBUTE


  DETAILS

By Product




  • Advanced Wound Dressings

    • Alginate Dressings

    • Hydrogel Dressings

    • Film Dressings

    • Hydrocolloid Dressings

    • Antimicrobial Dressings

    • Foam Dressings

    • Others



  • Wound Care Devices

    • Negative Pressure Wound Therapy (NPWT)

    • Hyperbaric Oxygen Therapy (HBOT)

    • Extracorporeal Shock Wave Therapy (ESWT)

    • Others (compression therapy, etc.)



  • Active Wound Care

    • Biological Skin Equivalents

    • Growth Factors

    • Biological Dressings

    • Others





By Indication




  • Diabetic Foot Ulcers

  • Pressure Ulcers

  • Surgical Wounds

  • Others



By End User




  • Hospitals

  • Clinics

  • Homecare Settings

  • Others



By Geography




  • North America (USA and Canada)

  • Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)

  • Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)

  • Latin America (Brazil, Mexico and Rest of Latin America)

  • Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)



Key Industry Developments



  • In June 2019, UPM launched a new advanced wound care product for the European market. FibDex is the first wound dressing created from wood-based nanofibrillar cellulose to receive regulatory approval and to be awarded a CE mark.

  • In February 2019, Axio Biosolutions has launched MaxioCel, a next generation wound care dressing made of chitosan.

  • In February 2019, GEMCO Medical, launched addition of the GEMCORE360 brand of advanced wound care products.


Frequently Asked Questions

Fortune Business Insights says that the value of the global advanced wound care market was USD 9,273.3 Million in 2017

The advanced wound care market is projected to reach USD 13,450.0 Million by 2025.

The advanced wound care market will grow at a rate of 4.8% CAGR.

Advanced Wound Care Market Size, Share and Global Industry Trend Forecast till 2026
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