San Francisco, 30 January 2030: The 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

The global advanced wound care market size is expected to reach USD 14.87 billion by 2030, expanding at a CAGR of 4.75% from 2024 to 2030, according to a new report by Grand View Research, Inc. Growth in the number of the aging population as well as an increasing figure of diabetic patients are some major factors driving this market’s growth.

For instance, as per a United Health Foundation report (published in May 2023), more than 55.8 million adults aged 65 and older lived in the U.S., accounting for about 16.8% of the nation's population in 2021, increasing the number of senior populations is anticipated to propel the market during the forecast period.

There has been growth in the number of surgical procedures, and traumatic incidents globally. For instance, as per a study by Research Gate, in 2022, around 6.6% of mortality occurs due to trauma every year. Similarly, there has been an increase in the number of surgical site infections. Advanced wound care products help to contain and reduce these surgical site infections, thereby, an increase in the number of surgical site infections is expected to drive the market during the forecast period.

The introduction of the COVID-19 vaccine, and the lifting of lockdown impositions, are expected to have a positive impact on the market over the forecast period. Many elective surgeries, which were postponed, are expected to take place. In addition to this, many leading manufacturers are introducing new products which may help them to capitalize on the increasing demand for advanced wound care products during the forecast period.

The increasing number of surgeries, the augmenting number of road accidents, trauma cases & burns, and the introduction of innovative & advanced wound products are some of the factors driving market growth. In addition, the rising prevalence of chronic diseases that affect wound healing capabilities further elevates the demand for advanced wound products. Moreover, the growing geriatric population is expected to propel market growth, as the geriatric population has slow healing capabilities.

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According to the United Nations Population Fund’s India Ageing Report 2023, the population over 60 is likely to increase from 14.9 crores in 2022 to 34.7 crores by 2050, which is expected to propel market growth. People with diabetic foot ulcers (DFU) are at a high risk of lower-extremity amputation. As per a ScienceDirect article, diabetic foot ulcers may affect more than 25.0% of the diabetic population and may result in amputation in 20.0% of patients. However, advanced wound care products help cure diabetic foot ulcers, which are prevalent in diabetic patients. Thus, an increasing number of diabetic patients is expected to elevate the use of advanced wound care products. These products especially help in moisture retention and facilitate rapid internal and external wound healing. Furthermore, these products help in the absorption of necrotic tissues, which are effective in surgical site infections. Hence, healthcare professionals prefer to use advanced wound care products, which is anticipated to propel global wound care market growth over the forecast period.

Advanced Wound Care Market Report Highlights

• Based on product, the moist wound care segment led the market with the largest revenue share of 70.88% in 2023. This dominance can be attributed to an increase in a number of wound cases and increase in number of surgeries globally.
• In terms of application, the chronic wounds segment is dominate the market with the largest revenue share in 2023. Increasing number of diabetic foot ulcers, venous pressure ulcers, and other chronic wounds is expected to drive the segment growth.
• Based on end-use, the hospital segment held the market with the largest revenue share of 45.31% in 2023. The growth of this segment can be attributed to the upsurge in surgical procedures and increase in the number of hospital admissions.
• North America dominated the market with the revenue share of 45.46% in 2023. This dominance can be attributed to well-developed healthcare infrastructure and increase in the number of surgical procedures.
• Asia Pacific is anticipated to witness significant CAGR during the forecast period. This can be attributed to the presence of major key players, the increasing prevalence of chronic disorders, and rising healthcare expenditure.

The COVID-19 pandemic significantly impacted the advanced wound care market. The industry experienced a dip in the demand for advanced wound care products as many hospitals and clinics had to postpone elective surgeries, affecting market growth. Moreover, the outbreak created large-scale opportunities for local manufacturers.

However, the market experienced lucrative growth post-pandemic. Many companies underwent new product launches and mergers and acquisitions, further increasing their product portfolio. For instance, in April 2023, 30 Technology Limited’s anti-infective nitric oxide technology platform was acquired by the Convatec Group PLC, encompassing all chronic & acute wound care assets, research & development, and commercial applications of the technology.

Advanced Wound Care Market Report Scope

The advanced wound care market is likewise under more regulatory inspection. This is because concerns exist regarding the effectiveness, safety, and quality of medical devices for patients. Stringent regulations raise the cost of existing items, creating entry barriers. For instance, prior to approving a new product, FDA guidelines demand rigorous clinical trials that is a costly affair and take several years to complete, as a result making it difficult for smaller businesses to enter the market. These new regulations may significantly impact the advanced wound care market.

Advanced wound care solutions have several alternatives, such as home remedies, traditional wound dressings and other medical treatments. While home remedies and traditional wound dressings may provide temporary relief, they may not be sufficient for proper wound healing in some cases. Moreover, market players are continuously investing appropriate resources in clinical trials and working around regulatory submissions to obtain required regulatory approval for pipeline products.