According to a market research report, "Advanced Wound Care Market by Product (Dressings (Foam, Hydrocolloid, Film, Alginate), NPWT, Debridement Devices, Grafts, Matrices, Topical Agents), Wound Type (Surgical, Traumatic, Ulcers, Burns), End User (Hospital, Homecare) - Global Forecast to 2026", The global advanced wound care market is projected to reach USD 12.8 billion by 2026 from USD 9.4 billion in 2021, at a CAGR of 6.2%. The increasing spending on chronic wounds, growing prevalence of diseases & conditions affecting wound healing capabilities, and technological advancements are among the major factors propelling the growth of this market.
The dressings segment accounted for the largest share of the advanced wound care market, by product segment, in 2020
Based on products, the advanced wound care market is segmented into dressings, devices & accessories, grafts & matrices, and topical agents. The dressings segment accounted for the largest share of the advanced wound care market in 2020. Factors such as the growing prevalence of chronic, surgical, and traumatic wounds; rising incidence of burn injuries; and technological advancements in dressings are boosting the market growth of this segment.
Surgical & traumatic wounds segment to register the highest growth rate during the forecast period
The advanced wound care market has been segmented into surgical & traumatic wounds, diabetic foot ulcers, pressure ulcers, venous leg ulcers, and burns & other wounds. In 2020, the surgical & traumatic wounds segment accounted for the highest growth rate.
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Physical health conditions, such as acute wounds, chronic wounds, and surgical wounds, have a negative effect on wound healing. The prevalence of acute, chronic, and surgical wounds has increased significantly over the past decade, primarily due to the growing global geriatric population, rising traumatic wounds, increasing number of surgeries, and the increasing prevalence of conditions like obesity and diabetes.
Diabetes and obesity can increase the overall incidence and complexity of wounds such as infections, ulcerations (leg or foot ulcers), and chronic wounds, which require treatments (advanced wound management) and incur exorbitant medical expenses.
Generally, abscesses can be drained by incisions. As incisions on the plantar surface heal slowly, this leads to a lengthier period of immobilization. This will stimulate the demand for advanced wound management for drainage and faster healing of wounds, which will boost the demand for advanced wound care products.
The large share of this region can be attributed to the increasing demand for advanced wound treatment options like advanced wound care products, the highly developed healthcare system in the US and Canada, and increasing prevalence of chronic disorders.
The major players operating in this market are 3M Company (US), Smith & Nephew plc (UK), ConvaTec Group Plc (UK), Coloplast A/S (Denmark), Mölnlycke Health Care AB (Sweden), Integra LifeSciences Holdings Corporation (US), PAUL HARTMANN AG (Germany), B. Braun Melsungen AG (Germany), Cardinal Health, Inc. (US), Organogenesis Holdings Inc. (US), Misonix, Inc. (US), MiMedx Group, Inc. (US), Zimmer Biomet Holdings, Inc. (US).