Advanced Wound Care Market Size Worth $10.8 Billion by 2030: Grand View Research, Inc.

SAN FRANCISCO, April 11, 2022 /PRNewswire/ -- The global advanced wound care market size is anticipated to reach USD 10.8 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 5.4% from 2022 to 2030. An increase in the aging population and the increasing number of diabetic patients are some major factors driving this market's growth. For instance, according to Administration for Community Living's profile on older Americans, the U.S. population aged 65 and above was estimated to be 54.1 million in 2019, which is about 19% of the U.S. population. This population increased by about 36% from 2009 to 2019 and is projected to reach 80.8 million by 2040, and 94.7 million by 2060. As the elder population is more prone to wounds, an increasing number of elder populations is anticipated to propel the market growth during the forecast period.

Key Insights & Findings from the report:

• Based on product, the moist wound care segment dominated the market and accounted for a revenue share of 59.2% in 2021, owing to an increase in the number of chronic wound patients.
• Based on application, the chronic wound segment is likely to witness the fastest growth during the forecast period, owing to an increase in the number of diabetic foot ulcers globally.
• On the basis of end-use, the hospital segment dominated the market, owing to the increasing number of surgeries among the patients in hospitals. On the other hand, the home healthcare segment is anticipated to witness the fastest CAGR of 6.11% in the forecast period.
• North America dominated the market and accounted for the highest revenue share of 45.2% in 2021 owing to the increasing number of surgical procedures and technological advancements.

Read 90 page market research report, "Advanced Wound Care Market Size, Share & Trends Analysis Report By Product (Moist, Antimicrobial), By Application (Chronic Wounds, Acute Wounds), By End-use (Hospitals, Specialty Clinics, Home Healthcare), By Region, And Segment Forecasts, 2022 - 2030", published by Grand View Research.

Advanced Wound Care Market Growth & Trends

Moreover, there has been an increase in the number of surgical procedures and traumatic incidents globally. For instance, as per a study by ResearchGate, in 2020, 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.

Furthermore, the introduction of the COVID-19 vaccine, and the lifting of lockdown impositions, are expected to have a positive impact on the market in coming years. 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.

Advanced Wound Care Market Segmentation

Grand View Research has segmented the global advanced wound care market on the basis of product, application, end-use, and region:

Advanced Wound Care Product Outlook (Revenue, USD Million, 2018 - 2030)

• Moist
• Foam Dressings
• Hydrocolloid Dressings
• Film Dressings
• Alginate Dressings
• Hydrogel Dressings
• Collagen Dressings
• Other Advanced Dressings
• Antimicrobial
• Silver
• Non-silver
• Active
• Biomaterials
• Skin-substitute

Advanced Wound Care Application Outlook (Revenue, USD Million, 2018 - 2030)

• Chronic Wounds
• Diabetic Foot Ulcers
• Pressure Ulcers
• Venous Leg Ulcers
• Other Chronic Wounds
• Acute Wounds
• Surgical & Traumatic Wounds
• Burns

Advanced Wound Care End-use Outlook (Revenue, USD Million, 2018 - 2030)

• Hospitals
• Specialty Clinics
• Home healthcare
• Others

Advanced Wound Care Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America
• U.S.
• Canada
• Europe
• U.K.
• Germany
• France
• Italy
• Netherlands
• Spain
• Sweden
• Asia Pacific
• Japan
• China
• India
• South Korea
• Taiwan
• Australia
• Vietnam
• Latin America
• Mexico
• Brazil
• Middle East and Africa (MEA)
• South Africa
• Saudi Arabia

List of Key Players of Advanced Wound Care Market

• Smith & Nephew
• Mölnlycke Health Care AB
• ConvaTec Group PLC
• Baxter International
• URGO Medical
• Coloplast Corp.
• Medtronic
• 3M
• Derma Sciences Inc. (Integra LifeSciences)
• Medline Industries

Check out more related studies published by Grand View Research:

• Wound Care Market - The global wound care market is anticipated to reach USD 29.57 billion by 2030, registering a CAGR of 4.12% during the forecast period, according to a new report by Grand View Research, Inc. Increasing number of surgical cases, rapidly ageing population as well as rising number of diabetic patients are among the major factors driving this market's growth. For instance, according to Ageing Asia, as of 2019, more than 139 million people i.e., about 10% of the total population in India were over the age of 60, This is expected to increase up to 19.5% in 2050. Geriatric population are more susceptible to wounds, and thus, increasing number of elder populations, the wound care market is anticipated to propel during the forecast period.
• Wound Closure And Advanced Wound Care Market - The global wound closure and advanced wound care market size is expected to reach USD 1.69 billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 4.5% over the forecast period. Increasing incidence of chronic diseases globally, rising demand for wound dressing products and advanced wound care management, and growing number of sports injuries and road accidents are the key factors driving the market.
• Wound Care Centers Market - The global wound care centers market size is expected to reach USD 49.4 billion by 2026, expanding at a CAGR of 4.5%, according to a new report by Grand View Research, Inc. Growing prevalence of diabetic ulcers on a global scale, along with rising number of sports-related injuries, is expected to drive the market over the forecast period. In addition, growing awareness regarding the use of modernized wound care products is propelling the market.

Browse through Grand View Research's Medical Devices Industry Research Reports.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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