Portland, OR, Sept. 15, 2020 (GLOBE NEWSWIRE) -- According to the report published, the advanced wound care market size was valued at $9.25 billion in 2019, and is estimated to reach at $15.30 billion by 2027, registering a CAGR of 11.6% from 2020 to 2027. The report provides a thorough analysis of changing market trends, key investment pockets, major segments, value chains, and leading market players.
Surge in geriatric population, increase in number of incidences regarding obesity, diabetes, and chronic conditions, and technological advancements to deal with complex wounds augment the growth of the advanced wound care market. However, high cost of advanced wound care products hampers the market growth. Moreover, untapped prospects in developing regions are expected to provide new growth opportunities for the market players in the near future.
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Covid-19 scenario:
- The spread of Covid-19 has majorly interrupted the processes in health care services, due to the redeployment of doctors for treating Covid-19 patients.
- On the other hand, the demand for advanced wound care would grow during the pandemic as patients with multiple comorbidities may have an increased risk of getting infected from the corona virus.
The advanced wound care market is segmented on the basis of product, application, end user, and region. Based on product, the therapy devices segment contributed to the largest share in 2019, accounting for more than one-third of the advanced wound care market. On the other hand, the active wound care segment is estimated to portray the highest CAGR of 16.6% during the forecast period. The report also analyzes segments including infection management and exudate management.
Based on application, the chronic wounds segment accounted for the largest share in 2019, holding more than two-thirds of the advanced wound care market, and is expected to maintain the largest share throughout the forecast period. In addition, the segment is expected to register the highest CAGR of 12.1% from 2020 to 2027. The studies also includes acute wound segment.
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Based on region, the report has been analyzed across regions including Asia-Pacific, North America, Europe, and LAMEA. The North America region contributed to the highest market share in 2019, accounting for more than one-fourth of the global advanced wound care market. On the other hand, the region across Asia-Pacific is anticipated to manifest the fastest CAGR of 14.0% during the forecast period.
The key market players in the report include 3M (Acelity Inc.), Adynxx, Inc., B Braun Melsungen AG, Coloplast A/S, ConvaTec Group plc , Essity AB (BSN Medical GmbH), Integra Lifesciences (Derma sciences), Investor AB (Mölnlycke Health Care AB), Johnson & Johnson, Medline Industries, Inc., Medtronic plc., Organogenesis Holdings Inc., and Smith & Nephew Plc.
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