Pune, March 29, 2022 (GLOBE NEWSWIRE) -- Advanced wound care products are designed to treat acute & chronic wounds. Advanced wound care is developing as a standard solution for treating chronic wounds. Traditional wound care products are being increasingly replaced with advanced wound care products, owing to their efficiency & effectiveness in managing wounds by enabling faster healing. The increase in number of patients undergoing surgeries globally has led to surge in patient population suffering from surgical wounds. A chronic wounds can be classified as wound which fails to progress through the phase of healing in an orderly and timely sequence and shows no significance in improvement time. Whereas, acute wounds heal through the routine process of inflammation, tissue formation and remodelling in short period of time. This wound care products are designed exclusively to treat chronic and acute wounds.
It is estimated by various studies that around 1-2 % population in the developed countries will suffer from chronic wound once in their lifetime. The developing countries present a large pool of patients suffering from chronic wound such as diabetic foot ulcers, pressure ulcers and others. Advanced wound care products help to cure diabetic foot ulcers, which are prevalent in diabetic patients. For instance, according to Science Direct, diabetic foot ulcers may affect more than 25% of the diabetic population and may lead to amputation of the foot in 20% of patients. Thus, an increase in the number of diabetic patients is expected to increase the use of advanced wound care products. These products help in moisture retention and allow rapid healing of wounds internally as well as externally. Moreover, these products help in the absorption of necrotic tissues, which are effective in cases of surgical site infections.
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 suffer excessive medical expenses.
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Advanced wound care products include hydrocolloids, hydrogels, film & foam dressings, alginates, and others. Increasing prevalence of chronic injuries is one of the key factors leading to the rise in demand for advanced wound care products. Some of the major technological advanced products in this field are expected to be commercialized soon. For instance, nanoparticle-based wound healing and skin regeneration bioactive molecules over the applied area, maintain the drug release and specifically improve the therapeutic effects of drugs. Similarly, gene therapy which induces wound healing by introducing normal healthy genes into cells is expected to be commercialized. Thus, with such advancements in advanced wound care products, the market for advanced wound care is expected to propel during the upcoming period.
The Advanced wound care market is segmented on the basis of product, application, end user, and region. By product, the market is segmented into Wound dressing and Wound therapy devices. On the basis of application, the advanced wound care market is divided into chronic wounds and acute wounds. The chronic wounds segment is further divided into pressure ulcers, diabetic foot ulcers, venous leg ulcers, and arterial ulcers. The acute wounds segment is further divided into burns & trauma, and surgical wounds. On the basis of end user, the market is classified into hospitals and community health service centres. Region wise, the market is analysed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, India, Australia, South Korea and rest of Asia-Pacific), Latin America (Brazil, Argentina) Middle-East & Africa (South Africa, Saudi Arabia, and rest of GCC countries).
North America is projected to dominate the advanced wound care market share due to the presence of feasible medical reimbursement policies in Canada and the U.S. Further, the increasing prevalence of acute and chronic wounds and high treatment costs may fuel the product demand. As per the Agency for Healthcare Research and Quality estimations, the medical pressure ulcer management ranges from USD 9.1 to USD 11.6 billion annually. These factors may boost industry development.
In Europe, increasing awareness regarding advanced wound care advantages and robust demand for wound care devices are expected to fuel product sales. In addition, increased medical spending may lead to the growth of the market.
In Asia Pacific, rising per-capita income and significant investment by major players are expected to fuel advanced wound care solutions' adoption. In addition, rapid development of medical facilities in emerging economies may propel the market growth.
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COMPANY PROFILES (Business Overview, Products/Services Offered, Financial Performance, R&D Intensity, Marketing & Sales Intensity, Recent Developments, Analyst Corner)*
- Smith & Nephew
- B.Braun
- ConvaTec Group
- Integra Lifesciences
- 3M
- Cardinal Heatch
- Medtronic
- MPM Medical
- Paul Hartmann
- MiMedx Group
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Key Questions Answered in This Report:
- What is the potential of the Advanced Wound Care Market?
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