Pune, India, April 07, 2021 (GLOBE NEWSWIRE) --
The global advanced wound care market size is projected to register substantial growth during the forecast period as the frequency of chronic wounds, acute wounds, diabetic foot ulcers, and venous leg ulcers has been increasing the demand for advanced wound care products. The sphere of wound care is progressing rapidly as innovative technologies are constantly being introduced worldwide.
The COVID-19 pandemic is expected to have a minimal impact on the overall pace of the market, with the need to manage surgical wounds and traumatic wounds rising considerably.
The following seven trends are powering the global advanced wound care industry outlook:
Growing need to manage diabetic wounds in Europe
The diabetic wounds segment accounted for over 14.4% of the overall Europe advanced wound care market share during 2020. The wounds of diabetic patients heal at a slower pace than non-diabetic individuals, owing to which it is crucial to address their wounds immediately. Foot ulcers among these patients have been creating substantial demand for advanced wound care therapies as clinicians have been promoting their adoption.
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German industry to exhibit constant demand
The spiraling prevalence of chronic wounds, alongside the preference for latest medical technologies amongst the population has been enabling the proliferation of the German industry for advanced wound care products. The segment emerged at the forefront in the overall Europe market, claiming more than 24.4% share during 2020.
The growing number of surgeries owing to greater frequency of accidents, improved healthcare infrastructure, and increasing number of public and private initiatives in the domain of wound care management are some key growth drivers of the German market.
Prevalence of pressure wounds in North America
The surging frequency of pressure wounds such as bed sores and pressure ulcers is one of the prime factors driving North America advanced wound care market size. During 2020, the pressure wounds segment contributed over $440 million in terms of revenue in the region.
Since pressure wounds are associated with longer hospital stays, they need to be managed more efficiently. The Agency for Healthcare Research & Quality (AHRQ) found that nearly 2.5 million U.S. residents suffer from pressure ulcers annually.
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Canadian market to focus on product development
The Canadian market for advanced wound care solutions is slated to grow at a promising 4.5% CAGR through the forecast timeframe, accelerated by the expanding demand for innovative wound care products and services. Since the development of better products can mitigate the risk of persistent issues, the government is focusing on product development by supporting research initiatives.
For example, the Canadian Association of Wound Care has been engaging in a collaborative and interdisciplinary approach for managing and preventing wounds. The growing incidence of trauma injuries and burns has been responsible for the hike in the product demand.
Rising incidence of venous leg ulcers in Asia Pacific
Asia Pacific advanced wound care market share is expected to gain from the rising frequency of venous leg ulcers, a chronic sore on the legs which typically requires more than 4 to 6 weeks for healing. Proper care and management of the wound is a prerequisite for faster healing of these ulcers. On account of the necessity for advanced wound management techniques for this condition, the segment accounted for over 14.5% of the regional market share during 2020.
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High risk of skin burns in Asia
Owing to the high frequency of fire accidents in the region, the incidence of low-risk and high-risk skin burns has been displaying a rising curve. The skin burns segment accounted for over 25% of the total APAC advanced wound care industry share during 2020 and is poised for further growth. Skin burns need to be addressed on an emergency basis as critical care is vital in preventing complications.
As per the data of the World Health Organization (WHO), more than 1 million cases are reported annually in India alone. This has highlighted the need for better wound management facilities especially in low-income countries, creating opportunities for the market forecast. The governments of Asian countries have been investing in healthcare to ensure timely and effective dressings such as soft cloth dressings, absorbent acrylic dressings, foam adhesive dressings, no sting barrier films, surgical tapes, and skin closures.
Improved healthcare facilities in India
The Indian market for advanced wound care has been demonstrating considerable growth since the last few years and might represent a significant chunk of the industry share by 2027. Growing at a 6.4% CAGR through the coming years, Indian market is picking pace in terms of demand owing to the improving healthcare facilities across the rural and urban areas. An increase in the geriatric population, who is more susceptible to chronic conditions such as diabetes, is also generating high demand for enhanced wound management.
3M, Integra LifeSciences, Medtronic, Smith & Nephew, Lohmann & Rauscher, B. Braun, ConvaTec Group, Coloplast, Hollister Incorporated, and Medline Industries are some leading providers of advanced wound care management solutions in the global market.
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