Advanced Wound Care Management Market - By Product (Infection Management, Exudate Management, Active Wound Care, and Therapy Devices), Application (Chronic Wounds and Acute Wounds), By End User (Hospitals and Community Health Service Centers) Global Opportunity Analysis and Industry Forecast, 2020 – 2030

Advanced Wound Care Management Market held USD 10310.8 million in 2020 and is to grow with a CAGR of 11.4% from 2020-2030. Wound treatment is divided into two groups, for example conventional care and advanced care (AWC). Advanced wound care products are designed for treating acute & chronic wounds. Additionally, chronic wounds take longer to heal, and are costly to treat. Advanced wound care is developing as a standard treatment solution for chronic wounds. Due to their efficiency & effectiveness in managing wounds, traditional wound care products are increasingly being replaced by advanced wound care products by allowing for faster healing. In addition, their advantages include maintaining a hydrated environment, maintaining a consistent temperature, allowing oxygen flow, protecting the site from exogenous infection and lessening pain.

Market Dynamics and Factors:

Advanced wound care management market growth is fueling significantly on account of increased prevalence of chronic disorders such as diabetes and obesity, increased geriatric population, technological progress, problems associated with old wound healing methods and an increase in the number of evidentiary treatments used for chronic injuries. Additional factors contributing to the growth of the advanced wound care management market share are increased awareness programs for advanced wound care management, efforts to reduce hospital duration to lower health costs and an increased inclination for wound care supplements that improve therapeutic outcomes. Nevertheless, advanced wound care products are costly, which might restrain market size to some extent.

Market Segmentation:

Based on the product, the advanced wound care management market trends is segmented into active wound care, infection management, exudate management, and therapy devices. On the basis of application, the advanced wound care management industry growth is segmented into chronic wounds and acute wounds. Based on end-user, the market is segmented into community health service centers and hospitals. Geographical breakdown  of each of the aforementioned segments in the Advanced Wound Care Management market includes regions comprising North America, Europe, Asia-Pacific, and RoW.

Geographic Analysis:

North America is expected to dominate the advanced wound care management market demand due to growing government focus and development in medical infrastructure. The growth of the advanced wound care management market in Asia Pacific in the forecast period is anticipated to be triggered by increased drug approvals by regulatory boards. For example, Axio Biosolutions in February 2018 were issued clearance by U.S. FDA for 100 percent chitosan hemostatic dressing, Axiostat, to stop external bleeding. The product has been proven to be a unique first aid dressing that stops unstoppable bleeding even in 2-3 minutes after use. "Axiostat" is a wound dressing made from chitosan, a polymer found in shellfish 'India's first trauma hemostat.

Competitive Scenario:

Global advanced wound care management market, is witnessing fierce competition, consisting of a few major players. Currently, there are only few players which hold a chunk of major market share. Key companies are also expanding their manufacturing facilities to cater to growing demand for this drug globally. Key players enhancing the global advanced wound care management market size include Medtronic, Leap Therapeutics, 3M Company, Coloplast, Johnson and Johnson, Baxter International, Kinetic Concepts, Integra Life Sciences, and Hematris Wound Care GmbH.

Advanced Wound Care Management Market Report Scope