(PharmaNewsWire.Com, September 10, 2024 ) Pune, 10, September 2024: Advance Wound Care Market Size Was Valued at USD 10.7 Billion in 2023, and is Projected to Reach USD 16.2 Billion by 2032, Growing at a CAGR of 4.7 % From 2024-2032. Advanced wound care products, such as film and foam dressings, hydrogels, alginates, and hydrocolloids, manage acute and chronic wounds like ulcers, burns, and post-operative and traumatic wounds. These treatments maintain wound wetness without hindering healing. The chronic wound population can benefit from these products, which are accessible and affordable compared to traditional treatments. The market has expanded due to the popularity of evidence-based treatments, increased accessibility of innovative therapy tools, and the growth of chronic ailments like diabetes and obesity.
Advance Wound Care Market Dynamics
The global geriatric population, increasing traumatic wounds, and rising obesity and diabetes incidences have led to a rise in acute, chronic, and surgical wounds over the past decade. These conditions increase the complexity of wounds, including infections, ulcerations, and chronic ones, necessitating advanced wound management and high medical costs. The market's growth rate is expected to be driven by these factors. Growth in R&D activities Increasing R&D activities and government policies for healthcare infrastructure will provide good opportunities for the growth of the wound care market. In addition, increasing government investment in technological development and increasing demand will increase the growth of the wound care market in the future.
North America is the market leader with a significant revenue share of 45.46% in 2023. This power can be attributed to the developed medical infrastructure and the number of surgeries. For example, according to the American Society of Plastic Surgeons, approximately 23.6 million people in the United States will undergo minor cosmetic surgery in 2023. Therefore, high-quality wound care products are becoming increasingly important to prevent infection at the surgical site. In addition, the increasing incidence of traffic accidents, fires, and accidents across the region is expected to drive the market.
Advance Wound Care Market Segment Analysis
By Product:
Moist
Antimicrobial
Active
The moist wound care segment is expected to dominate the market with a revenue of approximately 71% in 2023. This dominance is attributed to factors such as the rise in wound cases and global surgeries. In 2018, approximately 500,000 individuals underwent open heart surgery in the U.S., and around 40,000 children undergo congenital heart surgery annually. Advanced wound care products are beneficial for the quick healing of these wounds, making the market of advanced wound care propel during the forecast period.
Market Size, Share, Size & Forecast by Different Segments | 2024−2032
Advance Wound Care Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
Market Trend Analysis
Pestle Analysis
Porter’s Five Forces Analysis
Industry Value Chain Analysis
Ecosystem
Regulatory Landscape
Price Trend Analysis
Patent Analysis
Technology Evolution
Investment Pockets
China Manufacturing as a Service Market Segmentation
Competitive Landscape – Profiles of selected key players from a strategic perspective
Competitive landscape – Competitive Benchmarking, US Dump trucks manufacturer Market Share by Manufacturer (2023), Industry BCG Matrix, Heat Map Analysis, Mergers & Acquisitions
Analyst Viewpoint and Conclusion
Introspective Market Research, a prominent Healthcare research firm has released the following reports:
Surgical Site Infection Market: Surgical Site Infection Market size is expected to grow from USD 4.78 Billion in 2022 to USD 7.04 Billion by 2030, at a CAGR of 4.4% during the forecast period.
Home Healthcare Market: Home Healthcare Market Size Was Valued at USD 390.24 Billion in 2023 and is Projected to Reach USD 844.76 Billion by 2032, Growing at a CAGR of 8.96% From 2024-2032.
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