The advanced wound management market is likely to register a valuation of USD 8.1 billion in 2023, and FMI anticipates that the market valuation could reach USD 11.5 billion by 2033. The market is capturing a CAGR of 3.6% during the forecast period.
Factors Driving the Advanced Wound Management Market:
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Negative Pressure Wound Therapy (NPWT) devices have been a breakthrough in wound care over the last decade. In addition, NPWT significantly impacts wound salvage, further boosting its applications in multidisciplinary settings for managing diabetic foot ulcers.
As per the World Health Organization (WHO), 422 million people have diabetes. In addition, 15-20% of patients are likely to develop foot ulcers in their lifetime. Diabetic foot ulcers are a great challenge for surgeons as they are difficult to heal, leading to foot amputations in a few cases.
NPWT is used in post-debridement wounds, foot abscesses, infective heal ulcers, and exposed bones and tendons. Developments in NPWT are still evolving, wherein the incorporation of nanocrystalline antimicrobials is further improving wound cure outcomes.
The positive outcomes of NPWT in chronic wound treatment are associated with the removal of interstitial fluid, reduction in bacterial colonization, and increased vascularity. Recent developments in NPWT include portable devices and home-care protocols that are helping expand NPWT’s usage beyond hospitals and clinics.
| Attributes | Details |
|---|---|
| Market CAGR (2023 to 2033) | 3.6% |
| Market Valuation (2023) | USD 8.1 billion |
| Market Valuation (2033) | USD 11.5 billion |
According to Future Market Insights, the global advanced wound management market registered a 3.6% CAGR rate during the forecast period. Historically, the market registered a CAGR of 4.0% between 2017 and 2022.
The end-use sectors such as hospitals, skilled nursing facilities, clinics, and ambulatory surgical centers are booming the market growth by 2033. With the increasing number of advanced wound patients, healthcare players innovate advanced products to cure them safely. In addition, according to Future Market Insights, the growing number of road accidents and related causes are advancing market opportunities.
The market is estimated to reach USD 11.5 billion during the forecast period. Historically, the market stood at USD 7.7 billion from 2017 to 2022.
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Based on product type, advanced wound dressings dominate the global market by securing a CAGR of 3.5% by 2033. The increasing number of invasive surgeries, ulcers, burns, and traumatic injuries is driving the adoption of advanced wound dressings. In addition, developing collagen, hydrogels, silver-containing topical ointments, and alginate is fueling the market size further. Advanced wound dressings captured a CAGR of 3.8% in the historical period between 2017 and 2022.
Based on application, the chronic ulcers segment is anticipated to dominate the global market by securing a prominent share by 2033. Increasing diabetic foot ulcers, initial treatment, and proper care in the healthcare sector are driving the market growth. Moreover, growing chronic ulcers and an increasing number of diabetes patients are also anticipated to expand the market further.
Patients face challenges due to financial burdens. Therefore, the improved advanced wound management products have enhanced the quality of life in recent years. In addition, clinically approved applications such as platelet-rich plasma, collagen, and negative pressure wound therapy boost sales.
Based on end users, the hospital segment is leading the global market by capturing a CAGR of 3.5% by 2033. The increasing treatment-related advanced wound products, active patient care, and constant wound assessments contribute to the maximum share by adoption among healthcare experts and patients. Historically, hospitals captured a CAGR of 4.0% between 2017 and 2022.
The growing patient preferences towards the cost of care, reachability, and convenience drive the clinical expansion during the forecast period. In addition, the specialized clinic's advanced wound care management products are boosting the global market in the coming years.
| Country | United States |
|---|---|
| Forecast CAGR | 3.5% |
| Historic CAGR | 3.8% |
| Valuation 2033 | USD 2.8 billion |
| Country | China |
|---|---|
| Forecast CAGR | 3.4% |
| Historic CAGR | 3.8% |
| Valuation 2033 | USD 958 million |
| Country | Canada |
|---|---|
| Forecast CAGR | 4.2% |
| Historic CAGR | 4.5% |
| Valuation 2033 | USD 1.1 billion |
| Country | Germany |
|---|---|
| Forecast CAGR | 4.5% |
| Historic CAGR | 4.8% |
| Valuation 2033 | USD 805 million |
| Country | United Kingdom |
|---|---|
| Forecast CAGR | 3.8% |
| Historic CAGR | 4.3% |
| Valuation 2033 | USD 651.1 million |
The United States dominates the global market by capturing a CAGR of 3.5%, with a valuation of USD 2.8 billion during the forecast period. The rising surgical, chronic, and traumatic wound cases drive the United States advanced wound management market. Moreover, growing technological advancements, government initiatives, and rapid healthcare infrastructure are further booming the market in the country.
In 2020, the Centers for Disease Control and Prevention (CDC) announced around 34.2 million diabetes cases occurred in the United States. This number of patients are suffered from diabetic foot ulcers. Constantly developing new technologies in advanced wound management fuels the market size in the United States. The United States market secured a CAGR of 3.8% between 2017 and 2022 in the historical period.
The United Kingdom is significantly growing the global market by registering a CAGR of 3.8% with a valuation of USD 651.1 million by 2033. Growing awareness about effective wound management materials among healthcare providers propels the United Kingdom's advanced wound management market. In addition, the presence of key players in the United Kingdom, including Smith & Nephew Plc Convatec Group, further bolsters market growth.
The rising incidence of breast cancer with breast surgical procedures has become more frequent and complex in the country. The increasing risk-reducing surgeries, including bilateral prophylactic mastectomy, are widely adopted to observe the patient. These may heal with optimal care for advancing market-size patients.
UK-based Smith and Nephew Plc launched PICO 7Y in 2018, a single-use negative wound therapy system (sNWPT) with an AIRLOCK system to overcome these challenges. PICO 7Y is the first sNPWT device with an integrated Y extension allowing it to address two wounds simultaneously.
The new technology enables the utilization of two dressings through a single pump, thereby significantly reducing the cost of care. Such developments are expected to lay the groundwork for market expansion in the country during the assessment period. In the historical period, the United Kingdom captured a CAGR of 4.3% between 2017 and 2022.
China is anticipated to secure a CAGR of 3.4% with a valuation of USD 958 million by 2033. The growing geriatric population, lifestyle-related health disorders, and chronic wounds influence China's advanced wound management market growth.
The increasing advancements in the healthcare sector, public health insurance schemes, and reimbursements for medical products are a few other factors driving China market further. Innovation of novel cleansing, infection control, and debridement treatments is increasing huge revenue in China. In addition, healthcare manufacturers innovate advanced wound care management that drives market expansion in coming years.
Modern wound management products that are used include hemostatic agents, robotic surgery devices, tissue-engineered skin grafting agents and post-surgery wound care. All these factors bolster the market growth in China. In the historical period, China secured a CAGR of 3.8% between 2017 and 2022.
The significantly growing number of road accidents is a main burden in India. According to a Ministry of State Road Transport & Highways report, nearly 449,002 accidents occurred in 2019.
Increasing concerns regarding road accident injuries and other chronic injuries bolstered India's advanced wound management market. In addition, the growing population, effective strategies, and advanced healthcare infrastructure are a few other factors driving market expansion in India. Moreover, increased research and development activities, innovation of advanced medical products, and wound management & prevention are fueling the market in India.
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The present number of key players consolidates the market. These players launch new products in the global market to acquire maximum output and satisfy end users' requirements. In addition, their advanced technologies, initiative plans, and huge investment in research and development activities upsurge the market expansion further.
Marketing strategies followed by these key players include mergers, agreements, collaborations, acquisitions, partnerships, and product launches. As a result, their innovation in the healthcare sector collects huge revenue in the global market.
Recent Developments in the Global Market are:
| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2017 to 2022 |
| Market Analysis | USD billion for Value |
| Key Countries Covered | The United States, Canada, Germany, The United Kingdom., France, Italy, Spain, Russia, China, Japan, South Korea, India, Thailand, Malaysia, Indonesia, Australia, New Zealand, GCC Countries, Turkey, Northern Africa, and South Africa |
| Key Segments Covered | Product Type, Application, End User, Region |
| Key Companies Profiled | B. Braun Melsungen AG; Mölnlycke Health Care; ConvaTec Group plc; Coloplast A/S, SIGVARIS; Acelity L.P. Inc.; 3M; BSN Medical; Ethicon Inc.; Medline Industries, Inc.; Smith & Nephew PLC. |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The United States, China, and Canada dominate the global market.
The market is forecast to register a CAGR of 3.6% through 2033.
From 2018 to 2022, the market registered a CAGR of 4%.
Technological advancement disrupts the current market trends.
The global market size is to reach USD 11.5 billion by 2033.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2017 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Product Type 5.1. Advance Wound Dressings 5.1.1. Foam 5.1.2. Hydrocolloid 5.1.3. Hydrofiber 5.1.4. Film 5.1.5. Alginate 5.1.6. Hydrogel 5.1.7. Collagen 5.2. Wound Contact Layer 5.3. Superabsorbent Dressings 5.4. NPWT Devices 5.4.1. Standalone NPWT Devices 5.4.2. Single-use Disposable NPWT Devices 5.4.3. Portable NPWT Devices 5.4.4. NPWT Accessories 6. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Application 6.1. Chronic Ulcers 6.1.1. Venous Leg Ulcers 6.1.2. Diabetic Foot Ulcers 6.1.3. Pressure Ulcers 6.2. Non-Healing Surgical Wounds 6.2.1. Traumatic Wounds 6.2.2. Burn Cases 7. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By End User 7.1. Hospitals 7.2. Clinics 7.3. Ambulatory Surgical Centers 7.4. Skilled Nursing Facilities 7.5. Other Facilities 8. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Western Europe 8.4. Eastern Europe 8.5. Asia Pacific Excluding Japan 8.6. Japan 8.7. Middle East and Africa 9. North America Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 11. Western Europe Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 12. Eastern Europe Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 13. Asia Pacific Excluding Japan Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 14. Japan Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 15. Middle East and Africa Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 16. Key Countries Market Analysis 17. Market Structure Analysis 18. Competition Analysis 18.1. B. Braun Melsungen AG 18.2. Mölnlycke Health Care 18.3. ConvaTec Group plc. 18.4. Coloplast A/S 18.5. SIGVARIS 18.6. Acelity L.P. Inc. 18.7. 3M 18.8. BSN Medical 18.9. Ethicon Inc. 18.10. Medline Industries, Inc. 18.11. Smith & Nephew PLC 19. Assumptions & Acronyms Used 20. Research Methodology
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Advanced Wound Management Market
