At a time when governments are under pressure to reduce healthcare costs, the global advanced wound care market is growing, driven by an aging population and rising incidences of chronic wounds.
Advanced wound care products are typically used to manage complex wounds, including burns, chronic wounds and complex trauma and surgical wounds. Chronic and complex wounds represent one of the predominant challenges to global healthcare systems because they are hard to heal and expensive to treat.
The market includes competing technologies such as advanced wound dressing technologies, Negative Pressure Wound Therapies (NPWT), biologics/bioactive products, and hyperbaric oxygen therapy devices. And yet, despite competitive products and healthcare price pressures, this market is expected to reach $10,940.7 million in 2022.
The prediction comes from Global Advanced Wound Care Market—Analysis and Forecast (2016-2022) (Focus on Advanced Wound Care Dressings, NPWT Devices, HBOT Devices, Wound Care Biologics, Ultrasonic Devices, and Electromagetic Devices), a new report from Reportbuyer. Reportbuyer forecasts strong market growth in Brazil, China, India, and other emerging countries where the market penetration of advanced wound care products, and especially biologics, is just a fraction of the market penetration in the U.S.
The report highlights key driving and restraining forces for the market, which also provides a comprehensive section on competitive landscape, market share analysis, competitor benchmarking (matrices), and their positioning within the global advanced wound care market.
According to the report, there have been “pronounced advancements in the development of wound dressings that possess rapid healing properties compared to traditional wound dressing products such as gauze, cotton, and bandages. At present, owing to the rigorous research and development activities along with positive outcomes of clinical trials, players operating in the wound market have been successful in developing advanced and cost effective wound products such as foams, hydrocolloids, hydrofiber, alginates, NPWT devices, and biologics among others that provide better wound healing care and faster recovery.
The advanced wound care market is majorly segmented into four major categories that include advanced wound dressing, NPWT, wound care biologics, and other products. The market for wound dressings is more inclined towards advanced wound dressing products due to the offered fast and safe healing properties. The global advanced wound care market is expected to reach $10,940.7 million in 2022, growing at a Compound Annual Growth Rate of 5% from 2016 to 2022.