Advanced Wound Care Market to Reach USD $14.89 Billion by 2026 | Reports and Data

NEW YORK, August 28, 2019 (Newswire.com) - ​The growth of the market is driven by the increasing incidences of diabetes and its prevalence, the increasing geriatric population and increasing wound ulcer prevalence.

The Advanced Wound Care Market is forecast to grow from USD $10.34 billion in 2018 to USD $14.89 billion by 2026 at a CAGR of 4.5% during the forecast period. The market is primarily driven by increasing diabetes incidences and prevalence, the increasing geriatric population, increasing wound ulcer prevalence, advancing technology in advanced wound care products, increased funding for wound care research and increasing awareness programs on wound management.

The rising geriatric population base at high risk of chronic wounds will support the demand for advanced wound care products. The rising pool of patients suffering from chronic injuries causes significant cost burdens on healthcare systems worldwide.

It is predicted that the existing and rising cost burden of these chronic wounds will drive investment in advance wound care technology, which will have a significant positive impact on the growth of the industry. However, prohibitive costs of advance wound care products, which often undermine the affordability of treatment, will, in the foreseeable future, hinder industry growth.

Impaired or delayed healing of the wound in chronic diseases, as well as after surgical procedures, poses a serious threat to patients and puts them at risk of infection, amputation and death.

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Further key findings from the report suggest

• The Advanced Wound Care Market is forecast to grow from USD $10.34 billion in 2018 to USD $14.89 billion by 2026 at a CAGR of 4.5% during the forecast period. The market is primarily driven by increasing diabetes incidences and prevalence, the increasing geriatric population, increasing wound ulcer prevalence, advancing technology in advanced wound care products, increased funding for wound care research, and increasing awareness programs on wound management.
   
• The market for hospitals and clinics is expected to grow the largest at USD $9.68 billion in 2026 at a CAGR of 4.7% during the forecast period. Increasing hospital admissions due to chronic wounds (such as pressure ulcer, diabetic foot, and venous leg ulcer) and increased incidences of hospital-acquired pressure ulcers are key market drivers for this end-user segment's growth. Furthermore, extended hospital stays of diabetes patients in this end-user segment further increases the demand for advanced wound care products.
   
• The market for surgical wounds is expected to grow the largest at USD $4.53 billion in 2026 at a CAGR of 5.1% during the forecast period. The large proportion of this segment can be attributed to the increasing incidence of diabetic foot ulcers and pressure ulcers and post-operative surgical wounds. Surgical wounds extend stays at the hospital, cause an enormous economic burden and significantly impair quality of life. An increasing number of surgeries due to trauma, accidents and increasing chronic disease prevalence will boost the market over the forecast period.
   
• The market for moist wound therapy is expected to grow the largest at USD $5.43 billion in 2026 at a CAGR of 4.7% during the forecast period. Factors that drive this segment's growth include the increasing incidences of diabetes-associated ulcers and the increased demand for innovative and advanced wound dressings to treat such wounds.
   
• The market for North America is expected to grow the largest and reach USD $6.40 billion in 2026 at a CAGR of 4.9% during the forecast period. The regional demand will be driven by the high and rising prevalence of chronic and acute wounds and an increasing number of surgeries. In addition, high awareness and adoption of advanced wound care devices, such as negative-pressure wound therapy (NPWT), in the coming years will increase regional growth.
• The major players in the market are Smith & Nephew (U.K.), Molnlycke Health Care (Sweden), B. Braun (Germany), ConvaTec Group (U.K.), Coloplast (Denmark), Integra LifeSciences (U.S.), 3M (U.S.), Cardinal Health (U.S.), Acelity L.P. (U.S.), Medtronic (Ireland), Paul HARTMANN (Germany), Medline Industries (U.S.), Advanced Medical Solutions Group (U.K.), BSN medical GmbH (Germany), MiMedx Group, Inc. (U.K.) and others.

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Segments covered in the report:

This report forecasts volume and revenue growth at a global, regional and country level and provides an analysis on the industry trends in each of the sub-segments from 2016 to 2026. For the purpose of this study, Reports and Data have segmented the market on the basis of product type, wound type, end-user and regional analysis.

Product Type (Revenue, USD Million; 2016-2026)

• Moist Wound Dressings
  • Foam
  • Hydrocolloid
  • Film
  • Alginate
  • Hydrogel
  • Collagen
• Wound Therapy Devices
  • Pressure Relief Devices
  • Negative Pressure Wound Therapy Systems
  • Hyperbaric Oxygen Equipment
  • Electrical Stimulation Devices
  • Other Wound Therapy Devices
• Active Wound Care
  • Artificial Skin and Substitutes
  • Autografts
    • Allografts and Xenografts
    • Other Substitutes
  • Topical Agents

Wound Type (Revenue, USD Million; 2016-2026)

• Surgical Wounds
• Ulcers
  • Pressure Ulcers
  • Diabetic Foot Ulcers
  • Venous Ulcers
• Burns
• Traumatic Wounds
• Other Wounds

End-User (Revenue, USD Million; 2016-2026)

• Hospitals and Clinics
• Home Care Settings
• Other End-Users

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Region (Revenue, USD Million; 2016-2026)

• North America
  • U.S.
• Europe
  • France
  • U.K.
• Asia Pacific
  • China
  • India
  • Japan
• Latin America
  • Brazil
• Middle East and Africa

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