When should advanced wound care be considered?
When wounds fail to achieve sufficient healing after 4 weeks of standard care, reassessment of underlying pathology and consideration of the need for advanced therapeutic agents should be undertaken.
The global advanced wound care market size was valued at $8,978.0 million in 2020, and is projected to reach $14,190.5 million by 2030, registering a CAGR of 4.6% from 2021 to 2030.
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Increase in the geriatric population, rise in incidences of diabetes, obesity, and chronic conditions, and developments in technology to deal with complex wounds have boosted the growth of the global advanced wound care market. However, high cost of advanced wound care products hinders the market growth. On the contrary, untapped opportunities in developing countries are expected to unlock new opportunities for the market players in the future.
Surge in geriatric population, increase in incidences of diabetes, obesity and chronic conditions, and high-end technological advancements to deal with complex wounds fuel the growth of the global advanced wound care market. On the other hand, high cost of advanced wound care products impedes the growth to some extent. Nevertheless, untapped opportunities in developing economies is expected to create a number of opportunities for the key players in the industry.
Impact of Covid-19 on Advanced Wound Care Market-
- The Covid-19 pandemic negatively affected the market due to countrywide lockdown and canceled or postponed elective surgeries. Moreover, the prolonged lockdown disrupted the supply chain and increased the prices of medical equipment and raw materials.
- However, the increase in skin injuries in medical care providers is expected to boost the demand for advanced wound care.
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North America to maintain its dominance throughout the forecast period-
Based on geography, North America held the major share in 2020, generating nearly two-fifths of the global advanced wound care market. Development of advanced systems, upsurge in adoption of wound care products for the treatment of chronic & acute wounds, increase in incidence of chronic diseases, and surge in geriatric population have boosted the market in the province. The region across Asia-Pacific, on the other hand, would cite the fastest CAGR of 8.4% throughout the estimated period. Development in healthcare infrastructure, rise in number of laboratories with advanced medical facilities, and increase in number of target population in emerging economies have propelled the growth.
increase in prevalence of chronic wounds significantly over past few years, rise in global geriatric population, and surge in prevalence of diabetes and obesity which can complex the wound infections are the factors that promote the advanced wound care market growth significantly during forecast period.
Manager, Healthcare at Allied Market Research
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The global advanced wound care market report includes an in-depth analysis of the prime market players such as 3M (Acelity Inc.), B Braun Melsungen AG, Adynxx, Inc., ConvaTec Group plc, Coloplast A/S, Integra Lifesciences (Derma sciences), Essity AB (BSN Medical GmbH), Johnson & Johnson, Investor AB (Mölnlycke Health Care AB), Medtronic plc., Medline Industries, Inc., Smith & Nephew Plc., and Organogenesis Holdings Inc.
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