According to a new report published by Allied Market Research, titled, “U.S. Advanced Wound Care Market by Product, Application, and End User: Opportunity Analysis and Industry Forecast, 2020–2027,” the U.S. Advanced Wound Care market Size was valued at $3.35 billion in 2019 and is expected to reach $4.97 billion by 2027, registering a CAGR of 9.9% from 2020 to 2027. The chronic wounds segment accounted for more than two-third of the total advanced wound care market share in 2019.
Advanced wound care include products that are used to treat chronic and acute wounds such as burns, ulcers, and postoperative wounds. Advanced wound care products such as hydrogels, hydrocolloids, film & foam dressings, and alginates keep wounds hydrated to facilitate rapid healing. Advanced wound care products provide solutions to patients suffering from chronic wounds by offering them reasonably priced and readily accessible products. Moreover, the report covers information on therapy devices, such as negative pressure wound therapies (NPWT), oxygen & hyperbaric oxygen equipment, electromagnetic therapy devices, electrical stimulation devices, and pressure relief devices.
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Growth in ageing population and rise in number of patients suffering from obesity, diabetes, and chronic conditions propel the growth of the U.S. advanced wound care market. Nevertheless, high cost associated with advanced wound care products restrains the market growth. Furthermore, technological advancements to treat the complex wounds is expected to provide new growth opportunities for the market players in the near future.
Covid-19 scenario:
- Due to the spread of Covid-19 there has been a major disruption in health care services, causing interference in the treatment for patients with wounds as doctors are being redeployed for treating Covid-19 patients due to which there will be a delay in patient treatment.
- Furthermore, the demand for advanced wound care is anticipated to increase during the pandemic as patients with multiple comorbidities may have an increased risk of getting infected from the corona virus.
- Advanced wound care patients are at the higher risk during COVID-19 pandemic: Governments suggested providers to minimize the procedure or shift to the less risky area for the treatment. This would hamper the growth of the market during COVID-19 pandemic.
The therapy devices segment to dominate the market-
Based on product, the therapy devices segment contributed to the largest share in 2019, accounting for more than one-third of the U.S. advanced wound care market, and is estimated to maintain its dominant position during the forecast period. This is owing to factors including availability of innovative portfolio for wound care devices, rise in government spending for advanced wound care devices, surge in awareness toward healthcare, and technological advancements in wound care devices. However, the active wound care segment is estimated to portray the highest CAGR of 14.6% during the forecast period. This is attributed to rise in number of plastic surgeries. In addition, surge in demand for innovative & advanced wound care products and rise in incidences of burns & trauma injuries across the U.S further enhances the segment growth. KW MISSING
The chronic wounds segment to lead the trail through 2027-
Based on application, the chronic wounds segment accounted for the largest share in 2019, holding more than two-thirds of the U.S. advanced wound care market, and is expected to maintain the largest share throughout the forecast period. Furthermore, the segment is expected to register the highest CAGR of 10.1% from 2020 to 2027. This is attributed to surge in prevalence of post-operative surgical wounds, rise in geriatric population, increase in awareness and improved diagnosis, and technological advancements.
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The hospitals segment to rule the roost throughout 2027-
Based on age group, the hospitals segment accounted for the largest share in 2019, holding for nearly three-fifths of the U.S. advanced wound care market, and is expected to maintain the largest share throughout the forecast period. This is attributed to the fact that hospitals are increasingly showing an inclination toward advanced wound care products. In addition, increase in investments by hospitals in advanced wound care products to reduce hospital stay and to curb the overall cost burden by minimizing longer hospital stay of patients fuel the segment growth. Conversely, the community centers segment is expected to register the highest CAGR of 10.4% from 2020 to 2027. Factors such as effective treatment for different types of wounds, numerous benefits such as long-term care facilities in nursing homes or clinics at a relatively lower cost drive the segment growth.
Leading market players-
- Adynxx, Inc.
- 3M (Acelity Inc.)
- Coloplast A/S
- B Braun Melsungen AG
- Essity AB (BSN Medical GmbH)
- ConvaTec Group Plc
- Investor AB (Mölnlycke Health Care AB)
- Integra Lifesciences (Derma sciences)
- Medline Industries, Inc.
- Johnson & Johnson
Key Findings of the Study:
- By product, the active wound care segment is expected to experience rapid growth, registering a CAGR of 14.6% from 2020 to 2027.
- By application, the chronic wounds segment dominated the U.S. advanced wound care market in 2019 and is expected to maintain this trend during the forecast period.
- Depending on end user, the hospitals segment held more than 50% of the U.S. advanced wound care market in 2019, and is anticipated to continue this trend during the forecast period.
- By skin substitutes, the allografts segment held the major share in the market in 2019, and is anticipated to continue this trend during the forecast period.
- Depending on acute wounds, the surgical wounds segment is a lucrative segment that is estimated to grow at a CAGR of 10.0% during the forecast period.
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