The global advanced wound care market was pegged at $8.97 billion in 2020 and is expected to reach $14.19 billion by 2030, growing at a CAGR of 4.6% from 2021 to 2030.
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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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The chronic wounds segment to remain lucrative during the estimated period-
Based on application, the chronic wounds segment contributed to more than two-thirds of the global advanced wound care market in 2020, and is anticipated to dominate during 2022–2030. The same segment is also projected to register the fastest CAGR of 6.7% by 2030. Various methods are now available to treat chronic wounds, including, debridement, moist wound healing, vacuum-assisted closure, oxygenation, warming etc., which has driven the growth of the segment.
The global advanced wound care market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across North America held the largest share in 2020, accounting for more than two-fifths of the market. However, the market across Asia-Pacific is expected to register the highest CAGR of 5.7% during the forecast period.
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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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