Advanced Wound Care Market Research Report by Product (Active Wound Care, Exudate Management, and Infection Management), Application, End User, Region - Cumulative Impact of COVID-19, Russia Ukraine Conflict, and High Inflation - Global Forecast 2023-2030
The Global Advanced Wound Care Market size was estimated at USD 10.34 billion in 2022 and expected to reach USD 11.18 billion in 2023, projecting growth at a CAGR of 9.24% to reach USD 20.97 billion by 2030.
The report provides market sizing and forecasts across 7 major currencies - USD, EUR, JPY, GBP, AUD, CAD, and CHF; multiple currency support helps organization leaders to make better decisions. In this report, the years 2018 to 2021 are considered as historical years, 2022 as the base year, 2023 as the estimated year, and years from 2024 to 2030 are considered as the forecast period.
Cumulative Impact of COVID-19:
The coronavirus pandemic significantly impacted the global economy, and its effects were felt in every sector. In 2020, it was estimated that global advanced wound care experienced a considerable decline in sales. The primary factor driving this decline was supply chain disruptions caused by lockdowns imposed in response to rising COVID-19 infections. As medical facilities changed their focus from elective procedures to treating those infected with COVID-19, demand for advanced wound care products dropped dramatically.
Cumulative Impact of Russia-Ukraine Conflict:
The ongoing conflict between Russia and Ukraine has also impacted the market for advanced wound care products. The conflict has resulted in economic sanctions being imposed on both countries, leading to an overall decrease in the use of advanced wound care products in these regions due to decreased purchasing power among consumers and medical facilities.
Cumulative Impact of High Inflation:
High inflation rates have affected the market for advanced wound care products as increased prices have led to decreased demand for advanced wound care products in certain regions around the world, such as South America and Africa, where inflation rates are higher than average. Additionally, high inflation rates can lead to reduced capital investment in research and development efforts which can have long-term implications regarding product innovation and technological advancement within this sector.
The market dynamics represent the ever-shifting landscape of the Global Advanced Wound Care Market by providing actionable insights into supply and demand levels. Taking such factors into account helps inform strategies, investments, and future developments to capitalize on opportunities or avoid potential pitfalls related to political, geographical, technical, social, and economic conditions. Such market observations also highlight consumer behaviors while influencing both manufacturing costs as well as consumer purchasing decisions.
- Increasing number of road accidents and injuries globally
- Growing prevalence of diabetics and obesity due to unhealthy lifestyle
- Emerging potential of active therapies for effective wound management
- High cost and risks associated with the use of advanced wound care products
- Technological advancements and innovations in advanced wound care products
- Ongoing amalgamation strategies by manufacturers for advanced wound care products
- Stringent regulatory policies and product approvals of advanced wound care products
Market Segmentation & Coverage:
- Based on Product, the market is studied across Active Wound Care, Exudate Management, Infection Management, and Therapy Devices. The Active Wound Care is further studied across Growth Factors and Skin Substitutes. The Exudate Management is further studied across Alginate Dressings, Foam Dressings, Hydrocolloids Dressings, and Hydrogel Dressings. The Infection Management is further studied across Collagen Dressings, Non-Silver Dressings, and Silver Wound Dressings. The Therapy Devices is further studied across Electromagnetic Therapy Devices, Negative Pressure Wound Therapy Devices, and Oxygen and Hyperbaric Oxygen Devices.
- Based on Application, the market is studied across Acute Wounds, Burns & Trauma, Chronic Wounds, and Surgical Wounds & Scar Management. The Burns & Trauma is further studied across First-Degree, Second-Degree, and Third-Degree,. The Chronic Wounds is further studied across Arterial Ulcers, Diabetic Foot Ulcers, Pressure Ulcers, and Venous Leg Ulcers.
- Based on End User, the market is studied across Community Health Service Centers and Hospitals.
- Based on Region, the market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom.
This research report categorizes the Global Advanced Wound Care Market in order to forecast the revenues and analyze the trends in each of the following sub-markets:
Company Usability Profiles:
The report profoundly explores the recent significant developments by the leading vendors and innovation profiles in the Global Advanced Wound Care Market, including 3M Company, Abena A/S, Advancis Medical LLC, B. Braun Melsungen AG, Baxter International Inc., Cardinal Health, Inc., Coloplast Corp., Convatec Group PLC, DermaRite Industries, LLC, Deroyal Industries Inc., Haromed BVBA, Hollister Inc., Integra Lifesciences Holdings Corporation, Johnson & Johnson Services, Inc., Lohmann & Rauscher International Gmbh & Co. KG, Medela AG, Medline Industries, Inc., Medtronic PLC, Mil Laboratories Pvt. Ltd., MiMedex Group Inc., Molnlycke Healthcare AB, Organogenesis Holdings Inc., Paul Hartmann AG, Smith & Nephew PLC, and Zimmer Biomet Holdings Inc..
The report provides insights on the following pointers:
- Market Penetration: Provides comprehensive information on the market offered by the key players
- Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
- Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
- Market Trends: Provides comprehensive understanding of the Cumulative Impact of COVID-19, the Russia-Ukraine Conflict, and the High Inflation
- Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
- Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The report answers questions such as:
- What is the market size and forecast of the Global Advanced Wound Care Market?
- What are the inhibiting factors and impact of COVID-19 shaping the Global Advanced Wound Care Market during the forecast period?
- Which are the products/segments/applications/areas to invest in over the forecast period in the Global Advanced Wound Care Market?
- What is the competitive strategic window for opportunities in the Global Advanced Wound Care Market?
- What are the technology trends and regulatory frameworks in the Global Advanced Wound Care Market?
- What is the market share of the leading vendors in the Global Advanced Wound Care Market?
- What modes and strategic moves are considered suitable for entering the Global Advanced Wound Care Market?