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The advanced wound care management market is positioned to impact patient care and outcomes through regenerative therapies and tissue engineering approaches. Advanced wound care products provide effective wound healing solutions through accelerated cellular and tissue regeneration over standard wound dressings.
The Global Advanced Wound Care Management Market is estimated to be valued at US$ 15.11 Bn in 2024 and is expected to exhibit a CAGR of 7.0% over the forecast period from 2024 to 2031.
Advanced wound care products consist of dressings, devices, grafts and allografts, and topical agents. They are designed to manage all wound types including acute wounds, chronic wounds, traumatic wounds, and surgical wounds. Advanced wound care aids in maintaining a moist wound environment that promotes autolytic debridement and cellular migration. Some products contain cellular components or growth factors that actively participate in tissue regeneration and healing. The increasing prevalence of diabetic foot ulcers and pressure ulcers due to the growing geriatric population is driving the demand for advanced wound management solutions.
Key Takeaways
Key players operating in the advanced wound care management market are Johnson & Johnson Services, Inc., 3M, Baxter, Coloplast A/S, Integra LifeSciences, Medtronic, Omeza, Cardinal Health, Bactiguard AB, Noventure, Essity, Schulke & Mayr GmbH, Smith & Nephew Plc., Convatec Group PLC, SANUWAVE and SANUWAVE Health, Inc., EO2 Concepts, Wound Care Advantage, LLC., Healthium Medtech Limited, Arch Therapeutics, Inc., Hydrofera, Sanara MedTech Inc., Axio Biosolutions Pvt Ltd., and Gentell, Inc.
The global advanced wound care management market is witnessing increasing demand driven by the growing prevalence of chronic wounds associated with the rising geriatric population and diseases such as diabetes. According to the International Diabetes Federation, around 463 million adults were living with diabetes in 2019 which is projected to rise to 700 million by 2045. Advanced wound care products help improve outcomes for chronic and hard-to-heal wounds.
Major players in the advanced wound care management market are focusing on expansions and collaborations to strengthen their geographic presence and product portfolios. For instance, in January 2022, 3M acquired Acelity Inc. and its KCI subsidiaries to enhance its advanced and surgical wound care offerings. In July 2021, Coloplast acquired OneCare Medical to enter the home health market in the US with advanced wound care products.
Market Key Trends
The advanced wound care management market is witnessing a growing trend of products incorporating new technologies for regenerative healing. Companies are developing bioactive dressings containing growth factors, cytokines, and peptides that enhance cellular signaling and tissue regeneration. For example, coagulation gauze Architac dressing contains the human protein tissue thromboplastin which activates the coagulation cascade helping achieve hemostasis faster.
Increased focus on single-use, cost-effective products is another key trend in the advanced wound care market. Disposable NPWT devices and single-use negative pressure wound therapy pads and kits are gaining popularity as they reduce risk of contamination and infection. Portable single-use products also enable home healthcare of wounds.
Porter’s Analysis
Threat of new entrants: The advanced wound care management market requires significant R&D investment and regulatory approvals which increases the entry barriers.
Bargaining power of buyers: Individual buyers have low bargaining power however organized healthcare providers and government healthcare programs have significant bargaining power.
Bargaining power of suppliers: Major suppliers in this market are raw material suppliers and component manufacturers. They have moderate bargaining power due to theavailability of substitute suppliers.
Threat of new substitutes: There is a medium threat of substitution from other wound care therapies and products. However, advanced wound care offers greater efficacy.
Competitive rivalry: Being a fragmented market, competition is high among major players to gain higher market share through new product launches and strategic partnerships.
Geographical Regions
North America accounts for the largest share of the global advanced wound care management market, both in terms of value and volume. This is majorly attributed to the increasing prevalence of diabetes and associated wounds, growing obesity rates, and rising geriatric population in the US and Canada.
The Asia Pacific region is expected to witness the fastest growth during the forecast period owing to increasing healthcare expenditure, growing awareness about advanced wound care products, and rising incidence of chronic wounds due to the rising prevalence of lifestyle diseases in developing economies such as India and China.
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1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
