Advanced Wound Care Market Size Worth $9.3 Billion By 2027 Owing To Growing Incidences Of Chronic Injuries And Rising Adoption Of Advanced Products| Grand View Research, Inc. 1
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According to the report published by Grand View Research, Inc., factors such as increasing surgical procedures, growing incidences of chronic injuries and rising adoption of advanced products comprising growth factors which aids healing are crucial in fueling the demand in the market leading to better growth.

According to a report, “Advanced Wound Care Market Size, Share & Trends Analysis Report By Product (Moist, Antimicrobial, Active), By Application (Chronic, Acute), By End Use, By Region, And Segment Forecasts, 2020 – 2027”, published by Grand View Research, Inc. The global advanced wound care market size is expected to reach USD 9.3 billion by 2027, expanding at a CAGR of 5.2% over the forecast period, according to a new report by Grand View Research, Inc. Rising surgical procedures and increasing number of ambulatory surgical centers (ASCs) are some of the key factors driving the market for advanced wound care.

Advanced wound dressings which are manufactured with products such as foam, hydrocolloid, film, and collagen dressings are extremely beneficial for victims. Growing awareness about the benefits of these products in keeping the injury hydrated, allowing them to heal rapidly, is fueling the demands in the advanced wound care market. Also, the rising number of road accidents and usage of skin-substitutes and biomaterials for the treatment of 2nd and 3rd degree burns are causing the growth rate to get bolstered further.

According to the Association for Safe International Road Travel (ASIRT), approximately 20-50 million people suffer from injuries and disability from road crashes globally. It also reported that road accidents are the ninth leading cause of death globally.

Factors responsible for road accidents include speeding, alcohol and psychoactive substance influence, unsafe road infrastructure and vehicles, non-use of helmets and seat belts, distracted driving, inadequate post-crash care, and inadequate law enforcement. According to the WHO, 93% of the world’s road fatalities occur in low and middle-income countries due to the aforementioned factors. In scenarios like this, advanced wound care products become one of the most important products playing a crucial role in saving a great number of lives.

U.S. advanced wound care market size, by product, 2016 - 2027 (USD Billion)

Further key findings from the study suggest:

  • Mergers & Acquisitions form a major part of a company’s strategy for expansion. For instance, in January 2019, Mölnlycke acquired M&J Airlaid Products A/S to further strengthen its wound care capabilities.

  • Recently, in April 2019, Smith & Nephew plc, the global medical technology business, announced completion of the acquisition of Osiris Therapeutics, Inc., for $19.00 per share in cash, representing a total equity value of approximately $660 million.

  • New technology usage and adoption by major market players is one of the most important factors of market growth. For instance, in 2020, Smith+Nephew, the global medical technology business, welcomed the announcement that its campaign to develop and promote the T.I.M.E. clinical decision support tool (CDST)1 was awarded Most Innovative in the category Excellence in Reputation & Thought Leadership at the 2020 Gartner Communications Award Ceremony.

  • By product, the moist segment held the largest market share in 2019 as it is used in providing first-aid to the patients

  • Based on application, the chronic segment is anticipated to witness the fastest growth over the forecast period owing to rising cases of diabetes among all age groups

  • On the basis of end use, home healthcare is expected to witness the fastest growth over the forecast period due to increasing demand for reduced hospital stay and growing geriatric population

  • On the basis of region, Asia Pacific is expected to witness the fastest growth over the forecast period owing to rising number of surgical procedures and increasing cases of sports injuries

  • Key players operating in the advanced wound care market include Smith & Nephew PLC; Molnlycke Health Care AB; Acelity (KCI Licensing, Inc.); ConvaTec Group PLC; Baxter; Coloplast Corp.; Medtronic; 3M; Derma Sciences Inc. (Integra Lifesciences); and Medline Industries, Inc.

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Grand View Research has segmented the global advanced wound care market on the basis of product, application, end use, and region:

Advanced Wound Care Product Outlook (Revenue, USD Million, 2016 – 2027)

  • Moist

    • Foam Dressings

    • Hydrocolloid Dressings

    • Film Dressings

    • Alginate Dressings

    • Hydrogel Dressings

    • Collagen Dressings

    • Other Advanced Dressings

  • Antimicrobial

    • Silver

    • Non-silver

  • Active

    • Biomaterials

    • Skin-substitute

Advanced Wound Care Application Outlook (Revenue, USD Million, 2016 – 2027)

  • Chronic

    • Diabetic Foot Ulcers

    • Pressure Ulcers

    • Venous Leg Ulcers

    • Others

  • Acute

    • Surgical & Traumatic Wounds

    • Burns

Advanced Wound Care End-use Outlook (Revenue, USD Million, 2016 – 2027)

  • Hospitals

  • Specialty Clinics

  • Home Healthcare

  • Others

Advanced Wound Care Regional Outlook (Revenue, USD Million, 2016 – 2027)

  • North America

    • U.S.

    • Canada

  • Europe

    • U.K.

    • Germany

  • Asia Pacific

    • Japan

    • China

  • Latin America

    • Brazil

    • Mexico

  • MEA

    • South Africa

    • Saudi Arabia

List of Key Players of Advanced Wound Care Market
• Smith & Nephew PLC
• Molnlycke Health Care AB
• Acelity (KCI Licensing, Inc.)
• ConvaTec Group PLC
• Baxter
• Coloplast Corp.
• Medtronic
• 3M
• Derma Sciences Inc. (Integra Lifesciences)
• Medline Industries, Inc

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Grand View Research is a market research and consulting company that offers market research reports, syndicated and customized reports. The company is headquartered in San Francisco, California. It offers client engagement for business consulting and market intelligence from various domains. The clientele is based across various countries with queries coming from more than 50 industries worldwide.
Grand View Research helps its clients to make informed decisions by helping them understand current trends and scenarios. Every year Grand View Research accomplishes more than 300 multi-country market studies to optimize consulting for clients.

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