The global Advanced Wound Care Management Market Growth Accelerated by Increasing Prevalence of Chronic Wounds

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Advanced wound care products are primarily used to treat chronic and acute wounds such as pressure ulcers, diabetic foot ulcers, and venous leg ulcers. These wound care products help in managing wound exudate and provide optimal moist environment which aids in faster wound healing. Wound assessment, damage management, and enhanced healing, are some of the key advantages offered by advanced wound care products. The rising prevalence of diabetes and associated complications such as diabetic foot ulcers is a major factor augmenting the demand for advanced wound care management products.

The global Advanced Wound Care Management Market is estimated to be valued at US$14095 million in 2023 and is expected to exhibit a CAGR of 2.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
The increasing prevalence of chronic wounds such as diabetic foot ulcers, venous leg ulcers and pressure ulcers is substantially driving the advanced wound care management market growth. According to the statistics provided by Centers for Disease Control and Prevention, over 6.7 million Americans suffer from chronic wounds each year. Diabetic foot ulcer is one of the major chronic wounds affecting around 25% diabetic population at some point of their lives. Technological advancements in wound care products assisting faster healing of chronic and acute wounds are further expected to boost the demand for advanced wound care management over the forecast period.

Segment Analysis

The global advanced wound care management market size is segmented based on product, application, end user and geography. The product segment is further divided into advanced wound dressings, wound care devices, and active wound care. Advanced wound dressings dominate the segment as they help manage wound exudate and maintain a moist environment to encourage healing. Wound care devices assist in the management of wounds with the help of negative pressure wound therapy, hyperbaric oxygen therapy, and others.

Key Takeaways

The global Advanced Wound Care Management Market is estimated to be valued at US$14095 million in 2023 and is expected to exhibit a CAGR of 2.7% over the forecast period 2023 to 2030.

Regional analysis: North America holds the largest share of the advanced wound care management market due to favorable reimbursement policies, rapid increase in aging population and high adoption of advanced wound care products in the region. Europe is the second largest regional market. However, Asia Pacific is expected to witness the highest growth during the forecast period owing to increasing focus of key players on emerging markets, rising disposable income and developing healthcare infrastructure.

Key players: Key players operating in the advanced wound care management market are Smith & Nephew, Mölnlycke Health Care, B. Braun, ConvaTec Group, Coloplast, Integra Lifesciences, 3M, Cardinal Health, PAUL HARTMANN, Medline Industries. Smith & Nephew dominates the market with advanced wound dressings product portfolio and global distribution network. Mölnlycke Health Care focuses on active wound care through its advanced therapies.

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