According to Data Bridge Market Research new Market report Global Advanced Wound Care Market is projected to reach USD 20.7 billion by 2024, from USD 11.6 billion in 2016 at a CAGR of 7.6% during the forecast period from 2017 to 2024. The new market report contains data for historic years 2014 & 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
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Driving factors such as introduction of new and advanced wound care products along with tremendous support in the form of funds and grants from various government bodies across the globe are fueling the growth of this market. Technological advancements in wound care management, prevalence of obesity-related diseases such as diabetes, and increasing aging population are also contributing towards the growth of the global advanced wound care market.
In 2014, according to WHO statistics the prevalence for diabetes above the age of 18 years is 8.5% globally. The report contains the statistics for chronic diseases for all covered countries forecasted to 2022. Globally China, India and U.S. leads in the diabetic population, while in 2015 approximately 30% of medicare spending in wound care is due to diabetes, which is about USD 322 billion per year.
Market Segmentation: Advanced Wound Care Market
- The global advanced wound care market is segmented on the basis of type, product type, application, end-user, distribution channel and geography.
- On the basis of type the advanced wound care market is segmented into dressings, biologics and therapy devices.
- The advanced wound care dressings market is further segmented on the basis of product type into foam dressings, film dressings, hydrogels, alginates, wound contact layers and super absorbent dressings. The advanced wound care biologics market segment is sub-segment into allografts, synthetic skin grafts, xenografts, and growth factors. The Therapy devices segment is further classified on the basis of product type into NPWT devices, pressure relief devices, hyperbaric oxygen chambers (HBOT), wound debridement devices and physical therapies.
- On the basis of application the advanced wound care devices market is segmented into surgical wounds, diabetic ulcers, pressure ulcers, venous ulcers, burns and others.
- Based on end-users the market is segmented into hospitals, wound care centers, ambulatory centers, home healthcare, clinics, and community healthcare.
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- Based on geography the market is segmented into 5 geographical regions, North America, Europe, Asia-Pacific, South America and Middle East and Africa. The geographical regions are further segmented into 24 major countries such as U.S. Canada, Mexico, Germany, France, U.K., Belgium, Switzerland, Turkey, Japan, China, Singapore, Brazil, India, Russia, South Africa and many others. In 2017, North America is expected to dominate the advanced wound care market with 39.2% market share followed by Europe and APAC. However the APAC region is expected to grow at the highest CAGR of 11.2% in the forecast period 2017 to 2024.
Competitive Landscape: Advanced Wound Care Market
The global advanced wound care market is highly fragmented with various companies operating in local regions. The major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes company share data for different geographies including Global, North America, Europe, APAC, South America and Middle East and Africa.
- Smith and Nephew,
- Acelity L.P., Inc.,
- Becton Dickinson and Company,
- Molyncke Healthcare AB,
- Convatec, Inc.,
- Ethicon, Inc.,
- Hollister Incorporated,
- Integra Lifesciences Corporation,
- Derma Sciences, Inc.,
- Spiracur, Inc.,
- Medline Industries,
- Mimedx, Inc.,
- Organogenesis, Inc.,
- Talley Group,
- BSN Medical,
- Devon Medical Products,
- Human Biosciences, Inc.,
- Cardinal Health,
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