Advanced Wound Care Market: Growth, Size, Share, and Trends

Market Growth Outlook Summary

The global advanced wound care market growth forecasted to transform from USD 11.3 billion in 2022 to USD 17.7 billion by 2027, driven by a CAGR of 9.4%. The growth of this market is primarily driven by factors such as the increasing prevalence of diseases and conditions that affect wound healing, rising spending on chronic wound care, and technological advancements. However, the high costs and risks associated with the use of advanced wound care products are major factors hindering market growth.

Advanced Wound Care Market – Global Forecast and Growth Insights to 2027

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Advanced Wound Care Market Dynamics to 2027

Driver: increasing number of surgical procedures across the globe

As the surgical treatment becomes more accessible and affordable on a global scale, more surgeries are expected to be performed. The incidence of related surgical wounds and infections has increased along with the prevalence of chronic diseases and the expansion of surgical procedures. Along with sophisticated treatments like NPWT, this will raise the market for improved wound care products and debridement procedures.

Surgical techniques frequently result in wound infections, severe bleeding, or tissue damage. The use of advanced wound care products like honey wound dressings, which are stuffed with antimicrobial agents and have emerged as a feasible option to speed up the healing process by lowering wound bacterial colonisation and infection, Due to a product's established advantages and the rising public awareness of their efficacy, more people are choosing to use advanced wound care treatments both during and after surgical procedures.

Opportunity: Growth potential of emerging economies

Compared to Europe and North America, the Asia Pacific and Latin America are relatively unexplored markets for advanced wound management and have better market potential. Due to this, various players are focusing on increasing their presence in these regions. Emerging economies such as India, South Korea, Malaysia, Vietnam, Africa, and Middle Eastern countries such as Israel, Saudi Arabia, and the UAE offer significant growth opportunities to major market players. This can be due to comparatively easy regulations and barriers, advancements in healthcare infrastructure like hospitals and clinics, a rising patient population, especially the geriatric population, and ever-increasing healthcare expenditure.

Restraint: High cost of advanced wound care products

The high price tag of chronic wound treatments and advanced wound care products may hamper their adoption, especially in low-income markets such as Asia and the rest of the world. Patients and physicians in these regions have a preference for inexpensive advanced wound care products. However, with growing realisation regarding the effectiveness and necessity of these products and rising disposable incomes in many of these countries, the preference for advanced wound care products is expected to increase in the forecasted years.

Trend: Focus on expanding the current technologies and launching novel products.

Research and development in advanced wound care products such as wound dressings has resulted in the research and production of novel products that provide absorption, hydration, and antibacterial activities. This has in turn caused a shift from simple dressings to advanced dressings and increased demand for products that incorporate active pharmaceutical ingredients. The need to improve the condition of wound bed tissue and provide products that regulate wound healing drives innovation in the market.

The dressings segment accounted for the largest share of the advanced wound care industry by product type.

The global advanced wound care market is segmented based on products into dressings, devices, and accessories; grafts and matrices; and topical agents based on products. The dressings segment accounted for the largest share of the industry, mainly due to rising patient education and the increasing occurrence of HAIs. Factors such as the rising prevalence of diabetic ulcers, venous ulcers, and pressure ulcers act as catalysts for the growth of this market.

The surgical and traumatic wounds segment accounted for the largest share of the advanced wound care industry, by wound type.

The global advanced wound care market is segmented by wound type into surgical and traumatic wounds, diabetic foot ulcers, pressure ulcers, venous leg ulcers, burns, and other wounds. The surgical and traumatic wounds segment will account for the largest share of the industry, owing to an increase in the number of surgical procedures performed and an increase in the rate of SSIs.

Hospitals, ASCs, and wound care centers accounted for the largest share of the advanced wound care industry by end user.

The global advanced wound care market is segmented into hospitals, ASCs, and wound care centers; home care settings; and other end users. In 2021, the hospitals, ASCs, and wound care centers segment accounted for the largest share of the industry. Increasing hospital visits for chronic wounds (such as pressure ulcers, diabetic foot ulcers, and venous leg ulcers) and the growing incidence of hospital-acquired pressure ulcers and infections are the most prominent market drivers for the growth of this end-user segment.

North America is the largest region of the advanced wound care industry.

The global advanced wound care market has been segmented into five major regions: North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. North America accounted for the largest share of the market. The increasing number of acquisitions by top companies situated in North America is responsible for supporting the growth of the global market in this region. Demographic changes, increasing awareness among the patient population, and the high market penetration of advanced wound care products also support market growth.

Advanced Wound Care Market by Region – Forecast to 2027

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Advanced Wound Care Market – Leading Key Players Analysis

• 3M Company (US)
• Smith & Nephew plc (UK)
• ConvaTec Group Plc (UK)
• Coloplast A/S (Denmark)
• Mölnlycke Health Care AB (Sweden)

Advanced Wound Care Market Report Scope and Insights

Advanced Wound Care Market Segmentation and Analysis

By Product

• Dressings
  • Foam Dressings
  • Silicone Dressings
  • Non-silicone Dressings
  • Hydrocolloid Dressings
  • Film Dressings
  • Alginate Dressings
  • Hydrogel Dressings
  • Collagen Dressings
  • Hydrofiber Dressings
  • Wound Contact Layers
  • Superabsorbent Dressings
  • Other Advanced Dressings
• Devices & Accessories
  • NPWT Devices & Accessories
  • Debridement Devices & Accessories
  • Wound Assessment & Monitoring Devices
  • Other Devices & Accessories
• Grafts & Matrices
• Topical Agents

By Wound Type

• Surgical & Traumatic Wounds
• Diabetic Foot Ulcers
• Pressure Ulcers
• Venous Leg Ulcers
• Burns & Other Wounds

By End User

• Hospitals, ASCs, and Wound Care Centers
• Home Care Settings
• Other End Users

By Region

• North America
  • US
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Singapore
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa

Advanced Wound Care Market Recent Developments and Insights

• In June 2022, Smith & Nephew (UK) announced that it will be building a new R&D and manufacturing facility for its Advanced Wound Management franchise on the outskirts of Hull, UK. The new facility is expected to support more than $10 billion in sales in its first ten years of operation.
• In March 2022, ConvaTec Inc. (UK) acquired Triad Life Sciences (US), a company that develops biologically derived products to address unmet clinical needs in surgical wounds, chronic wounds, and burns.
• In January 2020, ConvaTec Inc. (UK) launched ConvaMax, an advanced wound dressing that helps in managing highly exuding wounds, including leg ulcers, surgical wounds, and diabetic foot ulcers.
• In October 2019, 3M Company (US) acquired Acelity Inc. (US). This acquisition enhanced 3M's capabilities in advanced wound care, a significant and growing market segment.

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