The global Advanced Wound Care Management Market Growth Accelerated by rising prevalence of chronic wounds

 

Advanced wound care management products are highly useful in the treatment of acute and chronic ulcers, surgical wounds and burns. These products expedite wound healing process and reduce patient discomfort. They include wound closure products such as surgical staples, sutures and abrasive skin gel pads.

The global Advanced Wound Care Management Market is estimated to be valued at US$ 15.11 Bn in 2023 and is expected to exhibit a CAGR of 7.0% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
Rising prevalence of chronic wounds has been significantly fueling adoption of advanced wound care management products. According to the Wound Healing Society, chronic wounds affect over 6.5 million patients in the U.S. every year. Factors such as obesity, diabetes and pressure ulcers are leading to increasing incidence of chronic wounds. Furthermore, increasing geriatric population is also propelling market growth as aged people are more prone to injuries and wounds that fail to heal quickly. Advanced wound care products promote faster wound healing and provide protection against infections for chronic wounds. Thus, growing chronic wound burden worldwide has emerged as a major growth driver for the advanced wound care management market.

Segment Analysis
The global Advanced Wound Care Management market is segmented based on product type, wound type, end-user, and region. Within product type, the advanced wound dressings segment dominated other segments in 2024 due to its high usage in treatment of acute and chronic wounds. Advanced wound dressings aid in faster wound healing and help prevent infections.

Key Takeaways
The global Advanced Wound Care Management market is expected to witness high growth during the forecast period of 2024-2031. The global Advanced Wound Care Management Market is estimated to be valued at US$ 15.11 Bn in 2023 and is expected to exhibit a CAGR of 7.0% over the forecast period 2024 to 2031.

Regional analysis related content comprises: North America is currently the leading regional market for advanced wound care management and accounts for the major market share. Factors such as increasing prevalence of chronic diseases leading to Complex wounds, rising number of surgical procedures performed, growing aging population, and well-established healthcare facilities drive market growth in this region. The U.S. dominates the North American as well as global Advanced Wound Care Management market.

Key players operating in the Advanced Wound Care Management market are Johnson & Johnson, Smith & Nephew, 3M, ConvaTec Group, Coloplast, and Molnlycke Health Care. The market is highly competitive with major players adopting strategies such as new product launches, partnerships, and acquisitions to increase their market share. For instance, in 2020, 3M launched a new wound dressing - 3M Avagard Dressing which contains antiseptic agent chlorhexidine gluconate and is useful for treatment of minor cuts, lacerations, and abrasions.

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