Advanced Wound Care Market1
Advanced wound care market size was valued at $8,978.0 Mn in 2020, and is projected to reach $14,190.5 Mn by 2030, registering a CAGR of 4.6% from 2021 to 2030.
— Onkar Sumant
PORTLAND, OREGON, UNITED STATES, July 12, 2022 /EINPresswire.com/ — According to the report published by Allied Market Research, the global advanced wound care market was pegged at $8.97 billion in 2020 and is expected to reach $14.19 billion by 2030, growing at a CAGR of 4.6% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.
Surge in geriatric population, increase in incidences of diabetes, obesity and chronic conditions, and high-end technological advancements to deal with complex wounds fuel the growth of the global advanced wound care market. On the other hand, high cost of advanced wound care products impedes the growth to some extent. Nevertheless, untapped opportunities in developing economies is expected to create a number of opportunities for the key players in the industry.
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Impact of Covid-19 on Advanced Wound Care Market-
The Covid-19 pandemic negatively affected the market due to countrywide lockdown and canceled or postponed elective surgeries. Moreover, the prolonged lockdown disrupted the supply chain and increased the prices of medical equipment and raw materials.
However, the increase in skin injuries in medical care providers is expected to boost the demand for advanced wound care.
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The chronic wounds segment to remain lucrative during the estimated period-
Based on application, the chronic wounds segment contributed to more than two-thirds of the global advanced wound care market in 2020, and is anticipated to dominate during 2022–2030. The same segment is also projected to register the fastest CAGR of 6.7% by 2030. Various methods are now available to treat chronic wounds, including, debridement, moist wound healing, vacuum-assisted closure, oxygenation, warming etc., which has driven the growth of the segment.
Based on product, the exudate management segment held the largest share in 2020, accounting for nearly one-third of the market. However, the active wound care segment is estimated to register the highest CAGR of 8.0% during the forecast period.
On the basis of application, the chronic wounds segment dominated the market in 2020, contributing to more than two-thirds of the market. Moreover, the segment is projected to manifest the highest CAGR of 4.7% during the forecast period. The report also analyzes the acute wounds segment.
The global advanced wound care market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across North America held the largest share in 2020, accounting for more than two-fifths of the market. However, the market across Asia-Pacific is expected to register the highest CAGR of 5.7% during the forecast period.
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The global advanced wound care market report includes an in-depth analysis of the prime market players such as 3M (Acelity Inc.), B Braun Melsungen AG, Adynxx, Inc., ConvaTec Group plc, Coloplast A/S, Integra Lifesciences (Derma sciences), Essity AB (BSN Medical GmbH), Johnson & Johnson, Investor AB (Mölnlycke Health Care AB), Medtronic plc., Medline Industries, Inc., Smith & Nephew Plc., and Organogenesis Holdings Inc.
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“We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market.”
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This news story originally appeared at Health - Trend Magazine on 30 July 2022