Advanced wound care products are used for the management of acute and chronic wounds such as leg ulcers, pressure ulcers, and surgical wounds. These products provide optimal healing conditions for wounds and help reduce healing time compared to traditional wound care options. Some key advanced wound care products include moisture therapy, film and foam dressings, hydrocolloid dressings, alginate dressings, hydrogel dressings, and collagen-based dressings.

The global Advanced Wound Care Management Market is estimated to be valued at US$ 16.5 billion 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:

Technological advancements are expected to drive the growth of the advanced wound care management market during the forecast period. Key players are focused on developing novel wound care products incorporated with active ingredients that aid in faster wound healing. For instance, in February 2022, MiMedx introduced AmnioFix® Injectable a novel bone marrow stem cell product developed from micronized dehydrated human amnion/chorion tissue for the treatment of musculoskeletal conditions. Such launch of innovative biomaterial-based products is expected to increase adoption and accelerate market growth over the forecast period.

Segment Analysis

The global advanced wound care management market is dominated by the chronic wounds sub-segment. Chronic wounds such as pressure ulcers, diabetic foot ulcers, and venous leg ulcers account for a significant share of this market. These wounds require advanced wound care products to aid in healing and preventing complications. This sub-segment will continue to be the major revenue generator due to the growing geriatric population, rising prevalence of chronic diseases, and increasing cases of diabetic foot ulcers.

Key Takeaways

The Global Advanced Wound Care Management Market Size is expected to witness high growth over the forecast period of 2023 to 2030. The global Advanced Wound Care Management Market is estimated to be valued at US$ 16.5 billion in 2023 and is expected to exhibit a CAGR of 2.7% over the forecast period 2023 to 2030.

Regional analysis: North America currently accounts for the largest share of the advanced wound care management market and is expected to continue dominating the market during the forecast period. This is attributed to factors such as the rising prevalence of chronic diseases, growing rate of obese population, and availability of advanced healthcare facilities.

Key players: Key players operating in the advanced wound care management market are Smith & Nephew, B. Braun Melsungen AG, Coloplast Corp, ConvaTec Group, Ethicon, Human Biosciences, Integra LifeSciences Holdings Corporation, 3M, Cardinal Health, and Mölnlycke Health Care AB.

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