Advanced Wound Care Market: Industry Trends and Global Forecasts, Till 2035 - Distribution by Type of Advanced Wound Care Dressing, Type of Acute Wound Treated, Type of End User, Leading Advanced Wound Care Manufacturers, and Key Geographical Regions

Advanced Wound Care Market Booming with Start-Up Activity and Strategic Collaborations

The global advanced wound care market size is estimated to grow from USD 11.06 billion in 2023 to USD 20.21 billion by 2035, representing a CAGR of 5.15% during the forecast period 2023-2035. Over the past decade, wound care management has emerged as a significant contributor in medicare spending, resulting in a substantial financial burden on the healthcare sector. According to the recent medicare data, over 8 million people suffer from various chronic and non-healing complex wounds (such as diabetic foot ulcers, pressure ulcers, venous leg ulcers, infections arising from surgical procedures and thermal wounds) in the US alone; this accounts for 2% of the entire population of the US. The US medicare beneficiaries spend over $ 50 billion, annually, for the treatment of chronic wounds. The significant medicare cost can be attributed to the growing burden of chronic diseases, rise in the global geriatric population who are prone to chronic diseases and wounds, and the rising number of surgeries (by ~20%) post the pandemic. These factors have, subsequently, prompted the innovators to develop innovative and technologically advanced wound care products for effective wound care management.

Advanced wound care products / advanced wound care management solutions refer to a group of products that can be utilized by the healthcare professionals to expedite the healing process of a wound. It is worth noting that over 180 players in this domain offer products in the form of advanced wound care dressings, bioengineered skins and dermal substitutes, and wound healing medical devices. In order to increase the adoption of advanced wound care products, stakeholders are focused on integrating these products with AI technology and machine learning, leading to the development of smart bandages and wound care products that can be operated through mobile app. Moreover, the experts believe that integration of wound care with AI technology has significant revenue generation potential in the near future. Such developments are further supported by the growing partnership activity in this domain. Notably, over the past three years, close to 100 partnerships have been established by stakeholders in advanced wound care market. With the rising popularity of such solutions in the healthcare industry and the ongoing efforts of stakeholders to further improve / expand their respective offerings, the advanced wound care market is likely to witness a steady growth during the forecast period.

Advanced Wound Care Market Share Insights

The market research report presents an in-depth analysis of the various companies that are engaged in the global market of advanced wound care, across different segments, as defined below:

• Historical Trend: 2019-2021
• Base Year: 2022
• Forecast Period: 2023-2035
• Market Size 2023: USD 11.06 billion
• CAGR: 5.15%
• Customization Scope: 15% Free Customization
• PowerPoint Presentation (Complimentary) 
• Type of Advanced Wound Care Product 
  • Advanced Wound Care Dressings
  • Bioengineered Skins and Dermal Substitutes
  • Wound Healing Medical Devices
• Type of Advanced Wound Care Dressing 
  • Foam Dressings
  • Antimicrobial Dressings
  • Hydrogel Dressings
  • Hydrocolloid Dressings
  • Alginate Dressings
  • Composite Dressings
  • Other Type of Wound Care Dressings
• Type of Bioengineered Skin and Dermal Substitute
  • Allografts
  • Autografts
  • Extracellular Matrices
  • Growth Factors
  • Other Dermal Substitutes
• Type of Wound Healing Medical Device
  • Negative Pressure Wound Therapy
  • Topical Oxygen Therapy
  • Hyperbaric Oxygen Therapy
  • Hydrotherapy
  • Electric Stimulation Therapy
  • Skin Closure Systems / Adhesives
  • Other Wound Healing Medical Devices
• Type of Wound Treated
  • Acute Wounds
  • Chronic Wounds
• Type of Acute Wound Treated
  • Surgical Wounds
  • Burns
  • Other Types of Acute Wounds
• Type of Chronic Wound Treated
  • Venous Ulcers
  • Diabetic Ulcers
  • Pressure Ulcers
  • Other Types of Chronic Wounds
• Type of End User
  • Hospital Care
  • Home Care / Door to Door Services
  • Other Types of End Users
• Key Geographical Regions
  • North America
  • Europe
  • Asia-Pacific and Rest of the World
• Key Companies Profiled
  • 3M
  • Arthrex
  • Advanced Medical Solutions
  • Cardinal Health
  • Coloplast
  • Convatec
  • DeRoyal
  • Ethicon
  • Essity
  • Fidia Farmaceutici
  • Integra Life Sciences
  • Medline Industries
  • Molnlycke Healthcare
  • Organogenesis
  • RTI Surgical
  • Smith+Nephew
  • Zimmer Biomet
• Excel Data Packs (Complimentary)
  • Advanced Wound Care Market Landscape
  • Company Competitiveness Analysis
  • Partnerships and Collaborations Analysis
  • Clinical Trial Analysis
  • Market Forecast and Opportunity Analysis

Market Segmentation Overview

Market Share by Type of Advanced Wound Care Product

Based on the type of advanced wound care product, the advanced wound care market is categorized into advanced wound care dressings, bioengineered skins and dermal substitutes, and wound healing medical devices. Advanced wound care dressings occupy the highest market share in 2023. However, the bioengineered skins and dermal substitutes segment is expected to witness substantial growth in the coming years.

Market Share by Type of Advanced Wound Care Dressing

Based on the type of advanced wound care dressings, the advanced wound care market is categorized into foam dressings, antimicrobial dressings, hydrogel dressings, hydrocolloid dressings, alginate dressings, composite dressings, and other types of wound care dressings. The foam dressings segment occupies the highest share in 2023 and is expected to remain dominant during the forecast period. This can be attributed to the various advantages of foam dressings, such as capability to stop the exudate, ability to maintain effective temperature and condition for the wound treatment, promotion of autolytic debridement and highly absorbent nature.

Market Share by Type of Bioengineered Skin and Dermal Substitute

Based on the type of bioengineered skin and dermal substitute, the advanced wound care market is segmented into allografts, autografts, extracellular matrices, growth factors and other dermal substitutes. With the anticipated approval of various types of xenografts, tissue constructs and bioengineered skins in the coming years, the extracellular matrices segment is likely to grow at a higher CAGR as compared to other segments.

Further, currently, allografts segment occupies the largest market share in the overall advanced wound care market domain.

Market Share by Type of Wound Healing Medical Device

Based on the type of wound healing medical device, the advanced wound care market is segmented into negative pressure wound therapy, topical oxygen therapy, hyperbaric oxygen therapy, hydrotherapy, electric stimulation therapy, skin closure systems / adhesives, and other types of wound healing medical devices. Presently, the market is dominated by revenues generated from negative pressure wound therapy. This can be attributed to relatively higher adoption owing to various factors, such as clinical effectiveness in treating chronic and complex wounds, ease of use, portability, and increased interest of government agencies in the induction of this therapy under reimbursement policies.

Market Share by Type of Wound Treated

Based on the type of wound treated, the advanced wound care market is segmented into acute wounds and chronic wounds. Currently, the advanced wound care solutions designed for the treatment of chronic wounds are majorly driving the advanced wound care market. This can be attributed to the prevalence of chronic disease conditions, which make the individuals more prone to chronic wounds; and increase in the geriatric population because the individuals become more prone to such wounds as they age.

Market Share by Type of Acute Wound Treated

Based on the type of acute wound treated, the advanced wound care market is segmented into surgical wounds, burns and other types of acute wounds. Presently, the market is dominated by the advanced wound care products designed for the treatment of surgical wounds. This can be attributed to the rise in the incidence of surgical wounds in patients occurring due to low-quality surgical procedures. Moreover, it is worth noting that after the end of suspension on surgeries post the COVID-19 pandemic, there has been a rise in the incidence of surgical wounds due to the subsequent increase in the volume of surgeries conducted.

Market Share by Type of Chronic Wound Treated

Based on the type of chronic wound treated, the advanced wound care market is segmented into venous ulcers, diabetic ulcers, pressure ulcers and other types of chronic wounds. Presently, the market is dominated by the advanced wound care products designed for the treatment of venous ulcers. This can be attributed to the rise in prevalence of these ulcers due to various clinical conditions, such as hypertension, cardiovascular disorders, obesity, and varicosities.

Market Share by Type of End User

The advanced wound care market is segmented into hospital care, home care / door to door services, and other types of end users. Among these segments, home care / door to door services is likely to grow at a higher CAGR as compared to other types of end users in the coming years. This can be attributed to the various challenges faced during the COVID-19 pandemic, including the inability of the patients to have surgical and care procedures, suspension of non-essential surgeries and appointments, and delaying of wound care appointment, which led to a paradigm shift in the preference of home care / door to door settings as compared to hospital settings.

Advanced Wound Care Market Share by Key Geographical Regions

This segment highlights the distribution of advance wound care market across various geographies, such as North America, Europe and Asia-Pacific and rest of the world. According to projections, the advanced wound care market in North America is likely to capture the majority (45%) of the share, and this trend is unlikely to change in the future. It is worth highlighting that the market in Asia-Pacific and rest of the world is expected to grow at a relatively healthy CAGR (8.7%), during the period 2023-2035.

Advanced Wound Care Key Market Insights

The market report features an extensive study of the current market landscape, market size and future opportunities within the advanced wound care industry during the forecast period. The market report highlights the efforts of the various stakeholders engaged in this rapidly emerging segment of the pharmaceutical industry. Key takeaways of the advanced wound care market are briefly discussed below.

Growing Burden of Chronic Disorders and Ageing Population

Over the past decade, the healthcare industry has witnessed an unexpected surge in the prevalence of various chronic disease indications. Such diseases are usually associated with high mortality. In fact, as per the estimates, close to 90% of the deaths in the foreseen future are likely to occur due to chronic disease conditions, such as diabetes, cardiovascular disorders, vascular disease, and respiratory disorders. Moreover, with geriatric population set to reach 2.1 billion by 2050, there would be a substantial rise in the demand for advanced wound care solutions. This can be attributed to the fact that this set of population is generally more prone to various chronic wounds. In order to tackle the upcoming burden, stakeholders have established multiple partnerships focused on the distribution of advanced wound care products across various geographical regions. In fact, 25% of all the partnerships are signed by stakeholders in order to ensure that the advanced wound care products reach the target audience across the globe.

Current Market Landscape of Advanced Wound Care Companies

The advanced wound care market landscape features the presence of over 180 advanced wound care companies (very large, large, mid-sized, small and very small companies). Of these, close to 60% of the companies were established post-2001 and close to 50% of the companies working in this domain are very small (with less than 10 employees) and small players (with 11-50 employees), indicating a significant start-up activity within this domain. It is also worth highlighting that close to 30% of the companies working in the advanced wound care market were established before-1990. Examples of such companies (established before 1990, very large companies, in alphabetical order) include 3M, B. Braun, Becton Dickinson, Cardinal Health, Coloplast, Cook Medical, and Ethicon. Recently, in April 2023, Convatec acquired the assets of 30 Technology in order to expand its product portfolio of wound care. In the foreseen future, more such collaborations are anticipated to take place to expand the existing expertise of the stakeholders.

Advanced Wound Care Market Trends Analysis: Acquisitions and Distribution Agreements are Driving the Overall Partnership Activity

Several stakeholders have forged alliances with other industry / non-industry players in the advanced wound care market for different purposes. These include strategic acquisitions, distribution, and supply of advanced wound care products. It is worth highlighting that, since 2020, over 100 strategic partnerships have been signed by advanced wound care companies. Recently, in August 2023 Polarity TE acquired Grander, in order to expand its product offerings related to bioengineered skins and dermal substitutes for wound care. In the same month, Sanuwave entered into a distribution agreement with Pacific Medical to expand its geographical reach and offer technologically advanced wound care products for the treatment of chronic and acute wounds. These trends highlight a growing emphasis on efforts for consolidation in the market, and enhancing the distribution and supply of wound care products.

Market Size: Key Segments of the Advanced Wound Care Market

The global market size for advanced wound care products is anticipated to grow at an annualized CAGR of 5.15%, during the forecast period, 2023-2035. At present, advanced wound care dressings capture the largest market share (62%) in the overall advanced wound care market. Given the evolution of the healthcare sector towards a mor data centric and artificial intelligence incorporated approach, this trend is likely to change, and wound healing medical devices are anticipated to occupy a significant share during the forecast period. Further, in terms of the type of wound treated, wound care products for chronic wounds are expected to capture the largest market share (~80%) in the overall advanced wound care market, during the forecast period. This can be attributed to the increasing geriatric population, rise in prevalence of chronic disease conditions and occurrence of wounds resulting from surgical procedures (surgical site infections).

Advanced Wound Care Market is Predominantly Led by the Advanced Wound Care Dressings

Close to 45% of the products offered by advanced wound care companies are advanced wound care dressing. This can be attributed to the fact that wound care dressings are easy to manufacture and have wider applicability against various types of wounds, including diabetic foot ulcers, pressure ulcers and venous leg ulcers. Foam dressings, antimicrobial dressings, hydrocolloid dressings, alginate dressings, and composite dressings are some of the most prominent advanced wound care dressings offered by the companies in this domain. It is worth mentioning that in June 2023, the researchers at University of Waterloo in Canada developed a new type of advanced wound care dressing which can not only enhance the healing process but can also relieve pain and act as a drug delivery system in cancer treatment and cosmetic industry. With the growing adoption of AI technology and increasing prevalence of chronic wounds, the opportunities for advanced wound care dressings manufacturers is anticipated to increase during the forecast period.

Regional Analysis: North America Holds the Largest Market Share of Advanced Wound Care Market

Presently, more than 40% of the advanced wound care market is captured by companies based in North America. The market size for advanced wound care in North America is anticipated to grow at a CAGR of 4.59%, during the forecast period (2023-2035). Several factors contribute to the region’s dominance in this domain, including the presence of big pharma companies with well-established research and development divisions that foster innovation and drive the demand for advanced wound care products and the rising prevalence of chronic disease conditions within this geographical region.

Leading Players in the Advanced Wound Care Industry

Examples of top companies offering advanced wound care products include (which have also been profiled in this market report; in alphabetical order) 3M, Arthrex, Advanced Medical Solutions, Cardinal Health, Coloplast, Convatec, DeRoyal, Ethicon, Essity, Fidia Farmaceutici, Integra Life Sciences, Medline Industries, Molnlycke Healthcare, Organogenesis, RTI Surgical, Smith+Nephew, and Zimmer Biomet. Further, this market report includes an easily searchable excel database of all the advanced wound care companies worldwide that advanced wound care products.

Recent Developments Driving the Advanced Wound Care Market Growth

Driven by numerous developmental breakthroughs, results of studies demonstrating the potential of advanced wound care in the treatment of various types of wounds, and the active involvement of the government has garnered considerable attention of various players in advanced wound care market. Some of these recent initiatives have been mentioned below. These developments, even though they took place post the release of the market report, substantiate the overall market trends that have been outlined in the analyses.

• In August 2023, the researchers at the McGill University Health Centre, US developed Swift Ray 1 (a wound healing medical device) which can be connected to the smart phones and wound care software to obtain infrared thermographic and bacterial fluorescence images of wounds.
• In June 2023, the researchers at the University of Birmingham, UK developed an antimicrobial wound care dressing, which has been impregnated with bioactive glass to enhance its efficiency in wound healing.
• In April 2023, the researchers at the Linköping University, Sweden developed a nanocellulose based advanced wound care dressing that can detect early stages of infection.
• In February 2023, the researchers at the Northwestern University, US developed a next generation smart bandage, that can accelerate healing by delivering electrotherapy directly to the site of wound.

Report Coverage

The market research report presents an in-depth analysis, highlighting the capabilities of various companies engaged in this industry, across different geographies. Amongst other elements, the market report features:

• A preface providing an introduction to the full report, Advanced Wound Care Market, 2019-2022 (Historical Trends) and 2023-2035 (Forecasted Estimates).
• An outline of the systematic research methodology adopted to conduct the study on advanced wound care market, providing insights on the various assumptions, methodologies, and quality control measures employed to ensure accuracy and reliability of these findings.
• An overview of economic factors that impact the overall advanced wound care market, which include historical trends, currency fluctuation, foreign exchange impact, recession, and inflation measurement.
• An executive summary of the key insights captured during the research. It offers a high-level view of the current state of the advanced wound care industry and its likely evolution in the short to mid and long term.
• A general overview of the wound care domain, highlighting the different types of wounds and advanced wound care products. Further, it discusses the need for advanced wound care solutions, and different types of advanced wound care solutions. It also highlights the advantages and challenges associated with advanced wound care products. In addition, the chapter also provides a brief overview of the future trends and potential of this industry.
• An in-depth analysis of the current market landscape of the companies involved in manufacturing advanced wound care products. It features a detailed analysis of the industry players, based on several relevant parameters, such as year of establishment, company size (in terms of number of employees) and location of headquarters.
• Furthermore, it provides analysis on product-based parameters, such as type of advanced wound care product (wound care dressings, bioengineered skins and dermal substitutes, and wound healing medical devices), type of advanced wound care dressing (foam dressings, antimicrobial dressings, alginate dressings, hydrogel dressings, hydrocolloid dressings, composite dressings and other types of wound care dressings), type of bioengineered skin and dermal substitute (allografts, autografts, extracellular matrices, growth factors and other dermal substitutes), type of wound healing medical device (negative pressure wound therapy, hyperbaric oxygen therapy, topical oxygen therapy, hydrotherapy and electric stimulation therapy), type of wound treated (acute wounds and chronic wounds).
• An insightful competitiveness analysis of advanced wound care companies based on supplier strength (in terms of years of experience) and company competitiveness (in terms of number of wound care products offered, number of wounds treated, and types of wounds treated).
• Detailed profiles of the prominent advanced wound care companies (shortlisted based on a proprietary criterion) developing advanced wound care products. Each profile features a brief overview of the company, details related to its financial information (if available), advanced wound care product portfolio, recent developments and an informed future outlook.
• An in-depth analysis of completed and ongoing clinical trials of various advanced wound care products, based on several relevant parameters, such as trial registration year, trial phase, trial status, type of wound treated, type of wound care product, trial purpose, age group, type of sponsor, most active player, enrolled patient population, and key geographical regions.
• An analysis of the recent collaborations in the advanced wound care market, based on several relevant parameters, such as year of partnership, type of partnership, purpose of partnership, type of partner, most active players (in terms of number of deals inked) and regional distribution of partnership activity that have taken place in this industry, during the period 2020-2023.
• An in-depth analysis of the factors that can impact on the advanced wound care market growth. It also features identification and analysis of key drivers, potential restraints, emerging opportunities, and existing challenges.

One of the key objectives of the market report was to estimate the current opportunity and future growth potential for the advanced wound care market over the forecast period. the analyst has provided informed estimates on the likely evolution of the market for the forecast period, 2023-2035.

The year-wise projections of the current and future opportunity have further been segmented based on relevant parameters, such as type of advanced wound care product (advanced wound care dressings, bioengineered skins and dermal substitutes and wound healing medical devices), type of advanced wound care dressing (foam dressings, antimicrobial dressings, hydrogel dressings, hydrocolloid dressings, alginate dressings, composite dressings, and other type of wound care dressings), type of bioengineered skin and dermal substitute (allografts, autografts, extracellular matrices, growth factors, and other types of dermal substitutes), type of wound healing medical device (negative pressure wound therapy, topical oxygen therapy, hyperbaric oxygen therapy, hydrotherapy, electric stimulation therapy, skin closure systems / adhesives, and other wound healing medical devices), type of wound treated (acute wounds and chronic wounds), type of acute wound treated, type of chronic wound treated, type of end user (Hospital Care, Home Care / Door to Door Services, and Other Type of End Users), leading advanced wound care manufacturers, and key geographical regions.

In order to account for future uncertainties and to add robustness to the model, the analyst has provided three forecast scenarios, namely conservative, base and optimistic scenarios, representing different tracks of the market growth.

All actual figures have been sourced and analyzed from publicly available information forums and primary research discussions. Financial figures mentioned in this market report are in USD, unless otherwise specified.