The advanced wound care devices market size has grown strongly in recent years. It will grow from $11.36 billion in 2023 to $11.93 billion in 2024 at a compound annual growth rate (CAGR) of 5.1%. The growth observed during the historical period in the field of advanced wound care can be attributed to several factors. These include the prevalence of chronic diseases necessitating specialized wound care, a notable increase in surgical procedures, growing awareness regarding the importance of wound care, government initiatives in healthcare promoting advanced treatment options, and a shift in patient preference towards non-invasive treatments.
The advanced wound care devices market size is expected to see strong growth in the next few years. It will grow to $14.77 billion in 2028 at a compound annual growth rate (CAGR) of 5.5%. The anticipated growth in the forecast period for advanced wound care can be attributed to several key factors. These include the increasing incidence of chronic wounds, the expanding use of telemedicine and remote patient monitoring, the trend towards personalized and precision medicine, regulatory support for innovation in healthcare, and the broader adoption of value-based healthcare models. Major trends expected in the forecast period include the integration of smart technologies in wound care, the development of smart wound dressings with monitoring capabilities, the incorporation of telemedicine in the wound care process, the use of bioactive and antimicrobial dressings, and advancements in wound closure techniques. These trends collectively reflect a shift towards more advanced and personalized approaches in the field of wound care.
The increased number of surgical procedures performed is anticipated to drive the growth of the advanced wound care devices market. Surgical procedures involve treating ailments or injuries by accessing the body, and advanced wound care devices aid in the postoperative healing process by optimizing metabolism and oxygen flow for patients. For instance, in 2021, The American Academy of Facial Plastic and Reconstructive Surgery (AAFPRS) reported a substantial surge in surgical and non-surgical procedures, with plastic surgeons conducting 1.4 million procedures, marking a 40% increase compared to the prior year. This upsurge indicates the rising demand for surgical interventions and consequently, the demand for advanced wound care devices to enhance the postoperative healing process.
The increasing prevalence of diabetes is expected to further bolster the growth of the advanced wound care devices market. Diabetes, a chronic condition characterized by high blood sugar levels, contributes to a higher demand for specialized wound care devices due to the challenges posed by diabetic wounds. The International Diabetes Federation (IDF) estimated a global diabetic population of 537 million in 2021, projected to rise to 643 million by 2030 and 783 million by 2045. Moreover, complications from diabetes, such as diabetic wounds, are anticipated to cause approximately 6.7 million deaths globally among individuals aged 20 to 79 in 2021. The rising prevalence of diabetes underscores the need for continuous innovation in advanced wound care devices to address diabetic wound management effectively.
Technological advancements are a pivotal trend in the advanced wound care devices market. Leading companies in this sector are adopting cutting-edge technologies to fortify their market position. For example, Colzyx Ab, a Swedish manufacturer of wound care devices, developed an innovative wound matrix named WOUNDCOM, which consists of effector molecules derived from the host-defense protein human collagen VI. These molecules have evolved to initiate, stimulate, and regulate normal physiological wound-healing processes while displaying potent antimicrobial effects against both normal and drug-resistant bacteria. The application of Colzyx's effector molecules demonstrates enhanced wound healing, antimicrobial properties, and a reduction in pain, thereby showcasing their potential to address critical aspects of wound care.
Developments in the advanced wound care devices market are taking strides with innovative solutions such as hyperspectral imaging devices aimed at driving efficiency. One such advancement is Swift Ray 1, introduced by Swift Medical, a Canadian digital wound care company, in March 2022. This device stands out due to its wireless integration with smartphone cameras, enabling comprehensive data capture essential for patient support in the treatment, assessment, and monitoring of skin and wound conditions. What distinguishes Swift Ray 1 is its ability to capture and process data across all skin tones, ensuring consistent effectiveness in detecting complications and healing progress. The device's imaging capabilities allow for the assessment of crucial wound characteristics, including tissue health, inflammation, perfusion, infection, bacterial presence, and blood oxygen levels. By identifying potential concerns, it facilitates proactive management, enhancing the healing process.
In December 2021, Essity AB, a Swedish global hygiene and health company, acquired Hydrofera LLC for approximately $116 million. This acquisition aligns with Essity's strategic expansion in Medical Solutions through enhanced resources and technology in the advanced wound care domain. Hydrofera LLC, based in the US, specializes in manufacturing advanced wound care devices. This acquisition is anticipated to fortify Essity's portfolio, allowing them to offer a more comprehensive range of innovative wound care products and technologies to meet evolving healthcare needs.
Major companies operating in the advanced wound care devices market report are 3M company, Coloplast Corporation, ConvaTec Group plc, Smith & Nephew plc, Integra LifeSciences Corporation, Organogenesis Holdings Inc., Medtronic plc, MiMedx Group Inc., Derma Sciences Inc., Johnson & Johnson Private Limited, Molnlycke Health Care AB, Cardinal Health Inc., B. Braun Melsungen AG, Baxter International, Adynxx Inc., Acelity L.P. Inc., BSN Medical GmbH, Covidien plc, DeRoyal Industries Inc., Hollister Incorporated, Human Biosciences Inc., Kinetic Concepts Inc., Medline Industries Inc., Triage Meditech Pvt. Ltd., ACell Inc., Acera Surgical Inc., ACI Medical LLC, Advanced Oxygen Therapy Inc., Imbed Biosciences Inc., Inotec Sicherheitstechnik GmbH, Moleculight Inc., NuVision Biotherapies Ltd.
North America was the largest region in the advanced wound care devices market in 2023. Asia-Pacific is expected to be the fastest-growing region in the advanced wound care devices market report during the forecast period. The regions covered in the advanced wound care devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the advanced wound care devices market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The primary types of advanced wound care devices include moist, antimicrobial, and active variants. Antimicrobial devices incorporate agents designed to eliminate or prevent the growth of microorganisms such as bacteria, spores, or protozoa, specifically targeting bacterial presence in wounds. These devices find applications in treating both chronic and acute wounds and are utilized by various end-users, including hospitals, specialty clinics, home healthcare settings, and others.
The advanced wound care devices market research report is one of a series of new reports that provides advanced wound care devices market statistics, including advanced wound care devices industry global market size, regional shares, competitors with advanced wound care devices market share, detailed advanced wound care devices market segments, market trends, and opportunities, and any further data you may need to thrive in the advanced wound care devices industry. This advanced wound care devices market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
The advanced wound care devices market size is expected to see strong growth in the next few years. It will grow to $14.77 billion in 2028 at a compound annual growth rate (CAGR) of 5.5%. The anticipated growth in the forecast period for advanced wound care can be attributed to several key factors. These include the increasing incidence of chronic wounds, the expanding use of telemedicine and remote patient monitoring, the trend towards personalized and precision medicine, regulatory support for innovation in healthcare, and the broader adoption of value-based healthcare models. Major trends expected in the forecast period include the integration of smart technologies in wound care, the development of smart wound dressings with monitoring capabilities, the incorporation of telemedicine in the wound care process, the use of bioactive and antimicrobial dressings, and advancements in wound closure techniques. These trends collectively reflect a shift towards more advanced and personalized approaches in the field of wound care.
The increased number of surgical procedures performed is anticipated to drive the growth of the advanced wound care devices market. Surgical procedures involve treating ailments or injuries by accessing the body, and advanced wound care devices aid in the postoperative healing process by optimizing metabolism and oxygen flow for patients. For instance, in 2021, The American Academy of Facial Plastic and Reconstructive Surgery (AAFPRS) reported a substantial surge in surgical and non-surgical procedures, with plastic surgeons conducting 1.4 million procedures, marking a 40% increase compared to the prior year. This upsurge indicates the rising demand for surgical interventions and consequently, the demand for advanced wound care devices to enhance the postoperative healing process.
The increasing prevalence of diabetes is expected to further bolster the growth of the advanced wound care devices market. Diabetes, a chronic condition characterized by high blood sugar levels, contributes to a higher demand for specialized wound care devices due to the challenges posed by diabetic wounds. The International Diabetes Federation (IDF) estimated a global diabetic population of 537 million in 2021, projected to rise to 643 million by 2030 and 783 million by 2045. Moreover, complications from diabetes, such as diabetic wounds, are anticipated to cause approximately 6.7 million deaths globally among individuals aged 20 to 79 in 2021. The rising prevalence of diabetes underscores the need for continuous innovation in advanced wound care devices to address diabetic wound management effectively.
Technological advancements are a pivotal trend in the advanced wound care devices market. Leading companies in this sector are adopting cutting-edge technologies to fortify their market position. For example, Colzyx Ab, a Swedish manufacturer of wound care devices, developed an innovative wound matrix named WOUNDCOM, which consists of effector molecules derived from the host-defense protein human collagen VI. These molecules have evolved to initiate, stimulate, and regulate normal physiological wound-healing processes while displaying potent antimicrobial effects against both normal and drug-resistant bacteria. The application of Colzyx's effector molecules demonstrates enhanced wound healing, antimicrobial properties, and a reduction in pain, thereby showcasing their potential to address critical aspects of wound care.
Developments in the advanced wound care devices market are taking strides with innovative solutions such as hyperspectral imaging devices aimed at driving efficiency. One such advancement is Swift Ray 1, introduced by Swift Medical, a Canadian digital wound care company, in March 2022. This device stands out due to its wireless integration with smartphone cameras, enabling comprehensive data capture essential for patient support in the treatment, assessment, and monitoring of skin and wound conditions. What distinguishes Swift Ray 1 is its ability to capture and process data across all skin tones, ensuring consistent effectiveness in detecting complications and healing progress. The device's imaging capabilities allow for the assessment of crucial wound characteristics, including tissue health, inflammation, perfusion, infection, bacterial presence, and blood oxygen levels. By identifying potential concerns, it facilitates proactive management, enhancing the healing process.
In December 2021, Essity AB, a Swedish global hygiene and health company, acquired Hydrofera LLC for approximately $116 million. This acquisition aligns with Essity's strategic expansion in Medical Solutions through enhanced resources and technology in the advanced wound care domain. Hydrofera LLC, based in the US, specializes in manufacturing advanced wound care devices. This acquisition is anticipated to fortify Essity's portfolio, allowing them to offer a more comprehensive range of innovative wound care products and technologies to meet evolving healthcare needs.
Major companies operating in the advanced wound care devices market report are 3M company, Coloplast Corporation, ConvaTec Group plc, Smith & Nephew plc, Integra LifeSciences Corporation, Organogenesis Holdings Inc., Medtronic plc, MiMedx Group Inc., Derma Sciences Inc., Johnson & Johnson Private Limited, Molnlycke Health Care AB, Cardinal Health Inc., B. Braun Melsungen AG, Baxter International, Adynxx Inc., Acelity L.P. Inc., BSN Medical GmbH, Covidien plc, DeRoyal Industries Inc., Hollister Incorporated, Human Biosciences Inc., Kinetic Concepts Inc., Medline Industries Inc., Triage Meditech Pvt. Ltd., ACell Inc., Acera Surgical Inc., ACI Medical LLC, Advanced Oxygen Therapy Inc., Imbed Biosciences Inc., Inotec Sicherheitstechnik GmbH, Moleculight Inc., NuVision Biotherapies Ltd.
North America was the largest region in the advanced wound care devices market in 2023. Asia-Pacific is expected to be the fastest-growing region in the advanced wound care devices market report during the forecast period. The regions covered in the advanced wound care devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the advanced wound care devices market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The primary types of advanced wound care devices include moist, antimicrobial, and active variants. Antimicrobial devices incorporate agents designed to eliminate or prevent the growth of microorganisms such as bacteria, spores, or protozoa, specifically targeting bacterial presence in wounds. These devices find applications in treating both chronic and acute wounds and are utilized by various end-users, including hospitals, specialty clinics, home healthcare settings, and others.
The advanced wound care devices market research report is one of a series of new reports that provides advanced wound care devices market statistics, including advanced wound care devices industry global market size, regional shares, competitors with advanced wound care devices market share, detailed advanced wound care devices market segments, market trends, and opportunities, and any further data you may need to thrive in the advanced wound care devices industry. This advanced wound care devices market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
Table of Contents
1. Executive Summary2. Advanced Wound Care Devices Market Characteristics3. Advanced Wound Care Devices Market Trends and Strategies31. Global Advanced Wound Care Devices Market Competitive Benchmarking32. Global Advanced Wound Care Devices Market Competitive Dashboard33. Key Mergers and Acquisitions in the Advanced Wound Care Devices Market
4. Advanced Wound Care Devices Market - Macro Economic Scenario
5. Global Advanced Wound Care Devices Market Size and Growth
6. Advanced Wound Care Devices Market Segmentation
7. Advanced Wound Care Devices Market Regional and Country Analysis
8. Asia-Pacific Advanced Wound Care Devices Market
9. China Advanced Wound Care Devices Market
10. India Advanced Wound Care Devices Market
11. Japan Advanced Wound Care Devices Market
12. Australia Advanced Wound Care Devices Market
13. Indonesia Advanced Wound Care Devices Market
14. South Korea Advanced Wound Care Devices Market
15. Western Europe Advanced Wound Care Devices Market
16. UK Advanced Wound Care Devices Market
17. Germany Advanced Wound Care Devices Market
18. France Advanced Wound Care Devices Market
19. Italy Advanced Wound Care Devices Market
20. Spain Advanced Wound Care Devices Market
21. Eastern Europe Advanced Wound Care Devices Market
22. Russia Advanced Wound Care Devices Market
23. North America Advanced Wound Care Devices Market
24. USA Advanced Wound Care Devices Market
25. Canada Advanced Wound Care Devices Market
26. South America Advanced Wound Care Devices Market
27. Brazil Advanced Wound Care Devices Market
28. Middle East Advanced Wound Care Devices Market
29. Africa Advanced Wound Care Devices Market
30. Advanced Wound Care Devices Market Competitive Landscape and Company Profiles
34. Advanced Wound Care Devices Market Future Outlook and Potential Analysis
35. Appendix
Executive Summary
Advanced Wound Care Devices Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on advanced wound care devices market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Reasons to Purchase
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- Measure the impact of high global inflation on market growth.
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- Understand customers based on the latest market shares.
- Benchmark performance against key competitors.
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- All data from the report will also be delivered in an excel dashboard format.
Description
Where is the largest and fastest growing market for advanced wound care devices? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? This report answers all these questions and many more.The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
- The impact of higher inflation in many countries and the resulting spike in interest rates.
- The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Scope
Markets Covered:1) By Product: Moist; Antimicrobial; Active
2) By Application: Chronic Wounds; Acute Wounds
3) By End User: Hospitals; Specialty Clinics; Home Healthcare; Other Types
Companies Mentioned: 3M company; Coloplast Corporation; ConvaTec Group plc; Smith & Nephew plc; Integra LifeSciences Corporation
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery format: PDF, Word and Excel Data Dashboard.
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- 3M company
- Coloplast Corporation
- ConvaTec Group plc
- Smith & Nephew plc
- Integra LifeSciences Corporation
- Organogenesis Holdings Inc.
- Medtronic plc
- MiMedx Group Inc.
- Derma Sciences Inc.
- Johnson & Johnson Private Limited
- Molnlycke Health Care AB
- Cardinal Health Inc.
- B. Braun Melsungen AG
- Baxter International
- Adynxx Inc.
- Acelity L.P. Inc.
- BSN Medical GmbH
- Covidien plc
- DeRoyal Industries Inc.
- Hollister Incorporated
- Human Biosciences Inc.
- Kinetic Concepts Inc.
- Medline Industries Inc.
- Triage Meditech Pvt. Ltd.
- ACell Inc.
- Acera Surgical Inc.
- ACI Medical LLC
- Advanced Oxygen Therapy Inc.
- Imbed Biosciences Inc.
- Inotec Sicherheitstechnik GmbH
- Moleculight Inc.
- NuVision Biotherapies Ltd.
Methodology
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