Advanced Wound Care Market size was valued at USD 12.68 billion in 2024 and is projected to exceed USD 31.19 billion by the end of 2037, expanding at over 7.1% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of advanced wound care is evaluated at USD 13.41 billion.
Increasing disorders among people across the globe that take a long time to heal, such as anemia, cancer, and diabetes, are fueling the market’s growth. Chronic diseases, lifestyle disorders, and other autoimmune conditions can cause wounds and injuries sustained to not heal properly or at all. For instance, anemia is a disorder in which the body does not produce enough healthy red blood cells. This can cause slower healing of wounds, as its red blood cells are in charge of transporting oxygen throughout the body, and a shortage of oxygen can hamper the healing process. As per the Centers for Disease Control and Prevention, the number of deaths per 100,000 population from anemia in the U.S in 2020 was 1.7 people.
The advanced wound care is used to heal the infection at a faster rate, as there is a high requirement to pay close attention to wounds arrived owing to diabetes. Therefore, rising cases of diabetes across the world are estimated to fuel the global advanced wound care market’s growth during the forecast period. In America, nearly 38 million people have diabetes as of 2021 as per the Centers for Disease Control and Prevention.
Growth Drivers
Challenges
Base Year |
2024 |
Forecast Year |
2025-2037 |
CAGR |
7.1% |
Base Year Market Size (2024) |
USD 12.68 billion |
Forecast Year Market Size (2037) |
USD 31.19 billion |
Regional Scope |
|
End-user (Hospitals, Specialty Clinics, Home Healthcare)
The global advanced wound care market is also segmented and analyzed for demand and supply by end-user into hospitals, specialty clinics, and home healthcare. Out of these, the hospital segment is anticipated to hold the largest market size by the end of 2037. This can be attributed to the large number of patients who require sophisticated wound care, and/or are admitted to hospitals, either for surgery or the treatment of chronic illnesses such as diabetes or pressure ulcers. Hospitals also have the equipment and people needed to offer sophisticated wound care, such as growth factor treatments and negative pressure wound therapy (NPWT). It was found, for instance, that there are about 6,100 hospitals in the United States in 2022.
Application (Chronic, Acute Wounds)
The global advanced wound care market is segmented and analyzed for demand and supply by application into chronic wounds, and active wounds. Out of these, chronic wounds are anticipated to hold the largest market size by the end of 2037 on account of the increasing prevalence of chronic wounds as in the case of diabetes, pressure ulcers, and other diseases. The incidence of chronic ulcers in 2018 was over 2 people per 1000 population and for chronic leg ulcers, it ranges at 1 person per 1000 people.
Our in-depth analysis of the global advanced wound care market includes the following segments:
By Application |
|
By Indication |
|
By Product Type |
|
By End-User |
|
North America Market Forecast
The North America advanced wound care market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2037. A strong healthcare infrastructure and an increase in surgical operations are anticipated to rise the market’s growth in the region. Thus, the adoption of advanced wound care treatments to stop surgical site infections is growing. The market is also expected to be driven by an increase in the frequency of incidents such as traffic accidents, burns, and trauma events worldwide. Additionally, rising disposable income to spend on facial corrections and growing awareness among people regarding advanced wound care management devices are estimated to propel the market’s growth during the forecast period. In 2019, about a 2% increase is observed in per capita disposable income in the North America region, as per the estimations. Furthermore, the expansion of the global advanced wound care market in this region is being aided by the rising number of acquisitions made by renowned businesses based in North America. The growth is also supported by demographic shifts, rising patient awareness, and a highly developed market for wound care products.
Arch Therapeutics, Inc. declared the first shipments of AC5 advanced wound system under its new reimbursement program. AC5 was a synthetic self-assembling wound care product that allowed clinicians with multimodal support in all stages of the wound healing process.
Convatec Group PLC entered into an agreement to acquire Triad Life Sciences Inc which develops biologically derived innovative products to meet the requirements in surgical and chronic wounds and burns.
Author Credits: Radhika Pawar
Copyright © 2024 Research Nester. All Rights Reserved
FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.
Have questions before ordering this report?