The global advanced wound care market was valued at $10,659.6 million in 2015, and it is expected to grow at a CAGR of 7.0% during the period 2016-2022. The advanced wound care market is growing due to increasing geriatric population and increasing awareness about these products combined with its increasing adoption. Increasing incidences cases of obesity and diabetes are also leading to increased demand for advanced wound care product. Among the different types of advanced wound care, the advanced wound dressing segment is expected to witness the fastest growth during the forecast period.
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Advanced wound care product have better therapeutic efficacy as compared to the traditional wound care product, such as gauge, bandage, sponge and others. The utilization of advanced wound care product promote the wound healing process and reduces the recovery time. As a result, demand for advanced wound dressing, wound therapy device and active wound care product is expected to increase. These are used in both inpatient facilities and outpatient facilities to provide better treatment to patients suffering from burns, ulcers, surgical wounds and chronic wounds. Advanced wound dressing include foam dressing, hydrocolloid dressing, alginate dressing, film dressing, hydrogel dressing, collagen dressing and others. Wound therapy device include negative pressure wound therapy (NPWT) device, oxygen and hyperbaric oxygen equipment, electrical stimulation device, and others to promote wound healing. Active wound care product include artificial skin and skin substitutes and topical agents.
Some of the key companies operating in the global advanced wound care market include 3M Company, Coloplast Corporation, Medtronic plc, Smith and Nephew plc, Integra Life Sciences Corporation, Molyncke Health Care, Mo-Sci Corporation, Organogenesis Inc., Acelity L.P. Inc., DeRoyal Industries Inc., DermaRite Industries LLC., Derma Sciences Inc. and Hollister Incorporated.
GLOBAL ADVANCED WOUND CARE MARKET SEGMENTATION
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