Demand of advanced wound care will remain high in medical sector. This trend will continue due to the increasing cases of chronic and surgical wounds in the industry
LONDON, UK / ACCESSWIRE / March 22, 2021 / Adoption of advanced wound care products to grow with the rising prevalence of chronic and surgical wounds, with a latest report by Fact.MR estimating revenues to expand at nearly 4% CAGR through 2021. Rising cases of type-1 diabetes and diabetic ulcers has leveraged the utilization of advanced wound care treatments and products. Hence, fostering the sales of advanced wound care market.
According to the study by Fact.MR, the advanced wound care market is poised to reach a value nearly US$ 15 Bn by 2030-end. Burgeoning cases of chronic diseases such as diabetes and cancer in regions like North America and Europe are prompting the healthcare professionals to invest more in advanced healthcare infrastructure and R&D activities. Therefore, bolstering the demand of advanced wound care market.
For instance, according to National Institute of Health in U.S., over 1.25 million burn cases and 6.5 million chronic skin ulcer cases were registered in 2020, that accounted for an estimated US$ 15 billion in U.S. health care costs for chronic wound treatments. Acknowledging this statistic, the advanced wound care market is expected to expand further in the upcoming years.
"Prominent manufacturing companies are launching their product in U.S. as the cases for chronic wounds are registered more in the region, accelerating the demand for advanced wound care products and prompting higher production," says a Fact.MR analyst.
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Key Takeaways
- North America and Europe to collectively dominate the market
- Wound cleansers and foam dressings continue to be most lucrative products
- East and South Asia to emerge as a potential market, backed by expanding manufacturing companies
- Hospitals to remain lucrative segment owing to the higher footfalls of the patients for chronic wound and high healthcare infrastructure
- US to emerge as a lucrative market while China to witness significant growth through 2030
Advanced wound care Market- Prominent Drivers
- High prevalence of chronic and surgical wounds has increased the usage of advanced wound care products, accelerating the demand
- Growing potential of developing economies and advanced healthcare infrastructure to create attractive opportunities for manufacturers
Advanced wound care Market- Key Restraints
- High cost of advanced wound care products and chronic wound treatments are likely to hinder sales
- Non-absorbent property of semi-permeable films dressing and risk of getting a skin infection likely to cause a restrain
Discover more about the advanced wound care market with 91 figures and 24 data tables, along with the table of contents. You will also find detailed market segmentation on https://www.factmr.com/report/4822/advance-wound-care-market
Competitive Landscape
B. Braun Melsungen AG, Molnlycke Healthcare, ConvaTec Group PLC., Coloplast A/S, Johnson and Johnson, Medline Industries Inc., 3M, Essity AB (BSN Medical), and Smith & Nephew PLC are some of the key players profiled by Fact.MR. Leading players are inclined towards using key strategies such as acquisition for expanding the product portfolios for further expansion of their revenue.
For instance, in 2018, B. Braun Melsungen AG launched 1-Ounce Prontosan Wound Gel X, with microbial colonization resistance within the dressing that prevents skin infection and softens necrotic tissue. The launch was approved by FDA and was expected to generate new revenue prospects for the company.
Likewise, in November 2020, Sanara Medtech announced the launch of BIAKOS Antimicrobial wound gel as well as viral testing results for BIAKOS skin and wound cleanser, that provides 93% of bacterial reduction within one hour of application. The launch benefitted the organization across various regions.
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More Valuable Insights on Advanced wound care Market
Fact.MR, in its new offering, presents an in-depth analysis on the global advanced wound care market. The study divulges essential insights on the Advanced wound care market on the basis of product (wound cleansers, honey dressings, antimicrobial gels, semi-permeable films dressing, skin protectants, alginate dressings, hydrocolloid dressings, foam dressings, and others), end-user (hospitals, ambulatory surgical centers, and specialty clinics), and key regions (North America, Latin America, Europe, East Asia, South Asia, Oceania, and Middle East & Africa (MEA)).
Key Questions Covered in the Report
- Which region will remain the most lucrative for advanced wound care market?
- Which product type holds the major market share for advanced wound care?
- What will be the key drivers for the advanced wound care market?
- What will be the challenges that key players would face due to Covid-19?
- What will be the market outlook for advanced wound care in the upcoming years?
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SOURCE: Fact.MR