Modern treatments have been shown to be more effective than traditional treatments for acute and chronic wounds, and modern wound care products are often used in treatment. Strips and alginates are used in surgeries and dressings of chronic wounds to avoid infection, and skin grafts and biomaterials are used to treat wounds that do not heal on their own. The wound care market is expected to grow in the coming years with the launch of new innovative products. The global advanced wound care market is expected to grow strongly at a CAGR of 7.12% from 2023 to 2032. Key factors driving the market growth include increasing number of surgical cases, growing geriatric population, and developed healthcare infrastructure.
Consolidation in the advanced wound care market is a result of large companies having strong product portfolios and effective distribution networks in developing and developed countries. The company has strengthened its market position through strategies such as the launch of innovative products and significant investments in the development of bioactive therapies. For example, in July 2021, has filed an Investigational New Drug (IND) application with the US FDA seeking permission to begin clinical studies of SkinTE products for the treatment of chronic skin ulcers.
By type, the advanced wound care segment will lead the global advanced wound care market in 2022 and is expected to grow significantly in the near future. The lower cost of wound dressings and their superior effectiveness in reducing wound exudation are expected to increase the demand for these products. This segment is also growing due to the increasing use of aggressive treatments such as skin grafts and biologics to treat chronic wounds that have a slow healing process.
Moreover, the growing prevalence of various types of ulcers such as pressure ulcers, venous ulcers and diabetic ulcers is also contributing to the expansion of the market. This type of dressing creates a moist microenvironment, promotes gas exchange and prevents infection while promoting healing.
In terms of application, the acute wound segment is expected to dominate the global advanced wound care market during the forecast period. A key driver of progress in this area is the increase in traumatic injuries, especially from motor vehicle accidents. In addition, the number of non-fatal injuries requiring medical attention has increased in the United States. The market growth is supported by the growing demand for acute wound care products due to the increasing number of surgical procedures worldwide.
For example, 15.6 million cosmetic surgeries were performed worldwide in 2020, according to the American Society of Plastic Surgeons. Due to the important role of acute wound care products in the healing of surgical wounds, the market is expected to witness steady growth in the coming years.
The adoption of advanced wound care techniques is expected to accelerate due to a significant increase in hospital visits for wound care. Hospital costs are expected to increase due to widespread efforts to improve patient care. This growth is likely to propel the field forward as a large number of therapeutic interventions are performed in hospitals. With the increasing prevalence of pressure ulcers in hospitals, the demand for better wound care is also increasing, fueling the market expansion.
Additionally, support from government initiatives to increase public awareness is expected to have a significant impact on the market growth. Another important factor contributing to the growth of the industry is the development of technology. Additionally, rising healthcare costs and improving healthcare infrastructure will accelerate the expansion of the industry.
Although chronic and acute wounds have a widespread presence across the globe, there are many factors hampering the market growth. One is the high price of modern wound care products and the lack of reimbursement for these products in developing countries. According to an economic analysis of negative pressure wound therapy (NPWT) and wound dressings, the average cost of an NPWT pump in the United States is approximately $90, and the average cost of a wound dressing is approximately $3.
Although numerous studies have shown that the overall costs of wound care are higher than NWPT, these costs are higher compared to traditional dressings. Advanced wound care devices such as skin grafts and negative pressure wound therapy are more expensive to use as a treatment modality, and costs are higher for chronic wounds.
November 2022 – ActiGraft+, an innovative wound care system, is now available in Puerto Rico through Redress Medical, a privately held wound care company with offices in the United States and Israel.
October 2022 – Healthium Medtech Limited launches Theruptor Novo, an advanced wound care product for the treatment of diabetic foot and leg ulcers.
North America is expected to become the largest region in the advanced wound care market due to several factors including strong medical infrastructure, growing demand for quality healthcare, favorable reimbursement policies and regulatory reforms in the healthcare industry. Additionally, the growing geriatric population in the region is likely to drive demand for acute wound care products.
Healthsmile Medical will strengthen research and development and cooperation with large companies, and use our huge advantages of low-cost raw materials to provide strong support for new products to the market, so as to reduce the production cost of advanced wound dressings, so that more patients around the world can benefit from the development of advanced technology and the promotion of new products. Because, to serve human health is our constant missions.
Post time: Sep-16-2023