Advanced Wound Care Management Market: Trends, Analysis and Forecast

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Advanced wound care is developed to treat both acute and chronic wounds. Traditional methods of treating a wound are rapidly replaced by advanced wound care because of their efficiency and effectiveness in managing a wound, along with providing faster healing. Advanced wound care products include hydrocolloids, hydrogels, film and foam dressing, and alginates. They maintain a hydrated and controlled environment, keep the temperature constant, allow oxygen flow, and protect the wound from external infection. Awareness programs, like the Advanced Wound Care Awareness Week, which is celebrated every year from June 1 to June 5, increases chronic diseases like diabetes and obesity, technological advancements, and increased adoption of this method by the hospitals drive the market. 

Surge in Trauma Wounds, Ulcer Wounds and Diabetes are Likely to Drive the Market

The trauma caused by road crashes can push the market growth for advanced wound care forward. According to a 2018 study of the World Health Organisation (WHO), globally, 20-50 million road accidents arise annually amongst the people of 15-29 years and cause 1.25 million deaths per year. 

Today the increase in the number of diabetic patients has also increased the number of foot ulcers caused by diabetes. This can thus be a significant factor driving the growth of the market.  However, the price of treating foot ulcers increases with age; therefore, the high cost of treatment can hinder the market growth. 

 

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Global Performance of Advanced Wound Care Market

Owing to active product launches by major companies in the United States, North America is expected to create significant revenue. For instance, in 2019, Smith & Nephew launched a product called PICO 7Y, which allowed the treatment of two wounds simultaneously. It consists of a Negative Pressure Wound Therapy (NPWT) pump, which sucks all the excess fluids from the wound and protects the injured area from bacteria. 

The Asia Pacific is expected to gain a significant pace in the future attributed to the large population, especially in China and India, a rise in disposable income, and an increase in geriatric patients.  

Major Market Players Operating in the Advanced Wound Care Management Market

Some of the vital competitors are Johnson and Johnson, 3M, Adynxx Inc., Medline Industries, Medtronic Plc, Smith and Nephew Plc, Integra Life sciences, Coloplast, Kinetic Concepts, Leap Therapeutics, Hematris Wound Care GmbH, Baxter international, and ConvaTech Group, among others. These companies are focused on launching new and better products to enhance their market position. In 2019, 3M acquired Acelity and KCI (its subsidiary), a wound care product provider company. This helped 3M in acquiring a larger market share in advanced wound care management.  Further, in 2017, SANUWAVE Health Inc. received approval from the FDA to market their first shock wave device intended to treat foot ulcers, the device was called DermaPACE. This innovation helped the company to have a competitive edge over its competitors.

 

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