Download Sample, The Prevalence of Chronic Diseases & Geriatric Population Propel Markets Growth
It is anticipated that there will be a notable increase in the occurrence of acute and chronic wounds owing to factors such as more surgeries, traumatic injuries, and a rising number of chronic conditions such as venous leg ulcers and diabetic foot ulcers and other slow healing wounds which drives the need for more advanced wound healing solutions which can enhance better patient care. Although, the growing geriatric population worldwide, which heals wounds at a slower pace and is more prone to chronic illnesses which draws more attention, also adds to this pattern. Additionally, unhealthy lifestyle choices like obesity and lack of physical activity worsen the occurrence of chronic wounds. The growing trends emphasize the critical necessity for innovative wound care products that can efficiently oversee healing processes, mitigate complications, and enhance patient results. Ongoing improvement in wound care technologies and treatments is essential in order to address the increasing need and improve the well-being of those affected.
For instance, the WHO estimates that by 2030, 1 in 6 individuals worldwide would be 60 years of age or older. The number of persons over the age of 60 will rise from 1 billion in 2020 to 1.6 billion by 2023. Around people 2.1 billion people in the globe will be 60 years or older by 2050. Between 2020 and 2050, the number of people 80 or older is predicted to quadruple, reaching 426 million, thus rapidly increasing geriatric peoples along with increasing occurrences and slow healing wounds in critical patients which is anticipated to drive market growth with enhanced geriatric care.
For instance, the WHO estimates that by 2030, 1 in 6 individuals worldwide would be 60 years of age or older. The number of persons over the age of 60 will rise from 1 billion in 2020 to 1.6 billion by 2023. Around people 2.1 billion people in the globe will be 60 years or older by 2050. Between 2020 and 2050, the number of people 80 or older is predicted to quadruple, reaching 426 million, thus rapidly increasing geriatric peoples along with increasing occurrences and slow healing wounds in critical patients which is anticipated to drive market growth with enhanced geriatric care.
Global Surge in Surgical Procedures Drives Need for Advance Wound care Market
The advanced wound care market was dominated by the moist wound care segment. This predominance can be linked to an increase in surgical procedures and wound cases over the world. For Instance, the Life Span Organization estimates that over 500,000 open-heart surgeries were carried out in the United States. Additionally, 40,000 children in the U.S. have congenital heart surgery, according to AHA Journals. The market for advanced wound care is expected to grow during the forecast period since such procedures take advanced wound care products help treat such wounds quickly and help them recover more quickly.
The main driver of the market is the increase in different traumatic wounds, such those caused by automotive accidents. Additionally, the number of non-fatal injuries required medical treatment has grown in the United States. 210 of the 316 persons who are shot daily in the United States survive, according to a Brady United Organization report. The category is thus expected to grow throughout the projected period due to a rise in the frequency of acute wounds. According to the, the Agency for Healthcare Research and Quality estimated that more than 2.5 million Americans suffer from pressure ulcers each year. The prevalence of pressure ulcers in a therapeutic context may range from 4% to 38%, according to NCBI. Additionally, the American Diabetes Association estimates that 34.2 million Americans, or 10.5% of the nation's population, had diabetes in 2018. The number of people who have diabetic foot ulcers is anticipated to rise due to the growing diabetes population, fueling market expansion.
The main driver of the market is the increase in different traumatic wounds, such those caused by automotive accidents. Additionally, the number of non-fatal injuries required medical treatment has grown in the United States. 210 of the 316 persons who are shot daily in the United States survive, according to a Brady United Organization report. The category is thus expected to grow throughout the projected period due to a rise in the frequency of acute wounds. According to the, the Agency for Healthcare Research and Quality estimated that more than 2.5 million Americans suffer from pressure ulcers each year. The prevalence of pressure ulcers in a therapeutic context may range from 4% to 38%, according to NCBI. Additionally, the American Diabetes Association estimates that 34.2 million Americans, or 10.5% of the nation's population, had diabetes in 2018. The number of people who have diabetic foot ulcers is anticipated to rise due to the growing diabetes population, fueling market expansion.
Recent Trends in Advanced Wound Care Market
- The increasing global geriatric population, prone to chronic conditions such as diabetes and vascular diseases led to a rise in chronic wounds.
- Innovations in wound dressing materials, such as hydrocolloids, hydrogels, and foam dressings, offer enhanced moisture management, bacterial control, and ease of application.
- Growth factors, bioengineered tissues, and skin substitutes are gaining prominence in promoting wound healing.
- There is a growing preference for outpatient wound care management, driven by healthcare cost containment efforts and patient comfort.
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Complexity of Products & Rapid Technological Shifts Hamper the Market Growth
Advanced wound healing materials, such as those made with biologics, growth factors, and bioengineered tissues, require substantial investment in development and manufacturing expertise. Often, these complications hinder smaller companies without sufficient resources and research abilities from entering the market. The complex regulatory environment adds more complexity to entering the market, necessitating adherence to strict standards and approval procedures. Bigger companies with solid infrastructure and financial support usually control this sector, while smaller businesses may find it difficult to compete because they lack the resources and scale to invest in cutting-edge technologies for advanced wound care solutions. However, constant innovations are required to stay competitive in the market due to fast-paced developments in wound care technologies and frequent product introductions, which shorten product lifecycles. Staying updated with developing medical advancements is essential to address shifting healthcare needs and maintain market importance.
Innovative Wound Care Technologies by Industry Key Players Accountable for Development of Market
The introduction of new technologies like biologics and advanced dressings is driven by strategic advancements to enhance treatment effectiveness and patient comfort. Although, companies have the ability to stand out by creating distinctive products that cater to particular wound types or patient requirements, acquiring specialized markets and increasing their market presence. For instance, In May 2024, Arch Therapeutics, Inc, a marketer and developer of novel self-assembling wound care and bio surgical products, announced the company’s first commercial product, AC5 Advanced Wound System. AC5 is cleared by the Food and Drug Administration for the management of partial and full-thickness wounds, such as pressure sores, leg ulcers, diabetic ulcers, and surgical wounds. In addition, In January 2023, Convatec announced the US launch of ConvaFoam a family of advanced foam dressings designed to address the needs of healthcare providers and their patients. ConvaFoam can be used on a spectrum of wound types at any stage of the wound journey, making it the simple dressing choice for wound management and skin protection.
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Market for Advanced Wound Cares is Concentrated Primarily in North America
In 2023, North America held the majority of the revenue and controlled the market for advanced wound care. A strong healthcare infrastructure and a rise in surgical operations are to responsible for this dominance. For instance, 24 million Americans performed minimally invasive cosmetic surgery treatments in 2023, according to the American Society of Plastic Surgeons. Thus, the adoption of advanced wound care treatments to prevent surgical site infections is growing. The market is also expected to be driven by an increase in the number of incidents including traffic accidents, burns, and trauma events globally. For instance, according to the WHO, in 2023, over 7 million individuals in India suffer severe or moderate burns every year. Therefore, throughout the anticipated period, the aforementioned factors are projected to fuel market expansion in Asia Pacific Region.
The market for advanced wound care is anticipated to develop at the greatest rate in Asia Pacific during the forecast period. This might be attributed to the region's growing geriatric population and increased incidence of chronic illnesses brought on by changing lifestyles. For instance, the European Parliament reports that Japan's population is ageing quickly, with 28.7% of people over 65. In addition, the population of the country will be composed of one-third individuals over 65 by 2036. A rise in the geriatric population might increase the demand for advanced wound care products since they are more likely to suffer from various illnesses and impairments.
The market for advanced wound care is anticipated to develop at the greatest rate in Asia Pacific during the forecast period. This might be attributed to the region's growing geriatric population and increased incidence of chronic illnesses brought on by changing lifestyles. For instance, the European Parliament reports that Japan's population is ageing quickly, with 28.7% of people over 65. In addition, the population of the country will be composed of one-third individuals over 65 by 2036. A rise in the geriatric population might increase the demand for advanced wound care products since they are more likely to suffer from various illnesses and impairments.
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The report provides a detailed overview of the advanced wound care market insights in regions including North America, Latin America, Europe, Asia-Pacific, Oceania, and the Middle East and Africa. The country-specific assessment for advanced wound care market has been offered for all regional market share, along with forecasts, market scope estimates, price point assessment, and impact analysis of prominent countries and regions. Throughout this market research report, Y-o-Y growth and CAGR estimates are also incorporated for every country and region, to provide a detailed view of the advanced wound care market. These Y-o-Y projections on regional and country-level markets brighten the political, economic and business environment outlook, which are anticipated to have a substantial impact on the growth of the advanced wound care market. Some key country and region included in the advanced wound care market report as follows:
| Regions | Countries |
|---|---|
| North America | United States, Canada |
| Latin America | Brazil, Mexico, Argentina, Colombia, Chile, Rest of Latin America |
| Europe | Germany, United Kingdom, France, Italy, Spain, Russia, Netherlands, Switzerland, Belgium, Sweden, Austria, Norway, Denmark, Finland, Ireland, Czech Republic, Rest of Europe |
| Asia Pacific | China, India, Japan, South Korea, Australia & New Zealand, Singapore, Thailand, Malaysia, Indonesia, Philippines, Rest of Asia Pacific |
| Middle East and Africa | GCC Countries, South Africa, Egypt, Turkey, Morocco, Israel, Iran, Kenya, Nigeria, Rest of MEA |
Advanced wound Care Market Research Report Covers In-depth Analysis on:
- Advanced wound care market detailed segments and segment-wise market breakdown
- Advanced wound care market dynamics (Recent industry trends, drivers, restraints, growth potential, opportunities in advanced wound care industry)
- Current, historical and forthcoming 10 years market valuation in terms of advanced wound care market size (US$ Mn), volume (Units), share (%), Y-o-Y growth rate, CAGR (%) analysis
- Advanced wound care market demand analysis
- Advanced wound care market pricing analysis over forecast period (by key segment and by region)
- Advanced wound care market regional insights with region-wise market breakdown
- Competitive analysis – key companies profiling including their market share, product offerings, and competitive strategies.
- Latest developments and innovations in advanced wound care market
- Regulatory landscape by key regions and key countries
- Supply chain and value chain analysis in advanced wound care market
- Advanced wound care market sales and distribution strategies
- A comprehensive overview of parent market
- A detailed viewpoint on advanced wound care market forecast by countries
- Mergers and acquisitions in advanced wound care market
- Essential information to enhance market position
- Robust research methodology
- Frequently Asked Questions -
What are the key trends influencing advanced wound care market?
Key trends include the rising adoption of bioactive wound care products, advancements in wound care technologies and a shift towards home care solutions for chronic wound management.
What are the challenges faced by advanced wound care market?
Challenges include high costs associated with advanced wound care products, limited reimbursement policies in some regions and complexity of treatment protocols, which may hinder market growth.
Which regions are driving the growth of advanced wound care market?
North America and Europe are leading the growth of the advanced wound care market, fueled by high prevalence of chronic wounds, advanced healthcare infrastructure and increasing elderly populations.
