Global Advanced Wound Care Market Report and Forecast 2024-2032

Global Advanced Wound Care Market Outlook

The global advanced wound care market size was valued at USD 10.05 billion in 2023, driven by the increased incidence of road accidents and burn injuries across the globe. The market size is anticipated to grow at a CAGR of 6.9% during the forecast period of 2024-2032 to achieve a value of USD 18.32 billion by 2032.

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Global Advanced Wound Care Market Overview

Advanced wound care refers to the use of advanced solutions, treatments, and techniques, to heal wounds that result from surgical procedures, accidents, and other conditions, such as diabetic wounds, and burn injuries, among others.

The global advanced wound care market demand is likely to be driven by the rising incidence of chronic conditions, especially amongst the geriatric population, coupled with the consequential rise in the number of surgeries. The prevalence  of chronic wounds is nearly 1.51 to 2.21 per 1,000 population globally. These wounds in most circumstances require advanced wound care. The market is expected to witness significant growth in the coming years owing to the increased awareness among healthcare professionals and patients. The increasing demand for advanced wound care therapies and treatments to treat patients and achieve better patient outcomes is expected to aid the market growth in the forecast period.

Other key drivers responsible for the advanced wound care market growth include rising efforts and investments in the research and development of advanced treatments, and increasing collaborations amongst the key players, among others.

Rising Prevalence of Diabetes

Diabetic ulcers, especially foot ulcers, are among the major complications that diabetic patients suffer from. These ulcers are painful and require advanced wound care since the body struggles to heal on its own due to high sugar levels. The demand for advanced wound care is likely to witness robust growth in the coming years as the prevalence of diabetes is increasing at an alarming rate. According to the Institute for Health Metrics and Evaluation , more than 500 million people around the world are currently living with diabetes, including men, women, and children of all ages. Unfortunately, this number is expected to increase by mutli-folds in the coming years and reach an all-time high of around 1.3 billion people within the next thirty years.

Rising Research and Development in the Market to Bring Innovative Changes

The increasing advancement and severity of wounds, depending on the cause, is a major factor calling for some innovation in active wound care products. Biomaterials are common ingredients used to provide a suitable and better environment for the wound to heal better. The increasing traction toward the usage of bioactive materials is further emphasising on the need of more research in the field.

Additionally, the increasing demand for advanced wound care products is playing a crucial role in the development of innovative and effective wound care products in the market. Such developments are significantly propelling the global advanced wound care market growth. For instance, In October 2023, a team of researchers from the National University of Singapore (NUS) developed  an innovative magnetic wound-healing gel promising diabetic wound healing, reducing the rates of recurrence, and in turn, lowering the incidents of limb amputations. This combination of magnetic stimulation with treatment led to effective results in the patients. It healed the diabetic wounds nearly three times more quickly than the conventional approaches. Furthermore, the potential of healing gel is expected to be explored in a wide range of complex wounds such as burns rather than just healing diabetic foot ulcers. Such dedication toward developing new products by researching various elements and ingredients is expected to bolster the market demand during the forecast period.

Investments in Advanced Wound Care

The market is expected to experience significant growth supported by ongoing investments by market players in advanced wound care innovation. For instance, in November 2023, Innosphere Ventures Fund announced  that GelSana Therapeutics, a groundbreaking company in the advanced wound care industry, has secured USD 3.1 million in dilutive and non-dilutive funding for its innovative hydrogel technology. The funding has been invested to drive GelSana's innovative hydrogel technology, with its first product, Cleragel, towards FDA registration and early clinical use. FDA approval will make it easier for this product to be regulated in the market with no legal restrictions, providing a significant solution to a crucial gap in the market, and propelling the advanced wound care market growth.

Strategic Collaborations between Key Players

In November 2023, Kane Biotech Inc., in partnership with ProgenaCare Global LLP (“ProgenaCare”), has launched  a newly rebranded revyve™ Antimicrobial Wound Gel (formerly coactiv+™ Antimicrobial Wound Gel). This gel has been developed to manage ulcers (including diabetic foot and leg ulcers and pressure ulcers), 1st and 2nd degree burns, partial and full-thickness wounds, large surface area wounds, and surgical incisions for adult populations. Expanded applications of revyve™ Antimicrobial Wound Gel include the management of minor skin scrapes, minor cuts, minor lacerations, minor burns (1st degree burns), and abrasions for adult populations. The collaboration would ensure that the product fits well in the affordable price range, which is a factor expected to drive the market demand in the forecast period.

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Global Advanced Wound Care Market Segmentation

Market Breakup by Product Type

• Wound Dressing
  • Foam Dressing
  • Hydrocolloid Dressing
  • Film Dressing
  • Alginate Dressing
  • Hydrogel Dressing
  • Collagen Dressing
  • Other Advanced Dressing

• Active Wound Care
  • Biomaterials
  • Skin-substitute
  • Others

• Wound Care Devices
  • Negative Pressure Wound Therapy (NPWT)
  • Oxygen And Hyperbaric Oxygen Equipment
  • Electric Stimulation Devices
  • Pressure Relief Devices
  • Others

Market Breakup by Wound Type

• Chronic Wounds
  • Pressure Ulcers
  • Diabetic Foot Ulcers
  • Arterial and Venous Ulcers
  • Others

• Acute Wounds
  • Burns and Trauma
  • Surgical Wounds

Market Breakup by End User

• Hospitals

• Clinics

• Ambulatory Surgical Centres

• Homecare Settings

• Others

Market Breakup by Region

• North America

• Europe

• Asia Pacific

• Latin America

• Middle East and Africa

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Global Advanced Wound Care Regional Analysis

The market growth is expected to be led by North America due to factors such as an increased number of cases related to burn injuries and accidents requiring advanced wound care for better healing. According to the data released by the World Health Organization, despite the preventable nature, burn injuries claim nearly 180,000 lives globally. The majority lies in low- and middle-income countries.

The rising accidental injuries occurring due to road accidents and other circumstances are also contributing to the global advanced wound care market share. Data  released by the World Health Organization shows that road traffic crashes claim nearly 1.19 million lives every year. These accidents are also responsible for most of the deaths among people aged between 5-29 years. 92% of global road fatalities occur in low- and middle-income countries, despite these countries having only 60% of the world's vehicles.

The high incidence of road accidents is a major indication for the application of advanced wound care. Advanced wound care has better solutions for injuries taking place due to such incidents which directly contributes to the high demand.

Global Advanced Wound Care Market: Competitor Landscape

In April 2023, 3M announced  the launch of an innovative therapy which is set to revolutionize the advanced wound care realm. For example, 3M Healthcare received the FDA approval for their innovative 3M™ Veraflo™ Therapy, with both 3M™ Veraflo™ Cleanse Choice Complete™ Dressing and 3M™ V.A.C. Veraflo Cleanse Choice™ Dressing. This is the first-ever Food and Drug Administration (FDA) clearance for hydromechanical removal of infectious materials, non-viable tissue, and wound debris. This results in reducing the number of surgical debridements required while promoting granulation tissue formation and creating an environment that supports wound healing.

The key features of the market report include patent analysis, grants analysis, clinical trials analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players.

The major companies in the market are as follows:

• 3M

• Smith & Nephew plc

• Integra LifeSciences Holdings Corporation

• Mölnlycke Health Care AB

• ConvaTec Group plc.

• Coloplast A/S

• Medline Industries, Inc

• Advanced Medical Solutions Group plc

• Hollister Incorporated

• B. Braun Melsungen AG

• DeRoyal Industries, Inc.

• PAUL HARTMANN AG

• Zimmer Biomet

• Cardinal Health

• DermaRite Industries, LLC

• Shield Line

Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Key Highlights of the Report

Advanced Wound Care Market Report Snapshots

Advanced Wound Care Market Size

Advanced Wound Care Regional Analysis

Advanced Wound Care Companies