Advanced Wound Care Market Analysis

Advanced Wound Care Market Analysis

 The wound dressings segment dominated more than 54% of the advanced wound care market share in 2020 led by the increasing number of road accidents. For instance, according to the National Crime Records Bureau (NCRB) data, road accidents in India injured 442,996 people and killed 181,113 people in 2019. As a result, wound dressings are in high demand. The market will also expand as the prevalence of chronic, surgical, and traumatic wounds rises. Furthermore, the market would benefit from technical developments and launch of next generation advanced kits for wound dressing.

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The diabetic wound segment accounted for USD 1.2 billion in 2020. Growing prevalence of diabetes among adults and geriatric population will flourish the industry progression. Additionally, in some cases a major share of the population suffering with diabetes undergo non-traumatic amputations.

The hospital segment was valued at around USD 3.8 billion in 2020. Increasing healthcare expenditure to provide improved patient care along with large number of treatment procedures conducted in hospitals will accelerate the segment growth. In addition, rising incidence of hospital-acquired pressure ulcers increases the demand for advanced wound care that will flourish the industry value.

North America advanced wound care market captured 40.5% of revenue share in 2020 driven by the presence of well-developed healthcare facilities in the U.S. and Canada and availability of several treatment options. Moreover, the increasing prevalence of chronic injuries across the U.S. coupled with increasing healthcare spending is also predicted to stimulate the industry demand in the coming years.