Advanced Wound Care Market - Global Forecast to 2022

The global advanced wound care market covers products that are used for the treatment and management of acute and chronic wound, such as moist wound dressings, devices, and biologics, to facilitate the rapid healing of affected body parts.

This market is expected to reach USD 13.07 billion by 2022 from USD 10.43 billion in 2017, at a CAGR of 4.6% during the forecast period. Factors driving the growth of this market include awareness programs for wound treatment and management, advancement & innovation in wound care products, increasing demand for evidenced-based advanced wound care products, increasing funding for wound care oriented R&D activities, increasing number of road injuries, and high prevalence of diabetes.

North America is expected to account for the largest share for Advanced Wound Care Market

The advanced wound care market is geographically segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW). North America is expected to account for the largest share and Asia Pacific is projected to register the highest CAGR during the forecast period. Growth in this region is expected to be centered on China, India, and Japan. Factors such as rising focus of major players on emerging Asian countries and government support are driving the growth of the advanced wound care market in this region.

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Opportunity: Increasing research and introduction of novel treatments for advanced wounds

With the increasing demand for advanced wound care products that offer rapid healing, the development of novel wound care products is on the rise. Active participation of government bodies and research universities will promote advancement in wound care sector. This is likely to create market growth opportunities during the forecast period. Several research organizations are involved in research for advanced wound care products. Some examples in this regard are listed below:

• In July 2017, researchers at the Temple University School of Podiatric Medicine (US) revealed novel strategies to tackle biofilms in chronic wounds. Researchers are developing topical antibiofilm agents that directly affect the bacterial cell function.
• In July 2017, researchers at the George Washington University (GW) found that topically applied nitric oxide-releasing nanoparticles (NO-np) could be used for the treatment of deep fungal skin infections.
• Novel technologies and research have proved that human placental membranes are enriched with mesenchymal stem cell, collagen matrix, and growth factors; these membranes have the ability to support tissue repair and regeneration. Grafix, an Osiris Therapeutics’ product, is the only cryopreserved human placental membrane commercialized product used for the treatment of chronic wounds such as pressure ulcers, venous leg ulcers, and diabetic foot ulcers. Such innovations will create opportunities for manufacturers of advanced wound care products to invest in and widen their existing portfolio.