Advanced Wound Care Market Trends
Advanced wound care market trends can be found in the latest market report published by Credence Research, Inc. “Advanced Wound Care Market – Growth, Future Prospects, and Competitive Analysis, 2017 – 2025,” the global advanced wound care market was valued at US$ 7,532.1 Mn in 2016, and is expected to reach US$ 13,455.1 Mn by 2025, expanding at a CAGR of 6.4% from 2017 to 2025.
Advanced wound care products available in market, includes hydro colloid, hydrofibre, film, hydro gel, collagen, etc. which are designed to treat the complex wounds. Advanced wound care products are used for treatment of both chronic and acute wound.
Due to life style changes, there has been a rise in chronic diseases like diabetes, and vascular diseases giving rise to chronic wounds such as diabetic foot ulcers, arterial ulcers, and pressure ulcers which are the major driving factor for the advanced wound care management. Acute wound due to surgery or traumatic accidents is also on the rise. Development of novel products, enhanced technology and the surge in the geriatric population is anticipated to accelerate the growth of advanced wound care market.
The advanced wound care market is segmented by wound type consisting of burns, pressure ulcers, diabetic foot ulcer, arterial ulcer, surgical and traumatic wounds. Diabetic foot ulcer occupies the largest market in advanced wound care market. Surgery and traumatic wound is anticipated to be the fast growing market during the forecast period 2017-2025.
The advanced wound care market is segmented by product type consisting of advanced wound dressings and active wound care. Advanced wound dressing further sub-segmented into foam dressing, hydrocolloid dressings, hydro fiber dressings, film dressings, alginate dressings, hydro gel dressings, collagen dressing, semi-permeable films. Active wound care further sub segmented into artificial skin and skin substitutes and growth factors. In advanced wound dressing, foam dressing occupies the largest share followed by hydro colloids.
As of the current market scenario, North America dominates the advanced wound care market, with US occupying the maximum share regional market. Surge in prevalence of chronic diseases such as diabetes, vascular disease, development of novel products and technological advancement in wound care are driving the growth of the market. Asia Pacific is anticipated to be the fastest growing market for the advanced wound care management, due to rise in population especially suffering from chronic diseases, increase health awareness and rise in disposable income and investment.