Advanced Wound Therapy Devices Market at CAGR of 3.8% to hit $ 11465.09 Million by 2030
Advanced Wound Therapy Devices Market Overview
By 2030, the Advanced Wound Therapy Devices Market is projected to reach USD 11465.09 Million by 2030 at 3.8% CAGR during the forecast period 2022-2030. It could be useful for chronic wounds and the high prevalence of diabetes. Due to people changing lifestyles and getting dependent on water, food and not getting proper physical health. The rise of the aging population and technological development in every industry push market growth in the forecast period. The market will gain a CAGR of 6.70% from 2018 to 2023. Advanced wound care is a growing sector that can provide devices and many solutions to manage chronic and acute wounds. The device can treat wounds caused by diseases such as pressure ulcers, diabetes, venous disease, and others. The development of advanced machines which can lessen the healing time is a great factor for the market. Diabetes and peripheral vascular disease will foster the market and open up new opportunities for the market. The growth opportunities and market drivers will exhibit an actual growth rate. Several market players from different regions will form new ways and, hence, the market will foster.
The advanced wound therapy devices market is segmented by type and end-user. Types of therapy devices include electric stimulation devices, hyperbaric oxygen equipment, pressure relief devices, negative pressure wound therapy systems, and others. ‘Others’ include ozone-oxygen therapy, electromagnetic therapy, and intermittent pneuamtic compression. End-users outlined in the advanced wound therapy devices market report include home care settings, hospitals & clinics, and others.
Based on regions, the advanced wound therapy devices market is segmented into the Americas, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA). The Americas can dominate the global market owing to various advanced wound treatment options. According to the Intermountain Healthcare article in 2017, nearly 6.5 million people in the U.S. have chronic wounds. On the other hand, the APAC region is expected to display a robust CAGR over the forecast period thanks to awareness of negative pressure wound therapy among patients.
Key players in the advanced wound therapy devices market report include Smith & Nephew plc (U.K.), Mölnlycke Health Care AB (Sweden), B. Braun Melsungen AG (Germany), ConvaTec Inc. (U.K.), Cardinal Health (U.S.), KCI Licensing, Inc. (U.S.), Lohmann & Rauscher GmbH & Co. KG (Germany), DeRoyal Industries, Inc. (U.S.), Medela AG (Switzerland), Perry Baromedical (U.S.), Triage Meditech Pvt. Ltd. (India), and Sechrist (U.S.).
By employing meticulous strategies, competent data analysts of Market Research Future collect information and study them extensively before predicting the future market size with a detailed listing of the relevant market segments. Interviews with prime decision makers of various trendsetting companies of the apposite market give the primary research much prominence. The secondary method includes a minute analysis of the present and the past trends to have a better grasp of the upcoming market scenario. To increase the precision of the obtained data, top-down & bottom-up approaches have been integrated into the system which gives a walk-through of the demand and supply equation. Furthermore, by adhering to credible resources such as annual reports, SEC filings, and white papers, our data analysts empower themselves with subtle comprehension of the germane product before proceeding to discuss market factors. The intent is to provide a holistic view of the sector by judging it against irreproachable parameters and enriching it with significant inputs.Recent Development
Baptist Health Paducah was one of four wound care centers out of over 600. This is to receive the award. In 2019 the center also won this award. Baptist Health Paducah's Wound Care Center received the Center of the Year Award from Healogics, a company that provides advanced wound care treatment equipment.
The new president of human bioscience is Rohan Jain, and the news was announced recently. The Kollagen biotechnology helps the body heal in ways not present before.
Kerecis®, the company pioneering the use of fish skin and fatty acids in cellular therapy, tissue regeneration, and protection, announced MariGen™ Expanse, the newest addition to Kerecis' product offerings for chronic wound management.
For the scope of the report, the advanced wound therapy devices market is segmented in the following manner
The global advanced wound therapy devices market is expected to reach a valuation of more than USD 11465.09 Million by 2030.
The global advanced wound therapy devices market is expected to exhibit a solid 3.8% CAGR over the forecast period from 2022 to 2030.
The increasing prevalence of diabetes and other diseases that cause chronic wounds is likely to be a major driver for the advanced wound therapy devices market.
Lack of awareness and high prices of the devices are the major restraints on the advanced wound therapy devices market.
Negative pressure wound therapy systems dominate the global advanced wound therapy devices market, accounting for more than 42% of the market in 2017.