The Advanced Wound Therapy Devices Market is projected to reach USD 12.2 Billion by 2032 at 4.2% CAGR during the forecast period 2023-2032. 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. 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.
Segmentation Overview
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.Â
Regional Overview
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.
Pressure wounds, skin ulcers, and other types of wounds that breach the skin are treated in unique ways under the heading of wound care. There is a noticeable increase in marketing new tools and products for wound care. The choice to use medical devices for wound healing is one that practitioners make with knowledge. Advanced wound care (AWC) products are made to treat acute and chronic wounds. Rising rates of chronic wounds, such as ulcers of the veins, diabetic ulcers, arterial ulcers, and pressure ulcers, a growing need for faster wound healing, and an increase in surgeries are a few factors contributing to the market's expansion. They aid in maintaining a moist environment, regulating temperature, allowing oxygen to flow, safeguarding the damaged location from external infection, and reducing discomfort by dressing changes.
Hydrocolloids, hydrogels, film and foam dressings, alginates, and other advanced wound care products are available. One of the main causes of the surge in demand for modern products for wound care is the rising incidence of chronic injuries. Films, gauze, hydrocolloids, hydrogel, and foam dressings are needed to treat chronic wounds. Chronic wounds cost more money to treat and take longer to cure. The traditional method for treating persistent wounds is evolving to include advanced wound care. Due to their efficiency & efficacy in controlling wounds by facilitating faster healing, modern wound care solutions are replacing conventional wound care products at an increasing rate. To reduce excess exudate and speed up healing in either acute or chronic wounds, a suction dressing is used in negative-pressure wound therapy (NPWT).
The market is growing as both burns and persistent wounds become more common. Market participants are using technology improvements that improve wound care management in the continent due to the increased demand for quicker wound recovery. Growing public knowledge of wound care management also expands the market. The field of advanced wound care is expanding and can offer tools and numerous treatments to address chronic and recent wounds. The gadget can treat wounds brought on by conditions like venous illness, diabetes, and pressure ulcers. An important aspect of the market is the development of sophisticated machines that can speed up the healing process. Peripheral vascular disease and diabetes will boost the market and provide new chances.
Competitive Landscape
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.).
Research Methodology
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
April 2022
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. Cholederm, a cutting-edge wound care product created by the Sree Chitra Tirunal Institute for Medical Sciences and Technology, has been recognized as a Class D medical device by the Central Drugs Standard Control Organization (CDSCO). The researchers from the Department of Experimental Pathology in the Biomedical Technology wing of SCTIMST developed cholederm, a substance used to treat wounds using the extracellular matrix of decellularized pig gall bladder tissue. Cholederm is the first domestically manufactured product to meet all regulatory standards, even though using animal-derived products to manufacture advanced wound care material is not new. According to researchers, the scaffold controlled or lessened the scarring responses in subcutaneous, skeletal-muscle, and cardiac tissues. It also could lessen fibrotic scarring in rats who had undergone an artificial myocardial infarction.Segmental Outlook
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Advanced Wound Therapy Devices Market Highlights:
Frequently Asked Questions (FAQ) :
The global advanced wound therapy devices market is expected to reach a valuation of more than USD 12.2 Billion by 2032.
The global advanced wound therapy devices market is expected to exhibit a solid 4.2% CAGR over the forecast period from 2023 to 2032.
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.
Assistant Manager He holds an experience of about 7+ years in market research and business consulting, working under the spectrum of life sciences and healthcare domains. rahul conceptualizes and implements a scalable business strategy and provides strategic leadership to the clients. his expertise lies in market estimation, competitive intelligence, pipeline analysis, customer assessment, etc. in addition to the above, his other responsibility includes strategic tracking of high growth markets & advising clients on the potential areas of focus they could direct their business initiatives
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