CHICAGO, Aug. 14, 2020 /PRNewswire/ -- According to the new market research report "Advanced Wound Care Market by Product [Dressings (Foam, Hydrocolloid, Alginate, Film), NPWT, Debridement Devices, Grafts, Matrices, Topical Agents], Wound Type (Surgical, Traumatic, Ulcers, Burns), End User (Hospital, Homecare) & Region - Global Forecast To 2025", published by MarketsandMarkets™,the global Advanced Wound Care Market is expected to reach USD 16.5 billion by 2025 from USD 10.3 billion in 2020, at a CAGR of 9.8%.
The Growth in this market is largely driven by the rapidly growing geriatric population, rising incidence of diabetes, technological advancements in wound care products, funding for wound care research, and growing awareness of wound management.
The dressings segment accounted for the largest share of the market, by product segment, in 2019
Based on product, the market is segmented into dressings; devices & accessories; grafts & matrices and topical agents. The dressings segment accounted for the largest share of the market in 2019. Factors driving the growth of this segment include the increasing incidence of diabetes and the rising demand for innovative and advanced wound dressings across the globe.
Hospitals, ASCs, and Wound Care Centers segment to register the highest growth rate during the forecast period
Based on end user, the market is segmented into hospitals, ASCs, and wound care centers; home care settings; and other end users. The hospitals, ASCs, and wound care centers segment is expected to account for the highest share in 2019. The large share of this segment can be attributed to factors such as the growing prevalence of surgical and chronic wounds; rising incidence of associated SSIs and HAIs; and increasing incidences of burn injuries.
North America is the largest regional market for advanced wound care market
The global market is segmented into North America, Europe, the Asia Pacific, and the Latin America and Middle East and Africa. The North American market is expected to account for the highest market share in 2019. The large share of this regional segment can be attributed to the growing prevalence of chronic conditions resulting in chronic, surgical, and traumatic wounds; the increasing incidence of burn injuries; increasing spending on surgical and chronic wounds; and technological advancements in this region.
The major players operating in advanced wound care market are Smith & Nephew Plc. (UK), Mölnlycke Health Care AB (Sweden), B. Braun Melsungen Ag (Germany), ConvaTec Group (UK), Coloplast A/S (Denmark), Integra LifeSciences Holdings Corporation (US), 3M Group (US), Cardinal Health Inc. (US), Paul HARTMANN (Germany), Medline Industries (US), Lohmann & Rauscher (Germany), Advancis Medical LLC (UK), Organogenesis (US), MiMedx Group (US), DeRoyal Industries Inc. (US), Winner Medical Co. Ltd. (China), Kerecis (Iceland), Hollister Inc. (US), Shield Line (US), Welcare Industries SPA (Italy), Misonix (US), MilLaboratories Pvt. Ltd. (India), ACell (US), Zimmer Biomet (US), and DermaRite Industries LLC (US).
Wound Dressings Market by Type (Traditional, Advanced (Alginate, Collagen, Hydrogel, Foam, Hydrocolloid, Film)), Wound Type (Traumatic, Surgical, Diabetic Foot, Venous Leg Ulcer & Burns), End User (Hospital, ASCs, Homecare) - Global Forecast to 2025
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