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The global advanced wound care market is being driven by the growing availability of well-developed healthcare facilities and the increasing demand for advanced solutions in the healthcare sector. The chronic wound segment dominates the advanced wound care industry globally. While North America accounts for the largest share in the industry due to the availability of advanced products in the region, the Asia Pacific is expected to witness a significant growth rate in the forecast period owing to the growing acceptance of advanced wound care products, rising consumer disposable income, and growing geriatric population in the region. Within the Asia Pacific, in emerging nations like India, the demand for advanced wound care products such as foams, hydrocolloids, alginates, hydrogels, etc. is rising, leading to the growth of advanced wound care industry over traditional wound care market, which is expected to aid the global market as well.
The growing consumer preference for convenient and advanced solutions is leading manufacturers to look for advanced wound care solutions. In September 2020, Integra LifeSciences Holdings Corporation (NASDAQ: IART), a leading player in the industry, announced the acquisition of Rebound Therapeutics, manufacturers of single-use medical devices for use in neurosurgery, that would allow minimally invasive access through the use of optics and illumination for therapeutic and diagnostic purpose. Rebound’s minimally invasive surgical (MIS) technology, featuring integrated optics and illumination, is capable of interfacing with existing operating room monitors, and this acquisition shows Integra’s efforts to address unmet needs in the healthcare sector. Such developments are expected to aid the growth of the advanced wound care market globally in the forecast period.
Market Breakup by Product, Wound-Types, End Use, and Region:
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The major players in the global advanced wound care market are Smith & Nephew plc, Mölnlycke Health Care, B. Braun Melsungen AG, ConvaTec Group plc, Coloplast A/S, Integra LifeSciences, 3M Company, and Cardinal Health, Inc., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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