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Global Advanced Wound Care Market to Grow at a CAGR of 4.8% over the Forecast Period of 2022-2027.

According to a new report by EMR titled, ‘Global Advanced Wound Care Market Report and Forecast 2022-2027’, the global advanced wound care market stood at a value of around USD 10.7 million in 2020. The industry is further expected to grow at a CAGR of 4.8% in the forecast period of 2022-2027.

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 Life Sciences 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:

  • By product, the global advanced wound care industry can be divided into infection management, exudate management, active wound care, and therapy devices.
  • By wound-types, the industry is bifurcated into chronic wounds and acute wounds. 
  • It finds end use in sectors like hospitals and clinics, and community health service centres, among others. 
  • Region-wise, the global advanced wound care market can be divided into North America, the Asia Pacific, Europe, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The global advanced wound care market is being driven by the growing acceptance of advanced wound care solutions among consumers over traditional ones and the rising consumer awareness. 
  • The growing geriatric population and rising disposable incomes are providing further impetus to the industry for its growth. 
  • The growing prevalence of chronic wounds and acute wounds is further aiding the industry growth.
  • The increased investment by the government in the healthcare sector, particularly in developing nations, is expected to provide a further boost to the industry.

Key Offerings of the Report:

  • The EMR report gives an overview of the global advanced wound care market for the periods (2017-2021) and (2022-2027). 
  • The report offers historical (2017-2021) and forecast (2022-2027) market information for the products, wound-types, end-uses, and regional markets of the global advanced wound care industry.
  • It also provides an assessment of the industry based on the Porter’s Five Forces model along with a SWOT analysis.

The major players in the global advanced wound care market are Smith and Nephew plc, Mölnlycke Health Care AB, B. Braun Melsungen AG, ConvaTec Group plc, 3M Company, Integra Life Sciences Holdings Corporation, Cardinal Health, Inc., and ConvaTec Group PLC, 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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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

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