Latin America Advanced Wound Care Market Size, Analysis: By Product: Infection Management, Exudate Management, Active Wound Care, Therapy Devices; By Wound Type: Chronic Wounds, Acute Wounds; By End Use: Hospitals and Clinics, Community Health Service Centres; Regional Analysis; Competitive Landscape; 2024-2032

Latin America Advanced Wound Care Market Outlook

The Latin America advanced wound care market size reached a value of approximately USD 535.78 million in 2023. The market is expected to grow at a CAGR of 5.50% between 2024 and 2032, reaching a value of around USD 730.88 million by 2032.

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Key Trends in the Market

Advanced wound care (AWC) refers to the products and therapies used to treat wounds when conventional treatments have not shown significant improvements in the patient. AWC can include the use of hydrocolloids, hydrogels, film and foam dressings, alginates, and technologies like Negative Pressure Wound Treatments (NPWT) and hyperbaric oxygen therapy equipment. Various types of advanced wound care techniques are used based on the wound type to enable faster healing.

• The number of people in the 60+ age range is rising quickly throughout the Latin America region. Since older people are more susceptible to chronic conditions like diabetes, cancer, cardiovascular disease, and neurological disorders, this will likely surge the Latin America advanced wound care market demand.

• The increased prevalence of acute injuries and the rising number of surgeries have a positive impact on the growth of the advanced wound care market in Latin America. In cases of severe acute injuries that show limited potential of healing with standardised wound care, advanced wound care is commonly used.

• Advanced wound care products are also being favoured as they increase oxygen flow, protect the damaged location from exogenous infection, help maintain a consistent body temperature, and decrease pain associated with dressing changes. These features facilitate quick healing and encourage cell proliferation, which raises the need for advanced wound care products, thus aiding the Latin America advanced wound care market growth.

• Also, since advanced wound care promotes quick wound healing, these products and technologies are becoming the standard solution for a number of conditions and wounds of specific complexities. As a result, the need for wound care products is growing due to the rising prevalence and complexity of wounds, including infections and ulcerations (such as leg or foot ulcers) that need to be treated.

Latin America Advanced Wound Care Market Analysis

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The market on the basis of product is segmented into infection management, exudate management, active wound care, and therapy devices. Based on wound type, the market is bifurcated into chronic wounds and acute wounds. On the basis of end use, the market is divided into hospitals and clinics, and community health service centres. The major countries in the advanced wound care market of Latin America are Brazil, Argentina, and Mexico, among others.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model, along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the Latin America advanced wound care market, covering their competitive landscape and the latest developments like mergers, acquisitions, investments, and expansion plans. 

• Smith & Nephew Plc

• Essity Aktiebolag

• Coloplast A/S

• ConvaTec Group Plc

• Mölnlycke Health Care AB

• 3M Company

• Paul Hartmann AG

• Others

Market Share by Wound Type

Based on wound type, chronic wounds account for a sizable share in the Latin America advanced wound care market and are expected to witness steady growth in the coming years. Chronic wounds typically have already been attempted to be treated by conventional wound care methods which have shown limited results, often worsening over time. As chronic wounds may fester and lead to severe infections and complications, there is greater importance on treating them through advanced wound care products, techniques, and devices. The increasing prevalence of diabetic foot ulcers, venous pressure ulcers, and other chronic wounds are likely to drive the Latin America advanced wound care market expansion.

Market Share by End Use

Hospitals and clinics held a dominant position in the advanced wound care market in Latin America in terms of end use, supported by the improvements in healthcare infrastructure in countries in the region. An increase in surgical operations and hospital admissions are the major factors that have contributed to the segment's growth. The Latin America advanced wound care market is also being bolstered by an increase in the number of procedures performed in the region. Increase in hospital admissions for chronic wounds such as pressure ulcers, venous leg ulcers, diabetic foot ulcers, along with the rising incidence of pressure ulcers and infections contracted in hospitals are contributing to the market share of hospitals and clinics. 

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Competitive Landscape

Smith & Nephew Plc, headquartered in Hertfordshire, England is a global medical technology company specialising in advanced wound management products, arthroscopy products, therapy products, and orthopaedic reconstruction products. Founded in 1856, the company's advanced wound management segment comprises of advanced wound bioactives, advanced wound care, and advanced wound devices.

Coloplast A/S, established in 1957 with its headquarters in Humlebaek, Denmark, creates products and services to improve the lives of people with private and personal medical issues. The company creates products for skin care, wound healing, mastectomy, incontinence, and ostomies, catering to medical experts, distributors, and consumers globally. The research initiatives of Coloplast are carried out in collaboration with expert providers and user groups.

ConvaTec Group Plc is a multinational medical products and technology firm which was founded in 1978 with headquarters Berkshire, England. The company focuses on solutions for the management of chronic illnesses and holds a leading market positions in continence care, advanced wound care, ostomy care, and infusion care. Its solutions offer a variety of therapeutic and financial advantages, such as the avoidance of infections, defence of vulnerable skin, enhanced patient outcomes, and decreased overall cost of treatment.

Other market players include Essity Aktiebolag, Mölnlycke Health Care AB, 3M Company, and Paul Hartmann AG, among others.

Key Highlights of the Report

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.