Advanced Wound Care Market Expected to Reach $17.8 Billion by 2032—Allied Market Research

According to a new report published by Allied Market Research, titled, “Advanced Wound Care Market," The advanced wound care market was valued at $10.3 billion in 2022, and is estimated to reach $17.8 billion by 2032, growing at a CAGR of 5.6% from 2023 to 2032. Advanced wound care refers to a specialized approach in wound management that goes beyond basic dressings and includes a range of advanced techniques, products and therapies designed to optimize the wound healing process, reduce the risk of infection and improve outcomes in the treatment of acute and chronic wounds.

The increase in prevalence of chronic wounds is a primary driver of the advanced wound care market. Chronic wounds, including diabetic ulcers, venous leg ulcers and pressure ulcers, represent a substantial healthcare challenge. There is an increase in the incidence of chronic wounds owing to several factors, including the aging population, surge in chronic diseases such as diabetes and obesity, and longer life expectancies. The rise in incidence of diabetes has driven the demand for advanced wound care products, especially in the management of diabetic foot ulcers (DFUs). 

Traditional wound care is often ineffective for these complex wounds, which can result in severe complications if not properly managed. Moreover, advanced wound care offers specialized dressings, such as hydrogels and bioactive dressings, that maintain an optimal wound healing environment, stimulate tissue regeneration and reduce the risk of infection. In addition, negative pressure wound therapy (NPWT) has emerged as a innovative technology that significantly expedites the healing process of DFUs by promoting blood flow to the wound bed and removing excess wound exudate.

Further, rise in prevalence of obesity has contributed to the demand for advanced wound care market trends, particularly in the prevention and management of pressure ulcers, a common complication among obese individuals. These ulcers often develop in areas where the skin is subjected to constant pressure and friction. Advanced wound care offers specialized pressure redistribution devices and advanced dressings designed to reduce these forces on the skin, effectively preventing pressure ulcers. Furthermore, the increased prevalence of type 2 diabetes among obese individuals underscores the need for advanced wound care, as these patients may experience both diabetic and pressure ulcers simultaneously.

Moreover, elderly individuals are more susceptible to a range of health issues, including chronic diseases, reduced mobility and age-related changes in skin integrity. These factors collectively make the elderly population more prone to wounds, especially chronic wounds such as pressure ulcers, venous leg ulcers and diabetic foot ulcers. The higher prevalence of wounds in the geriatric population increases the demand for advanced wound care solutions. In addition, aging is associated with a decline in the body's natural wound healing processes. Older individuals often experience delayed wound closure, reduced tissue regeneration, and a weakened immune response. These age-related factors make advanced wound care interventions, which facilitate and expedite the healing process, crucial for the geriatric population, thereby driving the demand for advanced wound care products. 

Moreover, technological advancements have significantly transformed the landscape of wound care, especially in dealing with complex wounds. These innovations have brought about new solutions, improved patient outcomes, and enhanced the efficiency of wound management. Technological advancements include specialized wound dressings, such as foam dressings, bioactive dressings and skin substitutes, incorporating biological materials & growth factors, have proven invaluable in the management of complex wounds, including chronic ulcers and burns and thereby, propel the advanced wound care industry.

In addition, negative pressure wound therapy (NPWT), also known as vacuum-assisted closure, revolutionizes wound care by efficiently removing excess wound exudate, reducing swelling, promoting blood flow and minimizing infection risk. Advanced surgical techniques, such as precise debridement and the use of skin grafts and skin substitutes, have greatly improved wound management, particularly for extensive or burn wounds. The use of growth factors and cytokines further enhances tissue repair and wound closure. These technological innovations collectively contribute to the improved efficacy and efficiency of wound care, especially in the treatment of complex wounds.

Moreover, increase in healthcare expenditure, particularly in developing countries, has a direct influence on the advanced wound care industry. As healthcare budgets expand, there is a greater allocation of resources to address chronic and acute wounds. This drives the demand for advanced wound care treatment and encourages investment in the development of new therapies.

However, high treatment cost and stringent government regulations are the major factors which restrain the growth of advanced wound care market. For instance, diabetic foot ulcer treatment can be costly, especially when considering the long duration of treatment and the need for multiple interventions. The expenses associated with wound care products, advanced dressings, biologics, devices and surgical procedures can impose financial burdens on patients and healthcare systems.

On the basis of product, the advanced wound care market analysis is categorized into infection management, exudate management, active wound care and therapy devices. The therapy devices segment accounted for largest advanced wound care market share in 2022, owing to rise in number of key players offering advanced therapy devices such as negative pressure wound therapy (NPWT) systems and electrical stimulation devices, rise in regulatory approvals and growing awareness about wound care devices in wound care management. The active wound care segment is anticipated to witness highest CAGR during the forecast period owing to rise in adoption of active wound care products such as skin substitutes & growth factors, ongoing advancements in active wound care and demonstrated effectiveness of skin substitutes & growth factors in promoting faster wound healing.

Based on application, the market is categorized into chronic wounds and acute wounds. The chronic wound segment accounted for largest advanced wound care market share in 2022, and is anticipated to register highest CAGR during forecast period, owing to increasing prevalence chronic wounds such as diabetic foot ulcers & pressure ulcers, rising aging population and surging prevalence of chronic diseases such as diabetes and obesity. This has led to a growing demand for advanced wound care solutions. In addition, rise in awareness among healthcare providers and patients about the benefits of advanced wound care in managing chronic wounds has resulted in more proactive interventions and thereby driving the segment growth.

On the basis of end user, the market is categorized into hospitals, homecare settings and others. The hospitals segment accounted for largest advanced wound care market size in 2022, owing to its advanced infrastructure, specialist expertise, inpatient care facilities, wide availability of treatment options for chronic & acute wounds. The others segment is projected to register highest CAGR during forecast period owing to increasing number of specialty clinics with advanced facilities, trained staff and personalized advanced wound care treatment.  

Region wise, North America accounted for largest advanced wound care market size in 2022. This growth is attributed to factors such as rise in prevalence of chronic wounds, availability of well-developed healthcare infrastructure such as specialized wound care centers & diabetic clinics and surge in emphasis on early detection & comprehensive management of chronic wounds.

In addition, the increase in geriatric population in North America has led to a higher prevalence of chronic wounds such as diabetic foot ulcer, leading to increased demand for novel treatment options. However, Asia-Pacific is expected to witness highest growth during the advanced wound care market forecast period, owing to rise in prevalence of chronic conditions such as diabetes, increase in healthcare expenditure and surge in awareness about the importance of early detection and treatment of wound.  

Key Findings of the Study

• On the basis of product, the therapy devices segment dominated the market in terms of revenue in 2022.
• On the basis of application, chronic wound segment accounted for largest share in terms of revenue in 2022 and anticipated to witness highest CAGR during the forecast period.
• On the basis of end user, the hospitals segment dominated the market in terms of revenue in 2022. However, the others segment is anticipated to grow at the highest CAGR during the forecast period.
• Region wise, North America generated the largest revenue in 2022. However, Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.