Advanced wound care treatment involves the treatment of chronic or complex wounds using product films, foams, hydrogels, alginates, hydrocolloids, sponges, & fabric. It involves the treatment of wounds like burns, ulcers, and other surgical & traumatic wounds by maintaining a stable temperature around the wounds, protecting them from external infections and ensuring a speedy recovery.
According to the research conducted by MarkNtel advisors, the Global Advanced Wound Care Market is projected to grow at around 3.72% CAGR during the forecast period, i.e., 2023-28. The increasing incidences of obesity and surgical procedure around the globe have fueled the demand of the market during the forecast period.
A quick market Insight:
- The increasing number of patients with diabetes and obesity in young as well as old patients has fueled the market growth. Along with it the increasing incidence of diabetic foot ulcers, venous ulcers, pressure ulcers, etc., coupled with the problems such as slow healing abilities has raised the demand for the Advanced wound care market.
- The increased investment in the healthcare sector by the government has led to market expansion and growth. Moreover, the increasing number of surgical operations is projected to grow during the forecast period.
- Advanced wound care products help in moisture retention, and healing wounds internally & externally. So, these products play a vital role in the healthcare industry. The rising number of road accidents, burns & trauma is another prominent contributor to the market.
- The companies are coming out with R&D investments, new partnerships to expand their business and efficient technologies that have increased market growth. Also. The market is witnessing a lot of opportunities in the healthcare industry with the rapid advancement of technology new solutions are merging from time to time.
One such is Smart wound dressings their exceptional material properties can address complicated wound structures, fit well to the surface and can speed up the healing process. Along with it, they come with Nanosensors which start alerting patients when the wound is not healing properly.
Thus, Smart wound dressings are smart new-age solutions and can provide the ultimate cure to patients. With rising technological upgradation in the healthcare industry, it can be said that the market is booming and will be able to generate lucrative opportunities in the future.
Who dominates the Advance Wound care market?
North America is expected to dominate the market during the forecast period. The rise in surgical procedures also increased cases of diabetes r of diabetes and obesity venous disease, & arterial injuries are surging the growth of the market.
According to ASAPS (American Society for Aesthetic Plastic Surgery), the US witnessed over 1.56 million surgical cosmetic procedures in 2021.
Along with it increasing cases of road accidents, burns and trauma events are creating a lot of opportunities for manufacturers to provide the best solutions to patients.
None can deny the fact that the Advance wound care market is growing tremendously and is expected to rise during the forecast period. Increased investment of the government in the healthcare industry brings potential opportunities for investors in the market in long run.