Global Advanced Wound Care Market to Ultimately Value $17,076.9 Million

To understand advanced wound care, it is first important to understand what type of wounds it is required for. Wounds, in general, can be classified as acute and chronic, wherein the former type heal within six weeks, whereas the latter type can take as may as 3–6 months. There are several types of chronic wounds, viz. infectious wounds, surgical wounds, and ulcers. If an acute wound caused due to injury or surgery gets infected, it can take longer than usual to heal, thereby transforming into the chronic type. However, ulcers are the most common type of chronic wounds in the U.S., affecting 6 million every year, according to a paper published by doctors associated with the Department of Veterans Affairs in Washington D.C.

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A common cause of ulcers is diabetes; it was reported in 2012 that almost 24.0% diabetes patients suffer from foot ulcers. Other than diabetic ulcers, people also commonly suffer from venous ulcers and arterial ulcers, caused due to the compromised functioning of veins and arteries, respectively, as well as pressure ulcers. Because the treatment of such wounds is often made difficult by neuropathy, inhibited cellular synthesis, and chances of infection, traditional wound care products prove ineffective. Therefore, the surging prevalence of chronic wounds gives an opportunity to the advanced wound care market to prosper.

Traditional Wound Care vs Advanced Wound Care

Traditional wound care products are easily available at clinics, medical stores and pharmacies, and even at supermarkets. Gauze, bandages, wadding, and lint are the most common types of such products. These are perfect for treating minor abrasions and cuts, and when used with an antibacterial ointment, they can be used for slightly more complicated wounds. These promote wound healing by drying out the affected area, which is accomplished by absorbing pus, blood, and other fluids. Traditional products also stop the bleeding, stop particles from irritating the site, and lessen the chances of infection.

Advanced wound care products, on the other hand, work on a completely opposite principle, of keeping the wound moist! This is important to let the wound breathe and promote cell repair as cells need water to survive and multiply. Such products also keep the temperature around the wound constant, allow for natural ventilation by maintaining the flow of oxygen, minimize chances of infection, remove the dead tissue, and lessen the pain felt during dressing change.

Reasons and Regions for Market Growth

As per a study done by P&S Intelligence, from $10,659.6 million in 2015, the advanced wound care market is expected to grow at a 7.0% CAGR during the forecast period (2016–2022). The is growing due to increasing geriatric population, number of chronic wounds, accidents, diabetics, and burn cases, obese people, volume of surgeries, awareness, and technological advancements. As already noted above, the incidence of chronic wounds is constantly on the rise. The National Institute for Health and Care Excellence mentioned in 2016 that the prevalence of venous leg ulcers in the U.K. is around 0.3%. Similarly, as per the 2010 Wounds General data, 7 million incidents of chronic wounds are registered in North America each year, thereby driving the market. This is why, North America is expected to be the most lucrative region in terms of growth opportunities for companies in the market, where the sales of such products are predicted to generate almost one-thirds of the worldwide revenue.