Seattle, WA -- (SBWIRE) -- 03/02/2020 -- The global advanced wound care management market, by Product Type (Moist Wound Dressings {Foam Dressings, Hydrocolloid Dressings, Film Dressings, Alginate Dressings, Hydrogel Dressings, and Collagen Dressings}, Wound Therapy Devices {Pressure Relief Devices, Negative Pressure Wound Therapy Systems, Hyperbaric Oxygen Equipment, and Electrical Stimulation Devices}, and Active Wound Care {Artificial Skin & Substitutes and Topical Agents}), by Wound Type (Surgical Wounds, Ulcers {Pressure Ulcers, Diabetic Foot Ulcers, and Venous Ulcers}, Traumatic Wounds, Burns and Other Wounds), by End User (Hospitals, Clinics, and Ambulatory Surgical Units), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) was valued at US$ 9,384.8 million in 2016 and is projected to exhibit a CAGR of 6.8% over the forecast period (2020-2027), as highlighted in a new report published by Worldwide Market Reports.

Growth of the global advanced wound care management market is primarily attributed to increased research and development activity and rampant innovation in the advanced wound care products. In November 2020, Arora Biosurgery received 510(k) clearance from U.S. FDA for its Endoform Silver Dermal Template product. Endoform Silver Dermal Template is an advanced antimicrobial version of the company's EDT wound care product and cane be used for chronic wounds, where healing is stalled. With the FDA clearance, the company is expected be able to commercialise antimicrobial version of its EDT in the U.S and is expected to launch its product in the first quarter of 2018.

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The Foam Lite ConvaTec dressing comprises breathable film and perforated, silicone adhesive. The dressing is flexible and conforms in different positions and places such as wrists, knees, elbows, and ankles. The silicone adhesive is user-friendly, easy to apply, and reposition and does not stick to the gloves or damages wound upon removal. The product is available in the Netherlands, the U.K, Germany, France, Austria, Spain, Croatia, Switzerland, Australia, and Canada.

Key players are focusing on collaborations to strengthen their product portfolio related to advanced wound care management. For instance, in December 2020, Smith and Nephew in collaboration with MolecuLight Inc. introduced MolecuLight — a handheld digital scanner device — that instantly determines the presence of bacteria and infection in the wound. This point of care (POC) device is expected to decrease the diagnosis and wound healing time by nine hours with 54% more accuracy. Furthermore, in November 2020, Crawford Healthcare in collaboration agreement with EBOS Healthcare — an Australasian medical supplies distributor — in order to expand into New Zealand and Australia markets.

The major players operating in the advanced wound care management market include Johnson & Johnson, 3M Company, Baxter International, Acelity, Coloplast, Integra Lifesciences, Kinetic Concepts, Covidien, Smith & Nephew, Leap Therapeutics, Hematris Wound Care, and Triage Meditech.

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Key Takeaways of the Market:

- The global advanced wound care management market is expected to exhibit a CAGR of 6.8% over the forecast period (2020-2027), owing to rising incidences of diabetic population and chronic wounds. According to Centers for Disease Control & Prevention (CDC) in 2016, 23.6 million people suffer from diabetes, which is 7.8 percent of the total population in the U.S. One third of all diabetic population in the U.S also suffer from lower extremity wounds. Asia Pacific region in the global advanced wound care management market is expected to exhibit a high growth rate, in terms of value, over the forecast period owing to its large population base
- Among wound type, the ulcers segment is expected to exhibit a significant CAGR of 4.9%, owing to rising incidences of diabetic ulcers
- Asia Pacific emerging as a key market. For instance, in 2012, Smith & Nephew launched 23 new wound care products in Asian and Chinese markets. Further in the same year, ConvaTec started some operations in India to up bring novel healthcare technologies and treatment measures in Asian market.