Market Size of Europe Advanced Wound Care Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 6.10 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Europe Advanced Wound Care Market Analysis
The European advanced wound care market is expected to register a healthy CAGR of nearly 6.1% during the forecast period of 2022-2027.
The COVID-19 pandemic was expected to have a significant impact on the market. A study titled "Transmission of SARS-CoV-2 Lineage B.1.1.7 in England: Insights from linking epidemiological and genetic data", published in December 2020, reported that the new coronavirus strain almost tripled its number of infections in England. Hence, the United Kingdom and many other countries in Europe were seeing localized lockdowns, with Governments imposing travel restrictions, etc. With the lockdown being imposed, elective surgeries were held up again, which was expected to have a negative impact on the market. Governments have taken various definite measures to provide proper wound care management for the population. For instance, a research paper named "Wound Antiseptics and European Guidelines for Antiseptic Application in Wound Treatment" released in December 2021 noted that chronic wound infections afflict roughly 1.5% of the population and that problems with wound healing are highly prevalent. Antiseptics are the primary materials used in wound washing, cleaning, and therapy. Only the following antiseptics should be considered for wound treatment, according to the recommendations of the Polish Society for Wound Treatment and the German Consensus on Wound Antisepsis: octenidine (OCT), polihexanide (PHMB), povidone-iodine (PVP-I), sodium hypochlorite (NaOCl), and nanosilver. Such instances are expected to support the European advanced wound care market during the COVID-19 pandemic.
The major factors that are expected to drive the European advanced wound care market's growth include the high and increasing burden of chronic diseases, a high number of surgeries, and a rising geriatric population along with other risk factors. For instance, according to an article published in June 2021, titled "German Heart Surgery Report 2020: The Annual Updated Registry of the German Society for Thoracic and Cardiovascular Surgery," there were approximately 29,444 isolated coronary artery bypass grafting procedures, 35,469 isolated heart valve procedures, and 843 assist device implantations (including left/right/biventricular assist devices, total artificial devices) registered in Germany. According to the same source, the number of solitary heart transplants in Germany has surged to 340, a 2.1% increase over the previous year. Hence, an increasing number of surgeries are expected to play a significant role in the European advanced wound care market over the forecast period. In addition, according to the International Diabetes Federation in 2021 report, the estimated prevalence of diabetes in adults of age 20-79 years in Europe was 61.4 million in 2021, and this prevalence is projected to reach 69 million by 2045. The increasing incidences of diabetes may further lead to growth in this market because diabetes slows down the healing process making diabetic people more prone to infections and other complications.
Furthermore, the companies operating in the advanced wound care market in Europe are progressive and continuously innovating their products and launching them in the market which is further expected to augment the growth of the studied market. For instance, in November 2020, Advanced Medical Solutions, a surgical and advanced wound care specialist company based in the United Kingdom, received a Conformitè Europëenne (CE) mark for its product 'Silicone PHMB Foam Dressing.' In June 2021, RLS Global, a medical healthcare company based in Sweden, and ConvaTec signed a global collaboration agreement to commercialize ChloraSolv which will be included in ConvaTec's Wound Hygiene Protocol of care for hard-to-heal wounds. Hence, such product launches are expected to drive the market. Thus, the abovementioned factors are anticipated to fuel growth in the advanced wound care market in Europe. However, the high cost associated with the treatment and reimbursement issues for the new technologies is the major factors that are expected to impede the market's growth over the forecast period.
