Market Trends of Advanced Wound Care Management Industry
This section covers the major market trends shaping the Advanced Wound Care Management Market according to our research experts:
Foam Dressing Segment is Expected to Hold a Major Share in the Studied Market
Foam dressings are used for moderate to heavy exudate wounds. Foam dressings are created from polyurethane or silicone materials that come with or without antibacterial materials, such as silver. Some of these dressings have a 'sticky' side that adheres to the intact wound without adhering to the wound bed. The demand for foam dressing products is increasing owing to increasing burn cases, various ulcers, open wounds, and rising surgical cases around the world. Furthermore, diabetes is expected to be a major factor causing wounds. Thus, a rise in the number of people suffering from diabetes is anticipated to drive the market.
The International Diabetes Federation (IDF) is divided into seven regions, and the United States is one of the 23 countries in the IDF North America and Caribbean (NAC) region. As per data from IDF, out of the 537 million people who have diabetes globally, more than 51 million people reside in the NAC Region; this count is expected to rise to 63 million by 2045. Therefore, the increasing number of diabetes patients who are more prone to getting ulcers is expected to boost the market.
Growing research and development activities are further boosting the market growth over the forecast period. For instance, in June 2022, Medline released its OptifoamGentle EX Foam Dressing. When combined with a pressure injury prevention protocol, the product is intended to help displace pressure. The product has five distinct layers that assist absorb shear stress, friction, and moisture. In May 2022, Winner Medical showcased its latest and industry-leading advanced surgical wound care products, namely the Transparent Film Dressing, Bordered Silicone Foam Dressing with SAF and Antibiosis Series Products, and the new product, the Carboxymethylcellulose (CMC) dressing.
Thus, all the above-mentioned factors are expected to boost segment growth over the forecast period.
Asia-Pacific Region is Expected to Register Significant CAGR Over the Forecast Period
In Asia-Pacific, the market for advanced wound care is estimated to witness the highest CAGR over the forecast period. This can be attributed to changing lifestyles leading to an increase in the incidence of chronic diseases and an increase in the geriatric population in this region.
The incidence of chronic wounds, especially foot ulcers, increased among the diabetic population. For instance, in 2021, the International Diabetes Federation (IDF) reported that the number of diabetic cases in China in 2021 was 140.9 million, which accounts for 10.6% of China's population, and this number is expected to increase to 164.06 million by 2030. According to the same report, the country was reported with 72.83 million undiagnosed cases of diabetes in 2021. Thus, high diabetes prevalence is accompanied by a high incidence of diabetic foot ulcers, raising the demand for advanced wound care management in the region. Additionally, as per the article published in the Journal of Nursing in June 2021, skin damage in the elderly contributes to pressure ulcer formation due to increased friction and shear forces. Thus, the increase in the geriatric population is also expected to contribute to the growth of the market as the elderly tend to have vulnerable skin and require expert wound care management.
The strategic activities by the market players such as product launches are expected to boost market growth. For instance, in September 2022, COSMOTEC, an M3 Group Company, received insurance coverage in Japan for the RECELL System for the treatment of acute burns. Additionally, in March 2022, Advanced Oxygen Therapy Inc. (AOTI) received the Chinese National Medical Products Administration (NMPA) approval for its unique cyclically pressurized topical wound oxygen (TWO2) therapy.
Thus, all the above-mentioned factors are expected to boost market growth over the forecast period.
