From USD 11.0 billion in 2019, the global advanced wound care market is predicted to grow to USD 15.8 billion by 2025, registering a CAGR of 6.3% during the forecast period (2020–2025). The advanced wound care industry is anticipated to experience significant growth during the forecast period, owing to the rising prevalence of diabetes-associated ulcers, pressure ulcers, obesity, ageing population and venous leg ulcers and intensifying need for inventive & innovative wound dressings for the treatment of such wounds.

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Due to the increasing occurrence of wound ulcer and surgical wounds has resulted in increased demand for advanced wound care products for the management of the wounds and to reduce the length of stay in the hospital. Some of the other key factors driving the growth of the advanced wound care industry are the rising adoption of evidence-based treatment for chronic wounds, escalating healthcare expenditure, and awareness programs for advanced wound care treatment and management.

Key factors hindering the growth of the advanced wound care market are the high cost of advanced wound care products and lack of awareness of advanced wound care products.

Asia-Pacific is observed to witness significant growth in the advanced wound care market during the forecast period, as the region comprises a large population, and escalating government support. Moreover, expanding the geriatric population, the mounting occurrence of diabetes, escalating healthcare expenditure, intensifying medical tourism, growing demand of advanced wound care products, and mounting occurrence of surgical wounds are also facilitating the significant growth of Asia-Pacific advanced wound care industry.

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Market players in the advanced wound care industry are investing capital to develop technologically advanced systems. In June 2018, Acelity L.P. Inc., acquired Crawford Healthcare, to expand its product portfolio of advanced wound dressings.

Some of the major players operating in the global advanced wound care market are The 3M Company, Smith & Nephew, Medtronic Plc., Mölnlycke Healthcare (A Part of Investor AB), Coloplast Corporation, Paul Hartmann, Cardinal Health, B. Braun, Mimedx Group, Convatec Group, Integra Lifesciences Holdings Corp., and Acelity L.P. Inc.

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