The global advanced wound care market is projected to reach USD 12.8 billion by 2026 from USD 9.4 billion in 2021, at a CAGR of 6.2%. The increasing spending on chronic wounds, growing prevalence of diseases & conditions affecting wound healing capabilities, and technological advancements are among the major factors propelling the growth of this market. 

 

Based on products, the advanced wound care market is segmented into dressings, devices & accessories, grafts & matrices, and topical agents. The dressings segment accounted for the largest share of the advanced wound care market in 2020. 

 

The major trend in this market is the acquisition of small players by prominent players. Small companies possess strong R&D capabilities but lack the financial strength to seek approvals and launch products in the market. Large players with strong financial positions tend to acquire these small players and use their innovative technologies for developing advanced products.  

 

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Based on end users, the advanced wound care market is segmented into hospitals, ASCs, and wound care centers; home care settings; and other end users. In 2020, the hospitals, ASCs, and wound care centers segment accounted for the largest share of the advanced wound care market. 

 

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The global advanced wound care market has been segmented into five major regions—North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. In 2020, North America accounted for the largest share of the advanced wound care market. The large share of this region can be attributed to the increasing demand for advanced wound treatment options like advanced wound care products, the highly developed healthcare system in the US and Canada, and increasing prevalence of chronic disorders. 

 

Some key players in the advanced wound care market (2021- 2026)

  • 3M Company (US)
  • Smith & Nephew plc (UK)
  • ConvaTec Group Plc (UK)
  • Coloplast A/S (Denmark)
  • Mölnlycke Health Care AB (Sweden)