In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. Primary sources were mainly industry experts from the core and related industries and preferred suppliers, manufacturers, distributors, service providers, technology developers, researchers, and organizations related to all segments of this industry’s value chain.  

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. Emerging economies such as China, Japan, and India are providing lucrative opportunities for the players operating in the advanced wound care market. 

The increased pressure due to the growing rate of hospitalization of COVID-19 patients had led to the re-profiling of many hospitals and departments for treating patients with COVID-19. Consequently, many elective surgeries were canceled or postponed worldwide to reserve or redirect the available limited capacities and resources (like hospital beds and patient care professionals) toward COVID-19 patient care. 

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In the secondary research process, various secondary sources such as annual reports, press releases & investor presentations of companies, white papers, certified publications, articles by recognized authors, gold-standard & silver-standard websites, regulatory bodies, and databases (such as D&B Hoovers, Bloomberg Business, and Factiva). 

After arriving at the overall market size applying the process mentioned above, the total market was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments, data triangulation and market breakdown procedures were employed, wherever applicable. 

The high cost of chronic wound treatments and advanced wound care products may negatively affect their adoption, especially in cost-sensitive markets such as Asia and the RoW. Patients and physicians in these regions opt for less-expensive advanced wound care products.  

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The advanced wound care market is very dynamic and has witnessed several developments in recent years. The major trend in this market is the acquisition of small players by prominent players.