Advanced Wound Care Market Generating Revenue of $14,190.5 Million by 2030

Rise in incidence rate of chronic diseases such as diabetes & obesity and surge in demand for innovative & advanced wound care products.

PORTLAND, OREGON, UNITED STATES, April 4, 2022 /EINPresswire.com/ -- Increase in the geriatric population, rise in incidences of diabetes, obesity, and chronic conditions, and developments in technology to deal with complex wounds have boosted the growth of the global advanced wound care market. However, high cost of advanced wound care products hinders the market growth. On the contrary, untapped opportunities in developing countries are expected to unlock new opportunities for the market players in the future.

According to the report published by Allied Market Research, the global advanced wound care market size was valued at $8,978.0 million in 2020, and is projected to reach $14,190.5 million by 2030, registering a CAGR of 4.6% from 2021 to 2030. The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.

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Onkar Sumant, a Manager, Healthcare at Allied Market Research, stated, “increase in prevalence of chronic wounds significantly over past few years, rise in global geriatric population, and surge in prevalence of diabetes and obesity which can complex the wound infections are the factors that promote the advanced wound care market growth significantly during forecast period.”

Impact of Covid-19 on Advanced Wound Care Market-

The Covid-19 pandemic negatively affected the market due to countrywide lockdown and canceled or postponed elective surgeries. Moreover, the prolonged lockdown disrupted the supply chain and increased the prices of medical equipment and raw materials.

However, the increase in skin injuries in medical care providers is expected to boost the demand for advanced wound care.

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By application, the chronic wounds segment accounted for the highest revenue share in the advanced wound care market in 2020, and is expected to maintain its dominance during the forecast period. This is attributed to rise in prevalence of postoperative surgical wounds and surge in geriatric population. In addition, rise in awareness toward advanced wound care & improved diagnosis and technological advancements in advanced wound care products are expected to offer remunerative opportunities for market expansion in the near future.

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The global advanced wound care market report includes an in-depth analysis of the prime market players such as 3M (Acelity Inc.), B Braun Melsungen AG, Adynxx, Inc., ConvaTec Group plc, Coloplast A/S, Integra Lifesciences (Derma sciences), Essity AB (BSN Medical GmbH), Johnson & Johnson, Investor AB (Mölnlycke Health Care AB), Medtronic plc., Medline Industries, Inc., Smith & Nephew Plc., and Organogenesis Holdings Inc.

David Correa
Allied Analytics LLP
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