The global advanced wound care market size is estimated to grow from USD 11.57 billion in 2024 to USD 20.21 billion by 2035, representing a CAGR of 5.20% during the forecast period till 2035.
Over the past decade, the growing burden of complex and chronic wound care management has emerged as a significant contributor to medicare spending, resulting in a substantial financial burden on the healthcare sector. The US spends close to USD 25 billion every year for the management and treatment of various types of chronic wounds. Additionally, as per the recent data, in the US alone, over 8 million people suffer from various types of chronic and non-healing complex wounds (diabetic foot ulcers, pressure ulcers, venous leg ulcers, infections arising from surgical procedures and thermal wounds), accounting for 2% of their entire population. This incremental rise in people suffering from various wound types can be attributed to the growing burden of chronic diseases, rise in the global geriatric population who are prone to chronic diseases and wounds, and rise in global volume of surgeries.
Owing to the usage of advanced medical imaging technology, the understanding of wounds has immensely increased among the health practitioners and stakeholders working within the wound care domain. Coupled with drawbacks of the conventional wound care products, such as gauzes and bandages, the stakeholders have come up with advanced wound care products. Advanced wound care products / advanced wound care management solutions refer to a group of products that can be utilized by the healthcare professionals to expediate the healing process of a wound. Examples of these products include advanced wound care dressings (foam dressings, antimicrobial dressings, alginate dressings, hydrocolloid dressings, hydrogel dressings, composite dressings and others types of wound care dressings), bioengineered skin and dermal substitute (allografts, autografts, extracellular matrices, growth factors and other dermal substitutes) and wound healing medical devices (negative pressure wound therapy, hyperbaric oxygen therapy, topical oxygen therapy, hydrotherapy, electric stimulation therapy and others).
Advanced wound care products have emerged as an essential part of wound care management lately. This can be attributed to the various challenges faced by the patients and the healthcare practitioners in the management of wounds. Major advantages of advanced wound care products include:
Faster Healing Process: Due to the utilization of advanced biomaterials in the production of advanced wound care solutions, these products have the capability to expedite the healing process of wounds in comparison to traditional wound care solutions. For instance, diabetic foot ulcers are highly susceptible to amputation. The effective utilization of advanced wound care solutions can significantly enhance the management of diabetic foot ulcers and substantially decrease the risk of amputation.
Reduced Economic Burden: Complex and non-healing wounds take more than four weeks to heal. And in certain cases, it may take more than four weeks, if the wound is more grievous. Higher the healing duration, more with the associated economic lost and financial burden. For instance, within a single financial year, owing to the chronic venous ulcers, close to 4.6 million workdays are lost, resulting in a significant financial burden on the economy. Therefore, implementing advanced wound care solutions as a standard treatment approach can effectively decrease the healing duration for individuals, consequently reducing the financial loss and economic burden.
Improved Quality of Life: Wounds resulting from surgical procedures, trauma, and other causes have the potential to result in permanent scarring at the site of the wound. Additionally, chronic wounds have a detrimental impact on the quality of life for patients, as they bring about physical, social, psychological, and economic challenges. However, the utilization of advanced wound care solutions, including advanced wound care dressings and bioengineered skins and dermal substitutes, can bring about reversible transformations in the dermatological tissue, ultimately leading to an improved quality of life for individuals.
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