Europe Advanced Wound Care Market Size, Share & COVID-19 Impact Analysis, By Product Type (Advanced Wound Dressings {Alginate Dressings, Hydrogel Dressings, Film Dressings, Antimicrobial Dressings, Foam Dressings, Others}, Wound Care Devices {Negative Pressure Wound Therapy, Hyperbaric Oxygen Therapy, Extracorporeal Shock Wave Therapy, Others}, and Active Wound Care {Biological Skin Equivalents, Biological Dressings, and Others}), By Indication (Diabetic Foot Ulcers and Others), By End User (Hospitals, Clinics, Homecare Settings, Others), and Regional Forecast, 2023-2030

Europe is the second largest region in the global advanced wound care market. It is projected to grow at a CAGR of 5.7% during the forecast period. The global market for advanced wound care is projected to grow from USD 11.38 billion in 2022 to USD 17.48 billion by 2030.

The increase in research & development activities by government organizations and key players situated in the region to cater to the rising patient demand owing to the rising prevalence of chronic and acute wounds are anticipated to bolster the market. In February 2023, the European Union’s Horizon Europe research and innovation program funded USD 6.0 million for the project FORCE REPAIR initiated on 1st January 2023. The funding was aimed at developing smart wound dressings based on 3D printed biological scaffolds to reduce infection and relieve skin tension, among others.

Additionally, the growing number of surgical procedures and surgical site infections, the growing burden of the population suffering from chronic diseases, growing incidence of accidents ulcer and other chronic wounds, among others also raised the demand for advance wound care products.

Our report on the European market covers the following countries/regions – U.K., Germany, France, Italy, Spain, Scandinavia, and the rest of Europe.

LATEST TRENDS

Increasing Investments in Research and Development Activities by Key Players to Launch Novel Products

Currently, the commercially available wound dressing products do not exhibit the property of antibacterial barrier and do not facilitate efficient wound healing simultaneously. Many companies have shifted their focus toward developing and launching novel active wound dressing products to address this unmet need. Moreover, the European government is also taking initiative to support the research and development for introducing innovative active wound care products in the market to promote efficient healing.

• For instance, in September 2021, Colzyx AB received a USD 1.2 million grant from the European Innovation Council Fund (EIC Fund) to develop its novel bioactive wound dressing product, “WOUNDCOM”.

Such initiatives are anticipated to augment the Europe advanced wound care market growth in the coming years.

DRIVING FACTORS

Increasing Clinical Burden of Infected Wounds to Raise Product Demand

The rising rate of hospitalization and readmission in the region increases the risk of developing infected wounds caused by antibiotic-resistant microorganisms.

• According to the Office for National Statistics 2023 data, the overall hospitalization rate in England increased by 10.62 per 100,000 people at the end of March 2023.

Furthermore, the rising adult population in the region also contributes to the increasing demand for wound care products. The geriatric population is at a higher risk of developing mobility disorders resulting in bedridden conditions, further making them vulnerable to various chronic wounds such as venous ulcers, diabetic ulcers, and others. Thus, the mentioned factors are expected to raise the demand for advanced wound care products in the region during the forecast period.

RESTRAINING FACTORS

Disadvantages Associated with Advanced Wound Care Products to Limit the Adoption 

Despite the launch of various novel wound care products in the market, the limitations associated with the devices and the products are one of the main factors restricting adoption among patients.

• According to an article published in NCBI in 2021, the main disadvantage while using NPWT device for wound management is the increased risk of infection and cross-contamination while changing the canister or dressings. Also, foam dressings may affect the growth of new tissue and damage wound tissue while removing the dressings and are not suitable for necrotic wounds and wounds that require frequent care.

Moreover, difficult-to-treat chronic wounds pose a substantial financial burden to the patients and the healthcare system in the region owing to the need for continuous and effective treatment.

• For instance, according to a research article published in NCBI in 2022, the mean annual cost of treatment of diabetic foot ulcers in Europe is around USD 12,013.

Therefore, disadvantages associated with the products and high treatment cost may lead to sluggish Europe advanced wound care market growth.

KEY INDUSTRY PLAYERS

ConvaTec Group PLC, Smith & Nephew, and Mölnlycke Health Care AB are the key manufacturers leading this market. The wide product offerings and continuous efforts to strengthen the foothold in the region and launch of new products by these companies are the factors anticipated to contribute to their revenue share in the upcoming years.

• For instance, in January 2022, ConvaTec Group PLC entered into a definitive agreement to acquire Triad Life Sciences, Inc. with plans to debut the wound biologics business.

Other prominent players, such as Integra LifeSciences and Coloplast A/S, held a significant position in the Europe advanced wound care market share due to their initiatives to launch innovative products and increasing involvement in strategic inorganic activities such as collaborations and partnerships to expand their product portfolio.

LIST OF KEY COMPANIES PROFILED:

• Coloplast A/S (Denmark)


• Paul Hartmann AG (Germany)


• Smith & Nephew (U.K.)


• ConvaTec Group PLC (U.K.)


• Mölnlycke Health Care AB (Sweden)


• Tissue Regenix (U.S.)


• Medtronic (Ireland)


• Integra Lifesciences (U.S.)


• 3M (U.S.)

KEY INDUSTRY DEVELOPMENTS:

• September 2022: Evonik signed an exclusive distribution agreement with Coopmed for distributing epicite in the Germany market.


• June 2022: Smith & Nephew established a new advanced wound management R&D and manufacturing facility in the U.K. by investing USD 100 million. Through this new facility, the company anticipated to increase its sales.


• December 2021: Essity Aktiebolag acquired Hydrofera for approximately USD 116 million. Hydrofera is a U.S.-based company developing advanced wound care products and has presence in more than 15 countries. Through this acquisition, Essity aims to strengthen its geographical presence.

REPORT COVERAGE

The market research report provides qualitative and quantitative insights on the market and a detailed analysis of the market size & growth rate for all possible segments in the market. Along with market forecast, the report provides an elaborative analysis of the market dynamics and competitive landscape. Various key insights presented in the report are the prevalence of various chronic diseases in the region, new product launches, and key industry developments – mergers, acquisitions & partnerships, and the impact of COVID-19 on the market.

Report Scope & Segmentation