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The U.S. advanced wound care market size was USD 4.22 billion in 2022. The market is projected to grow from USD 4.45 billion in 2023 to USD 6.54 billion by 2030, exhibiting a CAGR of 5.6% during the forecast period.
Advanced wound care products are mainly used when standard products fail to heal the wounds properly. Wounds such as chronic ulcers, which are unresponsive to initial wound care, are generally treated with advanced wound care therapies. Collagen products, biological skin equivalents, and Negative Pressure Wound Therapy (NPWT), among others are considered under these therapies. The rising prevalence of geriatric population in the country is one of the factors leading to an increased demand for these products. Aging population is leading to rise in age-related chronic conditions including disability, diabetes, vascular diseases, and others. This is presenting a large patient population at higher risk of developing chronic wounds.
Additionally, the constant efforts by the key players to launch new advanced products for wound treatment and rising initiatives by the government to raise awareness regarding proper wound management are some factors leading to an increase in the uptake of advanced wound care products in the upcoming years.
Canceled Visits During the Pandemic Hampered the Market Growth
During the COVID-19 pandemic, wound management was exempted from the list of essential procedures by the country, due to which the market in the country was negatively impacted. The market was also slowed down due to a decline in the number of patient visits to wound care clinics, the implementation of nationwide lockdown, and disruption in the demand and supply chain, among others.
Additionally, various market players in the country observed a significant decline in their revenue generation during the pandemic.
However, the market witnessed normal growth owing to the adoption of telemedicine by healthcare professionals to treat the patients suffering from various wounds and the resumption of surgeries across the globe.
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Rising Launch of Active Therapies for Wound Management
This market is witnessing a shifting trend toward adopting bioactive wound care products among the population owing to various benefits associated with these products. Bioactive wound care products when compared to conventional products exhibit faster wound healing process, and reduced risk of infection, among others. Also, to cater to the rising demand for these products, companies have shifted their focus in developing and launching various bioactive wound care therapies.
Furthermore, governments provide a conducive environment for the approvals and launch of advanced products to manage chronic wounds among patients. This is expected to bolster the U.S. advanced wound care market growth in the forthcoming years.
Rising Prevalence of Acute and Chronic Wounds to Expand the Market Share
The rising prevalence of chronic wounds, such as diabetic foot ulcers, venous leg ulcers, and pressure ulcers, and increasing incidence of acute wounds owing to injuries and surgical procedures in the country are prominent factors raising the demand for these products.
Additionally, to meet the rising demand among patients due to increasing prevalence, companies and the country’s government are continuously trying to launch technologically advanced products in the market, which is anticipated to raise the uptake of these products in the forthcoming years.
Increase in Product Recalls to Hamper the Market Growth
Despite the fact that companies have increased their capacity for manufacturing advanced products to cater to the rising demand, frequent product recalls of many products limited the market growth. Manufacturing defects in the product, hampered product quality, and others have hindered the brand presence of these companies and their products, thus limiting the adoption of these products.
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Advanced Wound Dressings Segment to Dominate the Market Owing to the Launch of Technologically Advanced Products
On the basis of product type, the market is segmented into advanced wound dressings, wound care devices, and active wound care. The advanced wound dressings segment held a dominating market share in 2022 and is expected to continue its dominance in the upcoming years. The wide availability of advanced wound dressings, cost-effectiveness of the products, and the approval of new products are a few factors promoting the U.S. advanced wound care market growth.
On the other hand, the active wound care segment is expected to observe lucrative growth in the forthcoming years owing to benefits offered by the products to promote regeneration and support the re-epithelization process.
Moreover, the wound care devices segment is projected to grow at a significant CAGR during the forecast period. The rise in traumatic wounds, the number of surgeries, and the launch of technologically advanced wound care devices contribute to the market growth.
Diabetic Foot Ulcers Segment to Dominate Owing to Rising Diabetes Prevalence among the U.S. Population
On the basis of indication, the market is segmented into diabetic foot ulcers, pressure ulcers, surgical wounds, and others. The growing prevalence of diabetic ulcer among the population is leading to a rising demand for wound care products. Additionally, strong reimbursement scenario in the country for wound treatment is contributing to the increased adoption of these products among the population.
On the other hand, pressure ulcers and surgical wounds segments are anticipated to exhibit a considerable growth during the forecast period. The increasing prevalence of geriatric population and rising number of hospital inpatient admissions with increasing length of stay, is likely to drive the adoption for wound care products.
Rising Number of Surgeries to Propel Hospitals Segment Growth
Based on end user segment, the market is segmented into hospitals, clinics, homecare settings, and others.
The hospitals segment accounted for the largest market share in the end user segment owing to the rising number of surgeries, increase in hospital admission with regards to wound management, reimbursement provided by the hospitals, and hospitals adopting advanced wound care products to manage and heal wounds.
Homecare settings segment is anticipated to grow at a higher CAGR during the forecast period. The increasing shift of patients toward home healthcare due to its cost-effectiveness when compared to the long hospital stays required for wound treatment is one of the predominant factors contributing to the segment growth. Furthermore, the launch of products to be used in homecare settings is expected to support the market growth.
Smith & Nephew, Convatec Group PLC, and 3M to Lead the Market with Strong Product Offerings
Smith & Nephew, 3M, and Convatec Group PLC are the players currently leading the U.S. advanced wound care market share. The presence of a strong product portfolio and remarkable distribution network in the country are major factors strengthening their industry presence. Moreover, rising initiatives by these companies to strengthen their market position by launching new products, collaboration, and partnerships with various healthcare organizations and others also promote their revenue growth in the forthcoming years.
Other players such as MiMedx, Tissue Regenix, Organogenesis, Inc. are also focused toward launching novel products, which is expected to increase their growth in the upcoming years.
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The market research report provides a detailed analysis of the market and focuses on key aspects such as leading companies, competitive landscape, products, applications, and end users. Besides this, it offers insights into the market trends and highlights key industry developments. In addition to the factors mentioned above, the report encompasses several factors that have contributed to the growth of the market in recent years.
ATTRIBUTE | DETAILS |
Study Period | 2019-2030 |
Base Year | 2022 |
Estimated Year | 2023 |
Forecast Period | 2023-2030 |
Historical Period | 2019-2021 |
Growth Rate | CAGR of 5.6% from 2023-2030 |
Unit | Value (USD Billion) |
Segmentation | By Product Type, By Indication, and By End User |
By Product Type |
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By Indication |
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By End User
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Fortune Business Insights says that the U.S. market stood at USD 4.22 billion in 2022 and is projected to reach USD 6.54 billion by 2030.
In 2022, the market value stood at USD 4.22 billion.
The market will exhibit steady growth at a CAGR of 5.6% during the forecast period (2023-2030).
Currently, the advanced wound dressing segment is leading by type. The active wound care segment will lead the market during the forecast period.
Growing cases of chronic and acute wounds among the U.S. population, approval and launch of new products, and introduction of advanced technology in the product are the major factors expected to drive the market growth.
Smith & Nephew, 3M, and ConvaTec Group PLC are the major players in the market.
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