Advanced Wound Care Market Size in U.S. to Grow $4.97 Bn, by 2027, at 9.9% CAGR
Pune, Maharashtra, India, February 10 2021 (Wiredrelease) Allied Analytics –:Allied Market Research published a report, titled, “U.S. Advanced Wound Care Market by Product (Infection Management, Exudate Management, Active Wound Care, Therapy Devices), Application (Chronic Wounds and Acute Wounds), and End User (Hospitals and Community Centers): Opportunity Analysis and Industry Forecast, 2020–2027.”According to the report published by Allied Market Research, the U.S. advanced wound care market generated $3.35 billion in 2019, and is estimated to reach $4.97 billion by 2027, registering a CAGR of 9.9% from 2020 to 2027.
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Drivers, restrains, and opportunities-
Growth in ageing population and rise in number of patients suffering from obesity, diabetes, and chronic conditions propel the growth of the U.S. advanced wound care market. Nevertheless, high cost associated with advanced wound care products restrains the market growth. Furthermore, technological advancements to treat the complex wounds is expected to provide new growth opportunities for the market players in the near future.
– Due to the spread of Covid-19 there has been a major disruption in health care services, causing interference in the treatment for patients with wounds as doctors are being redeployed for treating Covid-19 patients due to which there will be a delay in patient treatment.
– Furthermore, the demand for advanced wound care is anticipated to increase during the pandemic as patients with multiple comorbidities may have an increased risk of getting infected from the corona virus.
Advanced wound care patients are at the higher risk during COVID-19 pandemic: Governments suggested providers to minimize the procedure or shift to the less risky area for the treatment. This would hamper the growth of the market during COVID-19 pandemic.
The therapy devices segment to dominate the market-
Based on product, the therapy devices segment contributed to the largest share in 2019, accounting for more than one-third of the U.S. advanced wound care market, and is estimated to maintain its dominant position during the forecast period. This is owing to factors including availability of innovative portfolio for wound care devices, rise in government spending for advanced wound care devices, surge in awareness toward healthcare, and technological advancements in wound care devices. However, the active wound care segment is estimated to portray the highest CAGR of 14.6% during the forecast period. This is attributed to rise in number of plastic surgeries. In addition, surge in demand for innovative & advanced wound care products and rise in incidences of burns & trauma injuries across the U.S further enhances the segment growth. KW MISSING
The chronic wounds segment to lead the trail through 2027-
Based on application, the chronic wounds segment accounted for the largest share in 2019, holding more than two-thirds of the U.S. advanced wound care market, and is expected to maintain the largest share throughout the forecast period. Furthermore, the segment is expected to register the highest CAGR of 10.1% from 2020 to 2027. This is attributed to surge in prevalence of post-operative surgical wounds, rise in geriatric population, increase in awareness and improved diagnosis, and technological advancements.
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The hospitals segment to rule the roost throughout 2027-
Based on age group, the hospitals segment accounted for the largest share in 2019, holding for nearly three-fifths of the U.S. advanced wound care market, and is expected to maintain the largest share throughout the forecast period. This is attributed to the fact that hospitals are increasingly showing an inclination toward advanced wound care products. In addition, increase in investments by hospitals in advanced wound care products to reduce hospital stay and to curb the overall cost burden by minimizing longer hospital stay of patients fuel the segment growth. Conversely, the community centers segment is expected to register the highest CAGR of 10.4% from 2020 to 2027. Factors such as effective treatment for different types of wounds, numerous benefits such as long-term care facilities in nursing homes or clinics at a relatively lower cost drive the segment growth.
Leading market players-
Adynxx, Inc.3M (Acelity Inc.)Coloplast A/SB Braun Melsungen AGEssity AB (BSN Medical GmbH)ConvaTec Group PlcInvestor AB (Mölnlycke Health Care AB)Integra Lifesciences (Derma sciences)Medline Industries, Inc.Johnson & Johnson
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