Industry Trends

North America Advanced Wound Care Market size surpassed USD 4.4 billion in 2020 and is estimated to expand at over 4.1% CAGR between 2021 and 2027.

Surging prevalence of chronic disorders including diabetic foot ulcers, obesity and other diseases will enhance the need for advanced wound care products such as wound therapy devices and wound dressings. For instance, according to the Centres for Disease Control and Prevention (CDC), about 6 in 10 adults across the U.S. are suffering from chronic disorders. Similarly, as per the American Diabetes Association, around 34.2 million Americans had diabetes in 2018. Thus, rising prevalence of chronic disorders among in the U.S. will create huge demand for advanced wound care products.
 

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North American Market, By Product

The wound therapy devices segment accounted for around USD 1.5 billion revenue in 2020. Wound therapy devices such as pressure relief devices, negative pressure wound therapy, and electrostimulation devices have wide applications in aesthetic surgeries and tissue repair. Key industry players have developed portable wound therapy products that offers convenience and can be utilized at home for chronic wound treatments such as foot ulcers.

North American Market, By Application

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Skin burns segment held for over USD 1 billion market value in 2020. Surging cases of skin burns will pave the way for advanced wound care products. Increasing preference for advanced wound care therapies in treating skin burns will foster the segment growth. Advancements in wound care management have improved several aspects of burn care including intensive care and surgical management. 

North American Market, By End-use

The hospitals segment dominated over 40% market share in 2020 due to rising application of wound therapy devices in hospitals for effective wound care. Availability of skilled healthcare professional’s for curing road accidents and trauma patients with well-developed infrastructure in hospital settings will further stimulate the industry progression.

North American Market, By Country

The U.S. advanced wound care market is predicted to observe a growth rate of 3.5% through 2027. Rising incidences of chronic disorders such as obesity, diabetes, along with significant rise in occurrence of chronic wounds will spur the market expansion. Rising number of diabetic injuries in patients can create significant demand for advanced wound care products.

Competitive Market Share

Some of the prominent players operating in the industry include Smith & Nephew, 3M, Medtronic, Coloplast, Hartmann International, B. Braun, Lohmann & Rauscher, ConvaTec Group, and others.

These business players are undertaking several organic and inorganic growth strategies to capture larger market revenue in the industry. For instance, in July 2019, Integra LifeSciences announced partnership with Tissue Analytics for developing and advancing wound repair products. The strategic move aimed at widening its existing product offerings.