Advanced Wound Care Market worth 14.9 Billion USD by 2020 Advanced Wound Care Market

Advanced Wound Care Market worth 14.9 Billion USD by 2020

The global advanced wound care market is segmented on the basis of type, application, and end user.
Furthermore, the market is classified on the basis of geography into North America, Europe, Asia-Pacific,
and the rest of the world (RoW). The global advanced wound care market is expected to reach a value of
USD 14.9 billion by 2020 from USD 9.9 billion in 2014, at a CAGR of 7.0% from 2015 to 2020. This
growth can be attributed to the rapid growth in aging population and technological advancements.

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Increasing awareness about wound care management, high growth potential of the emerging economies,
and increasing number of acquisitions by key companies have opened an array of opportunities for the
growth of the global advanced wound care market in the coming years. However, high costs of advanced
wound care products may restrict the growth of this market.
By type, the global advanced wound care market is divided into dressings, therapy devices, and active
wound care. The dressings segment, which accounted for the largest share of 47.8% of the global
advanced wound care market in 2014, is expected to grow at a CAGR of 6.9% during the forecast period.
By application, the market is segmented into surgical wounds, ulcers, and others, of which the surgical
wounds segment accounted for the largest share of 43.3% of the global advanced wound care market in
2014. By end user, the market is further classified into inpatient facilities and outpatient facilities. The
inpatient facilities segment accounted for the largest market share of 72.2% in 2014.
The emerging economies are expected to become a focal point for growth of the global advanced wound
care market. The Asia-Pacific region is a relatively untapped market for the companies dealing in wound
care products as compared to the European and North American regions and, therefore, has a huge
growth potential. Owing to this growth potential, various prominent market players are investing in this
region. In December 2012, ConvaTec, Inc. (U.S.) started its operations in Bangalore, India.
Citing the potential and demand of active wound care products, the companies operating in this market
are engaged in the development of new and advanced products. For instance, in June 2014, Tissue
Regenix Group Plc (U.K.) launched the artificial skin graft, DermaPure dermis allograft in the U.S.
The major companies in this market include Acelity L.P., Inc. (U.S.), Smith and Nephew Plc. (U.K),
Integra Lifesciences Corporation (U.S.), Mölnlycke Health Care (Sweden), ConvaTec, Inc. (U.S.),
Coloplast Corp. (Denmark), Organogenesis Inc. (U.S.), Medline Industries, Inc. (U.S.), and MPM Medical,
Inc. (RBC Life Sciences, Inc.) (U.S.), among others. These companies have adopted various strategies,
such as mergers & acquisitions and partnerships, among others, to achieve growth in the global
anesthesia monitoring devices market.