MarkNtel Advisors recently issued a research report where they stated that the Global Advanced Wound Care Market is anticipated to grow at around 3.72% CAGR during the forecast period, i.e., 2023-28. The increasing prevalence of chronic wounds across the globe such as diabetic foot ulcers, venous ulcers, pressure ulcers, etc., along with the increasing cases of obesity and diabetes and the rising number of aging residents who don’t have rapid healing capacities are likely to propel the growth of the Global Advanced Wound Care Market.
Furthermore, the escalating amount of surgical procedures across the world and the consequent flow regarding the instances of surgical wounds & infections along with the generous advancements in the medical and healthcare industry given the colossal investments by the government & the public/private segments are additional factors leading to the market growth.
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Moreover, the report further states that the benefits offered by the advanced wound care products such as quick healing of wounds on the internal as well as external end, retention of moisture, and backing in the absorption of necrotic tissues, which are efficient in the case of surgical site infections are also aiding in the growth of the Global Advanced Wound Care Market.
Evaluating the Segmentation of the Global Advanced Wound Care Market
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Dressings are anticipated to attain the highest share of the Global Advanced Wound Care Market in the forecast period 2023-28. The presence of an extensive variety of cost-efficient dressings such as foams, transparent films, hydrocolloids, alginates, hydrogels, etc., which are highly efficient in treating wound exudate is resulting in the growth of the dressings segment. Health professionals are increasingly adopting these dressings to treat wounds like lower limb ulcers, foot ulcers, and diabetes-related wounds, which are driving the expansion of the Global Advanced Wound Care Market. Moreover, the other factors aiding the market growth include the mounting geriatric population, a rising number of sports injuries, and associated risks of diabetes.
North America possesses a solid stance in the Global Advanced Wound Care Market owing to the strong rise in surgical processes in recent years. Moreover, the intensifying prevalence of chronic illnesses like diabetic ulcers, venous disease, and arterial injuries, is also resulting in the growing demand for innovative & progressive wound care products across the region. Also, the excellent infrastructure of the medical industry in the US & Canada, brilliant reimbursement policies, significant funding by the government, and the widening consumer demand for fewer hospital stays are projected to open opportunistic doors for the Advanced Wound Care Market in North America in the forecast years.
Top Competitors in the Global Advanced Wound Care Market
Companies like Smith & Nephew, Acelity, Coloplast, ConvaTec, Organogenesis, Molnlycke, Hartman, 3M, and Others are among the major companies standing in the competitive landscape of the Global Advanced Wound Care Market. These companies are among the prominent shareholders of the given market and are constantly seeking to strengthen their market position.
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