U.S. Advanced Wound Care Market Size, Share, Market Research and Industry Forecast Report, 2025 (Includes Business Impact of COVID-19)

                                          
Industry Insights, Market Size, CAGR, High-Level Analysis: U.S. Advanced Wound Care Market


The U.S. advanced wound care market size was valued at USD 2.46 billion in 2018 and is expected to grow at a CAGR of 4.2% over the forecast period. The need for advanced wound care products is increasing owing to growing incidence of chronic wounds, increasing demand for reducing hospital stay, and rising number of surgeries in the U.S.

Rising incidence of chronic diseases such as diabetes, cancer, and other autoimmune disorders is anticipated to increase the incidence rate of chronic wounds in the U.S. Factors such as antimicrobial resistance, unhealthy & sedentary lifestyles, and tobacco & alcohol consumption are contributing to rising prevalence of noncommunicable diseases. According to National Diabetes Statistics Report 2017, published by CDC, more than 100.0 million people in the U.S. were living with diabetes or prediabetes conditions.

Cancer is also considered to be a healthcare burden, as it is one of the leading causes of deaths in the country. According to estimates from Cancer Organization, in 2018, cancer was the second leading cause of death and about 1,735,350 new cancer cases were registered in the U.S. In addition, nearly 4,700 new cases of cancer are diagnosed each day in the country.

Rising number of surgeries is also one of the major factors driving market growth. The number of surgeries is increasing owing to rising prevalence of chronic conditions. Wound care products, thus, are increasingly being used to prevent surgical site infections. Most surgical wounds, post cancer surgery, are relatively larger in size and deep, releasing exudates that require regular management. Advanced products such as hydrogel, alginate, and foam help manage large wounds, thereby significantly reducing the risk of infection. Thus, rising incidence of chronic diseases is expected to boost demand for wound care products, thus aiding growth.

Rising number of surgical procedures is also expected to boost demand for home healthcare services. According to the American Society for Metabolic and Bariatric Surgery in 2018, the number of people underwent sleeve gastrectomy increased by 8.05% from 2016 to 2017 in the U.S. Patients undergoing surgeries are required to stay at hospitals for a longer period of time; thus, most patients prefer home healthcare services over hospital stays. These services offer several advantages such as personal care and home-delivered meals, among others. Therefore, these factors are likely to boost demand for home healthcare services, thereby fueling market growth during the forecast period.

Product Insights of U.S. Advanced Wound Care Market

Foam dressings segment of the U.S. advanced wound care market held the largest share in 2018. Foam dressings are made of hydrophilic polyurethane, which is a highly absorbent material. Foam helps in absorbing moisture that aids in maintaining the integrity of tissue. Increasing cases of burns and trauma across the globe are expected to propel segment growth. For instance, as per the American Burn Association in 2016, around 486,000 people were given medical treatment due to burn injuries in the U.S. It also reported that complications of infection have accounted to be highest in burn patients. Foam is majorly used to prevent and heal exudation of burn injuries and hence increasing cases of such incidents is expected to boost segment growth over the forecast period.

Hydrocolloid dressings is anticipated to witness the fastest growth over the forecast period. These are made of gel forming agents such as carboxy methylcellulose and gelatin. These material are occlusive and help in moisture retention. These dressings allow rapid healing and are impermeable to any type of bacterial infection. Thus, it helps protect wound internally as well as externally. Rising incidence of diabetes in the U.S. is expected to promote segment growth over the forecast period. For instance, as per the CDC in 2015, around 5.0% of the people in the U.S. were diagnosed with type 1 diabetes and approximately around 15.0% of this diabetic population suffers from diabetic wounds or diabetic ulcers. Hence, such instances are expected to boost demand for hydrocolloid wound care over the forecast period.

End-use Insights

On the basis of end use, this market has been segmented into hospitals, specialty clinics, home healthcare, and others. The hospitals segment held the largest share in 2018. The increasing cases of diabetic foot ulcers and venous leg ulcers are major factors driving segment growth. In addition, increasing cases of surgical wounds due to rising number of surgeries is also boosting segment growth. Advanced wound care dressings are generally used for healing surgical site infections. Thus, such factors may surge segment growth over the forecast period.

The home healthcare segment is expected to witness fastest growth over the forecast period. Most of the surgeries require prolonged recovery period, leading to frequent changing of dressings. Thus, demand for advanced wound care products in home healthcare setting is increasing. Moreover, geriatric & bariatric population and patients suffering from chronic wounds prefer homecare over hospital stays.

Application Insights of U.S. Advanced Wound Care Market

On the basis of application, the market is segmented into chronic and acute wounds. The acute wounds segment held the largest share in 2018. This segment consists of surgical & traumatic wounds and burns. The surgical & traumatic wounds segment held the largest share in 2018 owing to increasing cases of trauma in the U.S. The burns segment is anticipated to witness fastest growth rate over the forecast period owing to rising incidence of burn injuries.

The chronic wounds segment is anticipated to witness fastest growth over the forecast period. Increasing cases of chronic diseases, especially diabetes, and rising geriatric population in the country are major factors driving segment growth. For instance, as per the United States Census Bureau, the number of people aged 65 or older grew by 1.6 million, from 2014 to 2015. This segment is further divided into diabetic foot ulcers, pressure ulcers, venous leg ulcers, and others.

Market Share Insights of U.S. Advanced Wound Care Market

Some prominent players operating in the market are Smith & Nephew; Molnlycke Health Care AB; Acelity (KCI Licensing, Inc.); Convatec Group PLC; and Baxter. Key players are involved in adopting strategies such as mergers & acquisitions, agreements, and partnerships to strengthen their position in the market.

For instance, in April 2019, Smith & Nephew acquired Osiris Therapeutics, Inc. with an intention of expediting development of its advanced wound management product portfolio. The initiative was anticipated to expand its customer pool. Furthermore, in May 2019, 3M entered into a definitive agreement to acquire advanced wound care & specialty surgical solutions segments of Acelity and its KCI Subsidiaries with an aim to expand the companys product portfolio. The acquisition is anticipated to complete in the second half of 2019.

Segmentations, Sub Segmentations, CAGR, & High-Level Analysis overview of U.S. Advanced Wound Care Market Research Report
This report forecasts revenue growth at country level and provides an analysis on the latest industry trends in each of the sub-segments from 2015 to 2026. For the purpose of this study, this market research report has segmented the U.S. advanced wound care market report on the basis of product, end use, and application:

Product Outlook (Revenue, USD Million, 2019 - 2030)

  
Foam
  
Hydrocolloid
  
Film
  
Alginate
  
Hydrogel
  
Collagen
  
Others

End-use Outlook (Revenue, USD Million, 2019 - 2030)

  
Hospitals
  
Specialty Clinics
  
Home Healthcare
  
Others

Application Outlook (Revenue, USD Million, 2019 - 2030)

  
Chronic Wounds
  
Diabetic Foot Ulcers
  
Pressure Ulcers
  
Venous Leg Ulcers
  
Others
  
Acute Wounds
  
Surgical and Traumatic Wounds
  
Burns