About Chronic Wound Management
A chronic wound is one that has not progressed through the stages of healing in a timely and ordered manner and has not exhibited significant healing progress after 30 days. Pressure, trauma, and/or lower extremity wounds, increased bacterial load, excessive proteases: degraded growth factors, matrix metalloproteinases (MMPs), degraded cell surface structures, senescent/aberrant cells, and ineffective treatment are all factors that can contribute to the wound becoming chronic. An elevated, hyperproliferative, but non-advancing wound margin is a common symptom of chronic wounds. The region around the wound will be irritated, which may have a negative impact on recovery. Chronic wounds can be caused by a variety of etiologies, including venous ulcers, diabetic ulcers, and pressure ulcers.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 6.8% |
The demand for Chronic Wound Management is increasing due to the rise in Accidents cases and Diabetic Patients. The Industry Leaders are Facing Stiff Competition from 3M, Mölnlycke, and ConvaTec among others who hold a major market share. Leading Companies are differentiating their services from competition to maintain their market position. Analyst at AMA Research estimates that Global Players will contribute the maximum growth to Global Chronic Wound Management market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Johnson & Johnson (United States), 3M (United States), Medtronic (Ireland), Carinal Health (United States), Medline (United States), Baxter (United States), Smith & Nephew PLC (United Kingdom), ConvaTech Group PLC (United Kingdom), Coloplast A/S (Denmark) and Integra Life Sciences Holdings Corporation (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Ilya Pharma (Sweden), Kane Biotech (Canada) and Adocia (France).
Segmentation Overview
AMA Research has segmented the market of Global Chronic Wound Management market by Type (Therapy Devices and Wound Care Dressings) and Region.
On the basis of geography, the market of Chronic Wound Management has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by End Users, the sub-segment i.e. Hospitals will boost the Chronic Wound Management market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Distribution Channel, the sub-segment i.e. Online {Company Website, E-Commerce Websites} will boost the Chronic Wound Management market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Chronic Type, the sub-segment i.e. Ulcers will boost the Chronic Wound Management market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Wound, the sub-segment i.e. Open Wound will boost the Chronic Wound Management market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Use of Smart Bandages for Chronic Diabetic Wounds
Market Growth Drivers:
Increase in Diabetics Patients Across the World and The Rise in Accidents Such as Road Accidents and Burns
Challenges:
Process of Surgical Wounds are Very Expensive and Sometimes there can be a Delayed Healing Especially in Diabetic Chronic Wound
Restraints:
In Clinical Trials, there is a Lack of Methodologic Consistency and Lack of Transparency, as well as the Difficulty of Reimbursement Procedure
Opportunities:
With Advanced Technologies for Chronic Wound Healing there is a Need for Improvement in Wound Healing Care
Market Leaders and their expansionary development strategies
In May 2023, LifeNet Health expands its portfolio of wound care solutions, adding revolutionary products such as TheraSkin, with the acquisition of the Bioventus Inc. wound care division. This step strengthens LifeNet Health's position as a global leader in regenerative medicine offering next-level wound care.
In June 2023, Evonik company, launches the wound dressing epicite balance onto the German market. This balance comes in three different sizes and will be distributed through the company Coopmed ApS to hospitals and homecare centers.
Key Target Audience
Venture and Capitalist, Health Care Organization, Hospitals and Clinics, Government and Research Organization, New entrants/investors and End-Use Industries
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.