The global advanced wound care market size is projected to reach USD 19.29 billion by 2030, according to a new report by Pharmanucleus, Inc. The market is expected to register a CAGR of 10.82% during the forecast period from 2023 to 2030.

The rising prevalence of chronic diseases such as diabetes and pressure ulcers is a major driver of market growth. According to the World Health Organisation (WHO), diabetes is the seventh leading cause of death globally. Diabetes impacted an estimated 422 million people in 2017, with the number expected to climb to 642 million by 2040. Another major public health concern is pressure ulcers. Pressure ulcers affect an estimated 2.5 million people in the United States each year, with the annual cost of treating these wounds estimated to be more than $25 billion.

Another important element driving market expansion is the growing elderly population. According to the World Health Organisation, the number of individuals aged 60 and more is predicted to rise from 962 million in 2017 to 2.1 billion by 2050. Chronic wounds, such as pressure ulcers and diabetic ulcers, are more common in the elderly population.

The advanced wound care market is divided into four sections:

  • Product type
  • Application
  • End user
  • Geography

The dressings sector is predicted to have the most market share over the forecast period. Dressings are used to keep wounds clean and to aid healing. They come in a range of shapes and sizes, including foam, film, and hydrocolloid.

The chronic wounds application is predicted to have the biggest market share over the projection period. Chronic wounds are wounds that heal slowly and can linger for weeks, months, or even years. Diabetes, pressure ulcers, and venous insufficiency are common causes.

Among end users, hospitals are predicted to have the greatest market share over the projection period. The majority of wound care services are provided by hospitals. They have the means and knowledge to offer patients with complete wound treatment.

During the projected period, the North American market is predicted to have the biggest market share. The rising incidence of chronic illnesses such as diabetes and pressure ulcers, as well as the rising prevalence of obesity, are driving market expansion in North America.