The advanced wound care management market is driven by the increasing prevalence of chronic wounds, such as diabetic foot ulcers and pressure ulcers, and the growing aging population. The demand for innovative wound care products and therapies that provide faster healing and better outcomes is also boosting market growth. Additionally, the rising healthcare expenditure, favorable government initiatives, and increasing awareness regarding advanced wound care management among healthcare professionals and patients are further fueling market growth. However, the high cost of advanced wound care products and the lack of reimbursement in certain regions are expected to restrain market growth. The market is also characterized by intense competition among key players, which is driving innovation and product development in the industry.
The global Advanced Wound Care Management Market is estimated to be valued at US$ 13,197.9 million in 2022 and is expected to exhibit a CAGR of 6.8% during the forecast period (2022-2030).
Key Leaders in the Advanced Wound Care Management Industry:
1. Johnson & Johnson Services, Inc.
Founded in 1886, Johnson & Johnson is a multinational medical devices, pharmaceutical, and consumer goods company. It is headquartered in New Brunswick, New Jersey, USA, and operates in over 60 countries. In July 2021, the company announced the launch of its CONTOUR Precision Mesh with Flex-Fit technology, which is designed to provide better fit and comfort to patients undergoing hernia repair surgery.
2. 3M
Founded in 1902, 3M is a multinational conglomerate that produces a wide range of products, including healthcare products, consumer goods, and industrial equipment. It is headquartered in St. Paul, Minnesota, USA, and operates in over 70 countries. In October 2021 that it had launched a new advanced wound care dressing called Tegaderm CHG I.V. Securement Dressing, which helps to reduce the risk of central line-associated bloodstream infections.
3. Baxter
Founded in 1931, Baxter is a global medical products company that develops and manufactures medical devices, pharmaceuticals, and biotechnology products. It is headquartered in Deerfield, Illinois, USA, and operates in over 100 countries. In February, 2023 Miromatrix Medical Inc. and Baxter International Inc. announced a collaborative research agreement to help support additional treatment options for patients with acute liver failure (ALF) in need of organ support therapies.
4. Coloplast A/S
Founded in 1957, Coloplast is a Danish multinational company that develops and markets medical devices and services related to ostomy, urology, continence care, and wound care. It is headquartered in Humlebaek, Denmark, and operates in over 50 countries. In November 2021 that it had acquired Nine Continents Medical Inc., a medical device company specializing in advanced wound care products.
5. Integra LifeSciences
Founded in 1989, Integra LifeSciences is a global medical technology company that focuses on developing and manufacturing surgical instruments and implants for neurosurgery, orthopedic surgery, and wound care. It is headquartered in Princeton, New Jersey, USA, and operates in over 100 countries
6. Medtronic
Founded in 1949, Medtronic is a global medical technology company that develops and manufactures medical devices and supplies for a wide range of medical specialties. It is headquartered in Dublin, Ireland, and operates in over 150 countries.
7. Omeza
Founded in 2015, Omeza is a medical technology company that develops and markets advanced wound care products. It is headquartered in Sarasota, Florida, USA, and operates in the United States.
8. Cardinal Health
Founded in 1971, Cardinal Health is a multinational healthcare services and products company that distributes pharmaceuticals and medical products to healthcare providers. It is headquartered in Dublin, Ohio, USA, and operates in over 60 countries. In March, 2023 Cardinal Health announced its collaboration with Signify Health to offer in-home clinical and medication management services through its Outcomes™ business. This collaboration will help reduce costs and eliminate gaps in care for more than 2.3 million members nationwide to support their treatment journey from prescription to pharmacy to home.
9. Bactiguard AB
Founded in 2005, Bactiguard is a Swedish medical technology company that develops and markets solutions for infection prevention in healthcare. It is headquartered in Stockholm, Sweden, and operates in over 50 countries. In March, 2023 Bactiguard today announces the launch of its wound care offering in the UK and Ireland, in collaboration with Quintess Medical and their partner, full-service medical sales and distribution firm GS Medical.
10. Noventure
Founded in 2008, Noventure is a Spanish pharmaceutical company that specializes in the development and commercialization of innovative solutions for gastrointestinal and pediatric disorders. It is headquartered in Barcelona, Spain, and operates in over 70 countries. In September 2021 that it had acquired Laboratorios Gebro Pharma, a company specializing in wound care products and treatments.
*Definition- Advanced wound care management refers to the use of innovative and specialized products, therapies, and techniques to promote the healing of chronic wounds, such as diabetic foot ulcers and pressure ulcers, and prevent complications such as infection and amputation.
