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Written by Kumar Satyam » Updated on: November 10th, 2024
According to TechSci Research's report, “North America Advanced Wound Care Management Market By Country, Competition Forecast & Opportunities, 2029”, the North America Advanced Wound Care Management Market stood at USD 4.86 billion in 2023 and is anticipated to grow with a CAGR of 8.17% in the forecast period, 2025-2029. The increasing incidence of chronic diseases, particularly diabetes, is a primary factor fueling the expansion of this market. Diabetes is a leading cause of chronic wounds, such as diabetic foot ulcers, which can be challenging to manage and significantly impact patients' quality of life. As the prevalence of diabetes continues to rise in North America, the demand for effective wound care solutions is also on the rise.
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The chronic wound segment remains the largest by wound type in the advanced wound care market. The rising number of diabetic foot ulcers, venous pressure ulcers, and other chronic wounds are driving the market. According to the Agency for Healthcare Research and Quality, approximately 2.4 million people in the US develop pressure ulcers each year. The increasing number of diabetic patients leads to a rise in foot ulcers, contributing to the market growth.
Innovation plays a crucial role in the North America Advanced Wound Care Management Market, with ongoing research and development efforts leading to the introduction of novel products and treatment modalities. Advanced dressings, bioengineered skin substitutes, negative pressure wound therapy systems, and growth factors are among the innovative solutions available to healthcare providers and patients. For instance, in October 2023, DuPont announced the launch of its new DuPont Liveo MG 7-9960 Soft Skin Adhesive, a low-cyclic silicone soft skin adhesive designed for advanced wound care dressings and adhering medical devices to the skin for long wear time and gentle removal.
The aging population in North America is a significant driver of the wound care management market. As people age, their risk of developing chronic wounds, pressure ulcers, and other skin-related issues increases. The elderly are more susceptible to skin breakdown due to reduced skin elasticity and circulation, making them a significant target demographic for wound care products and services. The World Health Organization (WHO) projects that the number of people over 60 years old will increase from 1 billion in 2020 to 2.1 billion by 2050.
One of the primary drivers of the North America Advanced Wound Care Management Market is the increasing incidence of chronic diseases, particularly diabetes. Diabetes is a leading cause of chronic wounds such as diabetic foot ulcers, which are difficult to manage and significantly affect patients' quality of life. As the prevalence of diabetes continues to rise, the demand for effective wound care solutions is also increasing.
According to WHO, 20 million to 50 million people suffer from non-fatal injuries due to road traffic crashes annually. This high incidence of injuries necessitates effective wound care management to prevent complications and promote healing.
Advancements in medical technologies have revolutionized wound care management, offering innovative solutions for more effective treatment and improved patient outcomes. The development of advanced wound dressings, negative pressure wound therapy systems, and electrical stimulation devices has significantly enhanced the ability to promote wound healing. These innovations not only facilitate the healing process but also improve patient comfort and reduce the risk of complications.
Favorable reimbursement policies and regulatory frameworks in North America support market growth by facilitating patient access to advanced wound care treatments and products. This conducive environment encourages adoption and innovation, contributing to the overall expansion of the North America Advanced Wound Care Management Market.
Several major companies are operating in the North America Advanced Wound Care Management Market, each contributing to the market's growth through innovative products and strategic initiatives. Some of the leading companies include:
These companies are employing various strategies to strengthen their market positions, including:
The United States has emerged as the dominant country in the North America Advanced Wound Care Management Market due to its sophisticated healthcare infrastructure, large and aging population, and strong culture of innovation. The presence of numerous academic institutions, medical centers, and pharmaceutical companies dedicated to advancing wound care technologies and treatments further solidifies the US's leadership position in this market.
The North America Advanced Wound Care Management Market is poised for significant growth, driven by the rising incidence of chronic diseases, technological advancements, an aging population, and favorable regulatory environments. The market is characterized by a high level of innovation, with leading companies continuously introducing novel products and therapies to meet the growing demand for effective wound care solutions. As the market continues to evolve, stakeholders can leverage the detailed insights and strategic recommendations provided in the research report to navigate the competitive landscape and capitalize on emerging opportunities.
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“The North America Advanced Wound Care Management Market is poised for substantial growth in the coming years. With an aging population and a rising incidence of chronic diseases, the demand for effective wound care solutions is increasing. Technological advancements, particularly in the development of advanced wound dressings and therapies, are transforming the landscape, enhancing treatment outcomes, and improving patient experiences. The shift towards patient-centric care and personalized treatment plans is expected to further drive market expansion, as healthcare providers focus on tailored approaches to meet individual patient needs. The United States, with its advanced healthcare infrastructure, significant healthcare expenditure, and research innovation, continues to lead the way in creating high demand for wound care management solutions.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.
“North America Advanced Wound Care Management Market Segmented By Product (Wound Care, Wound Closure), By Wound Type (Chronic Wound, Acute Wound), By Country, Competition, Forecast and Opportunities, 2029F”, has evaluated the future growth potential of North America Advanced Wound Care Management Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in North America Advanced Wound Care Management Market.
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