The global advanced wound care market size is estimated to grow from USD 11.57 billion in 2024 to USD 20.21 billion by 2035, representing a CAGR of 5.20% during the forecast period till 2035.

The advanced wound care market is predominantly characterized by the presence of small and mid-sized players, which constitutes close to 65% of all the players. Further, majority of the advanced wound care manufacturers are located in North America (68%). This is followed by the players based in Europe (21%) and Asia-Pacific (8%). Examples of wound care companies based in North America (in alphabetical order, very small players established post-2015) include, Accel-Heal Technologies (2019), AIROS Medical (2016), Cannenta (2017), Carepics (2016) and ClexBio (2021).

In recent years, advanced wound care manufacturers have focused on widening their capabilities to offer dynamic advanced wound care products in order to meet the growing demand across various wound care segments. In fact, majority (43%) of the advanced wound care manufacturers are currently focused on the manufacturing of advanced wound care dressings. This is followed by the manufacturers (42%) who are focused on the manufacturing of bioengineered skins and dermal substitutes for wound care management.

Majority (55%) of the wound care companies focused on bioengineered skins and dermal substitutes are engaged in the manufacturing of allografts. This is followed by extracellular matrices, which are manufactured by close to 50% of all the bioengineered skin and dermal substitute manufacturers. Examples of wound care companies manufacturing both advanced wound care dressings and bioengineered skins and dermal substitutes (in alphabetical order, very large players) include Coloplast, Essity, McKesson, Medline Industries, and Smith+Nephew.

Company Competitiveness Analysis - Attaining a competitive edge over other companies by offering potent advanced wound care products.

In order to build a sustainable competitive edge in the market, wound care companies are actively focusing on offering advanced wound care products which are economic in cost and can treat a wide range of wounds. The wound care companies considered in this analysis have been scored based on supplier strength (in terms of years of experience of the player) and company competitiveness (in terms of number of wound care products offered and number and types of wounds treated).

The increasing traction in the advanced wound care market is evident from number of deals inked by the players in the recent past. During our research, we were able to identify several partnership / collaboration agreements inked by wound care companies during the time-period, 2020-2023.

Number of partnerships inked related to advanced wound care products have increased significantly over the last few years. It is worth highlighting that majority of the partnerships were recorded in 2021. The rise in partnership activity in the domain can be attributed to an increase in incidence of surgical site infections and rising prevalence of chronic diseases. Additionally, it is worth highlighting that majority of the agreements (94%) inked within this domain were signed with the industry players. Further, majority of the agreements signed within this domain were acquisitions and distribution agreements (25%, each). Further, North America emerged as the foremost region, where majority of the intercontinental and intracontinental partnerships have been signed by the players engaged in this domain.

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