The size of the European Advanced Wound Care Market is estimated to be worth USD 3.67 billion by 2027 and USD 2.93 billion in 2022, growing at a CAGR of 4.63% during the forecast period.
The major factors driving the advanced wound care market in the European region are the growing occurrence rate of injured wounds, the increasing rate of diabetes occurrence, and a rising number of surgeries like a cesarean and many more. The growth of the advanced wound care market was achieved by new drugs and product launches, mergers, and collaboration of different stakeholders and key players, advancements in technologies towards superior wound care products in the past couple of years. Having excellent knowledge about wound management, increasing claims for wound care is surging the market growth in the United Kingdom. Every year around 2.2 million adults in the UK are found to have a wound as the number of wound cases in the UK increases with the highest CAGR.
An increasingly aging population mainly drives the European market, growing incidences of chronic wounds and diabetes, technological advances, increasing hospital costs, and government policies. The Incidences of various types of Ulcers, such as Pressure Ulcers, leg Ulcers, foot Ulcers, etc., vary between 0.07% to 0.09%. Also, 0.24% of the population in Europe is experiencing Chronic Wounds. In 2018, approximately 19 % of the people in Europe were aged 65 and more. The share of people aged 80 years or more should more than double by 2100 to reach 14.6 % of the population. This geriatric population acted as a driver to this market.
The volume of surgical procedures has been increased consistently. Various surgeries, such as hip implant surgeries, major peritoneal surgeries, thoracic surgeries, and ENT surgeries, and the surgeries for the central nervous system, were carried out. There is a growing demand for faster recovery from wounds. Specialized medical staplers known as surgical staplers are used as wound closures in place of sutures. The need for minimally invasive surgeries has risen, leading to expanding the surgical staplers’ segment.
Reimbursement issues and cost issues serve as factors that hinder the market in Europe. There are inadequate reimbursement policies undertaken by the government, which is hampering the market's growth rate. The cost associated with the procedure is expensive.
This research report on European Advanced Wound Care Market has been segmented and sub-segmented into the following categories:
Europe Advanced Wound Care Market - By Type:
Europe Advanced Wound Care Market - By Application:
Europe Advanced Wound Care Market - By End-User:
Europe Advanced Wound Care Market - By Country:
Regionally, Europe has the second-largest market for Advanced Wound Care products, after North America. The Europe Advanced Wound Care Market in this region has more significance, with trends showing that people desire more efficient solutions for their illnesses. This technology is especially inclined towards the elderly population in Europe, for whom easily accessible healthcare is paramount.
Within Europe, the Germany Advanced Wound Care Market is projected to lead the European advanced wound care market and is expected to continue its dominance throughout the period and owes to advanced technologies, growing government funds, and investments towards wound care research fueling the market. Moreover, increasing demand for active wound care products and the treatment associated with them, particularly those in emerging nations, are likely to offer better opportunities. However, the cost associated with the procedure is so expensive, which can’t be affordable. Also, inadequate reimbursement policies towards the market may hamper the growth of this country in this region.
The UK advanced wound care market is expected to have a rapid CAGR growth during the period, and the increase is due to the growing occurrence of diabetes, which leads to the market growth of this region. The other factors include lifestyle disorders like foot ulcers, pressure ulcers, and venous ulcers, which propel the market. In the UK, every year, nearly 3.8 million people have diabetes. Moreover, the product approvals and their advancements in product technologies drive the UK market. The UK-based company Advanced Medical Solution Group plc has received FDA acceptance for high-performance dressing and silicone PHMB dressings from the US, which will assist in the ease of launching the products in the market to specific regions that may also influence the market growth.
Notable companies operating in the Europe Advanced Wound Care Market are Acelity L.P., Inc., Smith and Nephew Plc., Mölnlycke Health Care, ConvaTec, Coloplast Corp., 3M Healthcare, Medtronic, Integra Lifesciences Corporation, and Organogenesis Inc.
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