According to the research report titled ‘Europe Advanced Wound Care Market Size, By End-use, By Product, By Application, Research Report, Country Outlook, Price Trends, Growth Prospects, Competitive Industry Share & Forecasts, 2021 – 2027’, available with Market Study Report, Europe advanced wound care market to reach a valuation of USD 4.2 billion over 2021-2027.
 

Increasing surgical procedures with soaring instances of road accidents and patients with surgical wounds, coupled with introduction of technologically advanced products are propelling Europe advanced wound care market growth.

 

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Additionally, surging geriatric populace with higher susceptibility to chronic diseases like diabetes is also catalyzing the growth of the industry. On the contrary, high cost of medical equipment is likely to restrain the market expansion in the coming years.

 

Based on product gamut, the industry space is classified into wound dressing, wound therapy devices, and others. The wound dressing segment is poised to grow at 3.5% CAGR through 2027, owing to increasing road accidents leading to minor and major injuries. On the other hand, wound therapy devices segment is slated to record a y-o-y growth rate of 4.9% over the forecast period, owing to rising research & development activities, alongside quick recovery and reduced closure time for chronic wounds offered by these devices.
 

In terms of application, Europe advanced wound care industry is bifurcated into skin burns, surgical wounds, diabetic wounds, venous leg ulcers, pressure wounds, and others. Of these, diabetic wounds segment share is likely to grow significantly over 2021-2027, owing to huge diabetic patient pool and slower wound heating rate in these individuals.

 

Speaking of end user terrain, the industry vertical is fragmented into homecare settings, hospitals, and others. The report cites that hospital segment generated USD 1.2 billion revenue in 2020 and is expected to grow further during the forecast duration, owing to investments by stakeholders to improve facilities and adoption of wound therapy devices for treating diabetic foot ulcers resulting in surge in patient admission. On the other hand, homecare segment surpassed USD 905 million in 2020 and is anticipated to grow momentously by 2027, accredited to preference for these settings to avert hospital acquired infections, and prospect of safe treatment in home environment.  

 

Regionally, the U.K. industry outlook is poised to spur with a CAGR of 4% through 2027, owing to rising income level, increasing instances of chronic disorders like diabetes and foot ulcers, and higher healthcare expenditure.

Some leading companies in Europe advanced wound care industry sphere are Lohmann & Rauscher, Beiersdorf AG, Derma Sciences, Hartmann Group, Medline Industries Inc., Coloplast A/S, Organogenesis Holdings Inc., The 3M Company, Smith & Nephew plc, B. Braun Melsungen AG, Integra LifeSciences Holdings Corporation, Mölnlycke Health Care, ConvaTec Group plc, Medtronic plc, and Hollister Incorporated among others.