Enjoy complimentary customisation on priority with our Enterprise License!
The Wound Care Market size is estimated to grow by USD 6.83 billion at a compound annual growth rate (CAGR) of 5.98% between 2022 and 2027.
The utilization of advanced products in hospitals and ASCs has led to a notable increase in both acute and chronic wounds. The increasing incidence of acute cuts can be attributed to factors such as abrasion, puncture, laceration, and incision, while chronic wounds such as diabetic ulcers, venous ulcers, and pressure ulcers are also becoming more prevalent, thereby driving up the demand for advanced devices. Data from the National Institutes of Health (NIH) reveal that nearly 2% of the US population was affected by chronic wounds in 2019, with a growing trend globally due to the increasing prevalence of diabetes mellitus.
Furthermore, delayed inflammatory responses in older adults negatively impact the healing process, resulting in heightened demand for services compared to younger populations. The escalating number of elderly individuals affected by acute and chronic wounds is anticipated to drive a significant increase in surgical procedures.
To learn more about this report, Request Free Sample
There are multiple factors influencing market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges.
Increasing demand for combination dressings is the primary market trends. In the global market, popular antimicrobials include honey, iodine, and silver. To enhance treatment outcomes, numerous advanced dressings incorporate antimicrobial agents. Due to their numerous benefits, combination dressings are increasingly popular among consumers. Alginate dressings with microbial properties are made by combining silver agents into fibers. These dressings both prevent infections and provide moisture at the site of the wound by absorbing a small amount of the exudate.
Moreover, Hydrofiber dressing containing silver is also administered in combination with hyaluronan gel containing zinc to promote healing, provide protection against infections, and create a suitable environment for wound healing. Many Companies, For instance, Derma Sciences and Coloplast, offer advanced combination dressings. Similarly, MEDIHONEY by Derma Sciences is an alginate dressing combined with honey. These have various advantages, such as it helps reduce the overall pH levels in the wound and eliminate bacterial infections. It also provides a better environment for healing. Biatain Ibu dressing offered by Coloplast is a soft, flexible absorbent foam dressing that contains ibuprofen. It reduces pain while changing the dressing. Therefore, combination dressings are important in treating high-exuding wounds, which lead to the the market growth during the forecast period.
The high cost of wound treatments and advanced products is the major challenge for the market. In the US, the expenditure exceeds USD 45- USD 55 billion in the US. Most patients also require frequent changes of dressings. The initial purchase cost of conventional NPWT devices is around USD20,000-USD30,000. End-users also have to pay additional costs for the disposables or consumables used along with NPWT devices, such as dressings and canisters.
Furthermore, owing to lengthy hospital stays, material-intensive surgical and non-surgical care, and the need for multiple procedures, long-term rehabilitation, and expensive equipment, the treatment of traumatic injuries is so expensive. Hence, the total healthcare cost per burn patient in high-income countries is more than USD 85,000. Due to the increases in the cost of treatment. Many patients from low and middle-income countries cannot afford such expensive treatments. Many countries, such as Australia, have limited funding for chronic care. Therefore, patients must bear high out-of-pocket costs for treatments. This will influence the market growth and trends during the forecast period.
Buy Now Full Report and Discover More
The market share growth by the advanced wound segment will be significant during the forecast period. Advanced dressings are designed to treat complex wounds, they include moist dressings and antimicrobial dressings. The advanced wound dressing segment is expected to grow rapidly during the forecast period, due to the rising incidence of chronic wounds and burns, the increasing population, clinics, and new product launches. Although, competition among companies, the high cost of advanced wound dressings, and the limited scope for product differentiation, which leads to price wars, is affecting the growth of this segment.
Get a glance at the market contribution of various segments View a PDF Sample
The advanced dressings segment was valued at USD 6.87 billion in 2017. Many end-users, such as hospitals and ambulatory surgical centers (ASCs), are rising to adopt moist dressings because they maintain a hydrated environment around the wound site, ensure oxygen flow, and remove dead tissue. They are cost-effective and easy to use. Factors such as the increasing awareness about the clinical benefits of advanced dressings, the rising number of procedures, the presence of a large number of key companies, the increasing preference for minimal and non-invasive procedures, and the increasing adoption of antimicrobial dressings by end-users are attributing the advanced segment. Hence, the above-mentioned factors will boost the growth of the market through the advanced dressing segment during the forecast period.
The chronic wound segment of the market is growing owing to the rising prevalence of chronic diseases, such as diabetes, obesity, cancer, and cardiovascular diseases (CVDs). all of these diseases are major risk factors for the development of chronic wounds. According to the Centers for Disease Control (CDC), in the US, 6 out of 10 adults have a chronic disease, also 4 in 10 adults have two or more chronic symptoms. Chronic diseases are the rise in death and disability and the leading reasons for the nation's spending of USD 4.1 trillion in annual healthcare costs. The pandemic also contributed to the demand for chronic wounds. Hence, the rising number of chronic disease conditions worldwide and the complexity of these wounds are expected to drive the market growth during the forecast period.
For more insights about the market share of various regions View PDF Sample now!
North America is estimated to contribute 41% to contribute to the market growth during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that will shape the market during the forecast period. The US and Canada are key countries contributing to the growth in this region. The growing prevalence of acute and chronic wounds, the increasing number of surgical procedures, the adoption of technologically advanced NPWT devices, and the significant market presence of leading companies are the main factors for the growth of the market in the region.
Buy Now Full Report and Discover More
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market. The market trends and analysis report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
3M Co.: The company offers Closed Surgical Incision Management, Pressure Injury Prevention and Management, and Wound Care Solutions in the clinic, community, and at home.
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market research and growth report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market growth and forecasting report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Customer Landscape
The global wound care market witnesses substantial growth, driven by increasing surgical cases and chronic conditions like diabetes. According to the Centers for Disease Control and Prevention (CDC), Americans face rising risks, particularly with prediabetes leading to diabetic foot ulcers and non-traumatic amputations. Products like hydrocolloid dressings aid in managing wounds, including necrotic tissues and surgical site infections. A WHO report highlights the impact of road traffic accidents, necessitating advanced wound care solutions. Collagenase-based enzymatic debridement products are prominent in surgeries across urology, orthopedics, and plastic surgeries.
Medicare-certified ASCs, navigates wound care industry trends, introducing innovations like smart dressings and bioengineered tissues. Technologies such as digital wound monitoring and smart bandages enhance wound management, crucial for an aging population. Regulatory compliance and reimbursement policies shape the landscape, while telemedicine and remote monitoring technologies extend wound care into home healthcare settings, catering to diverse needs from acute wounds to chronic conditions like diabetic foot ulcers and venous leg ulcers.
The market growth analysis report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Wound Care Market Scope |
|
Report Coverage |
Details |
Page number |
158 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.98% |
Market growth 2023-2027 |
USD 6,834.57 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
5.22 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
North America at 41% |
Key countries |
US, Germany, France, UK, and Japan |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
3M Co., Advancis Medical, Avery Dennison Corp., Axio Biosolutions Pvt. Ltd., Azelis SA, B.Braun SE, Cardinal Health Inc., Coloplast AS, ConvaTec Group Plc, Galaxy Medicare Ltd., Harro Hofliger GmbH, Johnson and Johnson Services Inc., Medline Industries LP, Medtronic Plc, Molnlycke Health Care AB, Organogenesis Holdings Inc., Paul Hartmann AG, Resonetics, Smith and Nephew plc, and URGO Group |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period. |
Customization purview |
If our market report forecasting report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
View Sample PDF at your Fingertips
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Get lifetime access to our
Technavio Insights
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.