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The wound irrigation solution market size is estimated to grow at a CAGR of 4.27% between 2022 and 2027. The market size is forecast to increase by USD 68.32 million. The growth of the market depends on several factors such as the increasing volume of surgical procedures, rising awareness of wound treatment, and increasing demand for advanced antiseptic solutions.
This wound irrigation solution market report extensively covers market segmentation by product (wetting agents and antiseptics), end-user (hospitals, ASCs, clinics, and others), and geography (North America, Europe, Asia, and the Rest of the World (ROW)). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The increasing volume of surgical procedures is the key driver for the growth of the market. Surgical procedures are medical interventions that create a small incision or wound where surgery is performed on the patient's body. The increasing incidence of cardiovascular, orthopedic, gynecological, general, and ophthalmic surgery, subsequently increases the need for wound-washing solutions as they are designed to support the wound and act on the edge of the wound tissue by closing the tissue together.
Furthermore, in September 2022, the CDC reported that more than 877,500 people in the US die each year from stroke, heart disease, or other cardiovascular diseases. In such cases, multiple surgeries are performed, which stimulates the use of a wound irrigation system. An increasing number of chronic diseases will lead to surgical procedures, which is expected to drive the growth of the global wound irrigation solution market during the forecast period.
The growing incidence of chronic and lifestyle-related diseases is the key trend in the global wound irrigation solution market. Due to changing lifestyles and the rising incidence of chronic diseases, there is an increase in the number of surgeries which is a major factor driving the growth of the global wound irrigation system market. In the US, the incidence of chronic wounds is expected to increase with the aging population. Lifestyle diseases make it difficult for wounds to heal and in many cases are made worse by infection. Lifestyle changes such as eating a lot of fatty acids and sugary foods cause diseases like diabetes, which can lead to ulcers.
Moreover, with the increase in R&D activities, the efficiency of healthcare services has increased dramatically and treatments for chronic diseases and wounds are becoming more precise through the use of advanced equipment. One of those products is a wound irrigation solution that is widely used in surgery and in the treatment of burns. Hence, the increasing prevalence of chronic and lifestyle-related diseases will drive the growth of the global wound irrigation solutions market during the forecast period.
Intense price competition among companies operating in the wound irrigation solution market affects market growth. Since product differences between individual suppliers are small or insignificant, the only competitive point that remains relevant is pricing strategy. This has prompted many suppliers to offer wound irrigation systems at lower prices than their competitors, thereby increasing competition. It has also encouraged major suppliers to use low-pricing strategies to maintain market share and expand reach.
Moreover, many international suppliers also face high threats from regional and local suppliers. Domestic pharmaceutical companies in countries such as India and China have started to introduce chemically similar solutions, which are priced lower than the big brands. This significantly affects the growth of the market which in turn will impede the growth of the global wound irrigation solutions market during the forecast period.
The market research 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 report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Wound Irrigation Solution Market Customer Landscape
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.
3M Co.: The company offers wound irrigation solutions through its brand 3M.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
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 wetting agents segment is estimated to witness significant growth during the forecast period. Basic types of wound irrigation solutions, known as wetting agents, are commonly used for purposes such as removing foreign contaminants, dead mass, and cellular fluid from the wound surface, residues from topical medication for wound care, and for washing deep cuts and visceral wounds. Besides cleaning the wound, the main purpose of wetting agents is to promote wound hydration and easily facilitate wound examination.
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The wetting agents segment was the largest segment and was valued at USD 161.81 million in 2017. The basic wetting agents are a simple saline solution, povidone-iodine mixture, or hydrogen peroxide solution, which is poured continuously or intermittently onto the wound using syringes or other devices. They are used in large quantities in medical settings to hydrate wounds but have been found to have significantly low household adoption. This is due to the widespread use of potable or distilled water and homemade saline solutions at the user level. Thus, such factors will drive the growth of the segment during the forecast period.
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Asia is estimated to contribute 34% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Another region showing growth momentum is North America. The market for wound irrigation solutions in North America is mainly driven by demand in the US, followed by Canada. Consumers in North America are more interested in advanced wound care products and solutions owing to increasing infection risk awareness and large-scale promotional activities by pharmaceutical companies, trade, and institutional organizations about the potential benefits of specialized wound care products.
Moreover, an increase in the number of patients with diabetes and obesity increases the incidence of ulcers or sores. Because wound healing is slow, patients with diabetic foot ulcers are often hospitalized due to infection or various complications related to the ulcer. Therefore, in order to improve wound healing and reduce the risk of infection, the need for wound-irrigation solutions is increasing. The growing diabetic population in North America is driving the demand for wound irrigation solutions. Hence, such factors will drive the growth of the market during the forecast period.
In 2020, the outbreak of COVID-19 negatively impacted the growth of the regional wound irrigation solution market. However, in 2021, the initiation of large-scale vaccination drives?lifted the lockdown restrictions, which led to the resumption of regular surgical procedures and treatments in North America. The rising number of new product launches, partnerships, and mergers and acquisitions (M&A) by the market players will drive the growth of the regional wound irrigation solution market during the forecast period.
The wound irrigation solution market 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 Irrigation Solution Market Scope |
|
Report Coverage |
Details |
Page number |
163 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.27% |
Market growth 2023-2027 |
USD 68.32 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
3.75 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
Asia at 34% |
Key countries |
US, Germany, UK, France, and China |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
3M Co., Argentum Medical LLC, Axio Biosolutions Pvt. Ltd., B.Braun SE, Becton Dickinson and Co., Bionix LLC, Cardinal Health Inc., Coloplast AS, ConvaTec Group Plc, Irrimax Corp, Medline Industries LP, Molnlycke Health Care AB, Next Science Ltd, Sanara Medtech Inc., Schulke and Mayr GmbH, Smith and Nephew plc, and Innovacyn Inc. |
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 the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
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 End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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