Wound Care Market Size Is Estimated to Be Valued at USD 30.2 Billion by 2032, at a CAGR of 5.2%

According to Market.us, the estimated value of the global wound care market in terms of revenue was US$ 18.4 billion in 2022 and is anticipated to increase to US$ 30.2 billion by 2032, growing at a CAGR of 5.2% from 2023 to 2032, Owing to Surging Number of Individuals Are Experiencing Acute and Ongoing Wounds


Pune, March 06, 2023 (GLOBE NEWSWIRE) -- The global wound care market was worth USD 18.4 billion in 2022 and is projected to reach USD 30.2 billion by 2032, exhibiting a CAGR of 5.2% in the forecast period (2023-2032). Between 2023 and 2032, this market is anticipated to grow at the highest CAGR of 5.2%. It is estimated that healing will go through the anticipated stages of wound healing since a wound is a disturbance of the normal structure and function of skin and soft tissue. In addition, a chronic wound is one that has physiological impairment. Wound care promotes healthy healing by concentrating on wounds that have injured or damaged the skin's underlying structure.

wound care market value

Get additional highlights on major revenue-generating segments, Request a wound care market sample report at https://market.us/report/wound-care-market/request-sample/

Key Takeaway:

  • By type, the wound care market's most lucrative segment will be advanced wound dressing, which is expected to have the largest revenue share throughout the forecast period.
  • By application, since it currently holds the largest market share, the chronic wounds segment is expected to grow significantly over the course of the forecast period.
  • By end-user, due to the rise in multispecialty hospitals with departments specialized in wound management, particularly in emerging countries, the hospital sector accounts for the largest share of the market.
  • With 45% of the market's revenue, North America had the largest revenue share for wound care. Over the forecast period, this region is anticipated to increase significantly.

Acute and chronic wounds, as well as any other healing or repair of injured human tissue, including injuries brought on by therapeutic radiation and mild burns, fall under the umbrella of the wound care industry, which expressly excludes the burning business. By providing adequate fluid balance, co-efficiency, and convenience for the patients and nursing staff, wound dressing aids in the removal of dead space and the prevention of bacterial growth. As a result of numerous technical developments, the global market for wound care has become the norm for treating both acute and chronic wounds. 

Factors affecting the growth of the Wound Care industry

  • Surging diabetes levels that have an impact on wound healing: Diabetes has a negative impact on how effectively wounds heal. The prevalence of diabetes has dramatically increased over the years, along with cases of acute and chronic wounds.
  • Growing geriatric population: An increase in the number of elderly population has also led to an increase in surgical procedures. The complexity of wounds has risen, particularly for infections, ulcerations, and other chronic wounds, as a result of increasing obesity rates and other health issues.
  • Product approvals by regulatory agencies are increasing: Government agencies are undertaking initiatives to introduce new products into the market for improved wound management. As a result, a rising number of product approvals is anticipated to fuel this market's further expansion.
  • Increasing Ambulatory Surgical Centers (ASCs):  Surge in the number of Ambulatory Surgical Centers (ASCs) is anticipated to fuel the wound care industry. ASCs provide a range of treatments, including diagnostic tests, surgical treatment, and wellness checks. Ambulatory surgical facilities also do procedures pertaining to the Gastro-Intestinal (GI) system, orthopaedics, urology, restorative, reconstructive, or alternative plastic surgery. Also, as they become more prevalent, ASCs provide services that are affordable.

To understand how our wound care market report can bring a difference to your business strategy, Inquire about a brochure at https://market.us/report/wound-care-market/#inquiry

Top Trends in Global Wound Care Market

In response to the increasing demand for patients who need immediate, effective wound management, various companies are entering in this market by focusing on dermal replacements and cell-based therapies. The success of smaller and larger businesses has increased owing to the great R&D capabilities. The trend among major players is to acquire this small start-up and use their ingenuity and technologies to create cutting-edge products.

Market Growth

An increasing number of surgical cases and a surge in the frequency of chronic diseases around the globe are driving the demand for wound care and wound healing solutions. Another important factor fuelling this market expansion is the increasing prevalence of diabetes spurred on by sedentary lifestyles. For instance, the American Diabetes Association estimates that in 2018, there were 34.2 million cases of diabetes, or 10.5% of the US population. Moreover, 187,000 children and adolescents made up the approximately 1.6 million Americans, who had type 1 diabetes.

Regional Analysis

With a 45% revenue share, North America has the largest market for wound care and is expected to expand significantly during the forecast period. Large populations and a growing patient base in countries like the United States are important market expansion factors in this region. Also, because the elderly are more prone to wounds, there will be an increase in the need for products to treat and repair wounds in this area. The demand for wound care products in North America is also expected to increase due to the availability of skilled professionals in this region and the rising rate of traffic accidents.

The market in Asia-Pacific is anticipated to have the highest CAGR over the forecast period. This is because a changing lifestyle in the area is leading to an increase in the prevalence of chronic diseases. For instance, according to the Down to Earth organisation, millions of Indians between the ages of 20 and 79 are expected to have diabetes.   The number of procedures performed in this area is also rising as a result of an increase in medical tourism. Due to the aforementioned factors, Asia-Pacific is anticipated to develop at the fastest rate over the forecast period.

Competitive Landscape

The competitive landscape of the market has also been examined in this report. Some of the major players such as Smith& Nephew, 3M, Medtronic, Coloplast A/S, Conva Tech Inc., Bactiguard AB, Johnson& Johnson, and Other Key Players

Have Queries? Speak to an expert or To Download/Request a Sample, Click here. 

Wound Care Market: Scope of the Report

Report AttributeDetails
Market Value (2022)USD 18.4 Billion
Market Size (2032)USD 30.2 Billion
CAGR (from 2023 to 2032)5.2%
North America Revenue Share45%
Historic Period2016 to 2022
Base Year2022
Forecast Year2023 to 2032

Market Drivers

The demand for wound care management, particularly in developed nations, is predicted to be fuelled by increased expenditure in R&D and introduction of cutting-edge technologies by market leaders like Covnva Tech Group Plc. and Braun Melsungen AG. For instance, Conva Tech Group Plc. introduced ConvaMax to the world market in January. It was predicted that the new ConvaMax, a super absorber wound dressing, would be utilised to treat highly projecting lesions, such as pressure ulcers, leg and foot sores brought on by diabetes. The rising incidence of diabetes is one of the major reasons influencing the growth of the advanced wound care industry. The market for wound care is therefore expected to develop throughout the forecast period due to the aforementioned factors. The growing senior population fuels market expansion.

Diabetes negatively affects how quickly wounds heal. Diabetes prevalence has greatly increased over the years, as have acute and chronic wounds; the rise in the number of elderly people has also resulted in an increased surgical treatments. The complexity of wounds has improved for infections, ulcerations, and other chronic wounds as a result of rising obesity rates and other health conditions.

Market Restraints

The cost of wound care products has increased due to a greater emphasis on developing acute and chronic care products, which has negatively impacted market expansion. In general, improvements in burn injury and traumatic wound care have slowed market growth factors in recent years. The U.S. Food and Drug Administration's increased use of product recalls as a regulatory tool is the main factor projected to limit the growth of the worldwide wound care market. For instance, the U.S. Food and Drug Administration recalled the Class 2 device 3M Durapore revolutionary surgical tape in November 2019 because of the potential for tape bond breakdown after prolonged exposure to high moisture clinical applications.

Market Opportunities

Developing nations have put in a lot of effort into creating wound care solutions over the past few years to treat both acute and chronic wounds. The improvement of national healthcare systems will fuel this market expansion. Additionally, these are now also investing heavily in their healthcare infrastructure especially in the post-COVID-19 ear thereby, creating financial growth opportunities for the global wound care market.

Grow your profit margin with Market.us - Purchase This Premium Wound Care Market Report at https://market.us/purchase-report/?report_id=45728

Report Segmentation of the Wound Care Market

Type Insight

The market for wound care is divided into advanced, conventional, and surgical wound dressing based on type. The advanced wound dressing category is the most profitable of these categories and is predicted to have the highest revenue share over the forecast period. The rise in the number of burn cases is one of the key elements contributing to this domination. For instance, according to the American Burn Association, burn injuries in the United States are treated medically. Burn patients are said to experience the greatest rates of infection-related consequences. Innovative items called advanced wound care solutions have been developed for the welfare of those with wound-related conditions like diabetes and ulcers.

The growing elderly population is another major factor driving market expansion. The most common application of active wound care solutions is in advanced wound care therapy. The market could grow during the predicted period since the aged population is more prone to wounds.

The use of advanced wound care market items has significantly increased due to the surging prevalence of burn injuries and the growing several surgical procedures. Advanced wound care products are cutting-edge. Consequently, it is projected that a rising incidence rate will increase demand for conventional wound care products. Advanced wound care solutions are recommended by doctors for quick wound healing. The major purposes of advanced wound management products are the treatment of chronic and non-healing wounds.

Application Insight

The market is divided into chronic and acute wounds based on application. The market segment for chronic wounds, which presently holds the highest share, is expected to increase significantly over the forecast period. The dominance is ascribed to the rise in the number of patients with leg ulcers, vascular ulcers, pressure ulcers, and diabetic foot ulcers as well as the rising cost of treating these conditions. The elderly population is expected to expand in number, and chronic wounds such as arterial ulcers, venous pressure ulcers, diabetic ulcers, and others are also expected to become more common. A chronic wound that develops in diabetic people is called a diabetic foot ulcer.

The forecast period is expected to have the fastest revenue growth for acute wounds. The rise in traumatic wound and burn cases is a key element in the market's expansion. Surgical wound infections, better outcomes, more patient satisfaction, and shorter hospital stays are only a few of the many advantages of acute wounds. Advanced wound care therapy uses acute wound care products the most since they encourage the formation of new tissue. Patients with complicated burn wounds and diabetic wounds are treated with these acute wound care products.

End-User Insight

Hospitals, home healthcare, trauma centres, and clinics are some of the market participants based on the end user. Because to the rise in multispecialty hospitals with departments dedicated to wound management, particularly in developing nations, the hospital sector holds the largest market share. During the projected period, a higher CAGR is anticipated for the home healthcare segment. This is brought on by the rising prevalence of chronic wounds in the elderly population, the shift of more patients to at-home care, and the rise in obesity and chronic illnesses. 

For more insights on the historical and Forecast Wound Care Market data from 2016 to 2032 - download a sample report at https://market.us/report/wound-care-market/request-sample/

Market Segmentation

Based on Type

  • Advanced
  • Traditional
  • Surgical

Based on Application

  • Chronic
  • Acute

Based on End-User

  • Hospitals
  • Clinics
  • Home Healthcare
  • Trauma Centers
  • Ambulatory Surgical Centers

By Geography

  • North America
    • The US
    • Canada
    • Mexico
  • Western Europe
    • Germany
    • France
    • The UK
    • Spain
    • Italy
    • Portugal
    • Ireland
    • Austria
    • Switzerland
    • Benelux
    • Nordic
    • Rest of Western Europe
  • Eastern Europe
    • Russia
    • Poland
    • The Czech Republic
    • Greece
    • Rest of Eastern Europe
  • Asia-Pacific
    • China
    • Japan
    • South Korea
    • India
    • Australia & New Zealand
    • Indonesia
    • Malaysia
    • Philippines
    • Singapore
    • Thailand
    • Vietnam
    • Rest of APAC
  • Latin America
    • Brazil
    • Colombia
    • Chile
    • Argentina
    • Costa Rica
    • Rest of Latin America
  • Middle East & Africa
    • Algeria
    • Egypt
    • Israel
    • Kuwait
    • Nigeria
    • Saudi Arabia
    • South Africa
    • Turkey
    • United Arab Emirates
    • Rest of MEA

Market Key Players

  • Smith & Nephew Plc.
  • 3M Company
  • Medtronic Plc.
  • Coloplast A/S
  • Cardinal Health
  • PAUL HARTMAN AG
  • Molnlycke Health Care AB
  • Johnson & Johnson Services
  • Conva Tech, Inc.
  • B Braun Melsungen AG
  • Bactiguard AB
  • Paul Heartman AG
  • MiMedx Group, Inc.
  • Investor AB
  • Baxter International Inc.
  • Derma Science Inc.
  • BSN Medical GmbH
  • Other Key Players

Recent Development of the Wound Care Market

  • The 3 M Corporation introduced its 3 M Spunlace Long Wear Adhesive tapes in April 2021. Since it lasts longer, it encourages user compliance and offers health and financial advantages.
  • Smith and Nephew introduced ARIA Home PT in May 2021 as a component of their ARIA suit solutions.

Browse More Related Reports:

About Us:

Market.US (Powered by Prudour Pvt Ltd) specializes in in-depth market research and analysis and has been proving its mettle as a consulting and customized market research company, apart from being a much sought-after syndicated market research report-providing firm. Market.US provides customization to suit any specific or unique requirement and tailor-makes reports as per request. We go beyond boundaries to take analytics, analysis, study, and outlook to newer heights and broader horizons.

Our Blog: 

 

Coordonnées