Global Wound Care Market – Analysis and Forecast (2022-2030)

Industry Insights by Wound Type (Chronic, Acute), by Product (Advanced, Surgical, Traditional), by Application (Burns, Ulcers, Surgical Wound), by End-User (Hospital and Specialty Wound Care Clinic, Home Healthcare, and Others)

Industry Overview

The global wound care market size is expected to reach USD 26.8 billion by 2030, growing at a CAGR of 4.2% during the forecast period 2021-2030.

The wound care market refers to the industry focused on developing and selling products and services designed to prevent, treat, and manage various types of wounds. This market includes acute wounds, such as surgical incisions and traumatic injuries, as well as chronic wounds, such as diabetic ulcers and pressure sores. The market is comprised of a wide range of products, including wound dressings, bandages, adhesives, and topical creams, as well as advanced therapies such as growth factors, stem cell therapies, and skin substitutes. 

During the projected period, the global wound care market growth is expected to be significantly driven by factors such as an increasing prevalence of chronic diseases, rising geriatric population, and growing demand for advanced wound care products.

Impact of Covid-19

The Covid-19 pandemic has had a significant impact on the wound care market. With the focus on managing the spread of the virus, many hospitals and healthcare facilities have had to postpone elective surgeries and limit access to non-urgent care, leading to a decline in the number of patients receiving wound care treatments. Additionally, supply chain disruptions and manufacturing delays have caused shortages of wound care products, such as dressings and gauzes.

However, the pandemic has also led to an increase in the use of telemedicine and remote wound care management, as patients and healthcare providers seek to minimize in-person interactions. This has created opportunities for companies offering digital wound care solutions and remote monitoring tools.

Moreover, Covid-19 has led to a renewed focus on infection prevention and control, leading to greater adoption of advanced wound care products that can help prevent infections and promote faster healing. This has driven demand for products such as antimicrobial dressings, growth factors, and negative pressure wound therapy.

Market Segmentation

Wound Care Market is categorized into product type, wound type, application and end-user.

By Product Type

On the basis of product type, wound care market is segmented in to dressings, bandages, and topicals, advanced wound care products, and active wound care products. Dressings and bandages are the most commonly used products, while advanced wound care products such as bioengineered skin substitutes, growth factors, and negative pressure wound therapy are experiencing strong growth.

By Wound Type

Based on the wound, the global market wound care is sub-categorised into acute and chronic wounds. Chronic wounds, such as diabetic foot ulcers and venous leg ulcers, are the largest and fastest-growing segment due to the increasing prevalence of chronic diseases and an aging population.

By Application

The global wound care market has also been segmented by application into ulcers, surgical wounds and burns. The surgical wound segment is estimated to account largest share in the market due to increasing number of surgeries and growing incidence of diabetes.

By End-User

On the basis of end-user, wound care market is segmented into hospitals, clinics, home care settings, and long-term care facilities. Hospitals and clinics are the largest end-users of wound care products due to the high volume of patients they treat, but home care settings and long-term care facilities are growing rapidly due to the increasing demand for at-home and outpatient care.

Wound Care Market Report Coverage

Industry Dynamics

Growth Drivers

The wound care market is primarily driven by the increasing prevalence of chronic diseases such as diabetes, cancer, and cardiovascular diseases. These conditions often lead to chronic wounds that require long-term care and management. Additionally, the growing geriatric population across the world is another significant driver of the wound care market. As people age, their skin becomes thinner and more fragile, making them more susceptible to skin injuries and chronic wounds.

Moreover, the demand for advanced wound care products is also expected to drive the market growth. The availability of technologically advanced wound care products, such as dressings, biologics, and negative pressure wound therapy devices, is driving demand for these products. These products offer several benefits over traditional wound care products, such as faster healing and reduced risk of infection.

Challenges

The high cost of advanced wound care products is one of the significant restraints for the market. These products are generally more expensive than traditional wound care products, making them less accessible to patients with lower incomes. Additionally, the lack of awareness and education about advanced wound care products is also a significant challenge for the market. Many patients and healthcare providers are still not aware of the benefits of these products, leading to lower adoption rates.

Industry Ecosystem

The wide range of wound management products are supplied with, at varying prices. The key challenge for the new entrants is survival in capital intensive and highly regulated wound care market.

Geographic Overview

The wound care market is widespread in North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America and Europe are the largest markets, while the Asia Pacific region is experiencing strong growth due to the increasing prevalence of chronic diseases and a growing elderly population.

Each of these segments plays a vital role in driving market growth. Advanced wound care products, chronic wound care, and home care settings are expected to drive market growth in the coming years. Additionally, companies are focusing on developing innovative wound care products to meet the evolving needs of patients and healthcare providers.

Latest updates in Global Wound Care Market

• Advanced wound care products: Advanced wound care products, such as hydrogels, foam dressings, and collagen dressings, were in high demand due to their effectiveness in promoting healing and reducing the risk of infections.
• Acquisitions and collaborations: Several major players in the wound care market, including 3M, Smith & Nephew, and Mölnlycke Health Care, made strategic acquisitions and collaborations to expand their product portfolio and global reach.
• Emerging markets: The wound care market in emerging markets, such as China, India, and Brazil, was expected to experience significant growth due to the increasing prevalence of chronic diseases, rising healthcare expenditure, and improving healthcare infrastructure.

Competitive Insight

The global wound care market is highly competitive and fragmented. Key players operating in the market include 3M Company, Acelity L.P. Inc., B. Braun Melsungen AG, Coloplast A/S, ConvaTec Group plc, Medline Industries, Inc., Mölnlycke Health Care AB, Smith & Nephew plc, and others. These players are focusing on strategic partnerships, collaborations, and mergers and acquisitions to strengthen their market position and expand their product portfolio.

The Wound Care Market report offers a comprehensive market segmentation analysis along with an estimation for the forecast period 2022–2030.

• By Product Type
  • Dressings
  • Surgical wound care products
  • Advance wound management product
  • Active wound care products
• By Wound Type
  • Acute wounds
  • Chronic wounds
    • Diabetic foot ulcers
    • Venous leg ulcers
• By Application
  • Ulcers
  • Surgical wounds
  • Burns
• By End-User
  • Hospitals
  • Clinics
  • Home care settings
  • Long-term care facilities

Region Covered in the Report

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia-Pacific (APAC)
  • China
  • Japan
  • India
  • South Korea
  • Rest of Asia-Pacific
• Rest of the World (RoW)
  • Brazil
  • Saudi Arabia
  • South Africa
  • U.A.E.
  • Other Countries

Source: VynZ Research

Source: VynZ Research