The global wound care market size was valued at USD 19.59 billion in 2021, and is predicted to be worth around USD 28.57 billion by 2030, registering a CAGR of 3.11% during the forecast period 2022 to 2030.
Increasing number of surgical cases, rapidly aging population, as well as rising number of diabetic patients, are among the major factors driving the market growth. For instance, according to Ageing Asia, in 2019, more than 139 million people i.e., about 10% of the total population, in India were over the age of 60 years. The number is expected to increase to 19.5% by 2050. Elder people are more susceptible to wounds, and thus, an increasing number of geriatric population is anticipated to propel the market growth. Obesity is a major health concern that leads to several other diseases or complications, such as diabetes and Cardiovascular Diseases (CVDs).
The demand for wound care products is increasing owing to the rising number of surgical cases and the growing prevalence of chronic diseases across the globe. Furthermore, increasing the incidence of diabetes due to a sedentary lifestyle is another leading factor contributing to market growth. For instance, according to the American Diabetes Association, in 2018, an estimated 34.2 million people, i.e., 10.5% of the total U.S. population, had diabetes. Moreover, nearly 1.6 million U.S. residents had type 1 diabetes, which includes about 187,000 adolescents and children.
|Market Size||US$ 28.57 billion by 2030|
|Growth Rate||CAGR of 3.11% From 2022 to 2030
|Largest Market||North America|
|Forecast Period||2022 to 2030|
|Segments Covered||Product, Active Wound Care, Application, End-use|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa|
|Companies Mentioned||Smith & Nephew; Mölnlycke Health Care AB; ConvaTec Group PLC; Ethicon (Johnson & Johnson); Baxter International; URGO Medical; Coloplast Corp.; Medtronic; 3M; Derma Sciences Inc. (Integra LifeSciences).|
By Product Analysis
On the basis of products, the global market has been further segmented into advanced wound dressings, surgical wound dressings, traditional wound dressings, and wound therapy devices. The advanced wound dressing product segment accounted for the maximum share of 34.65% of the global revenue in 2021.
The segment is estimated to expand further at the fastest growth rate retaining its leading position in the market throughout the forecast period. Advanced wound dressing is majorly used for the treatment of chronic and non-healing wounds.
An increase in cases of chronic wounds, such as diabetic foot ulcers, is expected to boost the segment growth. For instance, as per the Centers for Disease Control and Prevention (CDC), in 2016, around 5.0% of the people in the U.S. were diagnosed with Type 1 diabetes and approximately 15.0% of this diabetic population suffers from diabetic wounds or diabetic ulcers.
By Active Wound Care Analysis
On the basis of active wound care, the market has been further categorized into biomaterials and skin substitutes. The skin-substitute segment is expected to witness the fastest growth rate of 4.91% during the forecast period. Skin substitutes replace the function and form of skin, either temporarily or permanently.
Advancements in technology for the development of skin substitutes, such as collagen-synthetic bilaminates and tissue culture-derived, are also among the key factors expected to contribute to the segment growth over the forecast period.
The segment growth can be attributed to the rapid technological advancements involving the usage of biomaterials for wound healing therapies. These wound care products comprise both synthetic and natural substances that help in both wound healing and tissue regeneration.
By Application Analysis
On the basis of application, the wound care market has been segmented into chronic and acute wounds. The acute wounds segment held the largest revenue share of more than 59.00% in 2021 and is anticipated to witness a considerable growth rate over the forecast period.
Acute wound products are majorly used for treating acute wounds, such as traumatic wounds. The chronic wounds segment is expected to grow at the fastest CAGR during the forecast period.The increasing geriatric population, along with the rising prevalence of diabetic foot ulcers, venous pressure ulcers, and other chronic wounds is expected to drive the segment growth.
This population increased about 36% from 2009 to 2019 and is projected to reach 80.8 million by 2040, and 94.7 million by 2060. Furthermore, the number of people suffering from varicose veins in the U.S. is increasing year on year.
By End-use Analysis
On the basis of end-use, the market is segmented into hospitals, specialty clinics, home healthcare, and others. The hospitals segment held the largest revenue share of more than 45.00% in 2021.
The growth of this segment can be attributed to the upsurge in surgical procedures globally because of a sedentary lifestyle, and the rising volume of bariatric surgeries, which require the use of wound care products to contain surgical site infections.
All these factors are expected to drive the segment during the forecast period. Moreover, a rise in hospital admissions due to surgeries is also anticipated to propel the segment's growth. After surgery, patients generally require wound care products to heal from surgical site wounds.
These devices are lightweight, portable, canister-free, and are easy to use. In addition, the cost-effectiveness of such therapy of treating wounds also encourages patients to adopt homecare settings over hospital stays.
The presence of several organizations offering home care services in North America and Europe is promoting the home care services market. Thus, with the rising geriatric population and number of nursing home care, the segment is anticipated to witness significant growth during the forecast period.
By Regional Analysis
North America dominated with a revenue share of more than 45% in 2021 and is expected to witness considerable growth over the forecast period. The presence of a large population base and rising patient pool in countries, such as the U.S., are the major factors driving the regional market.
Asia Pacific is estimated to be the fastest-growing regional market over the forecast period. This can be attributed to the changing lifestyles leading to a rise in the incidence of chronic diseases.
Smith & Nephew
Mölnlycke Health Care AB
ConvaTec Group PLC
Ethicon (Johnson & Johnson)
Derma Sciences Inc. (Integra LifeSciences)
Advanced Wound Dressing
Surgical Wound Care
Traditional Wound Care
Wound Therapy Device
By Active Wound Care
Middle East & Africa
The wound care market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of wound care market for the base year 2022 and the forecast between 2022 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global wound care market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the wound care market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted wound care market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the wound care capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of wound care by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global wound care market. These figures have been provided in terms of both revenue and volume for the period 2019 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major wound care market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of wound care market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the wound care industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
wound care market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to wound care market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of wound care market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new wound care market. These factors have benefited the growth of the global market for wound care. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for wound care. The global market is segmented on the basis of region, application, end-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of wound care are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
The study objectives of this report are:
To strategically profile the key players and comprehensively analyze their growth strategies.
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