Market Overview
The
Global Wound Care Market is expected to reach a value of
USD 23.5 billion in 2023, and it is further anticipated to reach a market value of
USD 34.5 billion by 2032 at a
CAGR of 4.4%.
Wound care includes products designed for the management of both acute & chronic wounds, like burns, ulcers, and post-operative wounds. Advanced wound care solutions, including dressings like films, foams, hydrogels, alginates, & hydrocolloids, maintain a moist environment that fosters wound healing without hindering the process, which caters to patients with chronic wounds, offering convenient & cost-effective options that can be used at their convenience to support their healing journey.
Market Dynamic
Over the past decade, factors like a growing global aging population, a rise in surgical procedures, increased incidents of traumatic injuries, & the growth in the number of conditions like diabetes & obesity have led to a notable growth in acute, chronic, & surgical wounds. These conditions often result in infections, ulcers, & chronic wounds that require advanced wound management, contributing to higher healthcare costs. The growing number of hospital visits for wound treatment is anticipated to further boost the demand for advanced wound care products, mainly in hospital settings, driven by a rise in healthcare spending, a multitude of therapeutic surgeries, & the number of hospital-acquired pressure ulcers.
In addition, government initiatives focused on raising awareness among the public & technological advancements are major growth catalysts for the advanced wound care market, alongside enhanced
healthcare infrastructure & rising healthcare budgets. Further, the high costs associated with advanced wound care products pose a challenge to market expansion. Furthermore, the valued risks & a lack of awareness regarding the use of these products present significant challenges impeding the market's growth during the forecast period.
Research Scope and Analysis
By Product
The wound care market is categorized by product into surgical wound care, advanced wound dressings, traditional wound care, & wound therapy devices. Among these, the advanced wound dressing segment claims the largest market share in 2023 & is expected to exhibit the highest growth throughout the forecast period. Advanced wound dressings are mainly used in the treatment of chronic & non-healing wounds. With the rise in the number of chronic wounds like diabetic foot ulcers, the need for advanced wound dressings is set to grow, driving significant growth in the wound care industry.
Further, the surgical wound care segment is projected to experience significant growth during the forecast period, which can be attributed to the global rise in surgical procedures & subsequent surgical site infections. As surgical cases continue to grow globally, the need for products in the surgical wound care category is expected to grow, contributing to the segment's considerable expansion.
By Application
In 2023, the chronic wounds segment takes the lead in the wound care market, holding the largest share, and it's anticipated significant growth throughout the forecast period, which is primarily attributed to the growth in the elderly population & the rising number of chronic wounds like diabetic foot ulcers & venous pressure ulcers. Further, according to the Journal of the American Heart Association, the United States is experiencing a steady rise in cases of varicose vein ailments, with about 23% of the population getting affected. This growth in varicose vein patients can potentially lead to the development of venous leg ulcers, further driving the market's expansion.
Further, the acute wound segment is anticipated to experience the fastest growth during the forecast period, with the increasing incidence of traumatic wounds & burns serving as a major driver for this segment.
Acute wound care products provide several advantages, including minimal surgical site infections, enhanced patient outcomes, & shorter hospital stays. In addition, the global prevalence of burn wounds is on the rise. As acute wound products are mainly used to treat traumatic wounds, the use of wound care products is anticipated to fuel the growth of this segment.
By End User
The hospital segment commands the largest share in the wound care market in 2023, which is primarily driven by a global increase in surgical procedures, a consequence of sedentary lifestyles, & a rise in number of bariatric surgeries, which necessitate the use of wound care products to prevent surgical site infections.
Surgical wound care dressings and Negative Pressure Wound Therapy (NPWT) are mainly suitable for hospital settings & are not typically used in home care. Hospitals, as major buyers of wound care products, often have long-term contracts with suppliers, further contributing to the segment's growth. In addition, the growth in hospital admissions post-surgery, where patients require wound care products for postoperative wound healing, fuels the segment's significant growth.
Also, the home care segment is anticipated to experience fast growth during the forecast period, as the demand for home healthcare wound care products increased during the pandemic, with single-use NPWT systems playing an important role. These devices are lightweight, portable, and affordable, making them a preferred choice for treating wounds at home. The higher elderly population, which often prefers home care or nursing home facilities, further drives this segment's growth. In regions like North America & Europe, the presence of many organizations offering home care services promotes the adoption of home care settings. With these combined factors, the home care segment is anticipated to see significant growth in the coming future.
The Wound Care Market Report is segmented on the basis of the following:
By Product
- Advanced Wound Dressing
- Surgical Wound Care
- Traditional Wound Care
- Wound Therapy Devices
By Application
- Chronic Wounds
- Acute Wounds
By End User
- Hospitals
- Home Care
- Outpatient Facilities
- Research & Manufacturing
Regional Analysis
North America maintains its dominance in the wound care industry, holding a significant market share of 46.8% in 2023, which is expected to continue experiencing notable growth during the forecast period. Factors contributing to this growth include an increase in the population base & a growth in the number of patients, particularly in the United States. In addition, the aging population in North America is at a higher risk of developing wounds, further increasing the demand for wound care products.
Also, the Asia Pacific region is expected to show a high growth in the wound care market over the forecasted period, which can be attributed to changes in lifestyle habits, resulting in a growth in the number of chronic diseases in the region. For instance, India has seen a huge growth in diabetic patients, with numbers predicted to grow more in the coming future. Moreover, the rise in medical tourism has led to a growth in the number of surgeries, contributing to the region's quick expansion in the wound care market, as all these key factors are anticipated to experience the fastest growth in this market.
By Region
North America
Europe
- Germany
- The U.K.
- France
- Italy
- Russia
- Spain
- Benelux
- Nordic
- Rest of Europe
Asia-Pacific
- China
- Japan
- South Korea
- India
- ANZ
- ASEAN
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Rest of Latin America
Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Israel
- Egypt
- Rest of MEA
Competitive Landscape
The wound care industry is characterized by many small & large manufacturers, leading to intense competition, which is expected to grow even stronger in the coming years due to the many players of market players. In addition, prominent companies are highly engaging in partnerships, building new products, & pursuing mergers & acquisitions to enhance their range of wound care solutions, as such strategic moves focus on solidifying their positions in the market, resulting in a growing competitive landscape within the industry.
In August 2023, Medela unveiled its expansion plans for the negative pressure wound therapy (NPWT) category by introducing the Invia Integrated Dressing, ideal for all types of wounds, including post-surgical incisions, as this sterile dressing is versatile, designed for both home & hospital use, with an application duration of up to 7 days. It contains a three-layer fluid-handling pad with a skin-friendly silicone adhesive border & incorporates a Quick-connector, a standard feature in Medela's NPWT products for seamless pump-to-dressing connections. The dressing is compatible with Medela's Liberty & Motion NPWT pumps, improving its usability and compatibility.
Some of the prominent players in the global Wound Care Market are:
- 3M
- Coloplast
- Smith & Nephew
- Medtronic
- Advancis Medical
- Medline Industries
- URGO Medical
- Baxter International
- Cardinal Health Inc
- Centaur Pharma
- Other Key Players
COVID-19 Pandemic & Recession: Impact on the Global Wound Care Market:
The COVID-19 pandemic had a significant impact on the global wound care market, as the growing focus on infection prevention & the strain on healthcare systems led to an increase in demand for wound care products, like dressings & antimicrobial agents. However, the economic recession resulting from the pandemic affected healthcare budgets & delayed market growth.
Many non-urgent wound care treatments were halted, leading to reduced sales & revenue for some companies. Telemedicine & home-based wound care solutions gained importance as patients looked for alternatives to in-person healthcare visits. Further, the pandemic grew innovation in wound care technology, but economic challenges presented hurdles for market expansion during this challenging period.
| Report Characteristics |
| Market Size (2023) |
USD 23.5 Bn |
| Forecast Value (2032) |
USD 34.5 Bn |
| CAGR (2023-2032) |
4.4% |
| Historical Data |
2017 - 2022 |
| Forecast Data |
2023 - 2032 |
| Base Year |
2022 |
| Estimate Year |
2023 |
| Report Coverage |
Market Revenue Estimation, Market Dynamics, Competitive Landscape, Growth Factors and etc. |
| Segments Covered |
By Product (Advanced Wound Dressing, Surgical
Wound Care, Traditional Wound Care, and Wound
Therapy Devices), By Application (Chronic Wounds,
and Acute Wounds), By End User (Hospitals, Home
Care, Outpatient Facilities, and Research &
Manufacturing) |
| Regional Coverage |
North America – The US and Canada; Europe – Germany, The UK, France, Russia, Spain, Italy, Benelux, Nordic, & Rest of Europe; Asia- Pacific– China, Japan, South Korea, India, ANZ, ASEAN, Rest of APAC; Latin America – Brazil, Mexico, Argentina, Colombia, Rest of Latin America; Middle East & Africa – Saudi Arabia, UAE, South Africa, Turkey, Egypt, Israel, & Rest of MEA
|
| Prominent Players |
3M, Coloplast, Smith & Nephew, Medtronic, Advancis
Medical, Medline Industries, URGO Medical, Baxter
International, Cardinal Health Inc, Centaur Pharma,
and Other Key Players |
| Purchase Options |
We have three licenses to opt for: Single User License (Limited to 1 user), Multi-User License (Up to 5 Users), and Corporate Use License (Unlimited User) along with free report customization equivalent to 0 analyst working days, 3 analysts working days and 5 analysts working days respectively. |
Frequently Asked Questions
The Global Wound Care Market size is estimated to have a value of USD 23.5 billion in 2023 and is
expected to reach USD 34.5 billion by the end of 2032.
North America has the largest market share for the Global Wound Care Market with a share of about 46.8% in 2023.
Some of the major key players in the Global Wound Care Market are 3M, Coloplast, Medtronic, and many others.
The market is growing at a CAGR of 4.4 % over the forecasted period.