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Wound Care Market Assessment, By Product [Advanced Wound Dressings, Surgical Wound Care, Traditional Wound Care, Wound Therapy Devices] By Applications [Chronic Wounds, Acute Wounds], Mode of Purchase [Prescribed, Non-prescribed], Distribution Channel [Institutional Sales, Retail Sales], By End-user [Hospitals, Outpatient Facilities, Home care, Research and Manufacturing], By Region, Opportunities and Forecast, 2017-2031F
Market Report I 2024-04-19 I 223 Pages I Market Xcel - Markets and Data
Global Wound Care Market size was valued at USD 25.67 billion in 2023, expected to reach USD 36.28 billion in 2031, with a CAGR of 4.42% for the forecast period between 2024 and 2031F. Numerous elements propel the expansion of global wound care market, encompassing an aging demographic, escalating instances of chronic wounds like diabetic ulcers, advancements in wound care technology, heightened recognition of progressive wound therapies, and an increasing focus on expediting recovery and minimizing hospital durations. Moreover, shifts in lifestyle, the prevalence of surgical interventions, and the rising need for advanced wound care solutions in developing nations exert substantial influence on the growth trajectory of the global wound care market.
The global wound care market undergoes robust growth due to diverse factors. Initially, the aging population globally plays a significant role in this expansion. As people age, their susceptibility to chronic conditions rises, leading to an upsurge in chronic wounds like diabetic ulcers. The growing prevalence drives the need for innovative wound care solutions in the global wound care market. Concurrently, continuous progress in wound care technology holds immense importance. Innovations in materials, treatments, and approaches elevate the effectiveness and efficiency of wound care products. Furthermore, increased awareness and recognition of advanced wound therapies steer patient and healthcare provider preferences toward these modern solutions.
Strategies aimed at hastening recovery and reducing hospital stays drive the growth in global wound care market. Healthcare approaches increasingly focus on expediting healing processes, lessening the strain on healthcare facilities and cutting costs for patients and providers alike. Lifestyle changes significantly impact the market, often contributing to a rise in wounds that necessitate advanced wound care solutions. Moreover, the global increase in surgical procedures further escalates the demand for these products. Lastly, emerging economies experiencing heightened requirements for advanced wound care solutions due to evolving healthcare structures and augmented healthcare expenditures substantially contribute to expanding the global wound care market. This amalgamation of factors outlines a sturdy growth path for the global wound care market.
Escalating Instances of Diabetic Ulcers
The increase in diabetic ulcer cases acts as a crucial catalyst driving the expansion of the global wound care market. Diabetic ulcers, frequently arising as a complication of diabetes due to diminished blood flow and nerve damage, result in slow-healing wounds. With diabetes becoming more prevalent worldwide, the occurrence of diabetic ulcers has risen substantially, necessitating advanced wound care solutions for effective management. The surge in diabetic ulcer prevalence fuels the demand for innovative wound care products and therapies tailored to address these complex wounds. Consequently, there is a heightened emphasis on creating and implementing specialized treatments, including advanced dressings, healing-accelerating therapies, and novel technologies crafted specifically to enhance the management of diabetic ulcers. Increased requirement for customized wound care solutions significantly contribute to both the expansion and diversification of the global wound care market.
Technological Advancements
Global wound care market has witnessed significant technological advancements in recent years. These innovations have revolutionized wound management, improving patient outcomes and healthcare efficiency. Advanced wound dressings, such as hydrogels, foams, and films, offer better moisture management, infection control, and faster healing. The integration of smart materials and sensors into wound care products allows for real-time monitoring of wound status, facilitating timely interventions.
For instance, in January 2023, Convatec Group PLC introduced ConvaFoam, an innovative foam dressing designed to cater to the needs of patients and healthcare providers in the realms of skin protection and wound management. Improved silicone technology for better adhesion2, better absorbency fluid handling, a 7-day wear period, a patterned film design that can facilitate exudate monitoring, and a superabsorbent layer are all features of the ConvaFoam family of dressings. Additionally, ConvaFoam is scalable, making it easier to apply to hard-to-dress regions.
Increasing Demand for Surgical Wound Care
The increased requirement for surgical wound care significantly drives the expansion of the global wound care market. The heightened need primarily arises from the growing frequency of worldwide surgical procedures. As surgeries become more prevalent across diverse medical fields, there arises an inherent necessity for efficient post-surgical wound care solutions. Consequently, the market witnesses a heightened demand for advanced wound care products and tailored therapies to address the varied demands of managing surgical wounds. The increased need stimulates innovation within the wound care sector, leading to the creation of specialized dressings, healing methodologies, and technologies are specifically designed to enhance the recovery and healing processes for surgical wounds, ultimately, driving substantial growth in the global wound care market.
For instance, Sylke Inc. introduced SYLKE, the first dressing composed entirely of hypoallergenic silk fibroin, in October 2023. SYLKE is intended to improve wound healing following surgery and to lower the risk of complications and infections that could result in unfavorable scarring. By eradicating skin damage caused by medical adhesives that result in consequences like infections and unfavorable scarring, SYLKE hopes to transform surgical wound care.
Increasing use of Negative Pressure Wound Therapy
The increasing uptake of negative pressure wound therapy (NPWT) significantly propels the global wound care market's expansion. NPWT, entailing the application of controlled negative pressure to wounds, accelerates healing by eliminating excess fluids and promoting tissue growth. Its established effectiveness in managing intricate wounds such as diabetic ulcers and chronic injuries prompts healthcare providers to adopt NPWT more frequently. The escalating usage fosters market expansion, spurring heightened demand for NPWT devices, accessories, and related consumables. Consequently, the surge fuel advancements and research in this specialized field of wound care, ultimately steering the overall growth of the global wound care market. For example, Medela announced in August 2023 that it would be adding the new Invia integrated dressing, which is recommended for all types of wounds, to its range of negative pressure wound therapy (NPWT) products. All wound types, including closed surgical incisions, are designed to be treated with the new sterile dressing. It can be used at home or in a hospital setting for up to seven days.
Impact of COVID-19
The wound care management market was significantly affected by the COVID-19 outbreak, leading to widespread repercussions in the global economy and the provision of general hospital care to uninfected patients. For instance, a study published in September 2021 by the National Center for Biotechnology Information (NCBI) revealed that a notable portion of patients with chronic wounds postponed both preventive and urgent wound care during the pandemic. Moreover, there was a heightened emphasis on wound care during the pandemic to reduce hospitalizations and surgeries and prevent severe wound complications. An article by UpToDate Inc. in June 2022 pointed out that the COVID-19 pandemic, prompting a shift in the delivery of wound care, an essential medical service. Consequently, reduced availability of wound care management services during the pandemic had an adverse impact on the market.
Key Players Landscape and Outlook
Prominent firms in the wound care industry have been strategically acquiring businesses to broaden their range of products and strengthen their position in the global wound care market. For instance, a leading supplier of advanced wound care products, Systagenix Wound Management Ltd. was acquired by Acelity L.P. Inc. in April 2023. The USD 485 million transaction is anticipated to broaden Acelity's product line for wound treatment. B. Braun Medical Inc. announced the acquisition of the Epitech Group, a major manufacturer of wound care products, in March 2023. The acquisition is expected to increase B. Braun's footprint in the wound care sector and broaden its product line. Smith & Nephew acquired Osiris Therapeutics, Inc. in December 2022, a premier biotechnology business focusing on regenerative medicine products for wound treatment. The acquisition of USD 660 million will strengthen the footprints of Smith & Nephew in the global wound care market.
1. Research Methodology
2. Project Scope & Definitions
3. Impact of COVID-19 on the Global Wound Care Market
4. Executive Summary
5. Global Wound Care Market Outlook, 2017-2031F
5.1. Market Size & Forecast
5.1.1. By Value
5.1.2. By Volume
5.2. By Product
5.2.1. Advanced Wound Dressings
5.2.1.1. Foam Dressings
5.2.1.2. Hydrocolloid Dressings
5.2.1.3. Film Dressings
5.2.1.4. Alginate Dressings
5.2.1.5. Hydrogel Dressings
5.2.1.6. Collagen Dressings
5.2.1.7. Others
5.2.2. Surgical Wound Care
5.2.2.1. Sutures & Staples
5.2.2.2. Tissue Adhesive and Sealants
5.2.2.3. Anti-Infective Dressing
5.2.3. Traditional Wound Care
5.2.3.1. Medical Tapes
5.2.3.2. Cotton
5.2.3.3. Bandages
5.2.3.4. Gauzes
5.2.3.5. Sponges
5.2.3.6. Cleansing Agents
5.2.4. Wound Therapy Devices
5.2.4.1. Negative Pressure Wound Therapy
5.2.4.2. Oxygen And Hyperbaric Oxygen Equipment
5.2.4.3. Electric Stimulation Devices
5.2.4.4. Pressure Relief Devices
5.2.4.5. Others
5.3. By Applications
5.3.1. Chronic Wounds
5.3.1.1. Diabetic Foot Ulcers
5.3.1.2. Pressure Ulcers
5.3.1.3. Venous Leg Ulcers
5.3.1.4. Other
5.3.2. Acute Wounds
5.3.2.1. Surgical & Traumatic Wounds
5.3.2.2. Burns
5.4. By End-user
5.4.1. Hospitals
5.4.2. Outpatient Facilities
5.4.3. Home Care
5.4.4. Research and Manufacturing
5.5. By Region
5.5.1. North America
5.5.2. Europe
5.5.3. Asia Pacific
5.5.4. South America
5.5.5. Middle East & Africa
5.6. By Company Market Share (%), 2023
6. Global Wound Care Market Outlook, By Region, 2017-2031F
6.1. North America*
6.1.1. Market Size & Forecast
6.1.1.1. By Value
6.1.1.2. By Volume
6.1.2. By Product
6.1.2.1. Advanced Wound Dressings
6.1.2.1.1. Foam Dressings
6.1.2.1.2. Hydrocolloid Dressings
6.1.2.1.3. Film Dressings
6.1.2.1.4. Alginate Dressings
6.1.2.1.5. Hydrogel Dressings
6.1.2.1.6. Collagen Dressings
6.1.2.1.7. Others
6.1.2.2. Surgical Wound Care
6.1.2.2.1. Sutures & Staples
6.1.2.2.2. Tissue Adhesive and Sealants
6.1.2.2.3. Anti-Infective Dressing
6.1.2.3. Traditional Wound Care
6.1.2.3.1. Medical Tapes
6.1.2.3.2. Cotton
6.1.2.3.3. Bandages
6.1.2.3.4. Gauzes
6.1.2.3.5. Sponges
6.1.2.3.6. Cleansing Agents
6.1.2.4. Wound Therapy Devices
6.1.2.4.1. Negative Pressure Wound Therapy
6.1.2.4.2. Oxygen And Hyperbaric Oxygen Equipment
6.1.2.4.3. Electric Stimulation Devices
6.1.2.4.4. Pressure Relief Devices
6.1.2.4.5. Others
6.1.3. By Applications
6.1.3.1. Chronic Wounds
6.1.3.1.1. Diabetic Foot Ulcers
6.1.3.1.2. Pressure Ulcers
6.1.3.1.3. Venous Leg Ulcers
6.1.3.1.4. Other
6.1.3.2. Acute Wounds
6.1.3.2.1. Surgical & Traumatic Wounds
6.1.3.2.2. Burns
6.1.4. By End-user
6.1.4.1. Hospitals
6.1.4.2. Outpatient Facilities
6.1.4.3. Home Care
6.1.4.4. Research and Manufacturing
6.1.5. United States*
6.1.5.1. Market Size & Forecast
6.1.5.1.1. By Value
6.1.5.1.2. By Volume
6.1.5.2. By Product
6.1.5.2.1. Advanced Wound Dressings
6.1.5.2.1.1. Foam Dressings
6.1.5.2.1.2. Hydrocolloid Dressings
6.1.5.2.1.3. Film Dressings
6.1.5.2.1.4. Alginate Dressings
6.1.5.2.1.5. Hydrogel Dressings
6.1.5.2.1.6. Collagen Dressings
6.1.5.2.1.7. Others
6.1.5.2.2. Surgical Wound Care
6.1.5.2.2.1. Sutures & Staples
6.1.5.2.2.2. Tissue Adhesive and Sealants
6.1.5.2.2.3. Anti-Infective Dressing
6.1.5.2.3. Traditional Wound Care
6.1.5.2.3.1. Medical Tapes
6.1.5.2.3.2. Cotton
6.1.5.2.3.3. Bandages
6.1.5.2.3.4. Gauzes
6.1.5.2.3.5. Sponges
6.1.5.2.3.6. Cleansing Agents
6.1.5.2.4. Wound Therapy Devices
6.1.5.2.4.1. Negative Pressure Wound Therapy
6.1.5.2.4.2. Oxygen And Hyperbaric Oxygen Equipment
6.1.5.2.4.3. Electric Stimulation Devices
6.1.5.2.4.4. Pressure Relief Devices
6.1.5.2.4.5. Others
6.1.5.3. By Applications
6.1.5.3.1. Chronic Wounds
6.1.5.3.1.1. Diabetic Foot Ulcers
6.1.5.3.1.2. Pressure Ulcers
6.1.5.3.1.3. Venous Leg Ulcers
6.1.5.3.1.4. Other
6.1.5.3.2. Acute Wounds
6.1.5.3.2.1. Surgical & Traumatic Wounds
6.1.5.3.2.2. Burns
6.1.5.4. By End-user
6.1.5.4.1. Hospitals
6.1.5.4.2. Outpatient Facilities
6.1.5.4.3. Home Care
6.1.5.4.4. Research and Manufacturing
6.1.6. Canada
6.1.7. Mexico
*All segments will be provided for all regions and countries covered
6.2. Europe
6.2.1. Germany
6.2.2. France
6.2.3. Italy
6.2.4. United Kingdom
6.2.5. Russia
6.2.6. Netherlands
6.2.7. Spain
6.2.8. Turkey
6.2.9. Poland
6.3. South America
6.3.1. Brazil
6.3.2. Argentina
6.4. Asia-Pacific
6.4.1. India
6.4.2. China
6.4.3. Japan
6.4.4. Australia
6.4.5. Vietnam
6.4.6. South Korea
6.4.7. Indonesia
6.4.8. Philippines
6.5. Middle East & Africa
6.5.1. Saudi Arabia
6.5.2. UAE
6.5.3. South Africa
7. Market Mapping, 2023
7.1. By Product
7.2. By Application
7.3. By End-User
7.4. By Mode of Purchase
7.5. By Distribution Channel
7.6. By Region
8. Macro Environment and Industry Structure
8.1. Supply Demand Analysis
8.2. Import Export Analysis - Volume and Value
8.3. Supply/Value Chain Analysis
8.4. PESTEL Analysis
8.4.1. Political Factors
8.4.2. Economic System
8.4.3. Social Implications
8.4.4. Technological Advancements
8.4.5. Environmental Impacts
8.4.6. Legal Compliances and Regulatory Policies (Statutory Bodies Included)
8.5. Porter's Five Forces Analysis
8.5.1. Supplier Power
8.5.2. Buyer Power
8.5.3. Substitution Threat
8.5.4. Threat from New Entrant
8.5.5. Competitive Rivalry
9. Market Dynamics
9.1. Growth Drivers
9.2. Growth Inhibitors (Challenges, Restraints)
10. Regulatory Framework and Innovation
10.1. Patent Landscape
10.2. Regulatory Approvals
10.3. Innovations/Emerging Technologies
11. Key Players Landscape
11.1. Competition Matrix of Top Five Market Leaders
11.2. Market Revenue Analysis of Top Five Market Leaders (in %, 2023)
11.3. Mergers and Acquisitions/Joint Ventures (If Applicable)
11.4. SWOT Analysis (For Five Market Players)
11.5. Patent Analysis (If Applicable)
12. Pricing Analysis
13. Case Studies
14. Key Players Outlook
14.1. Smith & Nephew
14.1.1. Company Details
14.1.2. Key Management Personnel
14.1.3. Products & Services
14.1.4. Financials (As reported)
14.1.5. Key Market Focus & Geographical Presence
14.1.6. Recent Developments
14.2. Molnlycke Health Care AB
14.3. ConvaTec Group PLC
14.4. Ethicon (Johnson & Johnson)
14.5. Baxter International
14.6. URGO Medical
14.7. Coloplast Corp.
14.8. Medtronic
14.9. 3M Co
14.10. Derma Sciences Inc. (Integra LifeSciences)
14.11. Medline Industries
14.12. Advancis Medical
14.13. B. Braun Melsungen AG
*Companies mentioned above DO NOT hold any order as per market share and can be changed as per information available during research work
15. Strategic Recommendations
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