The global wound care market has been valued at US$ 20. 36 billion in 2023 and it is expected to rise to US$ 33.63 billion by 2032, with a consequently establishing a compound annual growth rate of 5.73% from 2024 to 2032. The major growth forces that put on the market are demographic tendencies, which include the rising proportion of elderly consumers and increasing rates of chronic diseases including diabetic issues and obesity.
Wound care products are on the rise due to the increase in surgical procedures that take place as well as the increase in the incidences of chronic diseases across the globe. The rising prevalence of diabetes, brought by a sedentary lifestyle is one of the major drivers of this market.
Wound Care Market Overview
A wound is any infringement that happens to skin or any other tissue, it can be a cut, a tear, a puncture, etc. They are classified in to open and closed and range from simple injuries such as incisions, laceration, burns to complex one resulting from accidents, operations or underlying illnesses. The normal healing starts as soon as the tissues are injured and include clotting of the blood, inflammation, tissue repair, and formation of a scar. Nevertheless, proper management of wound is essential for such healing process, infection control and to enhance the gain.Wound care products are on the rise due to the increase in surgical procedures that take place as well as the increase in the incidences of chronic diseases across the globe. The rising prevalence of diabetes, brought by a sedentary lifestyle is one of the major drivers of this market.
Growth Factors in the Wound Care Industry
Aging Population and Chronic Diseases
One of the most important forces impacting the global wound care market is the increasing incidence of ageing populace. These include pressure ulcers, diabetic foot ulcers and post-surgical wound injuries which are more prevalent among the elderly owing to the fact that they have lean skin and slow healing ability. Also, life expectancy and the common incidence of chronic diseases such as diabetes and obesity raise the chances of encountering complicated wounds. For instance, diabetes causes foot ulcers which if not well taken care off may become very complicated. Thus, the increased demand for more superior quality wound care products comprising of dressings, wound healing agents, and devices is proving to be on the raise as healthcare organizations seek to enhance their care delivery and patient outcomes especially for patients requiring long-term care. For instance, CDC reported that by April 2023, the total population of the United States, 3 million people have been diagnosed with diabetes and 96 million American adults are living with prediabetes.Technological Advancements and Innovative Products
The wound care industry is on the rise due to the increase in technology and development of new products in the market. There are new materials, hydrocolloids and alginates that provide better healing networks and quick recovery, bioactive dressings. Other aspects that can be tailored are smart technologies like moisture control sensors as well as the wound monitoring systems. These innovations have extended the market for next generation of wound care dressings beyond the basic range. Besides, medical devices such as NPWT devices, antimicrobial dressings and bioengineered skin substitutes have evolved and have become quite affordable, thus enhancing the treatment processes. Ongoing research in the injured tissue care products are expected to improve further the efficiency of wound care solutions and therefore fueling the market growth. For example, in early January 2023, scientists of the University of Arizona College of Medicine have designed a smart bandage with enhanced electronics for the stimulation of the tissue regeneration process. It uses electricity, biosensors displaying different signals, for the purpose of increasing blood circulation to damaged tissues to increase the rate of wound healing and reduce scar tissue.Growing Awareness and Healthcare Infrastructure Development
The market is growing due to the rising knowledge of wound care management amongst various healthcare assuring practitioners and patients. Campaigns and organizational crusades to promote early wound care and the risks associated with infections have put pressure and created awareness on consumers to seek enhanced forms of wound management. At the same time, the development of the healthcare system, particularly in the developing countries, has led to the availability of the required products and services related to wound care. Authorities and private sector are putting their money in enhancement of hospitals and clinics as well as wounds care centers. Furthermore, ageing population is imposing greater demands on healthcare and, consequently, on wound care costs and technologies; the healthcare insurance policies also provide patients with an ability to pay for more expensive products contributing to the industry growth. The markets which include the rural and urban markets are thus experiencing enhanced adoption of wound care.China Wound Care Market Overview
China’s wound care market is expanding steadily because of growing aging populations, rising incidence of chronic diseases, and enhancing healthcare systems. The market includes many types of products, and domestic and import wound care firms consider the market appealing. Thus, government driven demands towards a quantitative enhancement of the quality of healthcare have fueled market growth. Programs aiming at improving the control of diabetes, as well as the management of chronic wounds have also boosted consumption of the advanced wound care markets. The general trend that illustrates the development of new generation wound care products is still largely driven by basic products with rural markets still dominating the market share. So far in 2022, the NMPA has approved 210 medical devices, with only one wound care - an NPWT kit from Nantong Changyu Medical Technology Co., Ltd.Wound Care Market Company Overview
Some of the prominent companies in the Global Wound Care Market are Mölnlycke Healthcare, Smith & Nephew, Ethicon Inc (a subsidiary of Johnson & Johnson), Coloplast Corp, ConvaTec Group PLC, and Derma Sciences Inc (now part of Integra LifeSciences). These companies are known for their significant contributions to the field of wound care and have established themselves as industry leaders with innovative products and solutions.Wound Care Market News
- In September 2023, MiMedx Group, Inc. introduced EPIEFFECT, an enhanced wound care solution, to expand its product offering.
- In June 2023, JeNaCell introduced the wound dressing elicit balance on the German market. Pressure ulcers, diabetic foot ulcers, venous leg ulcers, arterial leg ulcers, and soft tissue lesions - chronic wounds with low to medium exudation are the best candidates for this treatment. This calculated launch aimed to increase sales and broaden the company's product line.
- In May 2023, Vizient, Inc. awarded Smith & Nephew a cutting-edge technology contract for its PICO Single Use Negative Pressure Wound Therapy Systems.
- In March 2023, Bactiguard AB introduced its range of wound care products in Ireland and the United Kingdom in partnership with Quintess Medical. The corporation wanted to improve its standing in the nation through this partnership.
Wound Type - Market breakup in 5 viewpoints:
- Advanced wound Dressings
- Traditional Wound Care Products
- Negative Pressure Wound Therapy
- Bioactive
- Others
Products - Market breakup in 11 viewpoints:
- Growth Factors
- Foam
- Antimicrobial
- Alginate
- Traditional Adhesive
- Hydrocolloid
- Hydrogel
- Traditional Gauze
- Film
- Traditional non-adherent
- Others
Application - Market breakup in 2 viewpoints:
- Chronic Wounds
- Acute Wounds
End User - Market breakup in 3 viewpoints:
- Home Care Settings
- Long-term care Facilities
- Hospital & Clinics
Country - Market breakup in 25 viewpoints:
North America
- United States
- Canada
Europe
- France
- Germany
- Italy
- Spain
- United Kingdom
- Belgium
- the Netherlands
- Turkey
Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Thailand
- Malaysia
- Indonesia
- New Zealand
Latin America
- Brazil
- Mexico
- Argentina
Middle East & Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
The key players have been covered from 5 viewpoints:
- Overviews
- Key Person
- Recent Developments & Strategies
- Product Portfolio & Product Launch in Last 1 Year
- Revenue
Company Analysis:
- Mölnlycke Healthcare
- Smith & Nephew
- Ethicon Inc (Johnson & Johnson)
- Coloplast Corp
- ConvaTec Group PLC
- Derma Sciences Inc. (Integra LifeSciences)
Table of Contents
1. Introduction2. Research Methodology3. Executive Summary5. Global Wound Care Market
4. Market Dynamics
6. Market Share Analysis
7. Wound Type
8. Products
9. Application
10. End User
11. Countries
12. Porter’s Five Forces
13. SWOT Analysis
14. Company Analysis
Companies Mentioned
- Mölnlycke Healthcare
- Smith & Nephew
- Ethicon Inc (Johnson & Johnson)
- Coloplast Corp
- ConvaTec Group PLC
- Derma Sciences Inc. (Integra LifeSciences)
Methodology
In this report, for analyzing the future trends for the studied market during the forecast period, the publisher has incorporated rigorous statistical and econometric methods, further scrutinized by secondary, primary sources and by in-house experts, supported through their extensive data intelligence repository. The market is studied holistically from both demand and supply-side perspectives. This is carried out to analyze both end-user and producer behavior patterns, in the review period, which affects price, demand and consumption trends. As the study demands to analyze the long-term nature of the market, the identification of factors influencing the market is based on the fundamentality of the study market.
Through secondary and primary researches, which largely include interviews with industry participants, reliable statistics, and regional intelligence, are identified and are transformed to quantitative data through data extraction, and further applied for inferential purposes. The publisher's in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of their recommendations and advice.
Primary Research
The primary purpose of this phase is to extract qualitative information regarding the market from the key industry leaders. The primary research efforts include reaching out to participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions. The publisher also established professional corporate relations with various companies that allow us greater flexibility for reaching out to industry participants and commentators for interviews and discussions, fulfilling the following functions:
- Validates and improves the data quality and strengthens research proceeds
- Further develop the analyst team’s market understanding and expertise
- Supplies authentic information about market size, share, growth, and forecast
The researcher's primary research interview and discussion panels are typically composed of the most experienced industry members. These participants include, however, are not limited to:
- Chief executives and VPs of leading corporations specific to the industry
- Product and sales managers or country heads; channel partners and top level distributors; banking, investment, and valuation experts
- Key opinion leaders (KOLs)
Secondary Research
The publisher refers to a broad array of industry sources for their secondary research, which typically includes, however, is not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Patent and regulatory databases for understanding of technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic new articles, webcasts, and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 230 |
| Published | August 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 20.36 Billion |
| Forecasted Market Value ( USD | $ 33.63 Billion |
| Compound Annual Growth Rate | 5.7% |
| Regions Covered | Global |
| No. of Companies Mentioned | 6 |
