Wound Care Market Insights :
Wound Care Market is projected to be worth USD 30.38 Billion by 2030, registering a CAGR of 4.3% during the forecast period (2022-2030), The market was valued at USD 20.80 Billion in 2021. The advanced wound dressing category led the wound care market in 2021, with the highest revenue share of 33.4%. The application segment chronic wounds led the growth wound care market in 2021, accounting for 61.2% of total revenue, and is predicted to increase at a rapid pace throughout the forecast years. North America had largest share in the wound care market and account for 45.4% of revenue in 2021.
Wound Care Market Dynamics:
Wound care involves wound management of wound at every stage of healing. This care includes diagnosing wound type, factors affecting wound healing, and a course of treatments for wound management.
Driver:
Rising prevalence of chronic diseases and increasing number of surgical cases across the globe is driving the growth of the wound care market. Also, growing prevalence of diabetic patient due to sedentary lifestyle is a factor contributing to market expansion. For instance, in 2018, as per American Diabetes Association 34.2 million people had diabetes i.e., 10.5% of the total U.S. population.
Restraint:
The factors hampering the growth of the market is delayed diagnosis of chronic wounds in developing countries or underdeveloped countries which is expected to limit product adoption. Further, low awareness about products, limited access to high end healthcare infrastructure, lack of government initiatives are expected to restrain the growth of the wound care market.
Opportunity:
Rising number of surgeries and prevalence of chronic disorder globally are developing the acceptance of products associated with Advance Wound Care. Further, reliable demand for versatile wound care products and first aid is expected to create the lucrative opportunity for the wound care market.
COVID-19 Analysis of Wound Care Market:
The wound care market has been significantly impacted due to the COVID-19 pandemic in many different parts of the world. Shipments were impacted during the initial lockdown due to a labor shortage and the closure of a manufacturing facility. The pandemic’s initial effects in China were tremendous. However, the nation’s circumstances have stabilized, and all product and service production rates have increased. As a result, it is determined that COVID-19’s overall impact on the Wound Care market is moderate. Post covid-19 there was a positive impact on the Wound Care market as consumers were more focused on health, which increased the demand for Wound Care.
Wound Care Report Coverage:
| Report Attributes | Report Details |
| Study Timeline | 2016-2030 |
| Market Size in 2030 (USD Billion) | 30.38 |
| CAGR (2022-2030) | 4.3% |
| By Product | Advanced Wound Dressing – Foam Dressings, Hydrocolloid Dressings, Film Dressings, Alginate Dressings, Hydrogel Dressings, Collagen Dressings, Other Advanced Dressings
Surgical Wound Care – Sutures & staples, Tissue adhesive and sealants, Anti-infective dressing Traditional Wound Care – Medical tapes, Cleansing agents Wound Therapy Devices – Negative pressure wound therapy, Oxygen and hyperbaric oxygen equipment, Electric stimulation devices, Pressure relief devices, Others |
| By Application | Chronic Wounds – Diabetic foot ulcers, Pressure ulcers, Venous leg ulcers, Other chronic wounds
Acute Wounds – Surgical & traumatic wounds, Burns |
| By End-Use | Hospitals, Specialty Clinincs, Home Healthcare, Others |
| By geography | North America– (U.S., Canada, Mexico
Europe- (Germany, France, U.K., Russia, Italy, Spain, BENELUX, Rest of Europe) Asia Pacific- (China, Japan, India, South Korea, Australia, ASEAN, Rest of Asia Pacific) Latin America- (Brazil, Argentina, Chile, Rest of Latin America) Middle East and Africa- (GCC, Turkey, Israel, Rest of MEA) |
| Key Players | 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) |
Wound Care Market Segment Analysis:
By Product
The advanced wound dressings category led the wound care market in 2021, with the highest revenue share of 33.4%. Advanced wound dressing is primarily used to treat chronic and non-healing wounds. As a result, the rising number of chronic wounds, such as diabetic foot ulcers, is predicted to accelerate the growth of the market. According to the Independent Diabetes Trust, 115,000 people in the United Kingdom are expected to suffer from diabetic foot ulcer, whereas each year 278,000 people are treated for venous leg ulcers. As a result of the abovementioned factors, the wound care market is predicted to grow.
By Application
The application segment chronic wounds led the growth wound care market in 2021, accounting for 61.2% of total revenue, and is predicted to increase at a rapid pace throughout the forecast years. The growing aging population, venous pressure ulcers, rising cases of diabetic foot ulcers, and other chronic wounds, are expected to influence the growth of the market. As per the Administration for Community the U.S. population over 65 age and above is estimated to reach 54.1 million in 2019. Further, the population expanded by 36% from 2009 to 2019, and is expected to reach 80.8 million by 2040. Also, the number of people struggling with varicose veins in the United States is growing each year. As per the Journal of the American Heart Association, almost 23% of Americans, or one in every four, have varicose veins. An escalation in the number of varicose veins may result in the development of venous leg ulcers, boosting the wound care market.
End-Use
In 2021, the hospital segment dominated the growth of wound care market, accounting for 44.8% of total revenue. This segment’s expansion is due to an increase in surgical operations worldwide owed to inactive lifestyles, surge in bariatric surgeries were wound care products are used to prevent surgical site infections. Furthermore, NPWT and surgical wound care dressings are predominantly aimed for hospital usage and are not appropriate for home care. Furthermore, healthcare organizations are regarded as significant customers of wound care since they have long-term contracts with providers. As a result of the factors discussed, the category is expected to grow over the projected period.
By Region
The Wound Care market is divided into four regions such as North America, Europe, Asia-Pacific, and Latin America. North America holds the largest share in the wound care market, accounting for 45.4% of revenue in 2021, and is predicted to rise at a rapid pace throughout the forecast period. The presence of a huge population base and a growing patient pool in nations such as the United States are important factors driving market expansion in this area. Furthermore, because the senior population is more vulnerable to wounds, the need for wound care as well as wound healing products in this region will increase. According to the Administration for Community Living, the percentage of individuals aged 65 and over was 54.1 million in 2019, representing 16% of the population. Furthermore, there is a growing incidence of traffic accidents and a scarcity of trained workers in this field.
Wound Care Market Competitive Landscape:
The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry. Further, the surge in Research and Development (R&D), product innovation, various business strategies, and Application launches have accelerated the growth of the Wound care market. Key players in the market include-
- Smith & Nephew plc
- ConvaTec Group Plc
- Coloplast A/S
- Mölnlycke Health Care AB
- Ethicon (Johnson & Johnson)
- Baxter International
- URGO Medical
- Medtronic
- 3M
- Derma Sciences Inc. (Integra LifeSciences)
Recent Development:
- April 2020, MaxioCel Cutting-Edge Innovation in Advanced Wound Care was introduced by AxioBiosolutions. The next generation Chitosan-based wound dressing demonstrates pain management and scar improvement properties, accelerating wound healing with maximum comfort and speed.
- January 2020, ConvaMax, a superabsorber dressing used for wound dressing of highly exuding wounds such as pressure ulcers, leg ulcers, and diabetic foot ulcers, was announced by ConvaTec.
Table of Content
- Introduction
- Market Introduction
- Market Research Methodology
- Research Process
- Primary Research
- Secondary Research
- Data Collection Technique
- Data Sources
- Market Estimation Methodology
- Limitations of the Study
- Product Picture of Wound Care
- Global Wound Care Market: Classification
- Geographic Scope
- Years Considered for the Study
- Research Methodology in brief
- Parent Market Overview
- Overall Wound Care Market Regional Demand
- Research Programs/Design
- Market Breakdown and Data Triangulation Approach
- Data Source
- Secondary Sources
- Primary Sources
- Primary Interviews
- Average primary breakdown ratio
- Market Dynamics
- Drivers
- Drivers
- Restraints
- Restraints
- Opportunity
- Impact forces on market dynamics
- Impact forces during the forecast years
- Industry Value Chain
- Upstream analysis
- Downstream analysis
- Distribution Channel
- Direct Channel
- Indirect Channel
- Potential Customers
- Manufacturing/Operational Cost Analysis
- Pricing Analysis by Region
- Key Product Landscape
- Regulatory Analysis
- Porter’s Analysis
- Supplier Power
- Buyer Power
- Substitution Threat
- Threat from New Entry
- Competitive Rivalry
- PESTEL Analysis
- Political Factors
- Economic Factor
- Social Factors
- Technological Factor
- Environmental Factors
- Legal Factor
- Covid-19 impact on Global Economy
- Covid-19 impact on Wound Care demand
- Post-Covid Impact on Wound Care Market Demand
- Impact Analysis of Russia-Ukraine Conflict
- Drivers
- Global Wound Care Market Segmentation, by Revenue (USD Billion), (2022-2030)
- By Product
- Advanced Wound Dressing
- Foam Dressings
- Hydrocolloid Dressings
- Film Dressings
- Alginate Dressings
- Hydrogel Dressings
- Collagen Dressings
- Other Advanced Dressings
- Surgical Wound Care
- Sutures & staples
- Tissue adhesive and sealants
- Anti-infective dressing
- Traditional Wound Care
- Medical tapes
- Cleansing agents
- Wound Therapy Devices
- Negative pressure wound therapy
- Oxygen and hyperbaric oxygen equipment
- Electric stimulation devices
- Pressure relief devices
- Others
- By Application
- Chronic Wounds
- Diabetic foot ulcers
- Pressure ulcers
- Venous leg ulcers
- Other chronic wounds
- Acute Wounds
- Surgical & traumatic wounds
- Burns
- By End Use
- Hospitals
- Specialty Clinics
- Home Healthcare
- Others
- Chronic Wounds
- Advanced Wound Dressing
- By Product
- Global Wound Care Market Overview, By Region
- North America Wound Care Market Revenue (USD Billion), by Countries, (2022-2030)
- US
- By Product
- By Application
- By End Use
- Canada
- Mexico
- US
- Europe Wound Care Market Revenue (USD Billion), by Countries, (2022-2030)
- France
- UK
- Spain
- Russia
- Italy
- BENELUX
- Asia Pacific Wound Care Market Revenue (USD Billion), by Countries, (2022-2030)
- China
- Japan
- Australia
- South Korea
- India
- ASEAN
- North America Wound Care Market Revenue (USD Billion), by Countries, (2022-2030)
- Latin America Wound Care Market Revenue (USD Billion), by Countries, (2022-2030)
- Brazil
- Argentina
- Chile
- Middle East and Africa Wound Care Market Revenue (USD Billion), by Countries, (2022-2030)
- GCC
- Turkey
- South Africa
- Global Wound Care Market Revenue: Competitive Analysis, 2021
- Key strategies by players
- Revenue (USD Billion and %), By manufacturers, 2021
- Player Positioning by Market Players, 2021
- Competitive Analysis
- Amgen, Inc.
- Business Overview
- Business Financials (USD billion)
- Product Category, Type, and Specification
- Main Business/Business Overview
- Geographical Analysis
- Recent Development
- Swot Analysis
- 3M Company
- Smith & Nephew PLC
- Cardinal Health
- Medtronic PLC
- Braun Melsungen AG
- Amgen, Inc.
- Market Research Findings & Conclusion
Disclaimer
Research Methodology
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