Pune, India, July 26, 2023 (GLOBE NEWSWIRE) -- The global chronic wound care market size was valued at USD 12.48 billion in 2022. The market is projected to grow from USD 13.29 billion in 2023 to USD 21.00 billion by 2030, exhibiting a CAGR of 6.8% during the forecast period.
The adoption of advanced active therapies by market players is driving the growth of the market. These therapies are effective in treating chronic wounds characterized by symptoms such as tissue loss and slow healing. The increasing adoption of active therapies is expected to contribute to the market's growth in the forecast period. Fortune Business Insights presents this information in their report titled "Global Chronic Wound Care Market, 2023–2030."
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Key Industry Development:
- November 2021: ConvaTec Group PLC extended its partnership with Vizient, Inc. for advanced wound care products, technologies, and services for further three years up to 2025.
Key Takeaways:
- The market is divided into diabetic ulcers, pressure ulcers, venous leg ulcers, and others by type.
- In 2022, the market size in North America was USD 4.68 billion.
- Around 6.7 million individuals worldwide were estimated to be suffering from chronic wounds, as reported by Mission Regional Medical Center.
- The National Center for Biotechnology Information reported an annual estimate of 1.0 to 3.0 million people affected by chronic wounds in the U.S.
Discover the Leading Players Featured in the Report:
Smith & Nephew (U.K.), Mölnlycke Health Care AB (Sweden), 3M (U.S.), ConvaTec Group PLC (U.K.), Tissue Regenix (U.S.), B. Braun Melsungen AG (Germany), Integra Life Sciences Corporation (U.S.), Coloplast Corp (Denmark), Cardinal Health (U.S.), MiMedx (U.S.)
Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2023 to 2030 |
| Forecast Period 2023 to 2030 CAGR | 6.8% |
| 2030 Value Projection | USD 21.00 billion |
| Base Year | 2022 |
| Market Size in 2023 | USD 13.29 billion |
| Historical Data | 2019-2021 |
| No. of Pages | 160 |
| Segments Covered | By Type, Product, End User, and Region |
Browse Complete Report Details: https://www.fortunebusinessinsights.com/industry-reports/chronic-wound-care-market-100222
Driving factor:
Rising Prevalence of Chronic Wounds Spurs Demand for Wound Management Solutions
The increasing prevalence of conditions such as diabetic ulcers and pressure ulcers is projected to drive the demand for dressings, devices, and active therapies in the treatment of these wounds. Research studies by National Center for Biotechnology Information in December 2021 have reported a significant number of 1.0 to 3.0 million individuals in the U.S. suffering from pressure injuries, highlighting the need for effective wound management solutions.
Segmentation:
Diabetic Ulcers Drive Growth with Wound Care Solutions Targeting Diabetic Ulcers
By type, the market is segmented into diabetic ulcers, pressure ulcers, venous leg ulcers, and others. The diabetic ulcers segment emerged as the dominant segment due to the high prevalence of diabetes globally and the growing occurrence of diabetic ulcers among diabetic individuals.
Advanced Wound Dressings Lead with Cost-Effective and Versatile Solutions
By product, the market is classified into advanced wound dressings, wound care devices, active therapy, and others. Advanced wound dressings secured a significant chronic wound care market share in 2022, primarily due to their cost-effectiveness and efficient management of different types of wounds.
Hospitals & Wound Clinics Take Center Stage with Rising Number of Patients Seeking Treatment for Difficult-to-Heal Wounds
By end user, the market is divided into hospitals & wound clinics and home care settings & others. The hospitals & wound clinics segment is expected to hold a prominent market share in the forecast period, driven by a rise in the number of patients seeking treatment for difficult-to-heal chronic wounds in hospital settings.
From the regional ground, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
By Type
- Diabetic Ulcers
- Pressure Ulcers
- Venous Leg Ulcers
- Others
By Product
- Advanced Wound Dressings
- Wound Care Devices
- Active Therapy
- Others
By End User
- Hospitals & Wound Clinics
- Homecare Settings & Others
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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Regional insights:
North America Leads the Wound Care Market with High Demand for Wound Dressings
North America held a significant market size of USD 4.68 billion in 2022, primarily driven by a large patient population suffering from chronic wounds. The region's high demand and adoption of wound dressings contribute to its market dominance in the wound care industry.
The Europe market is projected to achieve significant chronic wound care market growth driven by a rising patient population with chronic wounds and increased healthcare spending on treating various types of ulcers.
Competitive Landscape
Strong Market Presence and Distribution Networks Position Companies for Success
The dominant players in the global wound care market owe their success to a robust product portfolio for chronic and acute wounds and an extensive distribution network. In addition, strategic expansions and acquisitions of domestic players are expected to contribute to the strong market presence and growth of these companies globally.
FAQs
How big is the Chronic Wound Care Market?
Chronic Wound Care Market size was USD 13.29 billion in 2023.
How fast is the Chronic Wound Care Market growing?
The Chronic Wound Care Market will exhibit a CAGR of 6.8% during the forecast period, 2023-2030
Related Links:
Advanced Wound Care Market Size, Share, Growth Industry Report
Advanced Wound Dressings Market Share, Size, Demand, and Forecast
Active Wound Care Market Size, Share, Growth Industry Report
Diabetic Foot Ulcer (DFU) Treatment Market Share, Size, Demand, and Forecast
Wound Care Market Share, Size, Demand, and Forecast
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