Austin, Dec. 16, 2024 (GLOBE NEWSWIRE) -- Wound Care Market Size & Growth Analysis:
“According to SNS Insider, the Wound Care Market size was valued at USD 21.8 billion in 2023 and is projected to reach USD 33.99 billion by 2032, growing at a CAGR of 5.08% during the forecast period 2024-2032.”
Increasing Demand for Advanced Solutions and Innovations Fuels Market Growth
The global wound care market is witnessing accelerated growth due to the increasing prevalence of chronic wounds, rising surgical procedures, and significant advancements in wound management technologies. Key factors driving demand include the aging global population and the growing burden of conditions such as diabetes and obesity, which contribute to complications like pressure ulcers and diabetic foot ulcers.
Chronic wounds, requiring prolonged and specialized care, have boosted the adoption of advanced solutions such as bioengineered dressings and negative pressure wound therapy (NPWT). On the supply side, industry leaders are leveraging innovation and strategic collaborations to meet escalating market needs.
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Major Players Analysis Listed in this Report are:
- Smith+Nephew
- Convatec Group PLC
- Mölnlycke Health Care AB
- Baxter
- DeRoyal Industries Inc.
- Coloplast Corp
- Medtronic
- 3M
- INTEGRA LIFESCIENCES
- Medline Industries LP
- Johnson & Johnson Services Inc.
- B. Braun SE
- MIMEDX Group Inc.
- Cardinal Health
- Organogenesis Inc
Market Overview
The wound care market is set to expand significantly as chronic wounds and surgical procedures increase worldwide. The aging population and lifestyle-associated conditions like diabetes and obesity have elevated the demand for advanced wound care products. Long-term care for chronic wounds, including diabetic foot ulcers and pressure sores, has spurred the adoption of bioengineered dressings and NPWT.
Leading manufacturers are focusing on innovative product development and strategic partnerships to cater to rising demand. North America dominated the market due to advanced healthcare infrastructure and greater awareness of modern wound care practices. Meanwhile, emerging economies in the Asia-Pacific region are gaining traction, driven by growing healthcare investments and improved accessibility to care. Furthermore, the rising emphasis on infection control and postoperative care is fueling the adoption of surgical wound care products globally.
Wound Care Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | US$ 21.8 billion |
| Market Size by 2032 | US$ 33.99 billion |
| CAGR | CAGR of 5.08% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Key Regional Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East]), Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
Segment Analysis
By Product:
In 2023, advanced wound care products accounted for approximately 45.0% of the market share, dominating the segment. Their effectiveness in managing chronic wounds such as diabetic foot ulcers and pressure ulcers, coupled with their ability to enhance healing time, has made them the preferred choice among healthcare providers. Rising adoption in developed regions and increasing prevalence of chronic conditions have further propelled the demand for hydrocolloids, foam dressings, and bioengineered skin substitutes.
The surgical wound care products segment is expected to witness the fastest growth during the forecast period, driven by the growing number of global surgical procedures and increased awareness of postoperative care. The segment’s growth is also supported by advancements in wound closure technologies, including surgical tapes, sutures, and staples.
By Wound Type:
Chronic wounds emerged as the dominant segment in 2023, contributing to nearly 55.0% of market revenue. This dominance is attributed to the rising incidence of long-term conditions such as diabetes and obesity, which lead to complications like pressure sores and diabetic foot ulcers. The specialized care required for chronic wounds has driven the adoption of advanced therapies such as NPWT and bioengineered dressings.
Acute wounds, on the other hand, are expected to exhibit the fastest growth rate. This growth is driven by the increasing prevalence of trauma and burn injuries, coupled with a rising number of surgical procedures in developing economies. The demand for traditional dressings, antimicrobial solutions, and surgical tapes continues to grow to address acute wound care needs.
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Wound Care Market Key Segmentation:
By Product
- Advanced Wound Care Products
- Surgical Wound Care Products
- Traditional Wound Care Products
By Wound Type
- Acute Wound
- Surgical & Traumatic Wounds
- Burns
- Chronic Wound
- Diabetic Foot Ulcers
- Pressure Ulcers
- Venous Leg Ulcers
- Other Chronic Wounds
By End User
- Hospitals and Clinics
- Long-term patient care
- Home care settings
- Other end users
Regional Insights
North America led the wound care market, driven by advanced healthcare systems, strong awareness about infection control, and robust adoption of innovative wound care solutions. These regions also benefit from significant investments in research and development by major industry players.
Meanwhile, the Asia-Pacific region is emerging as a lucrative market due to increasing healthcare expenditures, a growing population, and rising awareness of advanced wound care technologies. Countries like India and China are witnessing significant growth in healthcare infrastructure, further fueling the market's expansion in this region.
Recent Developments
- December 2024 – SolasCure Ltd. partnered with the U.S. Army Institute of Surgical Research to evaluate Aurase Wound Gel, a hydrogel containing a recombinant enzyme derived from medical maggots, for managing and promoting healing in combat wounds.
- October 2024 – Swift Medical launched the Skin & Wound 2 platform, an AI-powered solution aimed at accelerating wound healing. The platform, widely recognized as a gold standard in digital wound care, supports over 50 million patient assessments and demonstrates improved outcomes through equitable AI.
- May 2024 – Human BioSciences Inc. collaborated with Skintech Green Ltd. in Kenya to introduce advanced collagen products for wound care. The partnership also includes plans to establish a production facility, create new job opportunities, and enhance healthcare accessibility in the region.
Conclusion
The wound care market is on a promising growth trajectory, fueled by increasing chronic conditions, advancements in innovative technologies, and heightened awareness of efficient wound management practices. Industry leaders are actively driving progress through innovation, strategic partnerships, and market expansion, particularly in emerging regions.
As global healthcare systems prioritize improved patient outcomes and advanced care solutions, the demand for cutting-edge wound care products is expected to rise steadily. With North America and Europe continuing to lead the market and Asia-Pacific emerging as a significant growth hub, the wound care industry is well-prepared to meet the evolving demands of modern healthcare and deliver impactful solutions for enhanced wound care management worldwide.
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Table of Contents – Major Key Points
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
6. Competitive Landscape
7. Wound Care Market Segmentation, by Product
8. Wound Care Market Segmentation, by Wound Type
9. Wound Care Market Segmentation, End User
10. Regional Analysis
11. Company Profiles
12. Use Cases and Best Practices
13. Conclusion
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