Report : North America Wound Care Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Product (Advanced Wound Dressing, Surgical Wound Care, Traditional Wound Care, and Wound Therapy Devices), Wound Type (Chronic Wounds and Acute Wounds), and End User (Hospitals, Specialty Clinics, Home Healthcare, and Others)
At 5.9% CAGR, the North America Wound Care Market is speculated to be worth US$ 11,178.22 million by 2028, says The Business Market Insights
According to the Business Market Insights’ research, the North America wound care market was valued at US$ 7,920.27 million in 2022 and is expected to reach US$ 11,178.22 million by 2028, registering a CAGR of 5.9% from 2022 to 2028. Increasing cases of road traffic injuries and rising prevalence of chronic diseases and related wounds are the critical factors attributed to the North America wound care market expansion.
Wound care and wound dressing have broad applications in traumatic injuries. An increasing number of road accidents is one of the key concerns for countries with high populations and low socioeconomic backgrounds, as road traffic injuries cause considerable economic losses. According to the World Health Organization (WHO) 2022 report, road traffic crashes cost most countries 3% of their gross domestic product (GDP). According to WHO, 93% of road fatalities occur in low- and middle-income countries, where ~ 60% of the vehicles run. Secondly, Road traffic injuries is one of the leading causes of death for children and young adults aged 5–29 years. Road accidents often cause serious blood loss and other injuries and require immediate medical attention and sometimes surgical intervention to provide immediate relief to the patient. Therefore, an increase in road accidents is boosting the demand for wound dressing products and is driving the growth of the North America wound care market.
On the contrary, challenges in wound care management and increase in product recalls hurdles the growth of North America wound care market.
Based on product, the North America wound care market is segmented into advanced wound dressing, surgical wound care, traditional wound care, and wound therapy devices. The advanced wound dressing segment held 38.9% market share in 2022, amassing US$ 3,084.32 million. It is projected to garner US$ 4,621.64 million by 2028 to expand at 7.0% CAGR during 2022–2028.
Based on wound type, the North America wound care market is bifurcated into chronic wounds and acute wounds. The chronic wounds segment held 61.7% market share in 2022, amassing US$ 4,888.17 million. It is projected to garner US$ 7,011.38 million by 2028 to expand at 6.2% CAGR during 2022–2028.
Based on end user, the North America wound care market is segmented into hospitals, specialty clinics, home healthcare, and others. The hospitals segment held 40.8% market share in 2022, amassing US$ 3,229.57 million. It is projected to garner US$ 4,709.16 million by 2028 to expand at 6.5% CAGR during 2022–2028.
Based on country, the North America wound care market has been categorized into the US, Canada, and Mexico. Our regional analysis states that the US captured 70.2% market share in 2022. It was assessed at US$ 5,557.65 million in 2022 and is likely to hit US$ 8,053.91 million by 2028, exhibiting a CAGR of 6.4% during the forecast period.
Key players dominating the North America wound care market are 3M Co, Baxter International Inc, Coloplast AS, ConvaTec Group Plc, Ethicon USA LLC, Integra LifeSciences Holdings Corp, Medtronic Plc, MiMedx, PAUL HARTMANN AG, and Smith & Nephew Plc among others.
- In May 2021, 3M announced the launch of 3M Prevena Restor BellaForm Therapy – the next generation in post-operative healing following breast surgery.
- In July 2022, Smith+Nephew announced the launch of the WOUND COMPASS Clinical Support App. The WOUND COMPASS, Clinical Support App, is a comprehensive digital support tool for health care professionals that aids wound assessment and decision-making to help reduce practice variation.
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