The Europe wound care market is expected to grow from US$ 4,768.03 million in 2022 to US$ 6,505.56 million by 2028. It is estimated to record a CAGR of 5.3% from 2022 to 2028.
Increasing Number of Product Launches, Approvals, Collaborations, and Research Activities to Fuel Europe Wound Care Market Growth During Forecast Period
The wound care market experiences various changes in the technology landscape, enabling players to develop innovative products. State-of-the-art products may assist in conferring improved health conditions. Leading companies consolidate the market through various R&D activities to offer modern products. A few recent important product launches, approvals, and collaborations have taken place in recent years. For instance, in October 2021, Healthium Medtech Limited launched TRUSHIELD NXT surgical wound dressing. The product has patents in the US, Europe, and India. Similarly, in June 2021, Bactiguard and German company Schülke & Mayr GmbH (schülke) signed an exclusive distribution agreement for Bactiguard wound care solutions for German hospitals. To support market development, the governments of many countries have invested in clinical research infrastructure for wound care. The UK has the most integrated clinical research infrastructure in the world, with specialist clinical research networks coordinating the fast-tracking and delivery of clinical trials. Thus, the rise in product launches, approvals, collaborations, and research infrastructure would offer lucrative opportunities for the Europe wound care market during the forecast period.
Europe Wound Care Market Overview
The Europe wound care market is segmented into the UK, Germany, France, Italy, Spain, and the rest of Europe. Germany dominated the market in 2022. The rising burden of wound cases is a major public concern in Germany. The country is experiencing an increasing number of chronic wounds caused due to diabetes. The prevalence of diabetes is significantly rising across the country. According to the International Diabetes Federation 2022, Diabetes incidences in Germany were 6,199.9 in 2021 and are expected to reach 6,519.7 by 2030 and 6,094.4 by 2045. As a result, a significant portion of people is likely to suffer from DFU, propelling the demand for wound care products. Players operating in the wound care market are launching innovative products for wound care management. In December 2021, sanaFactur launched its brand “suppliDerm” in Germany. The brand’s product is a food supplement supporting tissue regeneration, the immune system, and energy metabolism. The product is likely to support wound therapy through regenerative metabolism. According to the BVMed, ~2.7 million people in Germany suffer from complex wounds, and nearly 900,000 patients take a chronic course. Thus, the wound care market is expected to experience a high demand for wound care products across Germany, and developments by market players will fulfill the demand across the country during the forecast period.
Europe Wound Care Market Revenue and Forecast to 2028 (US$ Million)
Europe Wound Care Market Segmentation
The Europe wound care market is segmented based on product, wound type, end user, and country.
Based on product, the Europe 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 the largest share of Europe wound care market in 2022.
Based on wound type, the Europe wound care market is bifurcated into chronic wounds and acute wounds. The chronic wounds segment a larger share of the Europe wound care market in 2022.
Based on end user, the Europe wound care market is segmented into hospitals, specialty clinics, home healthcare, and others. The hospitals segment held the largest share of the Europe wound care market in 2022.
Based on country, the Europe wound care market has been categorized into the UK, Germany, France, Italy, Spain, and the Rest of Europe. Our regional analysis states that Germany dominated the Europe wound care market in 2022.
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 are the leading companies operating in the Europe wound care market.