Wound care Market by Product (Dressings (Foam, Film, Hydrocolloid, Collagen), Devices (NPWT, Assessment, Debridement), Graft, Matrix, Suture, Stapler), Wound(DFUs, Trauma, Surgical, Burn), End User (Hospitals, Clinics) and Geography: Global Market Size Estimates and Forecast (2022–2030)
The market crossed US$ 1.5 billion mark in 2022 and is expected to hit US$ 3.37 billion by 2030, recording a CAGR of 20.33% during the forecast period.
The wound care market has been significantly growing with the number of surgical cases.
Moreover, the surge in the prevalence of chronic diseases across the globe is also driving the market's growth. Wound care products, including wound healing products, help to cure diabetic foot ulcers, which are prevalent in diabetic patients. For instance, according to ScienceDirect, diabetic foot ulcers may affect more than 25% of the diabetic population and may lead to foot amputation in 20% of patients. The advanced wound care product segment holds the maximum share owing to increasing technology in the wound care market.
Within the report, the market is segmented into product, wound, end-user, and geography. By product, the market is segmented into dressings (foam, film, hydrocolloid, collagen), devices (NPWT, assessment, debridement), graft, matrix, suture, stapler. Based on wound, the market is segmented into DFUs, trauma, surgical, and burn. Based on end-user, the market is bifurcated into hospitals and clinics. Geographically, the market is subsegmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.
Higher demand for advanced wound care dressings will provide future opportunity
Advanced wound care dressing is critical to care for wounds arising from accidents, chronic disorders, and other diseases. Advanced wound dressing needs advanced technology to carry out the advanced dressing of the wound and results in fast recovery of the wound and patients. Moreover, they offer several advantages, for example they help maintain a hydrated environment for proper flow of oxygen, keeping the temperature consistent, protecting the wound site from exogenous infection, and easing pain associated with dressing changes.
In addition, increase in awareness programs for advanced wound care treatment and management, attempts to diminish the extent of the hospital stay to lower healthcare expenditures, and increase in inclination toward wound care products that improve therapeutic consequences are other factors that contribute toward the growth of the market.
Introduction of Technically Advanced Products is one of the major factors accelerating market growth.
The significant investment in research and development activities has led to the launch of advanced products by key players in the market. For instance, in 2020, ConvaTec Group PLC launched ConvaMax, super absorber wound dressing intended to manage highly exuding wounds including leg ulcers, pressure ulcers, and diabetic foot ulcers.
Recent strategic developments in wound care market
The wound care market has undergone several significant developments, and a few of these have been mentioned below:
- In April 2021, 3M Company launched 3M Spunlace Extended Wear Adhesive Tape on Liner, 4576. It has a lengthier wear time of about 21 days that gives user compliance and health and economic assistances
- In May 2021, Smith & Nephew launched ARIA Home PT, a remote physical therapy product as part of the ARIA suite of solutions.
- In March 2020, Cardinal Health launched surgical drape that features Avery Dennison's patented BeneHold CHG adhesive technology, which aids decrease the risk of surgical site contamination.
Several players drive the wound care market by implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. 3M Company, Smith & Nephew PLC, Cardinal Health, Medtronic PLC, B. Braun Melsungen AG, Baxter International, Inc., Mölnlycke Health Care AB are among the prominent players operating in the market.
Target audience for the report:
- Drug developing companies
- Contract development and manufacturing organization,
- Drug discovery-related associations, organizations, forums, and alliances
- Government bodies, such as regulating authorities and policymakers
- Venture capitalists, private equity firms, and start-up companies
- Drug distributors and sales firms
- End users of drug discovery
- Research institutes, organizations, and consulting companies
Scope of the report:
In this report, the market has been segmented on the basis of:
- Product:
- Dressings
- Foam
- Film
- Hydrocolloid
- Collagen
- Devices
- NPWT
- Assessment
- Debridement
- Graft matrix
- Suture
- Stapler
- Wound:
- DFUs
- Trauma
- Surgical
- Burn
- End User:
- Hospitals
- Clinics
- Region
- North America
- Europe
- Asia Pacific (APAC)
- South & Central America
- Middle East & Africa
- Companies profiled
- 3M Company
- Smith & Nephew PLC
- Medtronic PLC
- MiMedx Group, Inc
- Zimmer Biomet Holdings, Inc
- Welcare Industries SPA
- Advancis Medical LLC
- DermaRite Industries LLC
- Medline Industries, Inc.
- Baxter International, Inc.
- 3M Company
- Smith & Nephew PLC
- Medtronic PLC
- MiMedx Group, Inc
- Zimmer Biomet Holdings, Inc
- Welcare Industries SPA
- Advancis Medical LLC
- DermaRite Industries LLC
- Medline Industries, Inc.
- Baxter International, Inc.