Wound Care Market Size Expected to Surpass US$ 28.57 Bn by 2030

According to Vision Research Report Reports, the global Wound Care market size was valued at US$ 19.59 Bn in 2021 and is expected to grow at a CAGR of 3.11% from 2022 to 2030.

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Growth Factors

Increasing number of surgical cases, rapidly aging population, as well as rising number of diabetic patients, are among the major factors driving the market growth. For instance, according to Ageing Asia, in 2019, more than 139 million people i.e., about 10% of the total population, in India were over the age of 60 years. The number is expected to increase to 19.5% by 2050. Elder people are more susceptible to wounds, and thus, an increasing number of geriatric population is anticipated to propel the market growth. Obesity is a major health concern that leads to several other diseases or complications, such as diabetes and Cardiovascular Diseases (CVDs).

The demand for wound care products is increasing owing to the rising number of surgical cases and the growing prevalence of chronic diseases across the globe. Furthermore, increasing the incidence of diabetes due to a sedentary lifestyle is another leading factor contributing to market growth. For instance, according to the American Diabetes Association, in 2018, an estimated 34.2 million people, i.e., 10.5% of the total U.S. population, had diabetes. Moreover, nearly 1.6 million U.S. residents had type 1 diabetes, which includes about 187,000 adolescents and children.

Report Coverage

By Product Analysis

On the basis of products, the global market has been further segmented into advanced wound dressings, surgical wound dressings, traditional wound dressings, and wound therapy devices. The advanced wound dressing product segment accounted for the maximum share of 34.65% of the global revenue in 2021.

The segment is estimated to expand further at the fastest growth rate retaining its leading position in the market throughout the forecast period. Advanced wound dressing is majorly used for the treatment of chronic and non-healing wounds.

An increase in cases of chronic wounds, such as diabetic foot ulcers, is expected to boost the segment growth. For instance, as per the Centers for Disease Control and Prevention (CDC), in 2016, around 5.0% of the people in the U.S. were diagnosed with Type 1 diabetes and approximately 15.0% of this diabetic population suffers from diabetic wounds or diabetic ulcers.

By Active Wound Care Analysis

On the basis of active wound care, the market has been further categorized into biomaterials and skin substitutes. The skin-substitute segment is expected to witness the fastest growth rate of 4.91% during the forecast period. Skin substitutes replace the function and form of skin, either temporarily or permanently.

Advancements in technology for the development of skin substitutes, such as collagen-synthetic bilaminates and tissue culture-derived, are also among the key factors expected to contribute to the segment growth over the forecast period.

The segment growth can be attributed to the rapid technological advancements involving the usage of biomaterials for wound healing therapies. These wound care products comprise both synthetic and natural substances that help in both wound healing and tissue regeneration.

By Application Analysis

On the basis of application, the wound care market has been segmented into chronic and acute wounds. The acute wounds segment held the largest revenue share of more than 59.00% in 2021 and is anticipated to witness a considerable growth rate over the forecast period.

Acute wound products are majorly used for treating acute wounds, such as traumatic wounds. The chronic wounds segment is expected to grow at the fastest CAGR during the forecast period.The increasing geriatric population, along with the rising prevalence of diabetic foot ulcers, venous pressure ulcers, and other chronic wounds is expected to drive the segment growth.

This population increased about 36% from 2009 to 2019 and is projected to reach 80.8 million by 2040, and 94.7 million by 2060. Furthermore, the number of people suffering from varicose veins in the U.S. is increasing year on year.

By End-use Analysis

On the basis of end-use, the market is segmented into hospitals, specialty clinics, home healthcare, and others. The hospitals segment held the largest revenue share of more than 45.00% in 2021.

The growth of this segment can be attributed to the upsurge in surgical procedures globally because of a sedentary lifestyle, and the rising volume of bariatric surgeries, which require the use of wound care products to contain surgical site infections.

All these factors are expected to drive the segment during the forecast period. Moreover, a rise in hospital admissions due to surgeries is also anticipated to propel the segment’s growth. After surgery, patients generally require wound care products to heal from surgical site wounds.

These devices are lightweight, portable, canister-free, and are easy to use. In addition, the cost-effectiveness of such therapy of treating wounds also encourages patients to adopt homecare settings over hospital stays.

The presence of several organizations offering home care services in North America and Europe is promoting the home care services market. Thus, with the rising geriatric population and number of nursing home care, the segment is anticipated to witness significant growth during the forecast period.

By Regional Analysis

North America dominated with a revenue share of more than 45% in 2021 and is expected to witness considerable growth over the forecast period. The presence of a large population base and rising patient pool in countries, such as the U.S., are the major factors driving the regional market.

Asia Pacific is estimated to be the fastest-growing regional market over the forecast period. This can be attributed to the changing lifestyles leading to a rise in the incidence of chronic diseases.

Key Players

• Smith & Nephew
• Mölnlycke Health Care AB
• ConvaTec Group PLC
• Ethicon (Johnson & Johnson)
• Baxter International
• URGO Medical
• Coloplast Corp.
• Medtronic
• 3M
• Derma Sciences Inc. (Integra LifeSciences)

Market Segmentation

• By Product
  • Advanced Wound Dressing
  • Surgical Wound Care
  • Traditional Wound Care
  • Wound Therapy Device
• By Active Wound Care
  • Biomaterials
  • Skin-substitutes
• By Application
  • Chronic Wounds
  • Acute Wounds
• By End-use
  • Hospitals
  • Specialty Clinics
  • Home Healthcare
  • Others
• Regional
  • North America
    • U.S.
    • Canada
  •  Europe
    • Germany
    • U.K.
    • France
    • Italy
    • The Netherlands
    • Spain
    • Sweden
  • Asia Pacific
    • Japan
    • China
    • India
    • South Korea
    • Taiwan
    • Australia
    • Vietnam
    • Thailand
    • Malaysia
    • Singapore
    • Indonesia
    • Philippines
  • Latin America
    • Brazil
    • Argentina
    • Mexico
  • Middle East & Africa
    • South Africa
    • Turkey
    • Egypt
    • Iran
    • Israel
    • Saudi Arabia
    • UAE

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