The global wound care market is expected to experience a significant growth rate over the coming years. This is due to rising incidences of chronic and acute wounds, increasing geriatric population, technological advancements, and rising demand for advanced wound care products. Wound care products such as advanced wound dressings, wound closure devices, and wound healing products are in high demand, due to their ability to heal wounds faster and reduce the risk of infection.
According to the new market research report “The report “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) & Region – Global Forecast to 2027”, is projected to reach USD 27.2 billion by 2027 from USD 20.8 billion in 2022, at a CAGR of 5.4%.
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The market growth is largely driven by factors such as the growing prevalence of chronic conditions resulting in chronic, surgical, acute, and traumatic wounds; increasing spending on chronic wounds; rising use of regenerative medicine in wound management; and technological advancements. The high growth potential of emerging economies and the growing number of acquisitions by key players have also opened an array of opportunities for the growth of the wound care market.
Increease in prevalence of HAIs and other health conditions such as diabetes that delays wound healing, increased number of surgical procedures which also includes cosmetics and other planned surgeries. Emerging economies such as India and Japan are providing lucrative opportunities for the players operating in the wound care market.
The advanced wound care products segment accounted for the largest share of the wound care market, by product segment, in 2021
Based on products, the wound care market is segmented into advanced wound care products, surgical wound care products and traditional wound care products. The advanced wound care products segment accounted for the largest share of the wound care market, mainly due to deteriorating health conditions that directly affects wound healing like diabetes.
Diabetic foot ulcers segment to register the highest growth rate during the forecast period
The wound care market is segmented into surgical & traumatic wounds, diabetic foot ulcers, pressure ulcers, venous leg ulcers and burns & other wounds based on wound type. In 2021, the surgical & traumatic segment accounted for the largest share of the wound care market. The large share of this segment can mainly be attributed to the increase in obese populations, detereiorated health conditions will drive the market.
The hospitals and clinics accounted for the largest share of the wound care market, by end users segment, in 2021
Based on end users, the wound care market has been segmented into hospitals and clinics, long-term patient care, home care settings and other end users. In 2021, the hospitals and clinics segment accounted for the largest share of the wound care market, mainly due to the increase in surgical procedures and other traumatic injuries. Planned surgical procedures and burn injuries are major drivers.
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North America is the largest regional market for wound care market
The global wound care market is segmented into five major regions—North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. North America accounted for the largest regional market for wound care market in 2021. The large share of North America in this market can be attributed to the rising focus on development of wound care products and focus on improving health conditions and lifestyle and increased focus on better healthcare.
Key Market Players
The major players operating in this market are 3M Company (US), Smith & Nephew PLC (UK), Cardinal Health (US), Medtronic PLC (Ireland), B. Braun Melsungen AG (Germany), Baxter International, Inc. (US), Mölnlycke Health Care AB (Sweden), Convatec Group (UK), Paul Hartmann AG (Germany), Coloplast A/S (Denmark), Organogenesis Holdings Inc. (US), MiMedx Group, Inc. (US), Integra Life Sciences Holdings Corporation (US), Bioventus (US), Zimmer Biomet Holdings, Inc. (US), Ethicon, Inc. (US), DeRoyal Industries (US), Kerecis (Iceland), Acell (US), Lohmann & Rauscher GmbH & Co. KG (Germany), Medela Ag (Switzerland), Talley Group (UK), Welcare Industries SPA (Italy), Wuhan VSD Medical Science & Technology Co. Ltd. (China), Pensar Medical (US), Haromed BVBA (Belgium), DermaRite Industries LLC (US), Medline Industries, Inc. (US), Advancis Medical LLC (UK) and Mil Laboratories Pvt. Ltd. (India).
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