Wound Care Market Size, Share Global Analysis Report, 2023 – 2030

Industry Insights

[226+ Pages Report] According to the report published by Facts & Factors, the global wound care market size was valued at USD 20.6 billion in 2022 and is predicted to surpass USD 30 billion by the end of 2030. The market is expected to grow by a CAGR of 5.6% during the forecast period of 2023-2030. The research report includes industry trends, growth factors, pricing analysis, and restraints of the global wound care market. Furthermore, it also explores the geographical and competitive landscape of the wound care market industry.

Market Overview

Wound care refers to treating acute and chronic wounds like burns, ulcers, and other post-operative wounds. Some major products used in these treatments include hydrocolloids, alginates, hydrogel, film & foam dressing, etc. These treatments help keep the injury wet and encourage the body cells to heal fast without disturbing it. They keep the temperature constant and permit the proper supply of oxygen, thereby protecting the injured site from infections and lowering the pain.

Key Insights

• As per the analysis shared by our research analyst, the global wound care market is estimated to grow annually at a CAGR of around 5.6% over the forecast period (2023-2030).
• In terms of revenue, the global market size was valued at around USD 20.6 billion in 2022 and is projected to reach USD 30 billion by 2030.
• The growing incidence of diabetes is likely to boost the wound care market growth.
• Based on the product type, the large enterprise segment accounts for the largest share of the global market.
• Based on the application, the chronic wound segment dominates the global market.
• Based on end-users, the hospital segment holds the largest share of the global market.
• Based on the mode of purchase, the prescribed segment sweeps the largest segment of the global market.
• Based on distribution channel, the institutional sales segment dominates the global market
• Based on region, Asia Pacific is expected to dominate the market during the forecast period.

Growth Drivers

• The growing incidence of diabetes is likely to fuel the growth of the global market.

The surging cases of diabetes all across the globe are likely to boost the growth of the global wound care market during the forecast period. Diabetes poses a risk of a wide range of complications, like impaired wound healing, decreased immune system, and poor blood circulation. As a result, diabetic people take too long to heal wounds and injuries. However, it increases the demand for wound care services and products. Wound care products include wound closures, wound cleansers, dressings, etc.

However, healthcare providers are boosting research and development activities to come up with advanced wound care technology like tissue engine engineering, hyperbaric oxygen therapy, negative pressure wound therapy, etc., to accelerate the healing process among diabetic people. However, such a landscape is likely to support the positive growth tragedy of the global wound care market.

Restraints

• High cost of wound care products is likely to impede the growth of the global market.

The high cost of the wound care product is expected to be a significant growth restraint in the global wound care market during the forecast period. The high cost of these wound care products is due to growing labor and raw material costs. However, wound care products include antiseptics, bandages, dressings, etc.

Opportunities

• Growing demand for wound bioactive therapy is expected to create new opportunities in the global market.

Growth factors and skin substitutes are some effective bioactive therapy gaining popularity among people for healing chronic and late-stage wounds. Many wound care industry players are planning to focus on cell-based therapies, dermal substitutes, nanofiber, xenograft, and allograft therapies to cater to the growing demand and earn huge market profits. However, it is likely to create several lucrative growth opportunities in the global market.

Challenges

• Delayed diagnosis is one of the major challenges in the global market.

Chronic wounds like leg ulcers, pressure ulcers, and diabetic foot ulcers develop more seriously from mild to severe stages because of the patient’s ignorance and carelessness. However, the lack of awareness leads to delayed diagnosis and treatment. Delayed diagnosis incidences are considerably high in countries like Brazil, China, and India compared to developed regions. Severe and late-stage wounds like foot amputation are challenging to heal. Also, the restricted access to advanced healthcare infrastructure, particularly in developing countries, will further impede the growth of the global wound care market.

Segmentation Analysis

The global wound care industry can be segmented into product, application, end user, mode of purchase, distribution channel, and region.

By product outlook, the market can be segmented into four categories, namely, wound therapy devices, traditional wound care, surgical wound care, and advanced wound dressing. The wound therapy segment can further be bifurcated into pressure relief devices, electrical stimulation devices, oxygen & hyperbaric oxygen equipment, negative pressure wound therapy, and others. The traditional wound care segment can be further bifurcated into cleansing agents, sponges, gauzes, bandages, cotton, and medical tapes.

The surgical wound care segment can be further bifurcated into anti-infective dressing, tissue adhesive & sealants, and sutures & staples. The advanced wound care dressing segment can be further bifurcated into collagen, hydrogel, alginate, film, hydrocolloid, foam, and other advanced dressings. Among all, the advanced wound dressing segment dominates the global market in the product segment due to its high use in late-stage and chronic wound treatment. Additionally, the increasing number of chronic wounds, including diabetic foot ulcers, is also likely to propel the growth of the segment.

By application outlook, the market can be segmented into two categories, namely, acute wounds and chronic wounds. The acute wounds segment can further be bifurcated into burns and surgical & traumatic wounds. The chronic wound segment can further be bifurcated into venous leg ulcers, pressure ulcers, diabetic foot ulcers, and other chronic wounds.

Among all, the chronic wound segment is expected to grow significantly during the forecast period. It held around 59.8% of the market share in 2022. The high prevalence of diabetic foot ulcers and other chronic wounds is likely to strengthen the growth of the segment in the global market.

By end user outlook, the wound care industry can be segmented into research & manufacturing, home care, outpatient facilities, and hospitals. The hospital segment is the largest share of the global market due to the rise in surgical processes owing to the changing lifestyle of the people.

By mode of purchase, the market can be segmented into non-prescribed and prescribed segments. The prescribed segment is likely to dominate the global market due to the surge in chronic wound incidence globally.

By distribution channel, the wound care industry can be segmented into two categories, namely, retail sales and institutional sales. The institutional sales segment is likely to grow significantly during the forecast period owing to the growing interest of manufacturers to directly sell the products to healthcare providers like patients, clinics, and hospitals.

Recent Developments:

• Smith & Nephew, in December 2022, successfully acquired a reputed biotechnology company dealing in regenerative medicine products for wound care, Osiris Therapeutics. The acquisition deal was worth around $660 million. Moreover, it is expected to expand Smith & Nephew’s portfolio in the wound care market.
• Acelity L.P. Inc., in April 2023, acquired Systagenix Wound Management Ltd. The acquired company is the leading provider of advanced wound care products. The acquisition deal is worth around $485 million and is likely to diversify Acelity’s wound care product portfolio.

Report Scope

Regional Analysis

• North America led the global market in 2022 with a considerable market share

North America holds the largest share of the global wound care market. The region held around 45.4% of the total wound care market share in 2022. The high population, along with the surging patient pool in regions like the US, is one of the major factors driving the growth of the regional market. Also, the rising geriatric population in the region is likely to propel the growth of the global market further because such a patient pool is at a higher risk of chronic wounds and requires advanced wound care treatment.

Asia Pacific is predicted to see huge growth in the global wound care market during the forecast period due to the changing lifestyle, growing disposable income of people, and increasing population in the region.

Competitive Analysis

• B. Braun Melsungen AG 
• Advancis Medical 
• Essity AB 
• Medline Industries 
• Derma Sciences Inc. 
• 3M 
• Medtronic 
• Coloplast Corp. 
• URGO Medical 
• Baxter International 
• Ethicon 
• ConvaTec Group PLC 
• Mölnlycke Health Care AB 
• Smith & Nephew 
• Adynxx Inc.

The global wound care market is segmented as follows:

By Product Segment Analysis

• Wound Therapy Devices
• Traditional Wound Care
• Surgical Wound Care
• Advanced Wound Dressing

By Application Segment Analysis

• Acute Wounds
• Chronic Wounds

By End-Use Segment Analysis

• Research & Manufacturing
• Home Care
• Outpatient Facilities
• Hospitals

By Mode Of Purchase Segment Analysis

• Non-prescribed
• Prescribed

By Distribution Channel Segment Analysis

• Retail Sales
• Institutional Sales

By Regional Segment Analysis

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Nordic Countries
    • Denmark
    • Sweden
    • Norway
  • Benelux Union
    • Belgium
    • The Netherlands
    • Luxembourg
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Southeast Asia
    • Indonesia
    • Thailand
    • Malaysia
    • Singapore
    • Rest of Southeast Asia
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • Egypt
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America