Wound Care Market: Global Size, Share, Trends, Growth and Forecast Outlook 2022-2032

Wound Care Market: Overview and Definition

The global wound care market size was valued at USD 20.5 billion in 2021 and is projected to reach USD 34.5 billion by 2032, registering a CAGR of 4.5% during the forecast period 2022-2032. The wound care market includes products and services used to treat various types of wounds, including acute and chronic wounds, surgical wounds, and traumatic wounds. The market includes products such as dressings, bandages, sutures, and sealants, as well as devices such as negative pressure wound therapy systems and hyperbaric oxygen therapy systems. The market is driven by factors such as the rising prevalence of chronic diseases, an aging population, and the increasing incidence of surgical procedures.

The global wound care market is expected to be driven by the rising prevalence of chronic diseases around the world, the increasing number of surgical procedures, and advancements in wound care devices.

The COVID-19 epidemic harmed the distribution and sales of wound care products globally. Since, the epidemic compelled the suspension of all public and private transportation, the number of people needing active medical attention has significantly decreased. The market is gradually picking up speed with a notable growth rate in the post-pandemic era.

Wound Care Market: Key Drivers

The wound care market is driven by various factors, including:

Rising incidence of chronic diseases: Chronic diseases such as diabetes, obesity, and cardiovascular diseases increase the risk of developing chronic wounds, which require advanced wound care products and services for healing.

Growing geriatric population: The aging population is more susceptible to chronic wounds and other age-related conditions, leading to an increase in demand for wound care products and services.

Increasing number of surgeries: As the number of surgical procedures performed worldwide continues to rise, so does the demand for wound care products and services to manage surgical wounds.

Technological advancements: The wound care market is continually evolving, with the development of advanced wound care products and technologies, such as negative pressure wound therapy systems and bioactive wound dressings, driving market growth.

Rising awareness about wound care: The importance of proper wound care is increasingly recognized, leading to greater awareness and demand for wound care products and services.

Wound Care Market: Challenges

The wound care market faces various challenges, including:

High cost of advanced wound care products and services: Advanced wound care products and services can be costly, which may limit their accessibility and affordability for patients in certain regions or with lower income.

Reimbursement issues: In some countries, reimbursement for wound care products and services may be limited or not covered by insurance, leading to financial burdens for patients and healthcare providers.

Lack of standardization: There is a lack of standardization in wound care practices and protocols, which can lead to inconsistent treatment and outcomes.

Risk of infection: Wounds are susceptible to infection, which can delay healing and increase healthcare costs. Proper infection prevention and control measures must be taken to manage this risk.

Lack of healthcare infrastructure in certain regions: In some regions, there may be limited healthcare infrastructure, which can limit the availability of wound care products and services.

Wound Care Market: Segmentation

On the basis of product, the market is segmented into advanced wound care products, traditional wound care products, surgical wound care products, negative pressure wound therapy, and bioactives. The advanced wound care products segment is expected to dominate the market in the forecast period of 2022-2032. 

On the basis of wound type, the market is segmented into burns and surgical & open wounds, pressure ulcers, diabetic foot ulcers, venous leg ulcers, and traumatic wounds. The diabetic foot ulcers segment is expected to experience the fastest CAGR during the forecast period of 2022-2032.

On the basis of application, the market is bifurcated into chronic wounds and acute wounds. The chronic wounds segment is expected to grow at the fastest CAGR in the forecast period of 2022-2032. 

On the basis of end-use, the market is segmented into hospitals, ambulatory surgery centers, home care settings, and others. In 2021, hospitals and clinics remained the largest segment of the wound care market. The increase use of technologically advanced wound care products drove the growth of this segment.

Wound Care Market: Regional Synopsis

The wound care market is segmented into several regions, including North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.

North America is the largest market for wound care products and services due to the high prevalence of chronic diseases and a large aging population. The presence of major market players, advanced healthcare infrastructure, and favorable reimbursement policies also contribute to market growth in this region.

Europe is also a significant market for wound care, driven by the aging population, high incidence of chronic diseases, and increasing healthcare spending. The market in this region is highly regulated, with stringent quality standards and guidelines.

The Asia-Pacific region is expected to be the fastest-growing market for wound care products and services, driven by the increasing incidence of chronic wounds and surgeries, a large patient population, and growing healthcare infrastructure. The market in this region is also highly competitive, with the presence of several local and global players.

Latin America and the Middle East & Africa have a smaller market share but are expected to show growth in the coming years due to the increasing focus on healthcare infrastructure development, rising incidence of chronic wounds, and increasing awareness about wound care.

Wound Care Market: Key Players

• ACell
• Advancis Medical
• Applied Biologics
• B. Braun
• Baxter International
• Bioventus
• Cardinal Health
• Coloplast A/S
• Convatec Group
• Covalon Technologies Ltd
• DermaRite Industries LLC
• DeRoyal Industries
• Ethicon, Inc
• Haromed Ltd
• 3M Company

Wound Care Market: Recent Developments

The wound care market has seen several recent developments, including:

Increasing use of advanced wound care products: Advanced wound care products such as bioactive dressings, negative pressure wound therapy, and hyperbaric oxygen therapy are becoming more widely adopted as they offer improved outcomes and faster healing times.

Development of new wound care products: Companies are investing in research and development to bring new and innovative wound care products to the market. For example, 3M recently launched a new range of silicone foam dressings that offer improved patient comfort and ease of use.

Expansion of wound care services: There is a growing trend towards providing wound care services in non-traditional settings, such as at home or in long-term care facilities. This is driven by the need to reduce healthcare costs and improve patient outcomes.

Integration of digital health technologies: Companies are integrating digital health technologies such as telehealth and remote monitoring into their wound care products and services to improve patient outcomes and reduce healthcare costs.

Strategic partnerships and collaborations: Companies are forming strategic partnerships and collaborations to expand their product portfolios, improve market access, and share expertise. For example, Smith & Nephew recently announced a collaboration with the University of Hull to develop a new range of wound care products.