Wound Care Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Wound Care Market
The wound care market size was valued at USD 19.63 billion in 2023, and the market is now projected to grow from USD 20.86 billion in 2024 to USD 37.08 billion by 2032, exhibiting a CAGR of 7.5% during the forecast period of 2024-2032.
The pandemic had an adverse effect on the wound care market growth. In 2020, few marketplace players suggested sales declines as a result of the pandemic. During the primary part of the year, essential nations redirected healthcare resources, inclusive of beds, nurses, and workers, to treat COVID-19 sufferers. Wound treatment became therefore exempted from the list of necessary procedures. However, the marketplace is returning to normality because of reduced lockout regulations and increasing medical doctor visits. In 2021, the marketplace recovered from the COVID-19 pandemic, leading to increasing demand for wound care products and revenue boom amongst producers.
Market players like B. Braun Melsungen AG and ConvaTec Group PLC are likely to growth their investment in R&D and introduce sophisticated merchandise, using call for for these goods, particularly in developed international locations. In October 2021, Healthium Medtech Limited brought ""TRUSHIELD NXT"", a surgical wound dressing with infection prevention and a 3D hydrocellular substrate for powerful wound safety.
Healthcare experts are an increasing number of the usage of bioactive treatments, which include skin replacements and boom hormones, to treat superior wounds. Several corporations are targeted on allograft, xenograft, nanofiber, dermal replacements, and cell-based treatments to fulfill the growing need for higher wound control amongst sufferers.
Comprehensive Analysis of Wound Care Market
The market is segmented into advanced dressings, traditional wound care products, negative pressure wound therapy, and bioactives. Advanced dressings dominate because of extended demand and advantages. Chronic wounds are ruled through the developing wide variety of diabetic foot ulcers and strain ulcers. The market is split into hospitals, clinics, and homecare settings. Hospitals are developing because of multispecialty departments, whilst homecare settings are predicted to see higher CAGR due to persistent wound occurrence and affected person shift in the direction of homecare remedies. Clinics also are expected to grow because of elevated funding and lengthy-time period care centers.
The North America region lead the wound care market share by benefitting a market size of USD 7.49 billion in 2023 because the area's marketplace dominance is attributed to essential gamers, a massive affected person populace with chronic and acute wounds, and extra healthcare expenditure per capita. According to 3M statistics, the remedy of diabetic foot ulcers in Canada charges over USD 547 million in line with year.
The worldwide wound care industry is semi-consolidated, with a few established firms dominating advanced wound dressings. In 2023, 3M, Smith & Nephew, ConvaTec Group PLC, and Mölnlycke Health Care AB held the worldwide market leadership position. Leading players retain their market dominance by introducing breakthrough wound treatment solutions, launching new products, and expanding sales channels.
In September 2023, MiMedx Group, Inc. announced EPIEFFECT, an enhanced wound care solution, to broaden its product line.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2019-2032
Base Year 2023
Estimated Year 2024
Forecast Period 2024-2032
Historical Period 2019-2022
Growth Rate CAGR of 7.5% from 2024-2032
Unit Value (USD billion)
Segmentation
By Type
- Advanced Wound Dressings
Antimicrobial Dressings
Alginate Dressings
Foam Dressings
Hydrocolloid Dressings
Others
- Traditional Wound Care Products
- Negative Pressure Wound Therapy
- Bioactives
Biological Skin Equivalents
Growth Factors
Others
- Others
By Application
- Chronic Wounds
Diabetic Foot Ulcers
Pressure Ulcers
Venous Leg Ulcers Others
- Acute Wounds
Surgical Wounds
Burns
By End User
- Hospitals
- Clinics
- Homecare Settings
- Others
By Region
- North America (By Type, By Application, By End User, By Country)
U.S. (By Application)
Canada (By Application)
- Europe (By Type, By Application, By End User, By Country/Sub-Region)
Germany (By Application)
U.K. (By Application)
France (By Application)
Italy (By Application)
Spain (By Application)
Scandinavia (By Application)
Rest of Europe (By Application)
- Asia Pacific (By Type, By Application, By End User, By Country/Sub-Region)
China (By Application)
Japan (By Application)
India (By Application)
Australia (By Application)
Southeast Asia (By Application)
Rest of Asia Pacific (By Application)
- Latin America (By Type, By Application, By End User, By Country/Sub-Region)
Brazil (By Application)
Mexico (By Application)
Rest of Latin America (By Application)
- Middle East & Africa (By Type, By Application, By End User, By Country/Sub-Region)
GCC (By Application)
South Africa (By Application)
Rest of Middle East & Africa (By Application)