Wound Care Market by Product (Dressings (Foam, Hydrocolloid, Collagen), Devices (NPWT, Debridement), Biological Skin Substitutes, Sutures, Staplers), Wounds (Traumatic, Surgical, Burns), End User (Hospitals, Clinics), and Region - Global Forecast to 2028

Wound Care Market by Product (Dressings (Foam, Hydrocolloid, Collagen), Devices (NPWT, Debridement), Biological Skin Substitutes, Sutures, Staplers), Wounds (Traumatic, Surgical, Burns), End User (Hospitals, Clinics), and Region - Global Forecast to 2028

The wound care market is anticipated to achieve a valuation of USD 28.6 billion by 2028, compared to its 2023 value of USD 21.5 billion, at a CAGR of 5.9% during the forecast period. This growth is propelled by several factors, including the rise in traumatic injuries, an increase in surgical wounds, and augmented spending on traumatic wound management. However, challenges related to wound care product validation and a shortage of skilled professionals pose as significant hurdles in the market's growth trajectory.

“The advanced wound care products segment accounted for the highest growth rate in the wound care market, by product, during the forecast period.”

The wound care market is segmented into advanced wound care products, traditional wound care products and surgical wound care products. In 2022, the advanced wound care products segment accounted for the highest growth rate in the wound care market. The growth can be primarily attributed to the substantial increase in the incidence of traumatic and surgical wounds, significantly driving the demand for advanced wound care solutions within this segment.

“The chronic wound segment accounted for the highest growth rate in the wound care market, by wound type, during the forecast period.”

The wound care market is segmented into chronic wounds and acute wounds based on wound type. In 2022, the chronic wound segment has accounted for the highest growth rate in the wound care market. This growth can be primarily attributed to the aging population, with a global increase in the aging population, there is a higher prevalence of chronic diseases such as diabetes, peripheral artery disease, and venous diseases, all of which can lead to chronic wounds and Growing healthcare expenditure and improving healthcare infrastructure in various regions enable better access to specialized wound care products, thus promoting the growth of the chronic wound care market.

“Home care settings segment accounted for the highest CAGR.”

Based on end users, the wound care market is segmented into hospitals and clinics, long-term patient care, home care settings and other end users. In 2022, the home care settings segment accounted for the highest CAGR. The integration of technology, telemedicine, specialized wound care products, and skilled healthcare professionals into home care settings is driving the advancement of wound care delivery at home.

“Asia Pacific: The fastest-growing region in wound care market.”

The wound care market is segmented into North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa segments, foresees the Asia Pacific region achieving the most significant CAGR in the forecasted period. The growth is propelled by a heightened emphasis on reducing surgical wounds and an increased focus on effectively managing traumatic wounds within this region.

The primary interviews conducted for this report can be categorized as follows:

By Company Type: Tier 1 - 40%, Tier 2 - 30%, and Tier 3 - 30%

By Designation: C-level - 27%, D-level - 18%, and Others - 55%

By Region: North America - 51%, Europe - 21%, Asia Pacific - 18%, Latin America – 6% , and the Middle East & Africa – 4%

Lists of Companies Profiled in the Report:

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)

Mil Laboratories Pvt. Ltd. (India).

Research Coverage:

This research report categorizes the wound care market by products, wound type, end user and region. The scope of the report covers detailed information regarding the major factors, such as drivers, restraints, challenges, and opportunities, influencing the growth of the wound care market. A detailed analysis of the key industry players has been done to provide insights into their business overview, solutions, key strategies; contracts, partnerships, agreements, new product launches, mergers and acquisitions, and recent developments associated with the wound care market. Competitive analysis of upcoming startups in the wound care market ecosystem is covered in this report.

Key Benefits of Buying the Report:

The report will help market leaders/new entrants by providing them with the closest approximations of the revenue numbers for the overall wound care market and its subsegments. It will also help stakeholders better understand the competitive landscape and gain more insights to better position their business and make suitable go-to-market strategies. This report will enable stakeholders to understand the market's pulse and provide them with information on the key market drivers, restraints, challenges, and opportunities.

The report provides insights on the following pointers:

Analysis of key Drivers (Rise in the prevalence of diseases and conditions that would impact wound healing capabilities, technological advancements in wound care products), Restraint ( High cost associated with advanced wound care products, risks associated with the use of advanced wound care products), Opportunities (Growth opportunities in emerging countries), Challenges (Growing instances of product recalls by regulatory bodies, dearth of awareness) influencing the growth of the wound care market.

Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the wound care market.

Market Development: Comprehensive information about lucrative markets – the report analyses the wound care market across varied regions.

Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the wound care market.

Competitive Assessment: In-depth assessment of market ranking, growth strategies and product offerings of leading players like 3M Company (US), Smith & Nephew PLC (UK), Cardinal Health (US), and Medtronic PLC (Ireland), among others in the wound care market strategies.