Wound Care Management Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Wound Care Management Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Wound Care Management Market is poised to grow at a CAGR of 6.5% over the forecast period (2022-2027). The key factors propelling the wound management market include the growing demand for faster recovery of wounds, an increase in the number of surgeries, and the rising incidences of chronic diseases, such as diabetes.

The COVID-19 outbreak impacted the wound care management market and overall healthcare sector, as hospitals and healthcare services were reduced due to social distancing measures taken by governments worldwide. The COVID-19 pandemic affected the global economy and greatly impacted the functioning of general hospital care for non-COVID-19 patients in hospitals globally. According to the article 'Managing the Surge: Delayed Chronic Wound Care During COVID-19,' published by the American Journal of Managed Care in September 2021, a significant percentage of patients with chronic wounds delayed preventative and emergent wound care during the COVID-19 pandemic. Such delays impacted the growth of the market studied negatively. Another article presented by UpToDate Inc., updated in June 2022, titled “COVID-19: Issues related to wound care and telehealth management,” indicated that the delivery of wound care, which should be regarded as an essential medical service, shifted during the COVID-19 pandemic. During the pandemic, huge importance was placed on wound care to prevent serious wound complications by minimizing hospitalization and surgery rather than completing wound healing. The reduction in the available wound care management services during the COVID-19 pandemic impacted the market growth.

Furthermore, Diabetes is found to be the major wound-causing disease along with other chronic diseases. The incidence of chronic wounds, especially foot ulcers is increasing among the diabetic population. As per the International Diabetes Federation (IDF) report 2021, there were around 537 million people across the globe having diabetes. The same reports sugessts that the number of people with diabetes is increasing drastically every year which is contributing to the high incidence of Diabetic Ulcers. With rising ulcers, the demand for wound care management is expected to rise which will contribute to the market growth in coming years. Moreover, increasing geriatric population is also propelling the demand for wound care. For instance, as per Germany Federal Statistical Office 2020 report, there were about 83 million people in Germany of which, 16.2 million people were above 67 years of age and this number is projected to reach 21.4 million by the year 2040. As the number of the elderly population is expected to increase shortly who are more prone to chronic diseases like diabetes and this population is expected to experience diabetic foot ulcers shortly which is expected to show a positive impact on the market.​With increasing number of older population across major countries, need for wound management related to diabetes and other chronic conditions arises which is believed to propel the market growth.

Key Market TrendsDiabetic Foot Ulcer is Expected to Hold a Major Market Share

A diabetic foot ulcer commonly occurs on the sole of diabetic patients. According to the 2020 data published by the University of Michigan Health, ulcer usually affects around 15% of the diabetic population. Diabetic foot ulcers can cause hospitalization of about 6% of the affected diabetic patients. The large number of people affected by diabetes across the globe and the associated foot ulcers developed will increase the need for proper wound care management, which is expected to boost the growth of the wound care management market over the forecast period.

An article titled “Health economics of diabetic foot ulcer and recent trends to accelerate treatment,” published in the journal of Foot in February 2022, indicated that nearly 67% of leg amputations in the United States are associated with diabetes. Many cases of diabetic foot ulcers in the nation are likely to propel market growth. Several initiatives are being taken by the governments of major countries to tackle diabetic foot ulcers which are adding to the growth of the market. For instance, in July 2020, six research institutions from the North American region, funded by the National Institute of Health, launched the first-ever multicenter network to study diabetic foot ulcers, a common and burdensome complication of diabetes and the leading cause of lower-limb amputations. The Diabetic Foot Consortium (DFC) focuses on establishing the foundation for a clinical trial network to test how to improve diabetic wound healing and prevent amputations among the 27 million American adults with diabetes. The DFC is supported by the NIH’s National Institute of Diabetes and Digestive and Kidney Diseases (NIDDK).

Thus, owing to the abovementioned factors, the segment is expected to show significant growth over the forecast period.

The United States Holds Major Share in the Market Studied

The rise in the number of chronic diseases affecting many people in the United States and the associated wounds and ulcers are expected to fuel the growth of the United States wound care management market. Chronic wounds are described as those that do not heal within eight weeks, without any signs of healing. A chronic wound usually results from poor blood circulation, a weak immune system, or a diabetic condition. The rising cases of chronic wounds and the necessity to properly manage the pain and comorbidities associated with the wounds and ulcers are expected to propel the growth of the market over the forecast period.

According to the International Diabetes Federation Diabetes Atlas Tenth edition, in 2021, around 32.2 million people in the United States had diabetes, projected to grow to 36.3 million by 2045. The rising number of diabetic cases in the nation is expected to increase the number of diabetic ulcer cases and contribute to the market growth in the United States.

As per an article titled “Expect delays: poor connections between rural and urban health systems challenge multidisciplinary care for rural Americans with diabetic foot ulcers,” published in the journal of Foot and Ankle Research in June 2020, rural Americans with diabetic foot ulcers had a 50% risk of major amputation compared to their urban counterparts. The need for proper wound care management in the rural region of the United States is expected to add to the market's growth over the forecast period. Similarly, the United States has a large population affected by chronic diseases, which are the most common causes of chronic wounds​. A March 2021 article “Human Wound and Its Burden: Updated 2020 Compendium of Estimates,” published in the journal of Advances in Wound Care, indicated that chronic wounds impact the quality of life (QoL) of nearly 2.5% of the United States population and that the wound care management has an important economic impact on the United States healthcare sector.

Therefore, the rising number of people affected by chronic wounds, ulcers, and diabetic ulcers is expected to boost the growth of the United States wound care management market over the forecast period.

Competitive Landscape

The Wound Care Management Market is competitive and consists of several major players. The market players are committed to developing innovative healing solutions for customers and patients across the care continuum, generating proven clinical outcomes. The companies are also showing continuous growth and are developing new and differentiated products and services, which address the evolving healthcare needs among patients, providers, and consumers. Some of the companies which are currently dominating the market are 3M Company, Braun Melsungen AG, Cardinal Health, Inc., Coloplast A/S, Johnson and Johnson, ConvaTec Group PLC, Integra Lifesciences, Molnlycke Health Care, Medtronic PLC, Paul Hartmann AG, and Smith & Nephew.

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