Wound Care Market Research Report Data by Type (Classic Wound Care {Wound Cleanser, Wound Cleansing Sprays, Medical tapes & bandages}, Advanced Wound Care {Advanced Wound Dressings, Infection Management, Therapy Devices, Biologics, Debridement, Skin Prevention}), Application (Chronic Wound {Diabetic Foot Ulcers, Pressure Ulcers, Venous Leg Ulcers, Others}, Acute Wounds {Surgical, Burns, Trauma}), End User (Hospitals, Specialty Clinics / Ambulatory Market, Home Healthcare (OTC)), and by Region (North America, Europe, Asia-Pacific, and Rest Of The World- Industry Forecast to 2032
Market Synopsis In 2023, the wound care market was estimated to be worth USD 22.23 billion. According to projections, the Wound Care Market market will expand at a compound annual growth rate (CAGR) of 6.45% from USD 23.69 billion in 2024 to USD 41.56 billion by 2032. The global market is expanding due to factors such rising rates of both acute and chronic wounds, an aging population, product releases, and reimbursements. The market for wound care is rising significantly, mostly due to the rising incidence of both acute and chronic wounds. Numerous variables that are changing the healthcare environment are to blame for the rise in wound-related illnesses. increasing prevalence of long-term conditions like diabetes, obesity, and heart problems. Chronic lesions such as venous leg ulcers and diabetic foot ulcers are often the result of these disorders. The World Health Organization (WHO) estimates that diabetes and renal disease contributed to 2 million deaths in 2019. In addition, the increase in surgical operations—from non-life-saving procedures to elective surgeries—has made post-operative wound care more important. The International Society of Aesthetic Plastic Surgery (ISAPS) reports that in 2022, there was a 25.3% rise in total body and extremity procedures over the previous year. This has led to an ongoing need for wound care supplies and methods as the number of surgical patients rises. In addition, the market for wound treatment may expand quickly due to an increase in traffic accidents worldwide.
Insights on Market Segments The wound care market has been divided into three categories: skin prevention, advanced wound care, and traditional wound care. The wound care market is divided into two segments based on the kind of wound: acute wounds and chronic wounds.The wound care market is divided into three segments: home healthcare, specialty clinics, and hospitals, based on the end users.
Regional Perspectives The market is divided into four regions by the study: North America, Europe, Asia-Pacific, and the Rest of the World. A growing number of patients in the region are suffering from either acute or chronic wounds, which is why North America held the greatest market share in 2022—more than 36.60%. Over 3 million Canadians, or 8.9% of the population, suffer from diabetes, and after accounting for population aging, the prevalence has increased at a yearly rate of 3.3%, according to Canada.ca. In addition, 6.1% of adult Canadians have prediabetes, a condition that increases the risk of type 2 diabetes. due to an increase in government activities. The National Institutes of Health estimates that between 15 and 20 million people in Europe suffer from chronic wounds. As per the 'World Population Ageing 2020 Highlights' study published by the United Nations Department of Economic and Social Affairs, the global population of individuals 65 years of age and above is expected to reach 727 million by 2020. By 2050, it is predicted to have more than doubled to around 1.5 billion people. In addition, the wound care market in Italy is expanding at the quickest rate in the European Union, while the wound care market in Germany held the biggest market share in 2022. Due in large part to the large patient pool of Asian nations suffering from chronic wounds, the Asia-Pacific Wound Care market is expected to develop at the quickest rate over the projected period. In addition, there are more people with diabetes, a higher per capita income, and government programs aimed at improving healthcare quality. Because of their aging populations, China, India, and Australia have large markets for wound care products. The Asian Development Bank's report, Impact of Population Aging on Asia's Future Growth, states that rising life expectancies contribute to the region's aging population.
Principal Players Braun SE (Germany), Coloplast Group (Denmark), ETS Wound Care, LLC (US), Baxter (US), BD (US), Cardinal Health (US), Convatec Inc. (UK), Johnson & Johnson Services, Inc. (US), and Smith+Nephew (UK) are some of the major players in the wound care market.