Wound Care Market Analysis

Wound Care Market Overview

Wound Care Market size was valued at USD 22.23 billion in 2023. The Wound Care Market industry is projected to grow from USD 23.69 billion in 2024 to USD 41.56 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.45% during the forecast period (2024 - 2032). The factors that are driving the growth of the global market are increasing prevalence of acute and chronic wounds, and growing geriatric population, and reimbursements and product launches.

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

April 2024, Braun SE has created a new line of advanced wound dressings with improved moisture management and antibacterial qualities. This idea promises to enhance patient outcomes and speed up the healing process.

February 2024, 3M introduced the Tegaderm™ Flex Hydrocolloid Dressing, which offers flexible and comfortable wound treatment. This dressing stands out for its great absorbency and skin-friendly stickiness.

Wound Care Market Trends

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  Increasing Prevalence of Acute and Chronic Wounds 

  
  

The Wound Care Market is experiencing a substantial upsurge, primarily driven by the escalating prevalence of acute and chronic wounds. This surge in wound-related conditions can be attributed to a combination of factors that are reshaping the healthcare landscape. Rising incidence of chronic diseases, such as diabetes, obesity, and cardiovascular ailments. These conditions frequently lead to the development of chronic wounds like diabetic foot ulcers and venous leg ulcers. According to the World Health Organisation (WHO), diabetes and kidney disease caused an estimated 2 million deaths in 2019. Moreover, the surge in surgical procedures, spanning elective surgeries to life-saving interventions, has necessitated a greater focus on post-operative wound healing. According to data from the International Society of Aesthetic Plastic Surgery (ISAPS), overall body and extremity procedures increased by 25.3% in 2022 compared to the previous year. This has generated a continuous demand for wound care products and solutions, as the surgical patient population expands. Furthermore, the market for wound care may experience rapid growth owing to a rising number of road accidents across the globe.

Therefore, the increasing incidence of chronic wounds and surgical site infections is a major public health concern, and rising awareness about the benefits of Caring for Wounds and technological advancements are fostering market growth.

Wound Care Market Segment Insights

Wound Healing Type Insights

On the basis of the type, the wound care market has been segmented into classic wound care, advanced Caring for Wounds, & skin prevention. Advanced wound management held the largest market share in 2022 and is anticipated to register the highest CAGR from 2022 to 2032. Advanced wound management provides advantages such as treating chronic and non-healing wounds. Thus, an increasing number of chronic wounds, such as diabetic foot ulcers, is expected to drive the wound care market growth over the projection period.

FIGURE 2: WOUND CARE MARKET, BY TYPE, 2023 & 2032 (USD BILLION)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Wound Care Application Insights

Based on application, the wound care market is segmented into chronic wounds and acute wounds. Chronic wound held the largest market in 2022 and acute wound anticipated to register the highest CAGR during the forecast period. Chronic wounds represent a major medical and financial burden and are associated with significant morbidity and mortality rates. Patients are often hospitalized due to infection or other ulcer-related complications, which significantly increases the demand for Caring for Wounds products. Type 2 diabetes represents around 85-95% of all diabetes in the developed countries and is expected to account for an even higher percentage in developing countries.

Wound Healing End User Insights

Based on end users, the wound care market is segmented into hospitals, specialty clinics, and home healthcare. Hospital held the largest market share in 2022 and is anticipated to register the highest CAGR during the forecast period. A majority of the people in the developing regions prefer hospitals as advanced treatment for any wound injuries. The increasing prevalence of diabetes and the number of surgeries has further driven the growth of the hospitals market Nearly 2.5% of all Americans experience a decline in quality of life as a result of chronic wounds, and managing wounds has a significant financial impact on healthcare.

Moreover, increasing patients with diabetes, diabetic foot ulcers, chronic wounds, post-operative infections, and dependence on hospitals for the treatment is expected to account for a significant share of the hospitals segment in the forecast period.

Wound Healing Regional Insights

By region, the study segments the market into North America, Europe, Asia-Pacific, and the Rest of the World. North America accounted for the largest market share of over 36.60% in 2022 owing to the increasing patient pool with acute or chronic wounds in the region. According to Canada.ca, Diabetes affects over 3 million Canadians or 8.9% of the population, and the prevalence has risen at an annual rate of 3.3% after adjusting for the ageing population. Furthermore, 6.1% of Canadian adults have prediabetes, which puts them at a high risk of developing type 2 diabetes.

Further, the major countries studied are: The US, Canada, Brazil, Germany, France, the UK, Italy, Spain, China, India, Japan, South Korea, and Australia.

FIGURE 3: WOUND CARE MARKET, BY REGION, 2023 & 2032 (USD BILLION)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe wound healing market shows significant growth during the forecast year, i.e., 2022–2023,

owing to rising government initiatives. According to the National Institute of Health, it is estimated that approximately 15-20 million people in Europe have chronic wounds. According to the United Nations Department of Economic and Social Affairs report titled 'World Population Ageing 2020 Highlights,' there will be 727 million people aged 65 and up in the world in 2020. It is expected to more than double by 2050, reaching nearly 1.5 billion people. Furthermore, the Germany wound care market held the largest market share in 2022 and Italy wound healing market is the fastest growing market in the Europe region.

The Asia-Pacific wound healing market is the fastest-growing region during the forecast period owing to the huge patient pool suffering from chronic wounds in Asian countries. Furthermore, rising diabetes cases, increasing per capita income, and government initiatives to enhance the quality of healthcare. China, India, and Australia have a lucrative market for Wound healing due to the growing older population. According to the report Impact of Population Aging on Asia's Future Growth published by the Asian Development Bank, increasing life expectancies support the growing geriatric population in the region. Moreover, China Wound Care market held the largest market share in 2022 and India Wound Care market is the fastest growing market in the Asia-Pacific region.

Wound Care Key Market Players & Competitive Insights

The Wound Care Market is characterized by the presence of many global, regional, and local players and factors such as lowering the cost of the products, improving infrastructure and increasing adoption of Wound healing driving the growth of the Wound Care Market. To expand their reach and optimize their operational costs, the major players focus on forming strategic and in order to gain a substantial market share.

3M is a diversified global manufacturer, technology innovator, and marketer of a wide variety of products and services across several industries. The company operates through five business segments, including safety and industrial, transportation and electronics, health care, consumer, and corporate. Its healthcare segment offers medical tapes, sterilization products, skincare, masks, bandages, disinfectants, protective apparel, and oral care products to hospitals, clinics, and other medical institutes. Additionally, the company provides a range of services, including medical, dental, consumer health, food safety, and health information systems. The company offers products through several famous brand names such as Post-it, Scotch, Scotch-Brite, Command, Filtrete, Nexcare, and ScotchBlue. Moreover, it produces more than 55,000 products across the globe. The company has operations in 70 countries across all regions, namely North America, Europe, Asia-Pacific, and the Middle East and Africa, and its products are sold in 200 countries. It has an extensive distribution network in North America, Europe, Asia-Pacific, and Rest of the World.

Key Companies in the Wound Care Market includes.

• 3M (US)


• 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)


• Smith+Nephew (UK)

Wound Care Industry Developments

April 2023: 3M Company received Food and Drug Administration (FDA) approval for the Veraflo brand therapy system and dressing that are used to treat wound debris. This approval, followed by the launch, has expanded the 3M company's wound healing product portfolio.

Wound Care Market Segmentation

Wound Care Type Outlook

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  Exudate Management
  

  
  
  • Foam Dressings
  
  
  • Alginate Dressings
  
  
  • Film Dressings
  
  
  • Hydrogels
  
  
  • Collagen Dressings
  
  
  • Hydrocolloids
  
  
  • Superabsorbants
  
  
  • Contact Layers
  
  
  • Others
  
  

  
  
  
  


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  Infection Management
  

  
  
  • Non-Silver Dressings
  
  
  • Silver Dressings
  
  

  
  
  
  


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  Therapy Devices
  

  
  
  • NPWT
  
  
  • Electrical Stimulation
  
  
  • HBOT (Hyperbaric Blood Oxygen Therapy)
  
  

  
  
  
  


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  Biologics
  

  
  
  • Topical Agents
  
  
  • Skin Substitutes
  
  
  • Growth Factor
  
  

  
  
  
  


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  Debridement
  

  
  
  • Ultrasound Debridement
  
  
  • Debridement Pads, Swabs, Cloths
  
  

  
  
  
  


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  Skin Prevention
  
  
  
  
  • 
    
    Barrier Cream & Barrier Swabs
    
    
  
  
  • 
    
    Emollients
    
    
  
  
  
  

Wound Care Application Outlook

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  Surgical
  
  


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  Burns
  
  


• 
  
  Trauma
  
  

Wound Care End User Outlook

• Hospitals


• Specialty Clinics / Ambulatory Market


• Home Healthcare (OTC)

Wound Care Regional Outlook

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  Middle East
  
  


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  Africa
  
  


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  Latin America