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HEALTHCARE & PHARMACEUTICAL

Chronic Wound Care Market Analysis by Type (Pressure Ulcers, Diabetic Ulcers, Venous Leg Ulcers, and Others); by Product (Wound Care Devices, Advanced Wound Dressings, Active Therapy, and Others); and by End-User (Hospitals, Wound Care Centers, Ambulatory Centers, Homecare Settings, and Others) – Global Supply & Demand Analysis & Opportunity Outlook 2023-2033

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Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

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IN THE NEWS

  • Smith & Nephew PLC has announced the efficiency of its GRAFIX Membrane which reduces diabetic foot ulcer recurrence by half as compared to other leading competitors.

  • Integra LifeSciences Corporation announced the positive clinical outcomes with its PriMatrix Dermal Repair Scaffold for the treatment of hard-to-heal diabetic foot ulcers (DFUs). This is the largest DFU RCT ever conducted. A per protocol analysis found that 60% of DFUs healed within 12 weeks when PriMatrix was used in conjunction with standard care (SOC), compared to 35% for DFUs that healed within 12 weeks when SOC was used.

Global Chronic Wound Care Market Size, Forecast, and Trend Highlights Over 2023 - 2033

Base Year

2022

Forecast Year

2023-2033

CAGR

~10%

Base Year Market Size (2022)

~ USD 10 Billion

Forecast Year Market Size (2033)

~ USD 20 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of Middle East and Africa)

 

The global chronic wound care market is estimated to garner a revenue of ~ USD 20 Billion by the end of 2033 by growing at a CAGR of ~10% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of ~ USD 10 Billion in the year 2022. The growth of the market is primarily attributed to the worldwide upsurge in chronic wound cases, owing to accidents, injuries, and fatalities. This rising wound cases is expected to increase the utilization rate of chronic wound care which in turn, is projected to expand the market size. For instance, more than 2% to 4% population of developed nations suffer from chronic wounds.

chronic wound care market overview imageGet more information on this report:Download Sample PDF

Wounds require a significant medical treatment as well as an effective wound care supplies. Also, increasing expenses on wound and patient care. It was observed in a clinical study that, P. aeruginosa and S. aureus are two of the bacteria that are most frequently found in infections of chronic wounds. They are typically identified together, and infections that are coupled are more harmful than infections caused by a single microbe. Furthermore, when P. aeruginosa and S. aureus are cultivated together in a wound model, they have relatively high antibiotic resistance.

Global Chronic Wound Care Market: Growth Drivers and Challenges

Growth Drivers

  • Global Upsurge in Diabetes - Diabetes mellitus, also known as diabetes, is a metabolic condition which initiates high blood sugar levels. If untreated, diabetes-related high blood sugar damages nerves, eyes, kidneys, and other organs. Diabetes is becoming more prevalent worldwide, resulting in open wounds that do not heal completely. According to the World Health Organization (WHO), there are 422 million diabetics worldwide, and diabetes is the leading cause of 1.5 million annual deaths.

  • Increase in Burn Injuries – For instance, every year, approximately 180 000 people die as a result of burns.

  • Escalating Ratio of Pressure Ulcers – For instance, the worldwide incidence of pressure ulcers has reached nearly 13%, with 9% occurrence of hospital-acquired pressure injury (HAPI).

  • Spike in Venous Leg Ulcers - It is estimated that venous leg ulcers affect nearly 1 to 5% of the elderly population in the United States and Europe.

  • Advancement in Dressing Material to Treat Chronic Wounds – It was observed in a research that, in managing outpatients with diabetic foot ulcers, silver-releasing foam dressings were found to be more successful than silver-containing cream, especially in the beginning stages of wound therapy. Moreover, it has been discovered that a thiolated biodegradable bandage loaded with ZnO nanoparticles improves tissue regeneration and speeds healing.

 Challenges

  • High Cost of Treatment of Chronic Wound – Chronic wounds require utmost attention requiring treatment with high-quality products. As a result, the treatment of chronic wounds is ultimately soared up. This trend is expected to pose as a challenge to the market growth.

  • Inadequate Compensation Policies in Emerging Nations

  • Rising Concern in Patients for Urgent Treatments

The global chronic wound care market is segmented and analyzed for demand and supply by end-user into hospitals, wound care centers, ambulatory centers, homecare settings, and others. Out of these, the hospitals segment is anticipated to significantly grow over the forecast period owing to the increasing patients flow in hospitals dealing with chronic wounds and also the high number of hospitals present in the world. For instance, it is estimated that every year around 4.2 million patients in Europe suffer from chronic wounds, needing 25%-50% of intense hospital beds.

Global Chronic Wound Care Market Regional Synopsis

The North America chronic wound care market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2033, backed by the rising patient pool suffering from chronic wounds, increasing geriatric population, increasing prevalence of diabetic foot ulcers, growing healthcare expenditure, and the existence of adequate reimbursement policies in the region. For instance, in 2019, approximately 8 to 13 million people were affected by chronic wounds in the United States.

chronic wound care market share image

Market Segmentation

Our in-depth analysis of the global chronic wound care market includes the following segments:

         By Type

  • Pressure Ulcers
  • Diabetic Ulcers
  • Venous Leg Ulcers
  • Others

        By Product

  • Wound Care Devices
  • Advanced Wound Dressings
  • Active Therapy
  • Others

        By End-User

  • Hospitals
  • Wound Care Centers
  • Ambulatory Centers
  • Homecare Settings
  • Others

Top Featured Companies Dominating the Global Chronic Wound Care Market

  • Smith & Nephew PLC

    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • Mölnlycke Health Care AB
  • ConvaTec, Inc.
  • Integra LifeSciences Corporation
  • Coloplast A/S
  • Cardinal Health, Inc.
  • Tissue Regenix Ltd
  • B. Braun Melsungen AG
  • MIMEDX, Inc.
  • 3M

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