Topical Wound Agents Market Size & Share, by Product Type (Creams, Gels, Powders, Lotions, Emulsions); Application {Acute Wound (Surgical & Traumatic Wound, Burns), Chronic Wound (Diabetic Foot Ulcer, Venous Leg Ulcer, Pressure Ulcer)}; End-user (Hospitals, Clinics); Distribution Channel (Hospital Pharmacies, Retail Pharmacies, E-Commerce) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2033

  • Report ID: 4569
  • Published Date: Feb 13, 2023
  • Report Format: PDF, PPT

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

Topical Wound Agents Market size is estimated to surpass USD 5 Billion by the end of 2033, growing at a CAGR of 9% during the forecast period, i.e., 2023-2033. In the year 2022, the industry size of topical wound agents was USD 2 Billion. The growth of the market is primarily attributed to the growing prevalence of chronic injuries as a result of road accidents, and cases of traumatic incidents across the globe. Topical wounds are very important to heal through topical wound agents by preventing discomfort around the wound surface such as dryness and odor for the patient’s comfort. According to the World Health Organization, every year, approximately 1.3 million individuals die in road accidents worldwide.

Topical wound agents are clinical preparations used to cure dermatological injuries. Also, numerous topical agents have been developed in the recent period to treat both acute and chronic wounds. These medications are primarily used to treat pain, swelling, and infection, as such wounds get a severe infection and take a long time to heal properly. Rising government initiatives and increased public awareness about wound infections are expected to fuel the growth of the global topical wound agent market over the forecast period. If particular wounds aren’t given medical attention at a right time, they can turn into a severe infection and cost one’s life. Thus, for diagnosis and treatment procedures, topical wound agents play an important role thus, expanding the market size in the next few years. The growth in expenditure to treat wounds and patient care along with huge investments made by key players to develop advanced products for wound management and the expanding healthcare industry are other factors that are estimated to create a positive outlook for generating massive revenue in the assessment period.


Topical-Wound-Agents-Market-scope
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Topical Wound Agents Sector: Growth Drivers and Challenges

Growth Drivers

  • Growing Prevalence of Chronic Wounds - Chronic wounds are those that do not heal in a typical, timely, and proper sequence, and requires proper care present in different topical agents form such as antimicrobial wound dressing. They are widespread across the globe and frequently mistreated by the population. Their improper treatment results in severe inflammation and swelling of skin tissue. Therefore, the rising prevalence of chronic wounds is leading up the demand for global topical wound agents for proper chronic wound care which subsequently is attributed to the increase in market size over the forecast period. It was observed in a recent report that approximately 7 million people worldwide are currently living with chronic wounds. This number is further expected to rise by more than 2% by the next decade.

  • Increasing Number of Diabetic Foot Ulcers - One of the most prevalent chronic conditions for people with poorly controlled diabetes mellitus is diabetic foot ulcers. Topical wound agents are highly used in diabetic ulcer treatment and provide comfort to patients. A recent report of 2020 estimated that in the United Nations, around 2 million Americans are diagnosed with diabetic foot ulcers every year. Also, it was calculated that diabetic foot ulcers cost the United States healthcare industry approximately USD 120 billion annually.

  • Surge in Deaths in Burns Cases - According to the World Health Organization (WHO), every year, an estimated 180,000 individuals die in the world as a consequence of burns, the majority of such incidences occur in the workplace and at home.

  • Escalation in Post-Surgical Wounds - During surgeries, usually patients suffer from surgical site infections and surgical bruises which are deeper and larger as compared to other wounds. These surgical wounds release exudates that require proper wound care management which brings the need for topical wound agents. Hence, an increase in the number of post-surgical wounds is projected to bring profitable growth opportunities for market expansion. The chances of a patient developing a surgical site infection after surgery are estimated to be between 3% to 7%, and the same type of infection is estimated to gross above 19% in the case of contaminated wounds.

  • Upsurge in Surgical Procedures – For instance, every year, approximately 311 million major surgeries are performed worldwide which included approximately 41 to 52 million in the United States and 22 million in Europe.

Challenges

  • High Cost of Chronic Wound Treatment - It is a well-known fact that topical wound agents can be very useful to heal wounds but they are not cost-effective. Additionally, people aren’t much aware of the presence of such wound treatment. Hence, these factors can hamper the growth of the market.
  • Rising Need for Urgent Treatment
  • Competitive Pricing of Topical Treatment Products Among Manufacturers

Topical Wound Agents Market: Key Insights

Base Year

2022

Forecast Year

2023-2033

CAGR

~9%

Base Year Market Size (2022)

~USD 2 Billion

Forecast Year Market Size (2033)

~USD 5 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 the Middle East and Africa)
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Topical Wound Agents Segmentation

End-user (Hospitals, Clinics); Distribution Channel (Hospital Pharmacies, Retail Pharmacies, E-Commerce)

The global topical wound agents market is segmented and analyzed for demand and supply by end-user into hospitals, clinics, and others, out of which the hospitals segment is estimated to hold the largest share over the forecast period on the back of a growing count of patients’ hospitalization who is suffering from chronic and acute wounds. Since a large number of countries are paying adequate attention to the healthcare infrastructure, it becomes quite convenient to receive desired treatment.  For instance, the Centers for Medicare & Medicaid Services stated that in 2020, 131.1 million hospital visits occurred in the United States, out of which 38 million were owing to injury-related visits. Furthermore, the increasing prevalence of chronic wounds including venous leg ulcers, infectious wounds, ischemic wounds, surgical wounds, and wounds from radiation poisoning which need specialized treatment is allowing the population to opt for hospital and its technologically advanced products are anticipated to boost a significant revenue generation of the segment.

Application {Acute Wound (Surgical & Traumatic Wound, Burns)

The global topical wound agents market is also segmented and analyzed for demand and supply by application to acute wounds and chronic wounds. Out of these, the chronic wound segment is forecasted to hold the largest share of the market. The major factor attributed to the growth is the increased prevalence of chronic diseases such as diabetes, obesity, and others which leads to chronic wounds including diabetic foot ulcers, venous leg ulcers, and many more. Topical wound agents are effective medical products that heal chronic wounds in a painless way. Also, the rising cases of surgical procedures, traumatic incidents, and accidents are anticipated to rise the number of chronic diseases which ultimately generates a high demand for topical wound agents.

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

                 By Product Type

  • Creams
  • Gels
  • Powders
  • Lotions
  • Emulsions
  • Others

                By Application

  • Acute Wound
    • Surgical & Traumatic Wound
    • Burns
  • Chronic Wound
    • Diabetic Foot Ulcer
    • Venous Leg Ulcer
    • Pressure Ulcer
    • Others

                By End-User

  • Hospitals
  • Clinics
  • Others

               By Distribution Channel

  • Hospital Pharmacies
  • Retail Pharmacies
  • E-Commerce

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Topical Wound Agents Industry - Regional Synopsis

The North America topical wound agents market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2033. The growth of the market in the region can be accounted to the rising prevalence of chronic wounds and rising healthcare expenditure. It became quite convenient for people to receive quick treatment since the developed health expenditure of multiple nations is providing the necessary workforce and medicines. As per the data provided by the Centers for Medicare & Medicaid Services, the national health expenditure of the United States is expected to rise by 5.1% per year between 2021 and 2030, reaching nearly USD 6.8 trillion. Further, the presence of a strong healthcare network in the region, along with the availability of skilled medical professionals to use topical wound agents are also anticipated to contribute to the market growth in the region. In addition, the rising cases of chronic diseases, especially diabetes, are also expected to surge the growth of the North America market in the analysis period.

Research Nester
Topical-Wound-Agents-Market-Regional
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Companies Dominating the Topical Wound Agents Landscape

top-features-companies
    • 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
    • Novartis Pharma AG
    • Pfizer Inc.
    • Johnson & Johnson Services, Inc.
    • Viatris Inc.
    • AstraZeneca PLC
    • Teva Pharmaceutical Industries Ltd.
    • Coloplast A/S
    • ConvaTec Limited

In-the-news

In The News

  • Mölnlycke Health Care AB has announced the clinical results of its Mepilex Ag. This product has delivered effective results on a variety of wound types, including partial-thickness burns with low-to-medium exudate levels, thereby managing infection risks. Its soft silicone wound contact layer relieves wound and peri-wound pain caused by trauma and infection.

  • ConvaTec Limited has acquired Triad Life Sciences Inc. The Triad team, current portfolio, and product pipeline are projected to now exist as Convatec Advanced Tissue Technologies, under the Advanced Wound Care (AWC) brand.

Author Credits:  Radhika Gupta, Shivam Bhutani


  • Report ID: 4569
  • Published Date: Feb 13, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Growing prevalence of chronic wounds, the increasing number of diabetic foot ulcers, the surge in burns cases, and the escalation in post-surgical wounds are some of the major factors estimated to drive the growth of the market.

The market is anticipated to attain a CAGR of 9% over the forecast period, i.e., 2023-2033.

High cost of chronic wound treatment, the rising tendency in patients for urgent treatment, and competitive pricing of topical treatment products among manufacturers are some of the factors estimated to hamper the market growth.

The market in North America is projected to hold the largest market share by the end of 2033 and provide more business opportunities in the future.

The major players in the market are Smith & Nephew PLC, Mölnlycke Health Care AB, Novartis Pharma AG, Pfizer Inc., Johnson & Johnson Services, Inc., Viatris Inc., AstraZeneca PLC, Teva Pharmaceutical Industries Ltd., Coloplast A/S, ConvaTec Limited, and others.

The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.

The market is segmented by product type, application, end-user, distribution channel, and by region.

The hospital segment is anticipated to garner the largest market size by the end of 2033 and display significant growth opportunities.
Topical Wound Agents Market Report Scope
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