Wound Care Management Devices Market Size & Share, by Product (Advanced Wound Management, Surgical Wound Care, Traditional Wound Care); Wound Type (Burns, Ulcer, Surgical Wounds); End-user (Hospitals & Clinics, Homecare Settings) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2030

Global Wound Care Management Devices Market Highlights 2022-2030

The global wound care management devices market is expected to grow by a CAGR of 6.1% during the forecast period, i.e., 2022-2030. The growth of the market can be attributed to the increasing number of road accidents, escalating prevalence of chronic disorders, which delays the process of healing of surgical, acute, traumatic, and other wounds. Additionally, the growing medical spending for the treatment of chronic wounds in developed nations is a major factor assessed to boost the growth of the market in the future. Along with this, high growth potential of emerging economies and the growing number of acquisitions by key players is anticipated to open an array of opportunities for the growth of the market. Furthermore, ageing population serves as a stimulus for the expanding usage of wound care management devices, which in turn is projected to fuel the progress of the market. According to the United Nations, it is expected that by the year 2050, one in every 6 individuals will be 65 years or older, which is 16% of the total world population. Additionally, the number of individuals aged above 80 years is also expected to get triple by the end of 2050. 

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The market is segmented based on product into advanced wound management, surgical wound care, and traditional wound care, out of which, the advanced wound management devices segment is expected to grab the largest share in the global market over the forecast period on account of increasing number of launches of technologically advanced products across the world. Additionally, on the basis of end-user, the hospitals & clinics segment is expected to hold a notable major share in the global wound care management devices market on the back of the increasing number of surgeries performed in hospitals.  

Major Macro-Economic Indicators Impacting the Market Growth

According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.

Global Wound Care Management Devices Market Regional Synopsis

Geographically, the global wound care management devices market is segmented into North America, Latin America, Europe, Asia Pacific and the Middle East & Africa region. The Asia-Pacific region is estimated to witness significant market growth over the forecast period on the back of increasing number of accident cases and rising investments by major market players to develop better-wound care management services in the region. Additionally, a growing ageing population in Asian countries is another vital factor expected to aid the market’s growth over the forecast period. Furthermore, the North American market is predicted to hold the largest share in terms of revenue during the forecast period, which can be attributed to the increasing launch of new devices for wound management and the presence of major manufacturers which are heavily investing in the R&D activities for development of innovative products.

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The global wound care management devices market is further classified on the basis of region as follows:

• North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
• Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
• Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
• Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
• Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis

Market Segmentation

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

By Product

• Advanced Wound Management
  • Advanced Wound Dressing
    • Hydrocolloid Dressing
    • Film Dressing
    • Alginate Dressing
    • Other Advanced Wound Dressings
  • Wound Therapy Device
    • Pressure Relief Device
    • Electrical Stimulation Device
    • Other Wound Therapy Devices
  • Active Wound Care
    • Suture and Staple
    • Topical Agents
• Surgical Wound Care
  • Tissue Adhesives
  • Anti-infective Dressing
• Traditional Wound Care Injectable
  • Medical Tapes
  • Cleansing Agents
  • Dressings

By Wound Type

• Burns
• Ulcer
  • Pressure Ulcers
  • Diabetic foot ulcers
  • Venous Ulcers
  • Arterial Ulcers
•  Surgical Wounds
• Others

By End-User

• Hospitals & Clinics
• Homecare Settings
• Others

Growth Drivers

• Growing Number of Surgeries Performed Globally
• Increasing Geriatric Population in the World

Challenges

• High Cost of Wound Care Management Devices

Top Featured Companies Dominating the Market

•  Cardinal Health, Inc.
  • Company Overview
  • Business Strategy
  • Key Product Offerings
  • Financial Performance
  • Key Performance Indicators
  • Risk Analysis
  • Recent Development
  • Regional Presence
  • SWOT Analysis
• Medtronic PLC
• 3M Company
• Coloplast A/S
• Smith & Nephew PLC
• Johnson & Johnson Services, Inc.
• ConvaTec Group plc
• Hollister Incorporated
• Medline Industries Inc.
• Ethicon Inc.