Wound Care Market Size & Share, by Functions (Hospitals, Specialty Clinics, Home Healthcare); Applications (Chronic Wounds, Acute Wounds) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2035

  • Report ID: 4823
  • Published Date: Apr 14, 2023
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2023-2035

Wound Care Market size is poised to cross USD 58 billion by the end of 2035, witnessing around 8.4% CAGR during the forecast period, i.e., 2023-2035. In the year 2022, the industry size of wound care was surpassed USD 22 billion.The industry growth is mainly credited to an increasing number of slow-healing diseases such as anemia, cancer, and diabetes around the world. Autoimmune diseases such as chronic diseases and lifestyle-related diseases can cause stubborn wounds and injuries that do not heal. For instance, anemia is a condition in which the body cannot produce enough healthy red blood cells. This can slow wound healing because red blood cells are responsible for carrying oxygen throughout the body, and a lack of oxygen can impair the healing process.

Wound care includes the treatment of chronic or complex wounds with products not available without a prescription. Wound care techniques can be categorized into general wound care and advanced wound care. Advanced wound care is a type of wound care that treats complex wounds with less available drugs than basic wound care, which treats simple wounds with readily available drugs. To receive advanced wound care, patients typically need to be treated at a doctor or hospital with an advanced wound care clinic. Wound healing methods include hydrocolloids, hydrogels, and duodenal plasters. These are the plasters that are estimated to have a positive impact on the growth of the global wound care market. It has been observed that 97% of people worldwide prefer using hydrocolloid dressings to conventional daily dressings because of their comfort, intrinsic healing properties, and lack of infection.


Wound Care Market-min
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Wound Care Sector: Growth Drivers and Challenges

Growth Drivers

  • Rising Incidence of Chronic Wounds: Chronic wounds such as diabetic foot ulcers and pressure ulcers are becoming increasingly common, driving demand for wound care products. According to the World Health Organization (WHO), an estimated 422 million people worldwide have diabetes, with around 20% of them developing diabetic foot ulcers. Additionally, the prevalence of pressure ulcers is estimated to be between 10% and 18% in hospital settings.
  • Increasing Geriatric Population: The aging population is more prone to developing chronic wounds, hence increasing the demand for wound care products. According to the United Nations, the number of people aged 65 years and older is projected to more than double by the year 2050, reaching 1.5 billion globally.
  • Growing Number of Surgeries: As mentioned earlier, surgical wounds require proper care to prevent infection and promote healing. According to a report, around 313 million surgeries are performed each year, with this number projected to increase in the coming years.

Challenges

  • High Cost: Advanced wound care products can be expensive, making it difficult for patients to access them. This is particularly problematic in low- and middle-income countries, where patients may not have access to adequate healthcare.
  • Lack of reimbursement
  • Product development costs

Wound Care Market: Key Insights

Base Year

2022

Forecast Year

2023-2035

CAGR

8.40%

Base Year Market Size (2022)

USD 22 Billion

Forecast Year Market Size (2035)

 USD 58 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)
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Wound Care Segmentation

Functions (Hospitals, Specialty Clinics, Home Healthcare)

The segment is set to have a substantial market share of 35% in 2035. This can be accredited to the large number of patients requiring advanced wound care and hospitalized for surgery or treatment of chronic conditions such as diabetes and pressure ulcers. The hospital also has the wound care management devices and staff necessary for advanced wound care, including growth factor therapy and negative pressure wound therapy (NPWT).

Applications (Chronic Wounds, Acute Wounds)

In the year 2035, the chronic wounds segment in the wound care market is predicted to command a large proportion of over 60%. The segment's expansion can be attributed to the rising prevalence of chronic wounds such as diabetes, pressure ulcers, and other disorders. In the year 2018, the incidence of chronic ulcers was over 2 per 1000 population and the incidence of chronic leg ulcers was 1 per 1000 population. Chronic wounds can be defined as physiologically compromised wounds resulting from disruption of the wound healing cycle as a result of impaired angiogenesis, innervation, or cell migration, among others. Normal wound healing is discussed separately. Skin wounds that do not heal, heal slowly, or heal but tend to recur are called chronic wounds. Many causes of chronic (permanent) skin wounds may include trauma, burns, skin cancer, infections, or underlying conditions such as diabetes. Wounds that take a long time to heal require special care.

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

         Functions

  • Hospitals
  • Specialty Clinics
  • Home Healthcare

         Applications

  • Chronic Wounds
  • Acute Wounds

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Wound Care Industry- Regional Synopsis

North American Market Forecast

The wound care market in North America region is forecasted to have the most noticeable market share of 35% by the end of 2035. The robust medical infrastructure and increase in surgical procedures in this region are key contributors to regional growth. Therefore, there is an increasing adoption of wound care treatments to prevent postoperative wound infections. The market is also expected to be driven by the increasing incidence of incidents such as road accidents, burns, and trauma, in this region. In addition, increasing disposable income for facial correction and growing people's awareness of wound care equipment are also surging the demand for market in the Asia Pacific region.

APAC Market Statistics

The wound care market in Asia Pacific is expected to have the second biggest share of around 24% between 2023 and 2035. The continual increase in the region's older population is primarily responsible for the market's growth in this region. The Asia Pacific population is aging faster than anywhere else in the world. Sixty per cent of the world's total elderly population, that is, 630 million people live in the Asia Pacific region. Moreover, the government's role in raising awareness for advanced wound care, increasing the number of wounded patients, and increasing funding for medical infrastructure are expected to spur market growth in the region.

Research Nester
Wound Care Market Size-min
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Companies Dominating the Wound Care Landscape

top-features-companies
    • Arch Therapeutics, Inc.
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Convatec Group PLC
    • 3M Healthcare
    • Convatec Group PLC
    • Coloplast A/S
    • Cardinal Health
    • B. Braun Melsungen AG
    • Acelity L.P. Inc.
    • Integra Lifesciences Holdings Corporation
    • Medtronic plc

In the News

  • Arch Therapeutics, Inc. has announced the first shipment of the AC5 Advanced Wound System under a new reimbursement program. AC5 was a synthetic, self-assembling wound care product that enables physicians to provide multimodal support during all stages of the wound healing process.
     
  • Convatec Group PLC has entered into an agreement to acquire Triad Life Sciences Inc. that develops innovative bio-based products that meet the needs of surgical and chronic wounds and burns.

Author Credits:  Radhika Gupta, Shivam Bhutani


  • Report ID: 4823
  • Published Date: Apr 14, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Rising incidence of chronic wounds, and growing number of surgeries are the major factors driving the market growth.

The market size of wound care is anticipated to attain a CAGR of 8.40% over the forecast period, i.e., 2023-2035.

The major players in the market are Cardinal Health, B. Braun Melsungen AG, Acelity L.P. Inc., Integra Lifesciences Holdings Corporation, Medtronic plc, and others.

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

The market is segmented by functions, application, and by region.

The hospitals segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.

The product development costs are estimated to be the growth hindering factors for the market expansion.

The market in the North American region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.
Wound Care Market Report Scope
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