Wound Skin Care Market Size & Share, by Product (Advanced Wound Care, Surgical Wound Care Products, Traditional Wound Care Products, Negative Pressure Wound Therapy, Wound Therapy Devices); Application (Acute Wounds, Chronic Wounds); End User (Hospitals & Clinics, Specialty Clinics, Home Care Settings) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

  • Report ID: 5920
  • Published Date: Mar 27, 2024
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2024-2036

Wound Skin Care Market size is estimated to cross USD 15 Billion by the end of 2036, growing at a CAGR of 5% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of wound skin care was USD 9 Billion. The major element to dominates the expansion of the market is the growing number of road accidents. As per the prediction of the World Health Organization, about 1.19 million people die on account of road accidents every year. Additionally, close to 20 to 50 million population suffer from non-fatal injuries, with a large of them sustaining disability. As a result, the market demand for wound skin care is predicted to surge.

Furthermore, advancement in technology has led prominent players to launch of number of effective and novel products in the field of wound skin care. Additionally, the investment in research & development is also surging by key market players. Hence, these two factors are also estimated to encourage the market for wound skin care over the coming years.


Wound Skin Care Market
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Wound Skin Care Sector: Growth Drivers and Challenges

Growth Drivers

  • Growing Geriatric Population - According to the estimation of WHO, over the world, 1 in 6 people is projected to be aged over 60 by 2030. This is projected to grow double by 2050. However, with the growth in the age the prevalence of pressure ulcer is also predicted to grow. There are various risk factors associated with the growth in the prevalence of pressure ulcers, however, pressure is considered the significant factor for its prevalence. Old people are highly prone to the spread of these skin lesions owing to the changes correlated with the aging process. Furthermore, the process of healing of wounds is slow and intricate among old people. An important initial stage of healing which is the inflammatory response, is frequently detained in aging skin. This detained may cause a prolonged inflammatory phase, affecting the remodeling stages and subsequent proliferation. As a result, the demand for wound skin care segment is flourishing.
  • High Prevalence of Surgical Site Infection - Surgical site infections (SSIs) are infections that arise in the wound of an invasive surgical procedure, and they endure to be a common complexity of surgical procedures even though there has been different advancements made in infection control practices. Various factors boosting the risk of surgical site infection are poor scars that are cosmetically impermissible, including those that are developing, keloid, or hypertrophic; itching and persistent pain; and limitation of movement, particularly when it occurs over joints and have a notable impact on the well-being of emotions.
  • Surge in Adoption of AI in Wound Skin Care - With the evolvement in healthcare, new artificial intelligence (AI) applications are emerging that have the possibility to revolutionize the method one approach to wound care. By enhancing diagnosis, monitoring, and treatment, AI has the potential to remarkably upgrade patient outcomes and limit the cost of healthcare. Furthermore, AI may guide clinicians in order to develop personalized plans for treatment based on each patients’ unique characteristics of the wound, medical history, and more.

Challenges

  • High Cost of Wound Skin Care - With the advancement in wound skin care, the price associated with this treatment is also growing. Hence, the demand for wound skin care might fall owing to two major elements and that is affordability and accessibility. The price rise may prevent people and also the healthcare facilities from adopting this solution. Therefore, the growth in wound skin care market revenue is poised to be hindered.
  • Lack of Awareness Among People In developing nations, the knowledge regarding wound infection is limited among people. This includes identifying signs of infection, techniques of appropriate dressing, and timely medical intervention. As a result, this factor is set to hinder the expansion of the market.
  • Lack of Availability of Treatment in Developing Nations

Wound Skin Care Market: Key Insights

Base Year

2023

Forecast Year

2024-2036

CAGR

~5%

Base Year Market Size (2023)

~ USD 9 Billion

Forecast Year Market Size (2036)

~ USD 15 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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Wound Skin Care Segmentation

Product (Advanced Wound Care, Surgical Wound Care Products, Traditional Wound Care Products, Negative Pressure Wound Therapy, Wound Therapy Devices)

The advanced wound care segment is anticipated to hold 30% share of the global wound skin care market during the forecast period. This growth is set to be dominated by rising solutions offered by AI companies in the healthcare sector. This is because the investment made by healthcare investors reached over USD 19 billion in the world alone through three quarters of 2021. Hence, this has attracted several AI companies to offer their solutions in a variety of settings. Additionally, the governments of different nations are also encouraging the adoption of AI in healthcare. Hence, the market demand for wound skin care. Moreover. the adoption of IoT is also estimated to observe a surge. The people are expected to maintain regular checks on their surgical and nonsurgical wounds to analyze the wound healing. Measures such as wound appearance size, and environment need to be verified, which is why, IoT is finding an opportunity in this field. Hence, the advanced wound care segment is expected to experience growth which is further boosting market expansion.

End User (Hospitals & Clinics, Specialty Clinics, Home Care Settings)

The hospitals & clinics segment is anticipated to hold 50% share of the global wound skin care market during the forecast period. This growth of the segment is poised to be encouraged by rising healthcare insurance since it influences the adoption of various healthcare services. Moreover, the construction of hospitals is also surging in various remote parts of the world, which has further made the availability of various services present. Hence, the demand for wound skin care is predicted to rise. Furthermore, the collaboration of clinics and healthcare providers is growing significantly, which is why this segment is predicted to grow. Hence, owing to the growing segment the market revenue is also predicted to rise.

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

            Product

  • Advanced Wound Care Market
  • Surgical Wound Care Products
  • Traditional Wound Care Products
  • Negative Pressure Wound Therapy
  • Wound Therapy Devices

           Application

  • Acute Wounds
  • Chronic Wounds

          End User

  • Hospitals & Clinics
  • Specialty Clinics
  • Home Care Settings

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Wound Skin Care Industry - Regional Synopsis

North American Market Forecast

The North America wound skin care market is projected to gather the highest share of about 35% over the forecast period. This growth is set to be influenced by a growing number of key companies in the field of wound skin care. Additionally, the market is also predicted to rise owing to the rising disposable income. In the United States, Disposable Personal Income rose to over USD 20655 Billion in January from close to USD 20588 Billion in December of 2023. Moreover, the prevalence of chronic disease is also growing in this region on account of rising consumption of tobacco, and poor nutrients.

European Market Analysis

The Europe wound skin care market is estimated to have notable growth in the revenue over the coming years. This growth of the market is set to be dominated by rising population. Hence, with the growing population the prevalence of chronic disease is also growing which has further given rise to chronic wounds. As a result, the market for market is surging in Europe. Moreover, the awareness regarding wound skin care is high among Europe people, and also government is launching various initiatives in order to make the service reach to large number of people in this region. Therefore, this factor is also set to dominate the market expansion in this region. The integration of telemedicine in wound skincare is generating opportunities for remote consultation and monitoring in Europe. Through deploying wound skincare into telehealth platforms, healthcare facilities may remotely manage and access wounds ensuring timely interventions. As a result, the wound skin care market is projected to have a dominating expansion in this region.

Research Nester
Wound Skin Care Market Size
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Companies Dominating the Wound Skin Care Landscape

top-features-companies
    • Derma Sciences Inc.
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Medline Industries, Inc
    • Advancis Medical
    • B. Braun SE
    • Smith+Nephew
    • Omeza
    • Coloplast Corp.
    • Medtronic
    • ConvaTec Group PLC
    • Johnson & Johnson Services, Inc.

In-the-news

In The News

  • The global medical technology business, Smith+Nephew announced the agreement to acquire Extremity Orthopaedics business of Integra LifeSciences Holding Corporation. This acquisition is estimated to assist strategy of Smith+Nephew to invest in higher-growth segments.
  • A regenerative skincare company, Omeza who develops marine-based therapies, announced positive interim data from a diabetic foot ulcer (DFU) clinical trial showing which stated that Omeza OCM plus offloading of weight on the affected foot attained a 91 percent area reduction (PAR) rate in DFUs within twelve weeks, and a 63 percent PAR within four weeks. 

Author Credits:  Radhika Gupta, Shivam Bhutani


  • Report ID: 5920
  • Published Date: Mar 27, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

The major factors driving the growth of the market are growing geriatric population, high prevalence of surgical site infection, and surge in adoption of AI in wound skin care.

The market size of wound skin care is anticipated to attain a CAGR of 5% over the forecast period, i.e., 2024-2036.

The major players in the market are Derma Sciences Inc., Medline Industries, Inc, Advancis Medical, B. Braun SE and others.

The hospitals & clinics segment is anticipated to garner the largest market size by the end of 2036 and display significant growth opportunities.

The market in the North America region is projected to hold the largest market share by the end of 2036 and provide more business opportunities in the future.
Wound Skin Care Market Report Scope
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