Wound Care Market to Garner $26,994.01Mn, Globally, by 2028; Industry Overview by Size, Share, Trends, and Industry Segments Poised for Rapid Growth by 2028

Premium Market Insights has added a new report titled “Wound Care Market Size, Share, Growth, Demand, Industry Trends and Forecast to 2028-COVID-19 Impact and Global Analysis-by Product, Wound Type, and End User,” the market is expected to grow from US$ 19,350.76 million in 2022 to US$ 26,994.01 million by 2028; it is estimated to record a CAGR of 5.7% from 2022 to 2028. Increase in the number of wounds and surgical procedures and rise in new product launches and strategic collaborations are among the key factors driving the wound care market growth. However, surge in product recalls & high cost of wound care hinder the wound care market growth. Wound Care market report also sends the list of the leading competitors and provides the insights about strategic industry analysis of the key factors influencing the industry. With transparent market research studies, an absolute and qualitative report has been offered to the client. This market report also presents the company profile, product specifications, production value, contact information of manufacturer, and market shares for company.

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Based on wound type, the wound care market is segmented into chronic wounds and acute wounds. The chronic wounds segment held a larger share of the wound care market in 2022 and is expected to record a higher CAGR during the forecast period. Chronic wounds generally delay the response to treatment or fail to progress healing in the expected time. Over the period, chronic wounds become stuck in the inflammatory phase and increase the demand for wound care management. The market for the chronic wounds segment is further segmented into diabetic foot ulcers, pressure ulcers, venous leg ulcers, and others. The market for this segment is expected to grow rapidly in the coming years as these wounds require frequent dressings. In addition, the management of chronic wounds requires other products such as surgical debridement, negative pressure dressing and devices, and hyperbaric therapy devices, as chronic wounds may lead to unbearable pain. Moreover, wound care for chronic wounds has become increasingly important as there is a higher risk of associated morbidities.

Global “Wound Care Market” Report (value and volume) by company, regions, product types, end industries, history data and estimate data. Also, Report contains a comprehensive analysis of the important segments like market opportunities, import/export details, market dynamics, key manufacturers, growth rate, and key regions. This report focuses on the Wound Care in the Global market, especially in the United States, Europe, China, Japan, South Korea, North America, India. Wound Care Market report categorizes the market based on manufacturers, regions, type, and application. Wound Care Market reports offer a detailed assessment of the Wound Care including enabling technologies, current market situation, market assumptions, restraining factors.

Top Key Players of Wound Care Market Report are

Smith & Nephew, Ethicon USA LLC, Convatec Group Plc, BAXTER International Inc., Coloplast AS, Paul HARTMANN AG, Medtronic Plc, 3M Company, MIMEDX, and Integra LifeSciences Holdings Corporation are among the leading companies operating in the global market.

New York has a significant number of patients with lower extremity wounds consisting of arterial, venous, diabetic, and neuropathic ulcerations. Studies showed a decrease in visits to wound care centers by 40% in 2020 compared to 2019. Therefore, since March 2020, several wound management protocols have been changed and implemented for inpatients and outpatients. The emergence of telemedicine has leveraged wound care and helped decrease the number of deaths due to chronic wounds.

Companies operating in the wound care market adopt various organic and inorganic strategies. Organic strategies mainly include product launches and product approvals. Acquisitions, collaborations, and partnerships are among the inorganic growth strategies witnessed in the wound care market. These growth strategies allow the market players to expand their businesses and enhance their geographic presence, thereby contributing to the overall wound care market growth. Further, acquisition and partnership strategies help them strengthen their customer base and expand their product portfolios.

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A few of the significant developments by key market players are listed below:

In September 2022, MiMedx Group, Inc. announced the launch of AMNIOEFFECT, a tri-layer PURION-processed human tissue allograft consisting of amnion, intermediate, and chorion membrane layers of the placenta. AMNIOEFFECT complements and expands the company’s Surgical Recovery product portfolio. In addition, AMNIOEFFECT offers superior handling characteristics and provides surgeons the capability to secure the tissue in place with sutures when needed to address a surgical wound.

In September 2022, MiMedx Group, Inc. announced the launch of AXIOFILL, an Extracellular Matrix (ECM) Particulate product derived from human placental tissue. AXIOFILL is the first and only human placental-derived particulate product available for Surgical Recovery procedures. AXIOFILL offers a distinct advantage over other particulate products and provides impressive clinical utility for physicians treating complex surgical wounds.

In August 2022, 3M Health Care’s Medical Solutions Division advanced the delivery of 3M Veraflo Therapy. A new 3M Veraflo Cleanse Choice Complete Dressing Kit and a software upgrade for the 3M V.A.C. Ulta Therapy Unit were introduced at no increased cost to the customer. These new offerings help simplify the care delivery processes for clinicians using Veraflo Therapy (negative pressure wound therapy with instillation) and help make dressing changes easier, faster, and less painful for their patients compared to previous Veraflo Therapy dressings.

Chronic diseases such as diabetes, cancer, and other autoimmune disorders directly impact the body’s natural healing ability. Diabetes and immunodeficiency conditions are among the most detrimental conditions that can slow down the speed of the wound repair process. Diabetes is the most commonly identified chronic disease. It adversely impacts the immune system, which can complicate wound healing. According to the International Diabetes Federation (IDF), in 2021, ~ 537 million adults aged 20–79 years had diabetes. The total number of people affected by diabetes is projected to reach 643 million by 2030 and 783 million by 2045. According to data from the National Center for Biotechnology Information (NCBI), impaired healing of diabetic wounds affects ~ 25% of all patients suffering from diabetes mellitus, often resulting in lower limb amputation, with subsequent high economic costs.

As per NCBI, as of July 2021, nearly 500 million people are estimated to be suffering from diabetes mellitus (DM), with a predicted startling increase in the coming years. In the US alone, over $300 billion is spent annually on medical costs and as the result of lost workdays due to DM. Moreover, as per a study titled Diabetic Wound-Healing Science by National Center for Biotechnology Information (NCBI), between 1 in 3 overall population and 1 in every 5 DM patients will develop a chronic nonhealing wound, such as a diabetic foot ulcer (DFU), in their lifetime. The hyperglycemic environment promotes the formation of biofilms and makes diabetic wounds difficult to treat. The prolonged healing process due to chronic diseases leads to a long-term need for wound dressings, resulting in high demand for them.

Key Segmentation: 

• By Product (Advanced Wound Dressing, Surgical Wound Care, Traditional Wound Care, And Wound Therapy Devices)
• By Wound Type (Chronic Wound And Acute Wound)
• By End User (Hospital, Specialty Clinics, Home Healthcare, And Others)

Wound Care Market Segments by Geography

North America
Europe
Asia Pacific
Latin America
Middle East & Africa

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Moreover, the increased prevalence of cancer has fueled the number of interventions performed. As a result, wound dressings are often used to prevent postoperative wound infections. Most surgical wounds after cancer surgery are large and deep, resulting in exudate that requires frequent management. Advanced wound dressings such as hydrogels, alginates, and foams help in wound management and infection prevention. As a result, the rise in the prevalence of chronic diseases is propelling the demand for wound care products, fueling the wound care market.

The effect of COVID-19 pandemic was prominently seen in wound care services. Due to the lockdown, only emergency services were available. Therefore, wound care services were misclassified as elective care. According to a research article titled “Human Wound and Its Burden: Updated 2020 Compendium of Estimates” published in 2021, regular patient visits for wound care reduced to 25% from 2020 to 2021 and readmission reduced to 30%. Thus, patients were at a higher risk of developing infections in their wounds. In addition, ignorance toward chronic wounds has led to increased deaths. Furthermore, people having nonhealing wounds due to comorbidities such as diabetes, hypertension, and kidney diseases were at a higher risk of mortality. Many of the patients with nonhealing wounds faced severe consequences of COVID-19 pandemic.

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