Wound Care Market By Product (Advanced Wound Dressing, Surgical Wound Care, Traditional Wound Care, Wound Therapy Devices), Wound Type (Surgical & Traumatic Wounds, Diabetic Foot Ulcers, Pressure Ulcers), End-User (Hospitals and Clinics, Long-term Patient Care, Home Care Settings), & Region for 2024

Published Date: August - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format

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Wound Care Market By Product (Advanced Wound Dressing, Surgical Wound Care, Traditional Wound Care, Wound Therapy Devices), Wound Type (Surgical & Traumatic Wounds, Diabetic Foot Ulcers, Pressure Ulcers), End-User (Hospitals and Clinics, Long-term Patient Care, Home Care Settings), & Region for 2024

Wound Care Market Valuation – 2024-2031

The increasing geriatric population globally is increasing the prevalence of chronic conditions, such as diabetes, obesity, and vascular diseases. These disorders significantly increase the risk of chronic wounds that are slow-healing wounds. Thus, the rising prevalence of chronic conditions is driving the market size to surpass USD 21.11 Billion in 2024 to reach a valuation of USD 30.27 Billion by 2031.

Improved medical care enables people with chronic illnesses to live longer, resulting in a bigger population managing chronic wounds for longer periods. Also, the growing problem of antibiotic resistance complicates treating infected wounds, potentially extending the healing process. Thus, the increased life expectancy and antibiotic resistance are enabling the market to grow at a CAGR of 4.61% from 2024 to 2031.

Wound Care MarketDefinition/ Overview

Wound care is the act of maintaining and treating wounds to improve healing while reducing the risk of complications. It covers a wide range of tasks, from initial wound cleansing and dressing to continuing monitoring and treatment.

Wound Care is a multi-step approach that promotes maximum healing. To establish a specific treatment strategy, healthcare practitioners first examine the wound’s depth, size, and severity. This usually entails thoroughly cleaning the incision to remove debris, dead tissue, and minimize bacterial load, minimizing the risk of infection. Following washing, clothing the wound is critical to protecting it, keeping it moist, and absorbing excess exudate.

Films, foams, gauze, hydrocolloids, and hydrogels are examples of wound dressings that can be used to treat various wound types and stages. These dressings help the healing process by creating the ideal environment for tissue regeneration. Advanced wound care treatments go beyond standard methods, using novel approaches such as negative pressure wound therapy, tissue-engineered products, growth factors, and bioactive dressings. These new treatments attempt to speed up healing, reduce scarring, alleviate pain, and avoid infections, thereby improving patient outcomes.

Effective wound care needs continuous monitoring and therapy adjustments as wounds move through different stages of healing. To maximize patient healing, healthcare experts, nurses, and specialized Wound Care teams frequently collaborate. Healthcare practitioners can improve patient outcomes and speed up healing by using a thorough and coordinated approach to wound care treatment.

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How the Escalating Prevalence of Chronic Wounds is Driving the Growth of the Wound Care Market?

Chronic wounds, like pressure sores, leg ulcers, and diabetic foot infections, are becoming more common. This is largely due to the rise in obesity, diabetes, and an aging population. These wounds can last a long time and need specialized treatment. As a result, there is a growing demand for advanced wound care products and treatments. For example, a recent study found that between 9.1 and 26.1 million people worldwide develop diabetic foot ulcers each year. It also showed that people with diabetes are at risk of developing these ulcers throughout their lives. These numbers show how important it is to find ways to treat and stop chronic wounds. We need better wound care solutions to address this growing health problem.

The increasing number of surgical procedures performed globally is an increasing demand for comprehensive wound care. Effective wound care is critical for reducing the risk of surgical site infections and promoting adequate wound healing following surgery. As a result, there is an increasing use of Wound Care products in surgical settings to ensure positive results for patients undergoing surgical treatments.

According to the every year over 310 million major surgeries are performed around the world, with the United States accounting for 40 to 50 million and Europe for 20 million. It is expected that 1-4% of these patients may die, up to 15% will experience severe postoperative morbidity, and 5-15% will be readmitted within 30 days. Also, Major surgery has an annual global mortality rate of approximately 8 million patients, making it equivalent to the top causes of death from cardiovascular disease and stroke, cancer, and accidents.

The advancement of Wound Care technologies and products has played a critical role in improving patient outcomes and enhancing wound healing. Wound dressing innovations, including hydrogels, antimicrobial, and foam dressings, have provided healthcare providers with more effective tools for treating a wide range of wound types. Furthermore, the development of active wound healing therapies, such as bioactive dressings and growth factors, has helped to improve healing results.

How the High Cost Associated with Wound Care Solutions is Hampering the Growth of the Wound Care Market?

The high cost of advanced wound care products is throwing a wrench in the growth of the wound care market. People and clinics are less likely to use these treatments because they're simply too expensive. Affordability and access are huge factors in whether these new products will catch on. If healthcare facilities and individuals can't afford them, they won't be used as widely, which will hinder the market's potential. Chronic wounds, like stubborn ulcers or infections, are a major problem. They lead to more hospital stays and higher medical bills. A study even showed that Medicare patients with chronic wounds were hospitalized six times more often and spent three times more on healthcare than those without.

Insufficient awareness or adherence to proper wound care regimens, which is especially common in impoverished nations, causes delayed healing and increased complications. In such areas, poor access to healthcare resources and knowledge frequently results in an inadequate awareness of the significance of effective wound care techniques. As a result, people ignore wounds or use poor treatments, increasing the risk of infection and delaying the healing process.

Reimbursement rules inadequately cover advanced wound care products, discouraging their use and hampering more widespread adoption. This limitation is due to a variety of issues, including financial constraints within healthcare systems and payment standards that may not reflect the perceived value of these novel goods. As a result, healthcare practitioners and patients may encounter challenges in obtaining modern wound care treatments, restricting their capacity to benefit from the most recent advances in wound management, and challenges that occur for practitioners and patients will act as a limiting factor for the wound care market.

Category-Wise Acumens

How the Widespread Acceptance of Dressing is Driving the Growth of the Advanced Wound Dressing Segment in the Wound Care Market?

The advanced wound dressing segment is showing significant growth in the wound care market and is expected to continue its growth throughout the forecast period. The widespread adoption of these dressings is ascribed to many important benefits they provide. Advanced wound dressing antimicrobial capabilities help to reduce pain, speed up healing, and prevent infections. Furthermore, sophisticated wound dressings excel at managing wound exudate, which is critical for ensuring optimal healing conditions.

These dressings also generate a moist wound environment, which promotes autolytic debridement—the natural process of eliminating dead tissue—and hence healing. Furthermore, they aid in the production of granulation tissue, a critical phase in the wound healing process. Furthermore, improved wound dressings’ flexibility and conformability improve patient comfort while also providing superior coverage and protection for the wound site. Overall, these advantages highlight the importance of improved wound dressings in wound treatment, underlining their relevance in improving patient outcomes and advancing the standard of care in wound treatment.

When a wound is healing, it needs just the right amount of moisture. Too much or too little can slow things down. That's where advanced dressings come in. Dressings like hydrogels and hydrocolloids are like tiny sponges. They soak up extra fluid from the wound but leave just enough to keep it from drying out. This helps the wound heal faster. Some dressings, like hydrogels, can even help the body's own cleaning crew get rid of dead tissue and debris. This makes way for new, healthy tissue to grow. Other dressings keep the wound at a good temperature, which is like a cozy bed for cells to grow and multiply. By keeping the temperature just right, these dressings give the wound the best chance to heal quickly and properly.

How the Increasing Number of Traumatic Injuries are Driving the Growth of the Surgical and Traumatic Wounds Segment in the Wound Care Market?

The surgical & traumatic wounds segment is experiencing significant growth in the wound care market and is expected to continue its growth throughout the forecast period thanks to the increasing number of traumatic injuries due to road accidents. According to the in India in 2022 around 4,61,312 from accidents 1,68,491  and 4,43,366 people caused injuries. This is an increase of 11.9% in accidents, 9.4% in fatalities, and 15.3% in injuries over the previous year. In 2021, in around 153,972 people were killed in road crashes. The death rate has increased by 20%.

Imagine after a bad car accident, you end up with a nasty wound. It's like a time bomb waiting to cause trouble—infection, losing too much blood, or even permanent damage to your body. But here's the good newsdoctors and nurses can be your heroes by taking quick action to heal your wound. If they treat it right away, they can stop the infection, keep you from bleeding out, and prevent your body from suffering long-term harm. By getting the right care fast, you'll heal quicker and have a better chance of getting back to your old self. But it's not just about avoiding problems. Good wound care helps your body heal the best it can, leading to a better recovery and a brighter future. That's why it's so important for doctors and nurses to jump into action right away and give you the best possible treatment for your wound. It's all about helping you get back on your feet and living your life to the fullest as soon as you can.

Gain Access to Wound Care Market Report Methodology

Country/Region-wise Acumens

How the Increasing Geriatric Population and Increasing Fatal Work Injuries are Driving the North America Wound Care Market?

North America is estimated to be the highest-growing region in the wound care market and is expected to continue its growth throughout the forecast period owing to the growing geriatric population in the region. In the in 2022 around 17.34% of the population is aging, and around 8.2 million American over the age of 65 are having chronic wounds. The mean age of the chronic wound population is approximately 70-80 years. People above 65 have a non-healing chronic wound

Chronic wounds are a serious problem in the United States, affecting a staggering 10.5 million Medicare participants. That's an increase of over 2 million people since 2014. These wounds affect about 2.5% of the population, with the elderly being particularly vulnerable. Chronic wounds can have devastating consequences. They can cause pain, infection, and mobility problems. They can also lead to increased healthcare costs and even death. The five-year mortality rate for seniors with chronic wounds is the same as for cancer, at around 31%. Diabetes is a major risk factor for chronic wounds. In fact, about 70% of lower-limb amputations in the U.S. are performed on people over 65 with diabetes. Diabetic foot ulcers are a common complication of diabetes, and they can be very difficult to heal. In fact, about one in four people with diabetes will develop a foot ulcer during their lifetime.

The tragic loss of life on the job in our region is adding to the demand for funeral services. In the United States alone, there were a staggering 5,486 fatal work injuries in 2022, a jump of over 5% from the year before. And it's not just accidents that are taking lives. Violence and injuries caused by humans or animals saw an alarming 11.6% increase in 2022, with 849 fatalities compared to 761 in 2021. Sadly, homicides accounted for the majority of these deaths, with 524 lives lost, an 8.9% increase from the previous year.

Competitive Landscape

Picture thisthe wound care world is like a lively neighborhood filled with competing companies. They're constantly coming up with new ideas, expanding their businesses, and making sure they follow the rules. As people demand better ways to heal their wounds, these companies are racing to outdo each other. They're creating new treatments and technologies all the time. Each one has a whole toolbox of wound care goodies, like bandages, gadgets, and therapies, to fix all sorts of wounds and help patients heal. To stay ahead, the big players in this neighborhood fight it out with cutting-edge products, smart pricing, and clever marketing campaigns. They also buy up other companies or team up to expand their offerings and stay in the spotlight. It's like a never-ending game of "product innovation musical chairs."

The organizations are focusing on innovating their product line to serve the vast population in diverse regions. Some of the prominent players operating in the wound care market include

  • ConvaTec Group PLC
  • Smith & Nephew
  • Mölnlycke Health Care AB
  • Advancis Medical
  • Baxter International
  • URGO Medical
  • Bactiguard AB
  • Medtronic
  • 3M
  • Derma Sciences, Inc. (Integra LifeSciences)
  • ACE Matrix

Latest Developments

  • In May 2023, Vinzent Inc. announced the award of Smith & Nephew an Innovative Technology contract for PICO Single Use Negative Pressure Wound Therapy Systems
  • In March 2023, Quintess Medical announced the partnership with Bactiguard AB to launch its Wound Care product range in the United Kingdom and Ireland. This agreement was intended to boost the company’s standing in the country.
  • In January 2023, Convatec Group (UK) announced the ConvaFoam, a versatile bandage suitable for wound treatment and skin protection across various stages of the journey.
  • In September 2022, MiMedx Group, Inc. (US) announced an AMNIOEFFECT, a tri-layer PURION processed human tissue allograft that includes the amnion, intermediate, and chorion membrane layers of the placenta.
  • In April 2021, 3M Company announced the launch of the product 3M Spunlace Extended Wear Adhesive Tape on Liner, 4576. This product has a 21-day wear period, ensuring user compliance while also providing health and economic benefits.
  • In May 2021, Smith & Nephew announced the launch of the product ARIA Home PT, a remote physical therapy tool as part of the ARIA suite of technologies.
  • In March 2020 Cardinal Health announced the launch of a surgical drape with Avery Dennison’s unique BeneHold CHG adhesive technology to decrease surgical site contamination.

 Report Scope

REPORT ATTRIBUTESDETAILS
Study Period

2021-2031

Growth Rate

CAGR of ~4.61% from 2024 to 2031

Base Year for Valuation

2024

Historical Period

2021-2023

Forecast Period

2024-2031

Quantitative Units

Value in USD Billion

Report Coverage

Historical and Forecast Revenue Forecast, Historical and Forecast Volume, Growth Factors, Trends, Competitive Landscape, Key Players, Segmentation Analysis

Segments Covered
  • Product
  • Wound Type
  • End-Users
Regions Covered
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa
Key Players

ConvaTec Group PLC, Smith & Nephew, Mölnlycke Health Care AB, Advancis Medical, Baxter International, URGO Medical, Bactiguard AB, Medtronic, 3M, Derma Sciences Inc. (Integra LifeSciences), ACE Matrix

Customization

Report customization along with purchase available upon request

Wound Care Market, By Category

Product

  • Advanced Wound Dressing
  • Surgical Wound Care
  • Traditional Wound Care
  • Wound Therapy Devices

Wound Type

  • Surgical & Traumatic Wounds
  • Diabetic Foot Ulcers
  • Pressure Ulcers
  • Venous Leg Ulcers
  • Burns & Other Wounds

End-User

  • Hospitals and Clinics
  • Long-term Patient Care
  • Home Care Settings

Region

  • North America
  • Europe
  • Asia-Pacific
  • South America
  • Middle East & Africa

Research Methodology of Market Research

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Reasons to Purchase this Report

Unveiling the Market Landscape We'll dive deep into the market, exploring its demographics, economic conditions, and other factors that shape its dynamics. This will help us understand the different segments within the market and their sizes. Market Value and Growth Hotspots We'll provide you with up-to-date data on the market value and growth projections for each segment. We'll also highlight the regions and segments that are expected to outpace the rest. Regional FocusMarket Drivers and Trends We'll analyze the market across different regions, examining how the product or service is consumed and what forces are influencing its growth. This will give you insights into the key factors driving the market in each region. Competition LandscapeWho's Who and What's New We'll map out the competitive landscape, ranking the major players. We'll also track their recent moves, including new product or service launches, partnerships, acquisitions, and expansions. Company ProfilesInside the Giants We'll provide in-depth profiles of the leading companies, covering their history, strategies, and financial performance. We'll also analyze their strengths, weaknesses, opportunities, and threats (SWOT). Market OutlookShaping the Future We'll explore the latest developments in the market, identifying growth opportunities and challenges. We'll also look at emerging trends in both developed and developing regions. Market Forces and Value Chain We'll apply Porter's Five Forces framework to analyze the competitive forces shaping the market. We'll also map out the value chain to understand how different players contribute to creating value. Market DynamicsPast, Present, and Future We'll examine the historical and current market dynamics, identifying key drivers and restraints. We'll also provide our insights on the future of the market, highlighting growth opportunities in the years ahead. Expert SupportPost-Purchase Guidance For the next six months, our analysts will be available to provide personalized support, answering any questions or providing further insights into the market.

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Pivotal Questions Answered in the Study

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