Global Chronic Wound Care Market Size By Product ( Advanced Wound Dressing, Surgical Wound Care, Traditional Wound Care), By Application (Diabetic Foot Ulcers, Pressure Ulcers, Venous Leg Ulcers), By End-User ( Hospitals, Specialty Clinics, Home Healthcare), By Geographic Scope And Forecast

Chronic Wound Care Market Size And Forecast

Chronic Wound Care Market size was valued at USD 12.4 Billion in 2022 and is projected to reach USD 16.1 Billion by 2030, growing at a CAGR of 3.1% from 2023 to 2030.

Chronic disorders such as diabetes, cancer, and other autoimmune diseases are expected to increase the incidence rate of chronic wounds over the world. Antimicrobial resistance, unhealthy and sedentary lifestyles, and cigarette and alcohol intake all contribute to the rise in noncommunicable disease prevalence. According to the CDC’s National Diabetes Statistics report for 2020, the number of diabetes patients has risen to an estimated 34.2 million, accounting for approximately 10.5% of the total population. According to a similar survey, an estimated 26.8 million individuals have diabetes, with another 7.3 million having diabetes but not being diagnosed.

Global Chronic Wound Care Market Definition

So, a chronic wound? Think of it as a wound that's stuck. It's like something messed up the normal healing process, maybe a problem with nerves, blood vessel growth (angiogenesis), or cells moving to the right place. Basically, it's not healing properly and hasn't shown any real improvement in about a month. What can cause this? Well, things like the wrong treatment, constant pressure, injuries, especially on the legs, too much bacteria, and just plain bad luck can all play a role. You can usually spot a chronic wound by its edge – it's often overgrown, thick, and doesn't seem to be closing. Plus, the skin around it is usually irritated, which definitely doesn't help it heal. Certain people are also more likely to get these wounds, like folks who've had bariatric surgery, people with diabetes or venous insufficiency, and older adults. So, if you suspect something's not healing right, get it checked out! Learn more about wound care. Don't wait!

So, dealing with those stubborn chronic wounds? It really depends on what you're up against. Usually, you've got to tackle the root cause first to even get things moving. For folks with diabetes, it's all about better eating and keeping those blood vessels healthy. And if it's a diabetic or pressure ulcer, you've got to take the pressure off the affected spot. Got an arterial ulcer? You might need revascularization. But for venous ulcers, compression therapy can do wonders. Now, to keep all the things that mess with healing straight, the Wound Healing Society suggests using the acronym TIME. Basically, T stands for Tissue – like if there's necrotic tissue hanging around. M is for Moisture, so think about whether the wound is too wet (macerated) or too dry (dehydrated). And E is for (Wound) Edge – is it healing up nicely (re-epithelializing) or just not budging (non-advancing)?

Global Chronic Wound Care Market Overview

An increase in the worldwide elderly population, an increase in traumatic wounds and surgical procedures, and an increase in the frequency of chronic illnesses such as obesity and diabetes have all contributed to an increase in the incidence of chronic wounds over the previous decade. According to the International Diabetes Federation (IDF), more than 460 million individuals aged 20 to 79 globally have diabetes, with that number anticipated to climb to 700 million by 2045. Diabetes is a chronic disease that is known to generate complicated complications that generally do not heal on their own and necessitate surgery.

So, because more and more people are getting diabetes, the market for wound care is expected to really take off. Plus, governments in developing countries are making it easier for new companies to get started, which should create some awesome opportunities for businesses to jump into the advanced wound care market. Companies are also investing more in R&D and releasing cool, new wound care gadgets, which should help the Chronic Wound Care Market become even more popular. Basically, there's tons of room for the market to grow! People have more money to spend and are more aware of the importance of proper wound care, because let's face it, messing up wound treatment can seriously harm your health and, in the worst-case scenario, even lead to death.

As a consequence, throughout the forecast period, this factor is likely to increase demand for the Chronic Wound Care Market. The high expense of chronic wound care solutions, on the other hand, will hinder market expansion. Furthermore, hazards connected with chronic wound care product cure therapy, as well as a lack of knowledge, would be a substantial limitation on the Chronic Wound Care Market’s revenue growth. Furthermore, growing product costs, as well as the availability of alternative wound care solutions, may impede market revenue development during the projection period.

Global Chronic Wound Care MarketSegmentation Analysis

The Global Chronic Wound Care Market is Segmented on the basis of Product, Application, End-Use, and Geography.

Chronic Wound Care Market, By Product

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

Based on Product, the market is segmented into Advanced Wound Dressing, Surgical Wound Care, Traditional Wound Care, and Wound Therapy Devices. Advanced wound dressing led the market in 2022 and is predicted to expand at the quickest rate during the forecast period due to advances in technology, increased occurrences of chronic illnesses, and an increase in the number of sports-related injuries.

Chronic Wound Care Market, By Application

• Diabetic Foot Ulcers
• Pressure Ulcers
• Venous Leg Ulcers
• Others

When we look at the application of these wound treatments, we see the market broken down into areas like Diabetic Foot Ulcers, Pressure Ulcers, Venous Leg Ulcers, and a catch-all "Others" category. Back in 2022, the diabetic foot ulcers segment was really the big player, mainly because there are just more and more people around the globe living with diabetes. But things are shifting! We're expecting the pressure ulcers category to grow the fastest in the coming years. Why? Well, with obesity on the rise, we're seeing more of these pressure ulcers – which, by the way, are injuries to skin and the tissue underneath caused by constant pressure. This often happens with long hospital stays and being unable to move around, especially for elderly folks or those who've lost a lot of weight suddenly.

Chronic Wound Care Market, By End-Use

• Hospitals
• Specialty Clinics
• Home Healthcare
• Others

Based on the End-Use, the market is segmented into Hospitals, Specialty Clinics, Home Healthcare, Others. Due to the rising number of procedures worldwide, the hospital segment accounted for the largest revenue share. However, due to increased demand for shorter hospital stays, the home healthcare category is expected to develop at the quickest rate throughout the projection period. Increasing surgical operations, an increase in the frequency of diabetic foot ulcers, and an increase in the number of hospitals are some of the primary drivers driving category growth.

According to the most recent American Hospital Association study, the total number of hospitals in the United States is expected to reach 6,093 in 2022. Similarly, according to statistics, the number of hospitals in the United Kingdom has steadily expanded, with the total number of hospitals reaching 1,978 in 2019. As a result, such variables may raise the number of procedures, hence boosting segment growth throughout the projection period.

Chronic Wound Care Market, By Geography

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Based on Geography, the Chronic Wound Care Market is classified into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa. North America has been evaluated as the most lucrative location in the Chronic Wound Care Market. Sports injuries, traffic accidents, and the presence of numerous significant competitors in the area are expected to boost the North American market.

According to the National Institute of Diabetes and Digestive and Kidney Diseases, an estimated 34.2 million individuals in the United States have diabetes, accounting for 10.5% of the population. Furthermore, 88 million persons aged 18 and older have prediabetes, which may contribute to a rise in chronic illnesses in this region. Similarly, the availability of qualified individuals, advancements in healthcare infrastructure, and the presence of significant industry competitors are likely to propel the market throughout the projection period.

Key Players

The “Global Chronic Wound Care Market” study report will provide valuable insight with an emphasis on the global market including some of the major players such as 3M, JOHNSON & JOHNSON, Paul Hartmann AG, BAXTER INTERNATIONAL, Coloplast Corp., ConvaTec Group PLC, Medline Industries, Inc., Derma Sciences (Integra LifeSciences), Mölnlycke Health Care AB, Smith & Nephew PLC.

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Key Developments

•  In January 2021, Integra LifeSciences Corporation has announced the acquisition of ACeII, Inc., with the goal of providing patients with more complete complicated wound management solutions.
• In June 2021, ConveTec Group PLC has established a partnership with RLS Global to offer Chlorasolv, a mild wound derider, in the European market and the rest of the globe.
•  In November 2020, According to a study article published by Elsevier B.V., virtual consultations for diabetic foot ulcers grew by 21,900% in the United States from 0 to 220 between March and May 2020.
• In March 2020, Cardinal Health created a surgical drape with Avery Dennison’s patented BeneHold CH adhesive technology, which helps to reduce the possibility of surgical site contamination.
• In May 2021, As part of the ARIA portfolio of products, Smith & Nephew developed ARIA Home PT, a remote physical therapy device.
• September 2019, MIMEDX has Iaunched EpiCord Expendeöle, which aims to heal diabetic foot ulcers more effectively by incorporating the allograft’s coversse Bree.

Ace Matrix Analysis

The Ace Matrix provided in the report would help to understand how the major key players involved in this industry are performing as we provide a ranking for these companies based on various factors such as service features & innovations, scalability, innovation of services, industry coverage, industry reach, and growth roadmap. Based on these factors, we rank the companies into four categories as Active, Cutting Edge, Emerging, and Innovators.

Market Attractiveness

The image of market attractiveness provided would further help to get information about the region that is majorly leading in the Chronic Wound Care Market. We cover the major impacting factors that are responsible for driving the industry growth in the given region.

Porter’s Five Forces

The image provided would further help to get information about Porter’s five forces framework providing a blueprint for understanding the behavior of competitors and a player’s strategic positioning in the respective industry. Porter’s five forces model can be used to assess the competitive landscape in the global Chronic Wound Care Market gauge the attractiveness of a certain sector, and assess investment possibilities.

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